The physical gas market overall on average Thursday was unchanged, but once the wide-swinging Northeast pipes that include Algonquin, Iroquois and portions of Tennessee are factored in, the picture changes to a loss of 21 cents. Most cash trades were completed before the 10:30 a.m EST release of storage data by the Energy Information Administration (EIA), but the 157 Bcf withdrawal was less than the market was expecting, and futures slumped. At the close March had dropped 14.3 cents to $3.163 and April was off 14.0 cents to $3.231. March crude oil fell 30 cents to $97.31/bbl.
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While other stakeholders have been critical of California’s preliminary draft hydraulic fracturing (fracking) rules, two energy attorneys with the firm of K&L Gates consider the rules’ proposed protections for trade secrets to be adequate for shielding exploration and production (E&P) operators’ proprietary information tied to fracking.
Accusing Tennessee Gas Pipeline of “improperly segmenting” its expansion projects to avoid rigorous environmental reviews, three environmental groups have filed an emergency motion asking FERC to expedite consideration of their request for the agency to rehear a May order approving the pipeline’s Northeast Upgrade Project.
The Environmental Protection Agency (EPA) has called on FERC to expand the scope of its environmental analysis of Dominion Cove Point’s proposed liquefaction facilities to include the “indirect effects” related to natural gas drilling and combustion.
North American shale gas, particularly in the United States, has proven an energy cost-saving miracle for consumers who otherwise would be staring at prices three or four times higher, according to reports released Thursday by Toronto-based TD Group, the holding company for TD Bank.
Prompted by the boom in the Marcellus Shale in Pennsylvania, a 136-year-old legal publishing firm on Monday has issued the first resource for the state’s oil and gas legal reference. Its publisher characterizes the book as a resource for landowners, lawyers, judges and producers alike.
Double Eagle Petroleum Co. said Tuesday it is joining Warren Resources Inc. to increase its stakes in Wyoming’s Atlantic Rim by acquiring some of Anadarko Petroleum Corp.’s remaining interests.
W&T Offshore Inc. agreed Tuesday to spend $228 million to acquire all of Newfield Exploration Co.’s remaining Gulf of Mexico (GOM) properties, which include 65 deepwater blocks. The 78-block inventory covers more than 430,000 gross acres.
Calumet Specialty Products Partners LP said it plans to expand its existing refinery in Karns City, PA, to include a natural gas-to-liquids (GTL) plant with a nominal processing capacity of 1,000 b/d.
Constitution Pipeline Co. LLC’s proposal to build and operate a 121-mile long, 30-inch diameter pipeline between Susquehanna County, PA and Schoharie County, NY, does not include plans to service liquefied natural gas (LNG) export facilities, the Houston-based company said in a filing with FERC.