Huge

Physical natural gas prices on average gained a penny in trading for Tuesday deliveries, but California prices soared as next-day power made huge weather-driven gains. Northeast locations were also strong, but many market hubs were flat to within a couple of pennies higher or lower.

Stronger-than-expected natural gas output from the Marcellus Shale and huge liquids growth from the Greater Wattenberg Field in Colorado contributed to record volumes by Anadarko Petroleum Corp. in the first three months of 2013.

The Alaska Department of Natural Resources (DNR) and the U.S. Department of Energy’s (DOE) Office of Fossil Energy on Tuesday inked an agreement at the LNG 17 conference in Houston to work together — and with potential investors — to dig down and study unconventional energy resources in Alaska’s Arctic.

Oil and natural gas prices are facing a “third variable” on plentiful natural gas liquids (NGL), which appears to be creating the next domestic supply glut, a KeyBanc Capital Markets (KBCM) analyst said Wednesday.

California oil and natural gas regulators are collecting stakeholder input on proposed rules for hydraulic fracturing (fracking) but at this point, drilling in the state has been somewhat tepid from a year ago, according to the state Division of Oil, Gas and Geothermal Resources (DOGGR).

Lower 48 onshore oil and gas reserves are a huge energy pond, about 1.1 Qcfe worth, and the Marcellus Shale is its biggest fish. According to new research from Calgary-based ITG Investment Research, “the Marcellus dwarfs any other resource at 330 Tcfe, followed by the Eagle Ford and Bakken [shales] at 152 Tcfe (25 billion boe) and 72 Tcfe (12 billion boe), respectively.

A year-long study of New York City’s energy infrastructure has found that upgrades to natural gas services are critical for the city to prepare for huge supply and demand growth over the next two decades.

A year-long study of New York City’s energy infrastructure has found that upgrades to natural gas services are critical for the city to prepare for huge supply and demand growth over the next two decades.

It didn’t take that long for the horizontal drilling technology and hydraulic fracturing stimulation technique that unlocked huge stores of unconventional natural gas to be transferred to the oil patch, and now oily producers face as bleak a future for prices and activity as their gassy brethren, energy analysts with Raymond James & Associates Inc. said last week.