Losing

The state of Texas is losing billions of dollars because of tax rate deductions for unconventional natural gas wells drilled using hydraulic fracturing (fracking), which are classified as “high-cost wells,” according to a report by the state Legislative Budget Board (LBB).

The state of Texas is losing billions of dollar because of tax rate deductions for shale gas wells using hydraulic fracturing that are classified as “high cost wells,” according to a report by the state Legislative Budget Board (LBB).

Oil and natural gas operators appear to be on the wrong end of a turf war with the coal industry along the length of eastern Ohio, losing “significant” amounts of acreage in coal-bearing townships that also intersect with the Marcellus and Utica shales.

Oil and natural gas operators appear to be on the wrong end of a turf war with the coal industry along the length of eastern Ohio, losing “significant” amounts of acreage in coal-bearing townships that also intersect with the state’s portions of the Marcellus and Utica shales.

November futures managed to break the string of four losing sessions in a row on Tuesday in what was characterized as bargain hunting and not indicative of any significant fundamental or technical shift in the market. At the close, November had risen 2.1 cents to $3.638 and December had managed to add 1.6 cents to $3.944. November crude oil made it three losses in a row with a drop of $1.94 to $75.67/bbl.

The August natural gas contract put in another uninspired performance Tuesday as weather reports citing continued hot weather seem to be losing their market-moving punch. August fell 1.6 cents to $4.370 and September eased 2.4 cents to $4.331. September crude oil rose 39 cents to $99.59/bbl.

Three federal agencies say they will cooperate on air quality issues for onshore oil and gas projects drilled on public lands and will create a new agency to implement collaborative plans by late September.

The federal government is losing more than $4.7 million a day due to declining production at existing oil and natural gas wells in the Gulf of Mexico (GOM) and “bureaucratic delays” with issuing permits for wells in the Gulf offshore, according to a recent report by the National Center for Policy Analysis (NCPA).

The federal government is losing more than $4.7 million a day due to declining production at existing oil and natural gas wells in the Gulf of Mexico (GOM) and “bureaucratic delays” on issuing permits for wells in the Gulf offshore, according to a recent report by the National Center for Policy Analysis (NCPA).