Helped

Devon Energy Corp. said increased production and higher prices for natural gas liquids (NGLs) helped the company earn $1 billion during 3Q2011 as it continues to look for a joint venture (JV) partner to help develop five of its emerging assets.

Continued production growth and new pipelines connecting producing areas to consumers have helped keep natural gas prices low, despite a 2.6% increase in demand this year, and market conditions going into the winter are generally positive, according to FERC’s Office of Enforcement (OE).

Continued production growth and new pipelines connecting producing areas to consumers have helped keep natural gas prices low, despite a 2.6% increase in demand this year, and market conditions going into the winter are generally positive, according to FERC’s Office of Enforcement (OE).

Natural gas production in the northeastern United States has grown rapidly since 2009, thanks to increased drilling in the Marcellus Shale, according to data released by the Energy Information Administration (EIA) Tuesday.

A stretch of heavy rainfall across Pennsylvania helped ease water levels in the Susquehanna River Basin, but the Susquehanna River Basin Commission (SRBC) on Monday morning was still restricting withdrawals on 28 state waterways.

A lawsuit filed by Amaranth Advisors LLC claiming JPMorgan Chase & Co. executives helped to cause the natural gas hedge fund to collapse may not proceed, New York Supreme Court Judge O. Peter Sherwood has ruled. The hedge fund imploded in a $6.4 billion debacle in 2006 on bad bets on natural gas futures and derivatives deals. Amaranth sued the bank a year later for its alleged role in the fund’s demise, claiming that JPMorgan officials interfered in a deal with Citadel by disparaging Amaranth’s financial condition (see NGI, Nov. 19, 2007). In a 32-page ruling Sherwood said Citadel had “conducted its own research in connection with the proposed transaction with the fund and evidence of the tenuousness of the fund’s financial condition was readily available” (Amaranth LLC v. JPMorgan Chase & Co., No. 603756/2007, New York Supreme Court, New York County).

A lawsuit filed by Amaranth Advisors LLC four years ago that claimed JPMorgan Chase & Co. executives helped to cause the natural gas hedge fund to collapse may not proceed, a New York Supreme Court judge ruled on Friday.

Drilling in the Haynesville Shale helped Louisiana more than double its natural gas production in April from two years ago, and production in the Lower 48 states increased 10.6% (6.66 Bcf/d) to 69.05 Bcf/d during the same time period, according to the Energy Information Administration’s (EIA) monthly natural gas report.

Drilling in the Haynesville Shale helped Louisiana more than double its natural gas production in April from two years ago, and production in the Lower 48 states increased 10.6% (6.66 Bcf/d) to 69.05 Bcf/d during the same time period, according to the Energy Information Administration’s (EIA) monthly natural gas report.