The Interior Department’s first assessment of the shale potential of Alaska’s North Slope found the potential for up to 2 billion bbl of undiscovered, technically recoverable oil and 80 Tcf of undiscovered, technically recoverable gas, according to the U.S. Geological Survey (USGS). “We looked under the entire North Slope of Alaska,” said USGS Director Marcia McNutt, who called it a landmark study. The results will enable industry to make “good seismic decisions,” will guide their investments, said Anne Castle, assistant secretary of water and science. Alaska’s shale resources “hold great promise,” but production has never been attempted due to the infrastructure challenges, Castle noted. Three source rocks of the Alaska North Slope were assessed in the study: the Triassic Shublik Formation, the lower part of the Jurassic-Lower Cretaceous Kingak Shale, and the Cretaceous pebble shale unit-Hue Shale, according to USGS. It said those shale formations are known to have generated oil and gas that migrated into conventional accumulations, including the Prudhoe Bay field. But the shales also likely retain oil and gas that did not migrate. If the shale gas should be developed, it’s remains an open questions as to whether it could make its way to the United States, which lacks pipelines and/or a West Coast liquefied natural gas (LNG) import terminal for the gas to be delivered. The nation’s sole export terminal, located in Kenai, AK, exports LNG to Asian markets.
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Natural Gas Prices Dominate Calpine Earnings Report
Calpine Corp., which is one of the nation’s largest independent electricity generators, has experienced major impacts on its mostly natural gas-fired generation plant fleet from continuing low gas prices, according to senior executives who reported more red ink during a conference call with financial analysts Friday.
Calpine Files EPA Objection; Aims to Protect Gas Plants
With one of the nation’s largest natural gas-fired electric generation plant fleets, Calpine Corp. on Friday filed an objection with the federal Environmental Protection Agency (EPA) over its proposed settlement with diesel-powered demand response (DR) operators. The proposed settlement relates to a pending appeal of EPA emissions restrictions.
Warm Weather, Shale Production Holding Down 2012 Price Forecasts
Unusually warm winter weather and the ongoing production boom from the nation’s shale plays will help keep natural gas spot prices down in 2012, the Energy Information Administration (EIA) and analysts at Bank of America Merrill Lynch (BofA) said in separate reports Monday.
Mixed Market Sees Majority of Points Falling
Continuing cold weather near the East Coast and in Eastern Canada contrasted with milder forecasts for the western two-thirds of the nation to produce mixed price movement Tuesday. A modest majority of locations softened. The restoration of industrial demand following a holiday weekend appeared to have little market impact.
WSI Expects Colder-Than-Normal Winter Across Northern U.S.
Winter weather has been relatively mild so far, but the nation’s northern tier can expect temperatures to average colder than normal until at least early spring, according to forecasters at Andover, MA-based Weather Services International (WSI). And in their first look at the 2012 Atlantic hurricane season, the forecasters said they expect expect 12 named storms, including seven hurricanes, three of them intense hurricanes (Category 3 or higher).
WSI Expects Colder-Than-Normal Winter Across Northern U.S.
December weather has been relatively mild so far, but the nation’s northern tier can expect temperatures to average colder than normal until at least early spring, according to forecasters at Andover, MA-based Weather Services International (WSI).
Murkowski: Neighboring Countries Could Overtake U.S. in Offshore
While the Obama administration last Tuesday proposed only a “modest expansion” of nation’s offshore drilling program for the next five years (see Daily GPI, Nov. 9), the United States’ neighbors — Cuba, Mexico, the Bahamas, Canada and Russia — are aggressively moving ahead on offshore development adjacent to U.S. borders, warned Sen. Lisa Murkowski Monday.
Shale Seen as Western Canada’s New Gas Frontier
Western Canadian natural gas production is relocating, not dying, the nation’s top pipeline company has told the National Energy Board (NEB).
Mexico Natgas Discovery May Boost Reserves Sixfold
Mexico’s energy secretary said the nation’s natural gas reserves could be multiplied as much as sixfold after the discovery of large shale gas deposits in the country’s north and east, and could enable the country to stop importing natural gas.
