A study published in Groundwater, a scientific journal for groundwater hydrogeologists published by the National Ground Water Association (NGWA), said Marcellus Shale gas drilling did not cause methane contamination in private water wells in Dimock Township, PA.
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CME Group went on the defensive last Wednesday after The Wall Street Journal (WSJ) in a front-page expose said high-speed traders using powerful computers are trying to profit from being able to see their futures market orders executed milliseconds before the rest of the market is able to see them.
CME Group went on the defensive Wednesday after The Wall Street Journal (WSJ) in a front-page expose said high-speed traders using powerful computers are trying to profit from being able to see their own futures market orders executed milliseconds before the rest of the market is able to see them.
The Federal Trade Commission (FTC) has approved the proposal of Norway’s Statoil ASA, which already has significant holdings in the Marcellus and Eagle Ford shales, to acquire Austin, TX-based independent Brigham Exploration Co., which would give it access to the Williston Basin’s Bakken and Three Forks oily formations. The transaction has cleared the Hart-Scott-Rodino waiting period with the FTC imposing no restrictions. The transaction is valued at $4.4 billion (US$36.50/share) and is expected to close either later this year or early in 2012, Brigham said. The transaction would give Statoil access to more than 375,000 net acres in the Williston Basin, which holds potential for oil and gas production from the Bakken and Three Forks formations. Brigham also holds interests in 40,000 net acres in other onshore plays. In addition to the production assets, the transaction also provides Statoil with about 430 miles of oil, natural gas and water transportation systems in the Williston Basin, which not only secures wastewater offtake but reduces the environmental footprint in production operations.
Tulsa-based oil and gas exploration and production company Samson Investment Co. could be in play, according to a Tuesday report by The Wall Street Journal, which cited unnamed sources who said the company is “considering strategic options.” A deal could be worth as much as $10 billion, the paper said.
Tesoro Corp. said it plans to spend about $50 million on rail facilities to boost Bakken Shale crude oil shipments from North Dakota to its refinery in Anacortes, WA. The San Antonio-based company said it hopes to deliver up to 30,000 b/d after the project’s completion, up from the current rate of 1,000 to 2,000 b/d. The project will include loading and unloading facilities and a unit train. Tesoro estimates construction will take between nine months to a year to complete, once the necessary permits are received.
Natural gas is mostly methane, which is a much more potent greenhouse gas, especially in the short term, with 105 times more warming impact pound for pound than CO2, said Cornell ecologist Robert Howarth. He added that “even small leaks make a big difference” and estimated that as much as 8% of the methane in shale gas leaks into the air during the lifetime of a hydraulically fractured shale gas well, which is up to twice what escapes from conventional gas production.