The Regulatory Commission of Alaska (RCA) has denied an application filed by Fairbanks Natural Gas LLC (FNG) and approved an application filed by Interior Alaska Natural Gas Utility (IANGU) for the right to distribute natural gas in the Fairbanks North Star Borough area. In denying the application by FNG, commissioners said the privately owned utility relied too heavily on presumed gas demand from Golden Valley Electric Association. The commission found that the FNG application overstated expected demand from Golden Valley by 0.5 to 1.5 Bcf per year. Three local area governments formed IANGU about a year ago to serve an area beyond the existing FNG service territory following dissatisfaction with the rates charged by FNG. FNG, which is owned by Minnesota investors, had also applied to the RCA to serve the same territory.
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Record Storage Draw Sends Bulls On A Run
Physical natural gas trading Thursday for Friday delivery was muted for much of the country, with gains or losses of a few pennies, except for in the Northeast, which saw another day of steep price drops. The real news Thursday was made over in the natural gas futures arena, where a record-setting storage withdrawal report opened the gates for the bulls.
Well Density, Spacing Changes Accelerate in North Dakota
Dozens of requests will be heard Wednesday and Thursday by the North Dakota Industrial Commission’s (NDIC) hearing panel, reviewing operator requests for increased well densities and spacing unit changes in the Bakken/Three Forks formation.
DJ Basin, Marcellus Are the Stars of Noble’s Five-Year Plan
Noble Energy’s U.S. onshore activities are in the “early days of a tremendous story,” management said at the company’s analyst day Tuesday. That story is mainly being written in two books: the Denver-Julesburg (DJ) Basin and the Marcellus Shale, and they both look to be best sellers.
Comstock All In for Oil Next Year in Eagle Ford, TMS
Comstock Resources Inc. plans to spend $450 million on drilling and completions next year in its core South Texas Eagle Ford play, as well as it’s emerging East Texas Eagle Ford and in the Tuscaloosa Marine Shale (TMS). All drill bits will be pointed at oil with no gas wells planned, the company said.
New Jersey Senator Joins Anti-Oil Export Call
U.S. Sen. Robert Menendez (D-NJ) has seized upon recent comments by Energy Secretary Ernest Moniz to urge the Obama administration to not allow export of U.S. crude oil.
Consol to Employ Electric Engines For Pittsburgh Airport Drilling
Billing its plan to drill 45 Marcellus wells at the Pittsburgh International Airport (PIT) a “flagship endeavor,” Consol Energy Inc. outlined plans on Tuesday to use electric engines to power both its vertical and horizontal drilling rigs in order to comply with federal environmental guidelines.
Four New LNG Export Approvals Brings Canadian Total to 14.5 Bcf/d
Total Canadian volumes approved for overseas sales of liquefied natural gas (LNG) jumped this week to 14.5 Bcf/d or 5.3 Tcf/year, adding up to 139.6 Tcf over the life of the licenses, when the National Energy Board (NEB) granted export licenses to four projects.
NatGas Returns as Texas Sets Another Upstream Record
Natural gas is back. At least it is in Texas, according to the latest barometer of oil and gas activity in the state, which shows that higher wellhead prices have boosted the value of Lone Star state gas production this year through October by 36.5%.
With More Cash on Hand, EQT Outlines Big Plans for 2014
EQT Corp. outlined a $2.4 billion capital expenditure (capex) budget on Tuesday, lifted by plans to resume drilling operations in Kentucky’s Huron Shale formation and intent on putting the $740 million it earned from selling its gas utility toward boosting liquids volume and further developing its expansive Marcellus Shale position.
