Huge

Producers worldwide will continue to pursue deepwater drilling for natural gas and oil because the world will need a huge amount of fossil fuels for decades to come, Royal Dutch Shell plc CEO Peter Voser said Sunday in Cape Town, South Africa.

Natural gas hydrates, which could potentially lead to huge energy resources, occur at high saturations within reservoir-quality sands in the Gulf of Mexico (GOM), according to reports unveiled Tuesday by the Office of Fossil Energy’s (FE) National Energy Technology Laboratory (NETL).

Natural gas hydrates, which could potentially lead to huge energy resources, occur at high saturations within reservoir-quality sands in the Gulf of Mexico (GOM), according to reports unveiled Tuesday by the Office of Fossil Energy’s (FE) National Energy Technology Laboratory (NETL).

Huge spikes that often well exceeded a dollar at Northeast citygates were in sharp contrast to falling prices elsewhere Thursday. Although lows would continue to be around freezing or below at many locations Friday, including some in the South, a continuing moderation of overall heating load from previous levels combined with Wednesday’s retreat of 21.6 cents by January futures to generate losses at most points.

The “huge” amount of global liquefied natural gas (LNG) coming onstream, coupled with new sources of gas being unlocked in North America, has created “a new world…and I do not know how this world is going to work out,” Schlumberger Ltd. CEO Andrew Gould said Friday.

The “huge” amount of global liquefied natural gas (LNG) coming onstream, coupled with new sources of gas being unlocked in North America, has created “a new world…and I do not know how this world is going to work out,” Schlumberger Ltd. CEO Andrew Gould said Friday.

U.S. natural gas available for production has jumped 58% in the past four years, driven by improved drilling techniques and the discovery of huge shale fields in Texas, Louisiana, Arkansas and Pennsylvania, according to a report issued Thursday by the nonprofit Potential Gas Committee (PGC).

U.S. natural gas available for production has jumped 58% in the past four years, driven by improved drilling techniques and the discovery of huge shale fields in Texas, Louisiana, Arkansas and Pennsylvania, according to a report issued Thursday by the nonprofit Potential Gas Committee (PGC).

The huge capital expenditures (capex) by the U.S. energy sector in 2008 are unlikely to be seen again “for many years,” FBR Capital Markets analysts said last week. Shale natural gas now is a priority, but analysts said total domestic spending has to fall through 2010 to balance the market.