Despite the flood of natural gas on the market and stubbornly low prices, higher trading volumes should come as no surprise, according to one market consultant.. read more
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Halliburton Discloses Details on No-Guar Frack System
Halliburton Co. on Thursday disclosed details on the performance of its new hydraulic fracturing (fracking) service, which uses a fluid based on a derivatized natural polymer rather than guar gum.
Geology in California’s Monterey Shale Problematic, Analyst Says
Running counter to recent public and private sector analyses, mediocre results so far and complex geology have combined to cause an Alliance Bernstein (AB) analyst to question whether the Monterey Shale will live up to some of the hype surrounding its future prospects. Even with these reservations, high oil prices could push the play closer to its potential, the report conceded.
BP Leveled by North American Operations Losses
A write-down on U.S. natural gas resources, a decision to cancel a flagship drilling project offshore Alaska, and the continuing impact of the Macondo well blowout pummeled BP plc’s profits in the second quarter.
ExxonMobil’s Bakken Output 60% Higher in One Year
ExxonMobil Corp.’s production in the Bakken Shale has reached about 32,000 boe/d, which is 60% higher than a year ago and double the amount the company was producing just three years ago, a top executive said Thursday. Two more oil-directed rigs have been added to the play in just the past three months.
North Dakota Fertilizer Plant Proposal May Use Flared Gas
In an attempt to leverage the state’s two biggest industries, North Dakota is considering construction of a world-scale, $1.5 billion nitrogen fertilizer plant. The plant could make use of some of the state’s natural gas now being flared in the face of low prices to fuel the facility, while the North Dakota Corn Growers Association (CGA) would use the plant to make anhydrous ammonia.
Third Point Takes Big Chesapeake Position, Say Market Insiders
Private hedge fund operator Third Point LLC, which is run by activist investor Daniel Loeb, listed Chesapeake Energy Corp. as one of the fund’s largest new holdings in a June exposure report to investors, according to several market followers.
DCP Midstream Pays $63M for Crossroads Processing Plant
DCP Midstream Partners has moved to increase its market position in East Texas, agreeing to pay Penn Virginia Resource Partners LP (PVR) approximately $63 million for the Crossroads processing plant and associated gathering system in Harrison County, TX, the two companies said.
EIA: Some Light at End of Natural Gas Price Tunnel
Natural gas prices this year and next will be slightly higher than previously forecast, lifted in large part by an expected increase in demand from the industrial sector, the Energy Information Administration (EIA) said.
Industrial Demand Could Boost Natural Gas Prices, EIA Says
Natural gas prices this year and next will be slightly higher than previously forecast, lifted in large part by an expected increase in demand from the industrial sector, the Energy Information Administration (EIA) said Tuesday.