Hoping

With a sea change about to take place in Washington politics, the oil and natural gas industry and public utilities — hoping for the best but bracing for the worst — have pledged to work with the new administration and Democratic leaders on Capitol Hill.

ConocoPhillips CEO Jim Mulva is hoping ExxonMobil Corp. joins his company and BP plc on the proposed $30 billion Denali pipeline project, which would connect natural gas fields in Alaska’s North Slope to the Lower 48.

Falcon Gas Storage Co. is hoping to get its MoBay Storage Hub project on-line in time for the 2009 hurricane season. However, for that to happen the State of Alabama will have to pick up the pace in granting a lease for three depleted gas reservoirs in state waters north of Dauphin Island.

Falcon Gas Storage Co. is hoping to get its MoBay Storage Hub project on-line in time for the 2009 hurricane season. However, for that to happen the State of Alabama will have to pick up the pace in granting a lease for three depleted gas reservoirs in state waters north of Dauphin Island.

June futures eased, to the dismay of market bulls who were hoping the contract would exhibit Friday’s strength and trade up to $8.23 Monday, or at least hold the psychologically important $8 technical support. instead, June settled at $7.913, down 3.1 cents, and July followed suit, dropping 4.3 cents to $8.091.

Noting that it is currently repairing leaks in the TL-264 segment, Dominion said Tuesday it was hoping to make the repairs without shutting in production. However, line pressures behind Cornwell Station got too high and it became necessary that production in bubbles 2207, 3225 and 3226 behind Cornwell’s No. 9 unit and in bubbles 2205 and 2206 behind Cornwell’s No. 7 and 8 units be shut in immediately until further notice.

With the potential of the Arkoma Basin’s Woodford Shale play just coming into focus, many in the industry are hoping for a repeat of the success seen in the Barnett Shale of North Texas. For its part, Newfield Exploration Co. thinks it’s time to start constructing pipeline to get gas to market.

The trio of producers hoping to develop a pipeline to deliver Alaska natural gas to Canada and the Lower 48 could very well be negotiating the deal with a new governor since Gov. Frank Murkowski was soundly defeated in his bid for re-election in the state’s Republican primary Tuesday.

Producers hoping to get their message across with the press and the general public are failing because they are trying to use reason and logic. They need to take the gloves off and craft more emotional and personal messages, according to an advocate for land access in the West.