Development of oil and natural gas in the Eagle Ford Shale added more than $61 billion in total economic impact during 2012, according to a study by the Center for Community and Business Research in The University of Texas at San Antonio (UTSA) Institute for Economic Development.
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August natural gas bidweek prices saw stout gains across the board except for a handful of Marcellus Shale trading points as NGI’s National Spot Gas Average came in 28 cents higher than the previous month at $3.00/MMBtu, according to Natural Gas Intelligence (NGI), which has unveiled a number of new market pricing locations with its latest monthly price survey.
The bloom has been off the dry gas rose for a while now, but the Fayetteville Shale continues to provide Arkansas with a bouquet of economic activity and job creation, according to a new study.
BP plc was the only one of the top five U.S. producers of natural gas that also showed up among the top five gas marketers in 2010, according to an analysis by Natural Gas Intelligence (NGI) of federal filings that showed a 6% gain in trading in 2010 over 2009.
Natural gas consumption by U.S. power generation in July, the second hottest July on record, was up 21% from levels in July 2005 to 33.8 Bcf/d, while coal consumption from power generation rose 0.5% to 97.9 million short tons and petroleum liquids consumption from generation plummeted 53% to 297,000 bbl/d from 631,000 bbl/d in July 2005, the Energy Information Administration (EIA) said in its latest Monthly Flash Estimates of Electric Power Data.
Southern California and the Atlantic coastal area from New York City to northern Virginia are the most severely congested areas in the country, the U.S. Department of Energy (DOE) said in a new national electric transmission congestion study released last Tuesday.
With the exception of 2002, U.S. gas demand has been flat over the last five years because of limited supply growth, but going forward demand growth will be limited not only by supply but also by conservation in the residential and commercial sectors, demand destruction in the industrial sector and fuel switching in the electric sector, all because of high prices, consulting firm Energy Ventures Analysis (EVA) said in its latest Fuelcast outlook.
The Department of the Interior’s Minerals Management Service(MMS) announced a continuation of the Outer Continental Shelfroyalty-in-kind (RIK) pilot program last week and has doubled theamount of gas previously offered. Nearly 500 MMcf/d of productionwill go on sale this spring, the MMS said. Details for the sale arestill being finalized.