The overall cash market Wednesday on average slipped just over a penny, where large losses at Northeast locations were not quite offset by gains in the Midwest, mostly steady eastern quotes, and steady to slightly lower Texas next-day prices. At the close of futures trading November had managed a 3.3 cent advance to $3.470 and December had added 5.3 cents to $3.820. November crude oil gained 3 cents to $92.12/bbl.
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MSC Compels Anti-Drilling Website to Remove Similar Logo
A kerfuffle between the Marcellus Shale Coalition (MSC) and an anti-drilling group over copyright infringement has resulted in the latter removing from its website a logo similar to the one used by the MSC.
New York AG: Another Suit Possible Over Delaware River Basin Drilling
Just days after a federal judge dismissed a lawsuit filed last year by New York State Attorney General Eric Schneiderman, the official hinted that he could file another lawsuit if natural gas drilling moves forward in the Delaware River Basin.
Sea Ice Temporarily Halts Shell’s Chukchi Drilling Plans
Just one day after it began, Royal Dutch Shell plc on Monday halted drilling in Alaska’s Chukchi Sea for safety reasons as sea ice began moving toward a drillship.
Raymond James: Marcellus Gas Shale ‘King’ by 2015
Based on production data verifiable to date, the Marcellus Shale will become the “King of the Gas Shales” by 2015 at the latest, U.S. energy analysts with Raymond James & Associates Inc. said in a new report.
Shale Liquids Bounty Is Light and Sweet
With heavy ramifications for Midcontinent energy infrastructure and eventual exports, the United States will find itself with oversupplies of both domestically produced liquids and crude oil from now through 2017, market consultant/analyst Rusty Braziel of RBN Energy LLC told a session of the Colorado Oil and Gas Association (COGA) annual meeting in Denver earlier this month (Aug. 13-16).
U.S. Shale Patch Blows Cold on Australia’s BHP
Australia’s BHP Billiton Ltd. took a $2.84 billion pre-tax charge against the value of dry gas assets in the Fayetteville Shale that it acquired just last year due to weak natural gas prices and oversupply. Further, the company’s once-touted Petrohawk Energy Corp., also bought last year, so far this year has been a loss-maker.
BHP Takes US$2.8B Charge on Fayetteville Fail
Australia’s BHP Billiton Ltd. is taking a US$2.84 billion pre-tax charge against the value of dry gas assets in the Fayetteville Shale that it acquired just last year due to weak natural gas prices and oversupply.
Comstock and KKR in Eagle Ford JV
Comstock Resources Inc.’s second quarter results took a beating from “extraordinarily low natural gas prices,” but the company continues to shift to oil in a big way and just sealed a joint venture (JV) for its “growth engine” Eagle Ford Shale acreage. Comstock expects good things to come from the Permian Basin and plans to hold on to its Haynesville-Bossier Shale acreage in anticipation of better days for dry gas.
Comstock and KKR in Eagle Ford JV
Comstock Resources Inc.’s second quarter results took a beating from “extraordinarily low natural gas prices,” but the company continues to shift to oil in a big way and just sealed a joint venture (JV) for its “growth engine” Eagle Ford Shale acreage. Comstock expects good things to come from the Permian Basin and plans to hold on to its Haynesville-Bossier Shale acreage in anticipation of better days for dry gas.