Moved

A pair of bills designed to tap “affordable natural gas in the MarcellusShale” and bring gas service to more consumers in Pennsylvania has been approved by the state’s Senate and moved to the House of Representatives for consideration.

When U.S. natural gas prices finally moved into $4.00/MMBtu territory earlier this year, there wasn’t any rush to ramp up onshore activity, but as each month passes, it’s becoming clear that a “large wave” of domestic demand is about to unfold, according to Barclays Capital.

Natural gas prices have moved higher in recent months, and some producers are taking the opportunity now to tweak their capital expenditures in preparation for better returns in 2014 and beyond, a Genscape Inc. executive said last week.

When U.S. natural gas prices finally moved into $4.00/MMBtu territory earlier this year, there wasn’t any rush to ramp up onshore activity, but as each month passes, it’s becoming clear that a “large wave” of domestic demand is about to unfold, according to Barclays Capital.

Despite disappointing earnings at Consol Energy Inc. during the first quarter, the company reported 10.7 Bcfe of production in the Marcellus Shale, a 60% increase that signaled that the play is becoming increasingly important for the coal and natural gas producer.

Major environmental groups leading opposition to the northern portion of the proposed $7 billion, 1,700-mile Keystone XL oil pipeline project from Alberta to refineries in the Gulf of Mexico region lashed out at the U.S. State Department last Friday for not making public the comments being collected on the project’s draft supplemental environmental impact statement (see Shale Daily, March 4). Effectively, the only way to hear and respond to public comments on the draft study will be at a hearing scheduled for April 18 in Grand Island, NB, said a Friends of the Earth spokesperson, calling the move “unusual.” This is prompting the foes of Keystone XL to claim the State Department is violating public transparency practices followed by other federal agencies regarding draft environmental studies. The stakeholders are in the middle of a 45-day comment period on the proposed northern portion of TransCanada Corp.’s controversial tar sands oil pipeline from Western Canada to Cushing, OK.

Last year proved challenging for the North American oilfield sector, as operators moved rigs from natural gas to more lucrative liquids targets and an overcapacity in pressure pumping continued to impact margins. This year won’t be much better, Halliburton Co.’s management team said Friday.

Last year proved challenging for the North American oilfield sector, as operators moved rigs from natural gas to more lucrative liquids targets and an overcapacity in pressure pumping continued to impact margins. This year won’t be much better, Halliburton Co.’s management team said Friday.

The Public Utilities Commission of Ohio (PUCO) moved the state further toward retail deregulation last week, approving settlements with Dominion East Ohio Gas and Columbia Gas of Ohio that would allow the local distribution companies (LDC) to gradually move out of the merchant function starting with nonresidential customers.