Funding

A proposal by some members of the West Virginia House of Delegates to place a moratorium on natural gas drilling permits until the state passes new regulations on drilling isn’t causing sleepless nights for West Virginia Oil and Natural Gas Association Executive Director Corky DeMarco.

Despite reporting a $16.3 million net loss for 2010, Magnum Hunter Resources Corp. believes that recent and pending acquisitions could help the company more than triple production, allowing it to compete with bigger companies in three major shale plays.

The Obama administration fully supports a cumulative study of the effects of natural gas drilling in the Marcellus Shale, but it also supports the Delaware River Basin Commission’s (DRBC) decision to release proposed rules that would allow some natural gas development projects before that study is completed, according to a letter written by Brigadier Gen. Peter A. DeLuca.

Pennsylvania State Police said Tuesday three-fourths of drilling wastewater haulers that were stopped by troopers late last month were issued citations and 207 trucks were placed out of service due to violations.

While both President Obama and Congress have proposed a boost in funding for the Commodity Futures Trading Commission (CFTC) in fiscal year (FY) 2011, CFTC Chairman Gary Gensler said more funds beyond the increase would be needed for his agency to implement sweeping Wall Street reforms, which exponentially increase the number of exchanges and clearinghouses that the CFTC will have to regulate.

While both President Obama and Congress have proposed a boost in funding for the Commodity Futures Trading Commission (CFTC) in fiscal year (FY) 2011, CFTC Chairman Gary Gensler said more funds would be needed for his agency to implement sweeping Wall Street reforms, which exponentially increase the number of exchanges and clearinghouses that the CFTC will have to regulate.

Ten projects focused on ways to increase U.S. supplies of unconventional natural gas and oil have been selected for partial federal funding, the U.S. Department of Energy (DOE) said Monday.

Fort Worth, TX-based Quicksilver Resources Inc. last week was said to be negotiating to gain a partner to inject needed funding into its cash-poor natural gas shale plays, but instead, the independent gained some negotiating room by selling its midstream operations.

Colorado Gov. Bill Ritter on Thursday awarded two grants totaling almost $800,000 to increase the use of natural gas as a transportation fuel.