Midcontinent

Although influences such as weather forecasts and record-setting storage inventories were on the weak side, only a couple of points (OGT in the Midcontinent and NOVA Inventory Transfer in Western Canada) were lower Tuesday.

Marcellus Shale natural gas pipeline takeaway capacity will jump to 8.5 Bcf/d by 2013, more than double its current level, according to Bentek Energy LLC.

A Houston-based oilfield services company Tuesday pleaded guilty to a violation of the Clean Water Act (CWA) in connection with the hydraulic fracturing (fracking) of a natural gas well in Oklahoma, according to the Department of Justice (DOJ).

Cabot Oil & Gas Corp. is backing out of the Rockies to focus on Appalachia and the Midcontinent.

Cabot Oil & Gas Corp. is backing out of the Rockies to focus on Appalachia and the Midcontinent.

Cabot Oil & Gas Corp. is backing out of the Rockies to focus on Appalachia and the Midcontinent.

It’s well documented by now that due to low natural gas prices a number of producers and oilfield service companies have been switching drilling efforts and asset buildup from the primarily dry gas Haynesville to “wetter” [that is, richer in crude oil and natural gas liquids (NGL)] plays such as the Eagle Ford and Marcellus. But quite a few in the industry see Haynesville as remaining a strong shale resource and eventually strengthening. It may take a few years, but many expect gas prices to eventually begin making up for ground lost to the soaring crude market.

EOG Resources Inc. has taken its Marcellus Shale leasehold off the market because it’s a “core holding” and big plans are on the table to develop it once natural gas prices recover, CEO Mark Papa said Tuesday.

Southern California Gas did not extend a two-day high-linepack OFO beyond Friday.