Transcontinental Gas Pipeline Co.(Transco) is gauging interest in increasing firm storage service for up to 8.7 Bcf/d of withdrawal, 7.3 Bcf/d of injection and 73.1 Bcf of capacity at the Eminence Storage Field in Covington County, MS. The salt cavern storage facility in Transco’s Zone 4 has current capacity of almost 12 Bcf. The open season runs to July 16, with capacity available Aug. 1. For information, contact Mike Ledford at (713) 215-4929 or Rose Prevott at (713) 215-4396.
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Bears Barely Moving Following Stout EIA Storage Report
Natural gas futures dropped Thursday morning following the release of government storage figures that were somewhat on the high side of what traders were expecting.
May 29, 2014
Broader Strength Trumps Northeast, Marcellus Weakness; Futures Slide Post EIA Report
Spot natural gas for Friday delivery overall moved little, and large setbacks at Northeast and Marcellus points were more than offset by broad gains in the Gulf Coast, Rockies and California. East Texas was also strong.
May 29, 2014
Chevron Shareholders Reject Shale Disclosure Measure for Fifth Year
Chevron Corp. shareholders on Wednesday rejected for the fifth year in a row a proposal to disclose more information about unconventional drilling operations.
May 28, 2014
Strong June Expiration Leads Physical Market Higher; Futures Add 11 Cents
Physical natural gas for Thursday delivery rose again in screen-directed trading on Wednesday. Nearly all points saw gains from a nickel or more in the Gulf to double-digit advances in the Great Lakes, Marcellus, Mid-Atlantic and Appalachia. There was little weather inspiration, and much of the gains mirrored the gains posted by the expired June futures contract. At the close June had settled at $4.619, up 11.4 cents, while July finished 10.4 cents higher at $4.615. July crude oil tumbled $1.39 to $102.72/bbl.
May 28, 2014
Monterey Shale Reserve Drop Draws Comments, Questions
Knowledgeable industry and academic sources following California’s Monterey Shale on Tuesday expressed little surprise or disagreement with the U.S. Energy Information Administration’s (EIA) 96% cut in its estimated technically recoverable reserves (TRR) in the Monterey. They stress, however, that this is more a reflection of current technology being deployed in the play than its long-term potential.
May 28, 2014
UK Proposes Improved Industry Access to Shale Formations
The UK’s Department of Energy and Climate Change (DECC) launched a consultation on proposals Friday designed to improve industry’s access to oil and natural gas deposits in shale formations in exchange for voluntary payments by companies to localities affected by their drilling.
May 28, 2014
Koch Unit Taking Texas Propylene Producer Private in $2.1B Deal
Koch Industries Inc. unit Flint Hills Resources LLC is taking major propylene producer PetroLogistics LP and its general partner (PetroLogistics GP LLC) private in an all-cash deal worth about $2.1 billion.
May 28, 2014
Magnum Hunter’s Newest Investor Relational Now Biggest Shareholder
Activist fund Relational Investors LLC, helmed by former T. Boone Pickens lieutenants, is becoming the biggest shareholder in Magnum Hunter Resources Inc. (MHR) with a 15% stake after investing $150 million.
May 28, 2014
U.S. Natural Gas Production Continued Long-Running Ramp-Up in February, EIA Says
U.S. natural gas production was 2.38 Tcf in February, up from 2.31 Tcf in February 2013, continuing a ramp-up that resulted in a record 30.17 Tcf production total in 2013, according to the Energy Information Administration’s (EIA) latestMonthly Energy Review(MER).
May 28, 2014
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