henry hub

The two North American pipelines with substantial stakes in Mexico have passed up the latest bidding solicitation by Petroleos Mexicanos (Pemex), which has been looking for potential builders for a $1.8 billion natural gas pipeline, considered the biggest now ongoing in the country.

Natural gas will continue to grow in popularity as a source fuel for power generation in North America, but it still faces obstacles to catching on in other parts of the world, in large part because of disparate gas prices, according to a report by the World Energy Council (WEC).

Physical gas for Thursday delivery gained overall on average 3 cents in Wednesday’s trading. Gains were widespread, with Gulf points solidly in the black, although Midcontinent constraints prompted lower prices at some Midcontinent pipelines. Major market hubs for the most part were within a few cents of unchanged.

Anti-shale protesters have taken down part of a barricade across a highway in New Brunswick but continue to block access to a facility where Southwestern Energy Co. (SWN) parks vehicles and seismic equipment.

Tennessee Gas Pipeline (TGP) Tuesday got the go-ahead from FERC to place into service three pipeline loops associated with its Northeast Upgrade Project, which will carry an additional 636,000 Dth/d of natural gas from the Marcellus Shale to Northeast markets.

Gulfport Energy Corp. continues to expand its position in the Utica Shale, but the Oklahoma City-based operator’s 2013 exit rate has been adversely impacted by delays associated with drilling.

Goodrich Petroleum Corp. raised its 2013 capital expenditure (capex) budget by $25 million as it committed further to the Tuscaloosa Marine Shale (TMS). Next year is expected to see Goodrich running five rigs in the TMS, an increase from two currently.

The U.S. market for land proppant that is used to hydraulically fracturing (frack) natural gas and oil wells should grow at a rate of 8% a year for the next two years, led by the Appalachian Basin, according to PacWest Consulting Partners.

Magnolia LNG LLC has filed with the U.S. Department of Energy (DOE) for additional export approvals for its proposed liquefied natural gas (LNG) export project in Lake Charles, LA.