The nation’s natural gas resources, which have grown with the expanded potential of shale plays — including as much as 20 years supply from the Marcellus Shale — can be used to cost-effectively generate electricity, and any environmental burdens will come primarily from combustion when the fuel is used, not when it is extracted, according to a report from the Department of Energy (DOE).
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When the Heat’s Off, Coal v. Gas Prices Paramount
In the midst of one of the hottest summers on record nationally, high natural gas demand in the electric generation sector continues to dominate U.S. energy markets, but how much of this continues when temperatures cool in the fall will depend on the relative price of gas to coal and economic dispatch decisions by grid operators, according to RBN Energy LLC’s Sandy Fielden on the firm’s daily blog on Wednesday.
36,000 Shale Wells and Counting
There are roughly 36,000 shale wells in the five major shale basins in the United States that have produced nearly 23 Tcf of natural gas and 682 million barrels of oil and condensate, according to a tally gleaned from state regulatory records by Powell Shale Digest, a weekly newsletter specializing in North American shale news and research.
Drilling Technology Crushing Natural Gas, Oil Reserves Assumptions
How much more oomph can new drilling technology bring to the U.S. unconventional revolution? The United States likely will add 11 Bcf/d of natural gas to its reserves this year at total finding, development and completion costs under $3.00/Mcf, while a review of 45,000 unconventional oil wells is finding “tremendous” growth in oil reserves, preliminary IHS Inc. data indicate.
Polls: Public Opinion on Fracking in New York Mostly Unchanged
Two separate polls conducted in New York State have found that public opinion of hydraulic fracturing (fracking) hasn’t changed much over the past year.
U.S. E&P Spending Forecast to Jump 9.6% in 2012
A sharp drop in natural gas prices and recent weakness in oil prices hasn’t stalled too much U.S. exploration and production (E&P) spending, which is expected to jump by 9.6% to $143 billion this year, according to 239 domestic producers surveyed by Dahlman Rose & Co.
U.S. E&P Spending Forecast to Jump 9.6% in 2012
A sharp drop in natural gas prices and recent weakness in oil prices haven’t stalled too much U.S. exploration and production (E&P) spending, which is expected to jump by 9.6% to $143 billion this year, according to 239 domestic producers surveyed by Dahlman Rose & Co.
Qualifier for Permian Renaissance: High Prices
Permian Basin rig activity is projected to increase as much as 50% to more than 700 rigs in the next few years, which could be the biggest rig count increase of any U.S. oil and natural gas basin, according to U.S. Capital’s Cameron Horwitz, who directors the firm’s exploration and production (E&P) research.
Qualifier for Permian ‘Renaissance’: High Oil Prices
Permian rig activity is projected to increase as much as 50% to more than 700 rigs in the next few years, which could be the biggest rig count increase of any U.S. oil/gas basin, according to Cameron Horwitz, U.S. Capital’s director of E&P research and author of “Permian Basin: Renaissance in the Desert” (see Daily GPI, June 12). Crude oil production should increase by 750,000 b/d to 1.8 million b/d between now and 2018, Horwitz said.
Most Cash Points, Futures Take Seasonal Slide
Most cash market averages inched lower Tuesday with the exception of a handful of Northeast points, much of the Midcontinent and California locations, which posted gains.