Limited

The extent of the risks associated with development of shale oil and natural gas is “unknown” because existing studies have not taken into account the potential long-term, cumulative effects of the activity, according to a new report issued by the Government Accountability Office (GAO) Tuesday. The agency in a companion report did not make any recommendations to change environmental and public health requirements in light of advances in horizontal drilling and hydraulic fracturing (fracking).

Oil and natural gas companies looking to drill within regulated interstate river basins need to familiarize themselves with issues facing the local river basin commission and take those issues seriously before ultimately deciding whether to drill, an industry attorney said.

Tennessee Gas Pipeline (TGP) Zone 4 cash basis will remain weak for a while, although it will see an uplift of about 50 cents at the end of the year when the pipeline’s Northeast Supply Diversification project and National Fuel’s Northern Access expansion come online, Bentek Energy LLC said in a recent market note.

Houston-based Fayetteville Shale pioneer Southwestern Energy Co. took a hit last quarter from low natural gas prices in the form of a large ceiling test impairment and lower operating income.

Maryland’s portion of the Marcellus Shale may be limited to only the two westernmost counties, but development would benefit the entire state, the executive director of the Maryland Petroleum Council (MPC) told an audience in Hagerstown, MD.

Maryland’s portion of the Marcellus Shale may be limited to only the two westernmost counties, but its development would benefit the entire state, Drew Cobbs, executive director of the Maryland Petroleum Council, told an audience in Hagerstown, MD, on Wednesday.

In a decision in which both sides are claiming victories of sorts, a federal district judge in Denver on Friday ordered the federal Bureau of Land Management (BLM) to review and revise its drilling plan for the Roan Plateau in western Colorado where one operator has plans to drill thousands of natural gas wells.

There will be no quick replacement for Tom Doll, who resigned as Wyoming Oil and Gas Supervisor suddenly last week (see Shale Daily, June 18), according to a spokesperson for Gov. Matt Mead. The governor and the state’s Oil and Gas Conservation Commission are working out the details of the search for a replacement, the spokesperson told NGI’s Shale Daily.

Nearly all points scored double-digit gains, but Tennessee reported limited capacity available out of the Marcellus Basin and prices there plunged. Overall, physical prices for weekend and Monday delivery gained about 17 cents with Rockies and Midcontinent prices showing strong gains and Northeast and Southern California price rises somewhat more subdued.