henry hub

California Market Slips Lower Despite Oppressive Heat; Futures Steady

Physical natural gas for delivery Thursday drifted lower in Wednesday’s activity, with most points outside the Northeast trading with a 5-cent range of unchanged. In New England, a rise in forecast temperatures, combined with pipeline constraints, was enough to motivate buyers, but in the Mid-Atlantic mostly normal temperature forecasts worked to soften next-day prices.

May 14, 2014

Strong Eagle Ford Wells Make PVA Optimistic; Analyst Unsure

During the first quarter Penn Virginia Corp. (PVA) set a quarterly oil production record, thanks to a 15% increase in output from its Eagle Ford Shale operations as it continues to grow and delineate its South Texas acreage.

May 14, 2014
Disposal Well Data Key to Quake Cure, Texas House Panel Told

Disposal Well Data Key to Quake Cure, Texas House Panel Told

Minor earthquakes blamed on drilling waste disposal wells have been shaking up small towns overlying the Barnett Shale of North Texas for a while now. On Monday, state lawmakers put their ears to the ground during the first hearing of a subcommittee formed on the matter, hearing from local mayors, academic, environmental, regulatory and industry representatives.

May 14, 2014
Regulatory Activity to Dominate in the Bakken, State Official Says

Regulatory Activity to Dominate in the Bakken, State Official Says

Oil and natural gas operators in the robust North Dakota production fields are facing a lot of new regulatory requirements potentially from both state and federal government, beginning June 1 with a new state requirement for gas capture plans with each new drilling permit application, as underscored Tuesday by the state’s chief oil/gas official.

May 14, 2014
NatGas Industry Lauds President’s Renewed Bid to Streamline Permitting, Invest in Infrastructure

NatGas Industry Lauds President’s Renewed Bid to Streamline Permitting, Invest in Infrastructure

A renewed attempt by President Obama on Wednesday to invest in the nation’s aging infrastructure, as well as streamline the federal permitting process, now a slow-moving spaghetti loop of agencies and stakeholders, was lauded by the natural gas industry.

May 14, 2014

Activists Call For Oil/Gas Well Air Emissions Limits Near Population Centers

The U.S. Environmental Protection Agency (EPA) should protect public health by setting air pollution limits on oil and natural gas wells, and associated equipment near population centers, according to a coalition of 64 environmental and community groups.

May 14, 2014

Wyoming Begins Effort to Plug Abandoned Wells

The Wyoming Oil and Gas Conservation Commission (OGCC) has retained a contractor and begun a long-delayed effort to plug abandoned oil and natural gas wells.

May 14, 2014

Industry Brief

The Alaska Division of Oil and Gas received 43 bids from companies and investors interested in obtaining state leases during its latest Cook Inlet and Alaska Peninsula oil and gas lease sales. Winning bidders have 10 years to explore and potentially develop the leased acreage. The division received 40 bids from eight bidders on 35 tracts encompassing 114,203 acres in the Cook Inlet sale area. It received three bids from two bidders on three tracts encompassing 10,280 acres in the Alaska Peninsula sale area. Winning bonus bids totaled $5.35 million for the Cook Inlet sale and $51,400 for the Alaska Peninsula sale. “This year’s lease sale results show continued optimism among investors about the hydrocarbon resource potential of these two regions, and that state-owned acreage is considered highly prospective for oil and gas development,” said Division of Oil and Gas Director Bill Barron. “The sale results also demonstrate continued growth in the market potential for Cook Inlet oil and gas.”

May 14, 2014

Ohio House Passes Severance Tax Bill

The Ohio House of Representatives late Wednesday afternoon voted 55-35 in favor of a bill that would levy a 2.5% severance tax on oil and natural gas produced from horizontal wells.

May 14, 2014

NERC Sees Summer Power as Adequate; Reliance on NatGas Grows

There should be enough power to go around this summer across the various regions of the North American Electric Reliability Corp. (NERC). But Texas could be squeezed if peak demand hits sooner than anticipated new generating capacity comes online. Also, as natural gas accounts for a larger portion of generating capacity across power grids, systems are having to adjust, NERC said Wednesday.

May 14, 2014