Rockies Express Pipeline LLC (REX) has asked FERC to reconsider a recent order that removed restrictions so that customers of a new mainline displacement-only backhaul service may use secondary points to make forward-hauls.
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Endeavour to Buy SM Energy’s Marcellus Assets
SM Energy Co. has agreed to sell its Marcellus Shale assets in Pennsylvania, including its entire 42,000-acre leasehold and associated pipeline assets in McKean and Potter counties, to a subsidiary of Houston-based Endeavour International Corp. for approximately $80 million, the companies said Monday.
Southern Union in the Catbird Seat, Agrees to Talks with Williams
An agreement to merge with Energy Transfer Equity LP (ETE) may be in place, but Southern Union Co. agreed Friday to discuss a higher offer from Williams.
Futures Teased Higher by Weather Forecasts
August natural gas futures continued to advance Tuesday, making it three consecutive gains driven in large part by expectations of higher temperatures raising cooling load and limiting storage injections. Traders caution, however, that at some point the market may reach a point where further forecasts of warm weather may not have much impact and prices could tumble. At the close August had risen 4.5 cents to $4.333 and September had gained 3.5 cents to $4.312. August crude oil gained $2.28 to settle at $97.43/bbl.
Tropical System Upgraded; July Expiration Upbeat
July natural gas futures expired on a firm note Tuesday as traders had to factor in a slightly higher weather premium as a tropical system was upgraded and near-term weather forecasts called for warm temperatures. At the close July natural gas rose 10.1 cents to $4.357 and August added 9.0 cents to $4.354. August crude oil surged $2.28 to $92.89/bbl.
Managed Money Exiting Longs, Yet July Advances
July natural gas futures moved modestly higher Monday as options expired and traders saw the market holding its own. Recent data shows money managers favoring the “sell” side of the trading ledger. At the close July had risen 2.7 cents to $4.256 and August was up 1.4 cents to$4.264. August crude oil slipped 55 cents to $90.61/bbl.
Global Gas Glut Could Be Gone by 2012, Analyst Says
A current worldwide oversupply of natural gas may dissipate as early as the winter of 2012, leading to the potential for spot prices higher than contract prices in Asia and Europe, according to analysts at Wood Mackenzie.
Global Gas Glut Could Be Gone by 2012, Analyst Says
A current worldwide oversupply of natural gas may dissipate as early as the winter of 2012, leading to the potential for spot prices higher than contract prices in Asia and Europe, according to analysts at Wood Mackenzie.
California Fracking Legislation Gets Senate Hearing
Rediscovered as an oil/gas industry practice that hasn’t been high on California’s radar, hydraulic fracturing (fracking) is taking on a higher profile among state and local elected officials as the state’s legislature considers a new law (AB 591) that would require operators to disclose chemicals they use in the fracking process.
DCP Midstream Project Targets ‘Durable’ NGL Spread
DCP Midstream LLC is buying Seaway Products Pipeline Co. from ConocoPhillips in order to create natural gas liquids (NGL) transportation capacity from the Midcontinent to higher-value markets on the Texas Gulf Coast. In doing so it will be capitalizing on a durable spread in ethane prices between the two markets, analysts said last Thursday.