Fleet operators continue to look for “cleaner” and less expensive fueling alternatives to gasoline, while other small industries are studying the options of using liquefied natural gas (LNG) or propane, depending on the specific application, which has moved natural gas into the spotlight nationwide.
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Black Hills CEO Sees Big Potential in Mancos Shale
Although it will take another year or more to fully assess the value, Rapid City, SD-based Black Hills Corp. is staking a lot of its long-term oil and natural gas value on its Mancos Shale acreage in both the Piceance and San Juan Basins, CEO David Emery said during a 3Q2012 earnings conference call Thursday.
Tundra Energy, CN Plan Bakken Crude Oil Terminal
Tundra Energy Marketing Ltd. and CN, Canada’s national railway company, have signed a memorandum of understanding to build a crude oil car loading terminal in southwestern Manitoba, near the border with Saskatchewan, to serve Bakken oil producers in the two provinces, the companies said Thursday.
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.
Industry Briefs
Natural gas demand for U.S. electricity generation this winter is likely to look a lot like it did this past winter, 2.5-2.6 Tcf, U.S. Energy Information Administration (EIA) Deputy Administrator Howard Gruenspecht said at the LDC Gas Forum in Chicago. In addition, a lot of coal-fired generation will still be around, but how much capacity gets used will depend on natural gas prices. “We’re again expecting the power burn to run between 2.5 Tcf and 2.6 Tcf of gas for the period of December this year through March 2013…There is about 500 Bcf going to generation that could switch back to coal should natural gas prices start to rise above our expectations.” Gruenspecht said earlier this year the power burn was running more than 24 Bcf/d of gas to generate electricity. “We’re now expecting over the course of this year for the Henry Hub natural gas price to average about $2.65 and the average to move up to $3.34 next year. There is a lot of uncertainty about natural gas prices, in September we are looking at a future contract price ranges from $2.30/MMBtu to almost $4.70/MMBtu.”
Winter Natural Gas Demand Seen Similar to Last Year, Says EIA Official
Natural gas demand for U.S. electricity generation this coming winter is likely to look a lot like it did this past winter, 2.5-2.6 Tcf, a top official in the U.S. Energy Information Administration (EIA) told the LDC Gas Forums mid-continent meeting Tuesday in Chicago.
Report Points to More Gas-Fired Generation Globally
In the medium- and long-term the prospects for natural gas-fired power generation look “sound” for North America and Europe in particular and to a lesser extent worldwide, according to a report from London-based Frost & Sullivan (F&S).
SoCal Urban Fracking Continues to Draw Opposition
Another study is under way to look at hydraulic fracturing (fracking) and increased seismic activity in an urban oilfield sitting in a hilly southwest residential portion of Los Angeles. The producer in the crosshairs of skeptics, Plains Exploration and Production Co. (PXP), is undaunted in its efforts to try to make increased drilling activity in a mostly residential area work, according to local news reports.
Chesapeake Lays Off 70 Barnett Employees; 700 Remain
Chesapeake Energy Corp. on Tuesday announced that it would lay off 70 employees from its Barnett Shale workforce and transfer other staff members, leaving about 700 in its North Texas offices.
Ohio Mulls Water Sales, Leasing Land to Operators
Ohio Department of Natural Resources (ODNR) regulators are considering plans to sell water to operators to use for horizontal drilling and hydraulic fracturing (fracking), as well as possibly lease land in portions of the Marcellus and Utica shales.