Months

The U.S. Energy Information Administration (EIA) said it estimates that shale formations in the United States contain 483 Tcf of unproved technically recoverable natural gas and 33.2 billion bbl of unproved technically recoverable tight oil.

Oregon regulators extended for another 12 months the same portfolio of retail energy options for private-sector natural gas and electric utility customers throughout the state. The Oregon Public Utility Commission (PUC) followed the recommendation of a third-party options committee in letting stand current programs for residential and nonresidential customers of NW Natural, PacifiCorp and Portland General Electric Co. The programs are designed to give utility customers options for supporting alternative energy development. Customers will continue to be able to voluntarily participate in NW Natural’s greenhouse gas emissions offset program and the two electric utilities’ offers for time-of-use, green source and wind power sources.

The shale development frenzy of the last couple of years has cooled dramatically in recent months as natural gas prices, and more recently crude and natural gas liquids prices, have plummeted. Out of the 13 U.S. plays for which NGI’s Shale Daily tracks unconventional rig counts, nine are showing a lower level of drilling activity than one year ago, with most of them recording a drop of 30% or more.

The Commodity Futures Trading Commission (CFTC) Friday extended by two months the deadline for comments on initial and variation margin requirements for uncleared swaps. The comment period was to close on July 11, but it has been extended until to Sept. 14.

Global Infrastructure Partners (GIP) has completed its first multi-asset transaction with Chesapeake Energy Corp. to acquire the profitable midstream businesses, closing Monday on the $2 billion acquisition of Chesapeake Midstream Partners LP (CHKM).

At the request of the oil and natural gas industry, the Obama administration will extend by two months the public comment period on proposed Bureau of Land Management (BLM) rules governing hydraulic fracturing (fracking).

At the request of the oil and natural gas industry, the Obama administration will extend the public comment period on proposed Bureau of Land Management (BLM) rules governing hydraulic fracturing (fracking).

New Jersey regulators on Monday approved a $10 million pilot program by New Jersey Natural Gas (NJNG) to add up to seven compressed natural gas (CNG) fueling stations in the next 12 months, which would give the state a total of 10 public fueling stations.

Relatively warm weather during winter’s final months and a halting economic upturn continued to keep a lid on natural gas sales during the first quarter of 2012.read more