Six months after selling its Appalachian Basin portfolio to focus on the oily Eagle Ford Shale, Penn Virginia Corp. (PVA) said its operations in the latter were moving forward while proved reserves of oil and natural gas liquids (NGL) had increased during 2012.
Articles from Months
California’s natural gas power generation bill may be higher than normal in the first months of 2013 as the 2,200 MW San Onofre Nuclear Generating Station was shuttered. Nuclear Regulatory Commission (NRC) Chair Allison Macfarland this week was at the plant for an update but hasn’t indicated when at least one of the two units would restart. Majority owner/operator Southern California Edison Co. has asked the NRC to allow at least Unit 2 to come back to 70% of capacity.
A subsidiary of Royal Dutch Shell plc has been given another six months to decide whether to purchase property in western Pennsylvania for a proposed “world scale” ethane cracker in the heart of the Marcellus Shale.
An environmental group focused on recreation says industrial-scale development of oil shale is harmful to rivers and could require billions gallons of water annually, significantly more than what would be needed for hydraulic fracturing (fracking).
Raymond James & Associates Inc. on Monday raised its 4Q2012 natural gas price assumptions by 75 cents and lifted the 2013 forecast by 50 cents, predicting 1Q2013 price “spikes to near $5.00/Mcf.”
Warren Resources Inc. Monday said it closed on its previously announced deal to acquire additional natural gas and midstream assets from subsidiaries of Anadarko Petroleum Corp. in the Atlantic Rim Project area in Wyoming’s Washakie Basin.