Initial

U.S. Department of Energy (DOE) Secretary Steven Chu described an initial report on hydraulic fracturing (fracking) as “practical, thoughtful and insightful,” as the subcommittee that compiled it began developing a timeline over the next 90 days for federal and state regulatory agencies to implement its recommendations.

The Pittsburgh region is poised to enjoy freedom from foreign energy and a new era of self-sufficiency, thanks to development of the Marcellus Shale, according to a recent report.

June futures made an initial attempt to rally Tuesday, but market technicians observed that the market failed to breach important resistance areas and prices settled slightly lower. At the close of trading June had eased 0.1 cent to $4.345 and July had shed 0.2 cent to $4.391. July crude oil surged $1.89 to $99.59/bbl.

Buoyed by a new gas processing plant and 10 Marcellus Shale wells drilled in the first quarter, Rex Energy Corp. is increasing its capital budget by $26.7 million for the year to support increased drilling activities.

Following the successful completion of its initial open season to sell firm storage services from natural gas storage assets located in north-central Pennsylvania, UGI Storage Co. commenced service April 1 for winning bidders, including Virginia Power Energy Marketing, UGI Central Penn Gas (UGI CPG), J. Aron/Goldman Sachs and New Jersey Resources Energy Services, the Reading, PA-based company said.

Quicksilver Resources Inc. has taken initial steps to create a separate midstream natural gas entity to support its 130,000 net-acre project in the Horn River Basin of northeastern British Columbia (BC).

The Maryland House of Delegates could vote as early as Tuesday on a bill that would freeze the permitting of Marcellus Shale drilling — at least temporarily — while state agencies review the results of various studies into Marcellus development and hydraulic fracturing (hydrofracking), including a major study being performed by the U.S. Environmental Protection Agency (EPA) (see Shale Daily, Feb. 24).

The U.S. Chamber of Commerce Institute for 21st Century Energy and a number of other groups last Thursday touted the launch of an initial well containment response system that provides the industry with new capabilities in the event of another deepwater incident in the Gulf of Mexico (GOM).

The U.S. Chamber of Commerce Institute for 21st Century Energy and a number of other groups on Thursday touted the launch of an initial well containment response system that provides the industry with new capabilities in the event of another deepwater incident in the Gulf of Mexico (GOM).