Looking

With the legislature looking at adjournment May 8, a bill (HB 1269) that would restrict oil and natural gas representation and participation on the Colorado Oil and Gas Conservation Commission (OGCC) passed out of committee on a partisan 3-2 vote late Monday night, worrying industry backers.

With the legislature looking at adjournment May 8, a bill (HB 1269) that would restrict oil and natural gas representation and participation on the Colorado Oil and Gas Conservation Commission (OGCC) passed out of committee on a partisan 3-2 vote late Monday night, worrying industry backers.

With the price of gold now down nearly 30% from its record September 2011 high of $1,920.30/oz to around $1,377, analysts looking for a commodity to be bullish about have turned their focus to natural gas as a new commodity “safe haven,” thanks to the shale revolution.

Colorado legislators and Wyoming regulators are looking at different ways to tighten oversight of their states’ oil and natural gas drilling.

With the price of gold now down nearly 30% from its record September 2011 high of $1,920.30/oz to around $1,377, analysts looking for a commodity to be bullish about have turned their focus to natural gas as a new commodity “safe haven,” thanks to the shale revolution.

GMX Resources Inc. (GMXR) announced Monday that it has filed for Chapter 11 bankruptcy, and is looking to finalize an asset purchase agreement with holders of the company’s senior secured notes to acquire all of GMXR’s operating assets and undeveloped acreage.

Attorneys for energy companies and landowners looking to advance shale development in New York State said proceedings in state appellate court last Thursday went well and they expect to hear rulings on two key cases in six to eight weeks, or by mid-May.

Attorneys for energy companies and landowners looking to advance shale development in New York State said Thursday morning’s proceedings in state appellate court went well and they expect to hear rulings on two key cases in six to eight weeks, or by mid-May.

Unlike natural gas, oil can be carried in a bucket — or in a rail car — as is increasingly the case in the Bakken Shale, for instance, where the drill bit has gotten ahead of the pipeline, way ahead of the pipeline, in offering oil producers a route to market.