natural gas data

Chief Oil & Gas and two working interest partners have paid $500 million to Chesapeake Appalachia LLC to acquire MKR Holdings LLC, a deal that includes 130 MMcf/d of production, approximately 40 operated wells waiting on completion or pipeline, and about 75,000 gross-acre leasehold in Bradford, Lycoming, Sullivan, Susquehanna and Wyoming counties in Pennsylvania’s Marcellus Shale, the privately-owned company said Wednesday.

Over the objections of Republican leaders, the Senate Wednesday overwhelmingly passed a two-year bipartisan budget deal that includes a treaty that would remove the ban on oil and natural gas development along the U.S.-Mexico boundary in the Gulf of Mexico.

Prices of natural gas for delivery Thursday inched higher across much of the country except for in the East, where prices dropped from a dime to $1 at most spots, and up to $10 at some often constrained points serving the New England market.

In an effort to reduce operating costs and emissions from oilsands mining in northern Alberta, a subsidiary of Royal Dutch Shell plc has signed an agreement with Caterpillar Inc. to test a new engine and fuel mix using liquefied natural gas (LNG).

Steel manufacturer Nucor Corp. and its drilling partner, Encana Corp., have agreed to temporarily suspend drilling new natural gas wells, citing weak gas prices.

The Interior Department over the past couple of years has taken action, particularly in the offshore, to ensure that taxpayers receive a fair return on oil and natural gas produced on federal lands, but it has not taken similar steps onshore, according to a new report released by the Government Accountability Office (GAO).

The U.S. shale revolution and the abundance of cheap natural gas, natural gas liquids (NGL) and oil it provides are drawing industries back to the country. That is expected to continue, but there are risks to the growth story, analysts at Standard & Poor’s Ratings Services (S&P) said in a recent note. Commodity prices and the potential for further regulation are the main things to watch.

There are indicators that natural gas prices may have bottomed out in North Dakota and there could be the start of a long, slow trend for price increases starting next year, the state’s top oil/gas official said in reporting the state’s latest increased production statistics.

The year-end lull that comes with the onset of winter is likely to give way next year in North Dakota to a million-barrel-a-day oil and natural gas industry that will see a number of positive changes, including decreases in production costs and amounts of flared associated gas, along with continuing technology advances in drilling operations, the state’s chief oil/gas official said Friday.