As a formal set of proposed rules on hydraulic fracturing (fracking) moves through preliminary public review in California, Gov. Jerry Brown last Wednesday expressed confidence that his state’s oil and gas regulators would apply “science and common sense” to frack regulations.
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Cash price moves in the Northeast and East Thursday once again separated from the rest of the market, with the overall average market gain a stout 33 cents, but the remainder of market points showed a rise of just over a nickel. Many eastern points posted multi-dollar gains, recording yet more price records (see Daily GPI, Jan. 24), but higher prices were posted at nearly all locations, with just a handful of points losing a few pennies or less.
With few exceptions, all points scored at least double-digit gains Monday with some points putting in dollar-plus moves as cold weather sliced into the West over the weekend and was forecast to march eastward. On average gains were 28 cents overall, with the volatile Northeast points scoring the most gains. At the close February natural gas futures had added 4.6 cents to $3.373 and March was higher by 4.2 cents to $3.378. February crude oil gained 58 cents to $94.14/bbl.
As natural gas moves into various segments of the transportation sector, there is CNG, LNG and now DNG — diesel natural gas. A unit of Oklahoma-based Chesapeake Energy said Thursday it is offering a conversion kit to allow diesel-powered vehicles to run on DNG.
Atlas Pipeline Partners LP (APL) has completed a 60 MMcf/d expansion of its Velma system in the Woodford Shale of Oklahoma, increasing capacity to 160 MMcf/d.
Thursday’s cash market featured mostly small moves up or down from flat. Although cooling trends were approaching in the Northeast, South and parts of the Midwest, really frigid weather is due to remain fairly scarce in North America outside central and western Canada. The previous day’s screen drop of 14.3 cents contributed to cash losses moderately outnumbering the gains.
A sweeping pipeline safety bill backed by industry and safety advocates alike passed the U.S. House of Representatives with bipartisan support on Monday and now moves on to the Senate.
Better known just a few years ago as a deepwater Gulf of Mexico (GOM) force, Noble Energy Inc. has made some strategic moves in the past few years that have transformed the company and prepared it for double-digit production growth for up to a decade, CEO Chuck Davidson told investors last week.
Better known just a few years ago as a deepwater Gulf of Mexico (GOM) force, Noble Energy Inc. has made some strategic moves in the past few years that have transformed the company and prepared it for double-digit production growth for up to a decade, CEO Chuck Davidson told investors Tuesday.