An unintentional release of 165 MMcf of natural gas that burst into flames and damaged a portion of the Leach XPress pipeline in West Virginia, burning more than $437,000 worth of fuel, was likely caused by a landslide, Columbia Gas Transmission LLC (TCO) said in an incident report submitted to the the Pipeline and Hazardous Materials Safety Administration (PHMSA).
Articles from Landslide
The Pennsylvania Department of Environmental Protection (DEP) has fined Vantage Energy Inc. nearly $1 million — one of the largest fines imposed this year on a shale driller in the state — for violations that stemmed from a January landslide at a well pad in Greene County.
October natural gas futures traders couldn’t make up their minds on price direction Monday as some pinned last week’s landslide-like decline to news of significant losses at a sizeable hedge fund. After trading within a range from $4.880 to $5.140, the prompt month ended up closing at $4.942 on Monday, down 4 pennies on the day.
In three distinct selling waves, natural gas futures plummetedlower yesterday as traders liquidated long positions andestablished fresh shorts amid a bevy of bearish fundamental news.Feeding off losses incurred in the overnight session, the Februarycontract gapped down at the open Wednesday and shuffled lower tothe $7.50 level by 2 p.m. (EST).