Two Calgary-based companies announced Tuesday that they will construct a 77-mile pipeline lateral in North Dakota to transport liquids-rich gas from the Bakken Shale to the Midwest for processing.
Articles from Haynesville
Penn Virginia Corp. CEO H. Baird Whitehead admitted to financial analysts Thursday that the company is “essentially a one-trick pony at this moment” due to its heavy focus on the Eagle Ford Shale of South Texas. However, he said, “we think it’s a pretty good-looking pony.”
The record-breaking drought gripping Texas has the state’s reservoir/aquifer managers eyeing water levels and issuing warnings. But lower water reserves apparently have not seriously affected oil and gas activities in the state, at least not yet.
Shale gas plays gained 14 active rigs to 964 rigs in the week ended April 29 over the previous week’s 950 rigs for a 1% increase, but the total was a 2% decrease from the 981 rigs active a month ago for the week ending April 1, according to NGI’s Shale Daily Unconventional Rig Count.
Philadelphia officials on Tuesday directed the city-owned natural gas utility not to buy Marcellus Shale gas until more is known about the safety of hydraulic fracturing (hydrofracking).
Shale giant Chesapeake Energy Corp. “has one of the industry’s best collections of natural gas assets,” but “continuing concerns about the company’s profligate spending” and accounting methods led veteran analyst Philip H. Weiss of Argus Research to trim his recommendation to “sell” last week.
Midcontinent Express Pipeline’s (MEP) access to high-growth gas shale basins, such as the Barnett, Bossier, Woodford and Haynesville, plus long-term, fixed-fee capacity reservation contracts give the 505-mile pipeline a “stable outlook,” according to Fitch Ratings.