henry hub

Industry Briefs

President Obamahas accused Republicans of being responsible for restricting oil and natural gas production on federal lands, rather than Democrats, during the government shutdown (seeNGI,Oct. 7). “You know, the Republicans say they’re very concerned about drilling,” the president said at a news briefing. “They say Obama’s been restricting oil [and gas] production, despite the fact that…production is at its highest levels it has been in years and is continuing to zoom up. They say, you know, the Democrats are holding back oil production in this country.”Senate Energy and Natural Resources CommitteeRepublicans quickly fired back. “Forgive us for thinking it slightly insincere of the president to suddenly claim concern about federal oil and natural gas permitting.” The shutdown, which went into effect on Oct. 1, has halted theInteriorDepartment’s processing of onshore permitting and slowed processing for offshore drilling. “So why would the Republicans say to the folks who are interested in drilling for oil, sorry, we can’t let those things be processed…That doesn’t make sense,” Obama said.

October 14, 2013

First Energy Analyst Sees ‘Much Improved’ Gas Prices

The stars are aligning for “much improved” natural gas prices next year and beyond, said First Energy Capital’s Martin King, vice president for institutional research, and it’s no time for complacent thinking.

October 14, 2013
Drill, Baby, Drill — Faster Still

Drill, Baby, Drill — Faster Still

The average U.S. onshore drilling rig is producing 2% more wells than it did three months ago, and increasingly, rigs are targeting liquids-rich plays over those known for producing dry gas, according to Baker Hughes Inc.

October 14, 2013

Arkansas Regulator Said Front Runner to Chair FERC

Regulatory observers believe the odds are high that Colette D. Honorable, who chairs the Arkansas Public Service Commission, is the front runner to take over as head of FERC.

October 14, 2013

People

TheSenate Energy and Natural Resources Committeevoted out two nominations for high-ranking appointments to theDepartment of Interiorand theDepartment of Energy(DOE), clearingMichael L. Connor, currently commissioner of theBureau of Reclamation, to be the Deputy Secretary of Interior, succeedingDavid Hayes. Prior to becoming commissioner in 2009, Connor served as counsel to the Senate Energy and Natural Resources Committee, where he managed legislation for theBureau of ReclamationandU.S. Geological Survey.The committee also favorably reported the nomination ofElizabeth M. Robinsonto be the undersecretary of energy, filling one of the top positions under Energy SecretaryErnest Moniz. Prior to coming to DOE, Robinson was CFO atNASA, and a White House budget officer. The nominations aren’t likely to be voted on by the full Senate until Congress ends the stalemate over the federal government shutdown and the debt ceiling crisis.

October 14, 2013
EIA Bumps 2014 Henry Hub Estimate to $4.00/MMBtu

EIA Bumps 2014 Henry Hub Estimate to $4.00/MMBtu

The Henry Hub spot price for natural gas is expected to increase to $4.00/MMBtu next year, compared with an estimated $3.71/MMBtu this year and an average $2.75/MMBtu in 2012, according to the U.S. Energy Information Administration (EIA). Those projections are both higher than EIA had expected last month, when it estimated 2013 to be $3.68/MMBtu and 2014 to be $3.91/MMBtu (seeNGI,Sept. 16).

October 14, 2013

Santa: Economic Incentive ‘Heart of the Problem’ in New England

The coordination of natural gas and electricity markets is a regional effort that can’t be accomplished by just one side or the other, and it remains unclear who will pay for necessary infrastructure across the region, according to Don Santa, president of the Interstate Natural Gas Association of America (INGAA).

October 14, 2013

Foreign Nations Pin Hopes on U.S. Shale, LNG

The shale gas revolution and and planned liquefied natural gas (LNG) exports to foreign nations have elevated the United States’ position on the global energy stage, said European and Asian energy representatives last Thursday. They urged U.S. House lawmakers to seize the new energy tool for diplomatic purposes and to aid allies.

October 14, 2013
Antero Rocking as Investors Come Knocking

Antero Rocking as Investors Come Knocking

Investors poured into onshore operator Antero Resources Inc. in its debut last week on the New York Stock Exchange, ending the week above $53.00/share, nearly $10 higher than the opening bid of $44.00 on Thursday. The “AR” stock is the second highest U.S. offering this year.

October 14, 2013

LNG Export Project Targets Smaller Customers

Annova LNG LLC has filed with the U.S. Department of Energy (DOE) for authorization to export domestically produced liquefied natural gas (LNG) to customers that are too small to buy from larger liquefaction and export projects.

October 14, 2013