Physical natural gas for Tuesday delivery advanced overall on average 13 cents in Monday’s trading. Midwest locations were especially strong as pipelines reported constraints and eastern points jumped with weather forecasts calling for below normal temperatures by midweek.
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Norse Shifts to Chapter 7 Bankruptcy, Faces Liquidation
After receiving insufficient bids for its assets in New York State, two subsidiaries of Norway’s Norse Energy Corp. ASA have entered Chapter 7 bankruptcy and face total liquidation.
North Dakota Producers Face Lawsuits for Flaring
Ten lawsuits seeking class action status have been filed by mineral rights owners against North Dakota oil/natural gas operators alleging the loss of millions of dollars in royalties due to large amounts of flared associated gas during the past six years.
Schlumberger Shale Technology Helps to Lift North American Revenue
North America proved a winner for Schlumberger Ltd. in the third quarter, with revenue rising 7% sequentially, an all-time high, and margins expanding 57 basis points (bps), or 0.57%, to reach 20.3% on a year/year basis. New shale technology tested in several basins helped to lower drilling costs, and it’s now being given a look in other areas.
Baker Sees Typical U.S. Rig Decline Through December
The average U.S. rig count in the final three months of this year should decline by about 2.5% from 2Q2013, a typical seasonal slowdown around the holidays, and above the pronounced drop in the same period of 2012, when the rig and well count fell by more than 5%, Baker Hughes Inc.’s CFO said Friday.
New Brunswick Protest Turns Violent, Dozens Arrested
An anti-shale drilling protest in New Brunswick turned violent Thursday after authorities moved in to enforce an injunction to end an ongoing demonstration.
NRG to Buy Bankrupt Edison Mission in $2.5B Deal
With natural gas-fired and renewable generation assets as an attraction, Princeton, NJ-based NRG Energy Inc. said Friday it has entered a $2.5 billion “planned sponsor agreement” with Edison Mission Energy (EME) and some of its subsidiaries to eventually acquire the Chapter 11-mired independent power generation company. NRG said it hopes to close the acquisition in the first quarter next year.
Tetco, Tennessee Marcellus Pipe Expansions Near Start-Up
FERC Friday approved Texas Eastern Transmission’s (Tetco) and Algonquin Gas Transmission’s request to place into service an expansion of their systems that would deliver 800,000 Dth/d of Marcellus Shale gas to markets in New Jersey, New York and Connecticut.
Oregon LNG Projects Chasing Customers, Suppliers
In the midst of many unsettled regulatory permitting issues from the local to federal levels, the two proposed liquefied natural gas (LNG) export projects in Oregon are stepping up the pace of their marketing efforts for both customers and gas suppliers to their envisioned tolling facilities.
More Than 1.4 Bcf/d of New Capacity Opening in Northeast
Tennessee Gas Pipeline and Texas Eastern Transmission are ready to “let ‘er rip” Nov. 1, opening up more than 1.4 Bcf/d of new pipeline capacity to New York, New Jersey and New England.