Injections

Reflecting a growing caution in the oil/natural gas sector to temblors, the Colorado Oil and Gas Conservation Commission (COGCC) has ordered changes in a wastewater injection site in Weld County, asserting that actions at the location are deemed to be potentially related to nearby low-level seismic activity.

July natural gas is set to open 3 cents higher Thursday morning at $4.58 as traders try to juggle last-minute book-squaring with the release of a government storage report that is expected to show inventory increases well above historical norms. Overnight oil markets fell.

The Colorado Oil and Gas Conservation Commission (COGCC) on Tuesday ordered operation of a wastewater disposal well to cease temporarily while recent seismic activity in Weld County is assessed to determine whether there is a link to the well.

June natural gas is set to open 3 cents lower Tuesday morning at $4.38 as the longer-term weather-storage dynamic is seen giving the bears the upper hand. Overnight oil markets slumped.

The U.S. Environmental Protection Agency (EPA) has reversed approval of a Class II injection well it permitted in central Pennsylvania in February, citing stiff opposition and appeals from local residents and public officials during a public comment period.

May natural gas is expected to open 3 cents higher Wednesday morning at $4.77 as near-term weather forecasts are seen making timely additions to storage problematical. Overnight oil markets were mixed.

May natural gas is set to open 4 cents higher Wednesday morning at $4.57 as traders weigh issues with natural gas storage builds. Overnight oil markets rose.

Calling the state "seismically active," Oklahoma regulators are working with state Geological Survey (OGS) and seeking more detailed records from oil and natural gas exploration and production (E&P) operators on activity related to well stimulation and wastewater injection practices.

With the country’s “extraordinary winter for natural gas consumption” winding down, thoughts of gas market players have been on what’s left in gas storage caverns and what it will take to refill them in time for winter 2014-2015.