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J. Christopher Giancarlo, executive vice president of the brokerage firmGFI Group Inc., has been nominated byPresident Obamato fill an opening on theCommodity Futures Trading Commission(CFTC). If confirmed by the Senate, Giancarlo would replaceJill Sommers, who resigned in July (seeNGI,July 8). The term begun by Sommers ends in April 2014. Giancarlo has been with GFI since 2001. Previously, he was the executive vice president atFenics Ltd., a partner withBrown Raysman Millstein Felder & Steinerand from 1992-1997, a founding partner withGiancarlo & Gleiberman. A former chairman of theWholesale Market Brokers’ Association Americas, Giancarlo received an undergraduate degree from Skidmore College and a juris doctor from Vanderbilt University School of Law. Giancarlo, like Sommers, would serve as a Republican at CFTC. No more than three members of the five-member commission may be from the same political party. The CFTC currently consists of DemocratsBart Chilton,Mark Wetjenand ChairmanGary Gensler, RepublicanScott O’Malia, and the seat vacated by Sommers.

August 12, 2013

Rockies Output Building on Williston, San Juan Growth

The Rocky Mountain area provided years of solid natural gas growth until an upstart called shale oil came along. Now the massive region is providing both, with operators showing that from a lot, they can produce a lot. Here’s a review of area developments surfacing over the past week in 2Q earnings reports from several operators.

August 12, 2013

Heinz Endowments Fires Environmental Director

The Heinz Endowments — a Pittsburgh-based philanthropic organization that has given millions to both supporters and opponents of hydraulic fracturing (fracking) — has caused a stir with its abrupt dismissal of its environmental program director, and indications it will be going in new directions.

August 12, 2013

Forays From the Established Eagle Ford into the Tuscaloosa

Producers reporting their operations results in 2Q2013 over the past week indicate no let-up in the work to be done, with liquids/oil growth from the Eagle Ford funding forays into the Tuscaloosa Marine Shale (TMS).

August 12, 2013

Oil, NatGas Produced from Federal Lands Contributed $230B to ’12 Economy

Energy produced from U.S. Department of Interior (DOI) lands in FY2012 — which included 626 million bbl of crude oil, 5 Tcf of natural gas and 460 million tons of coal — contributed $230 billion to the national economy and supported 1.2 million jobs, according to the government agency’s newly releasedEconomic Report for Fiscal Year 2012.

August 5, 2013
Fracking Lifted U.S. Oil, Gas Proved Reserves in 2011

Fracking Lifted U.S. Oil, Gas Proved Reserves in 2011

U.S. oil and natural gas exploration and production companies added 31.2 Tcf of wet natural gas proved reserves and almost 3.8 billion bbl of crude oil and lease condensate proved reserves in 2011, the Energy Information Administration (EIA) said in areportissued Thursday.

August 5, 2013

PG&E Facing More San Bruno Scrutiny

Resolution of proposed penalties of up to $2.25 billion for San Francisco-based Pacific Gas and Electric Co. (PG&E) may not come this year after a state regulatory administrative law judge (ALJ) asked for additional data on how any eventual penalties might affect finances. In addition, the specter of a criminal case has emerged.

August 5, 2013

Halcon to Spend ‘Significant Time’ in Utica

Halcon Resources Corp. said an exploratory well targeting the Utica Shale has been producing more than 2,000 boe/d. The company said it plans to spend “significant time” in the play, where it has the acreage to drill up to 500 gross wells.

August 5, 2013

Capacity Market Still Challenging Boardwalk

Capacity recontracting continued to weigh on Boardwalk Pipeline Partners LP revenues during the second quarter, but “every year, we seem to work out a little bit more of the problem,” CEO Stan Horton told analysts during an earnings conference call.

August 5, 2013

Capacity Constraints in Marcellus Restrict Transco

Williams on Thursday restricted some natural gas pipeline services on its mainstay Transcontinental Gas Pipe Line LLC (aka Transco) because of capacity constraints in the Pennsylvania portion of the Marcellus Shale.

August 5, 2013