Leading

Continental Resources Inc. has launched a growth plan to triple production and proved reserves between now and the end of 2017, largely from its leading Bakken Shale position, but also with gains from other onshore holdings, including a discovery in the southwest corner of Oklahoma.

Leading liquefied natural gas (LNG) importers Japan and India on Wednesday launched a project to research global LNG pricing, AFP reported. The energy-hungry countries pay far more than Henry Hub prices for their imported gas because their supply contracts are linked to oil prices, and they said recently that they would like alternative pricing structures.

Continental Resources Inc. has launched a growth plan to triple production and proved reserves between now and the end of 2017, largely from its leading Bakken Shale position, but also with gains from other onshore holdings, including a discovery in the southwest corner of Oklahoma.

Pacific Gas and Electric Co. (PG&E) said it met an industry-leading 30-minute response time criteria for handling natural gas leaks 85% of the time in August. The response time compares to a 58.4% result in August 2011. The San Francisco-based combination utility said it is now ranked in the top quartile for meeting benchmarking criteria established by the American Gas Association (AGA). PG&E applied a more stringent standard in seeking to meet the 30-minute response time, given that the industry and AGA use 60 minutes as the usual test of responsiveness, said a PG&E spokesperson. Executive Vice President Nick Stavropoulos said the utility is seeking to “ease any anxiety” for customers regarding leaking gas.

Canadian projects to export liquefied natural gas (LNG) are leading charmed lives by being left out of escalating conflicts over pipelines and tanker terminals planned for the Pacific Coast.

Upstream exploration and production (E&P) spending in North America is leading the world for the seventh consecutive year, according to a report by GlobalData.

How much more oomph can new drilling technology bring to the U.S. unconventional revolution? The United States likely will add 11 Bcf/d of natural gas to its reserves this year at total finding, development and completion costs under $3.00/Mcf, while a review of 45,000 unconventional oil wells is finding “tremendous” growth in oil reserves, preliminary IHS Inc. data indicate.

Malaysian national oil company Petronas plans to combine its liquefied natural gas (LNG) expertise with the unconventional resources abilities of Calgary-based Progress Energy Resources Corp. by acquiring Progress in a deal worth C$5.5 billion including debt. The combined enterprise would deliver Canadian natural gas to world markets.

A majority of points registered double-digit gains Monday with Northeast locations leading the advance. Expected late spring New England heating loads prompted higher quotes, but a strong screen placed a bullish tone to nearly all delivery points. Futures took much of their cue from longer term weather forecasts showing an axis of warm temperatures engulfing the Midwest and East.