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Broad Cash Gains Outpace Modest Futures Move

Physical gas for Thursday delivery jumped on average 8 cents nationally in Wednesday’s trading, with only a handful of individual points in the loss column surrounded by widespread gains. A large cold front was dropping temperatures well below normal as it moved out of the Plains and Midwest into the Great Lakes and into Texas.

November 6, 2013
Pioneer Downspacing, Zipper-Fracking in Texas Plays

Pioneer Downspacing, Zipper-Fracking in Texas Plays

During the third quarter, Pioneer Natural Resources Co. turned in some landmark results in the Wolfcamp Shale as the company continued to de-risk the West Texas play.

November 6, 2013

Project Would Tie Marcellus/Utica Condensate to Canadian Markets

Capacity to move growing production of condensate and natural gasoline out of the Marcellus/Utica Shale region to diluent markets in Canada is being offered by Unity Pipeline Co. LLC, which is proposing a system of new pipeline, as well as pipeline to be converted from natural gas service.

November 5, 2013

Phillips 66 to Add LPG Export Terminal at Freeport Facility

Phillips 66 is planning to expand its midstream business with a liquefied petroleum gas (LPG) export terminal to be built at its existing marine terminal in Freeport, TX, the Houston-based company said.

November 5, 2013

The Frackers Tells of Risky, Ambitious Ride to Energy Independence

George P. Mitchell and crew long have been credited with finding the trigger to unlock unconventional natural gas, but it was in fact a colorful cast of visionaries, oddballs and take-no-prisoner pitchmen who helped launch the United States on the road to energy independence, as told in the insightful, and at times suspenseful, new book by bestselling author Gregory Zuckerman, The Frackers: The Outrageous Inside Story of the New Billionaire Wildcatters.

November 5, 2013

CPUC Regulator Accuses PG&E of ‘Dishonesty,’ Calls for $17.25M Fine

Within days of a regulatory judge’s recommending a lesser penalty, one of the five members of the California Public Utilities Commission (CPUC) late Monday issued an alternate proposed decision, slapping a $17.25 million fine on Pacific Gas and Electric Co. (PG&E) for “calculated dishonesty” related to a natural gas pipeline safety issue.

November 5, 2013
Encana to Sell, Spin Off Properties, Slash Jobs

Encana to Sell, Spin Off Properties, Slash Jobs

Encana Corp. on Tuesday announced a bold strategy to move back into the winning column by focusing on only five North American onshore plays — down from 30 — requiring leasehold sales, a spinoff and a 20% reduction in jobs. The goal is to balance liquids and natural gas by 2017 from a limited number of assets, said CEO Doug Suttles.

November 5, 2013

Wyoming Lawmakers to Study Taking Back Federal Lands

An interim state legislative task force in Wyoming has directed staff to compile a report for two committees assessing the prospects for the state attempting to take back federally managed public lands, possibly following a tack Utah took last year. Any federal-to-state transfer of land control would be applauded by the oil and natural gas industry as drilling permits historically have taken exponentially longer to receive from the federal government.

November 5, 2013

Encana’s Top Five Money Makers Getting Bulk of Budget

Encana Corp., in stress mode since natural gas prices collapsed in 2009, will spend 75% of 2014 capital on only five North American onshore plays, all oily and liquids-rich, a strategy that within four years is designed to create a more evenly balanced operator.

November 5, 2013
Marathon Oil Eagle Ford Retention Drilling Mostly Done

Marathon Oil Eagle Ford Retention Drilling Mostly Done

Marathon Oil Corp. continued to raise its game in the Eagle Ford Shale during the third quarter, improving drilling times by 20% from a year ago and bringing drilling and completion costs down by 20%. The company still plans to exit the year with net production of about 100,000 boe/d from the South Texas play.

November 5, 2013