A California oil and gas regulator on Tuesday characterized the state’s latest revised draft hydraulic fracturing (fracking) rules as going beyond any other state’s since the law mandating them (SB 4) applies to all well stimulation activity, fracking just being part of what the recently revised rules cover.
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Gas Export Authorization Could Bring on Haynesville Production; Export Pricing a Problem
It wouldn’t be a stretch for the United States to ramp up production to serve a 10 Bcf/d liquefied natural gas (LNG) export market by 2020, but whether the prospective exports would cause higher domestic natural gas prices could hinge on whether those exports are tied to Henry Hub gas or to or higher Brent crude equivalents, according to Patrick Rau, Natural Gas Intelligence (NGI) director of strategy and research.
Firm Cash Market Unable to Lift Futures; July Up a Hair
Natural gas for delivery Wednesday posted steady gains at most locations in Tuesday’s trading. Locations impacted by high temperatures, such as the East Coast, saw the greatest gains, with some points advancing more than $1.
Industry Briefs
Kinder Morgan Energy Partners LP (KMP) has expanded its contract with General Dynamics NASSCO for the design and construction of an additional 50,000 deadweight ton liquefied natural gas fueled-conversion-ready petroleum products tanker with a 330,000 bbl cargo capacity. Construction is scheduled to begin in the fourth quarter of 2015 with delivery slated for the second quarter of 2017. The tanker will be constructed as a sister tanker to the four Jones Act tankers KMP currently has under construction at the NASSCO shipyard in San Diego. Construction of the new tanker is supported by a long-term charter with a major shipper and is evidence of its commitment to transporting domestic crude oil, condensate and refined products for the domestic market, KMP said.
U.S. Top NatGas Producer, North America Only Region with Above-Average Consumption, Says BP
North America was the only region in the world with above-average growth in natural gas consumption last year, and the United States remained the world’s leading gas producer, albeit at a slower pace, BP plc reported Monday in its highly anticipated annual energy economic review.
FERC Staff Gives Environmental Nod to Freeport LNG
FERC staff issued the final environmental impact statement (FEIS) for the Phase II Modification Project and the Liquefaction Project proposed by Freeport LNG and found the projects’ impacts would not be significant provided the developer incorporate planned and suggested mitigation measures, Commission staff said.
California Revised Draft Fracking Rules Released
Revised draft hydraulic fracturing (fracking) rules including a call for reporting any related quake activity of magnitude 2.0 or greater were released Friday by the California Department of Conservation’s Division of Oil, Gas and Geothermal Resources (DOGGR). New definitions and expanded requirements are included in the 29-page draft.
Lower 48 Oil, NatGas Bounty Dominating Globe, Says BP
U.S. net oil imports last year fell to 6.5 million b/d, 47% below the 2005 peak, while net imports of natural gas dropped 13%, as exploration in the Lower 48 states delivered an energy bounty that eclipsed every other region in the world, BP plc economists said Monday.
Six-Year Old Case Alleging BP Price Manipulation Going Another Round
The six-year old FERC case over allegations that BP America Inc. manipulated Houston Ship Channel (HSC) prices continued Monday in a hearing before an administrative law judge on whether to limit the Office of Enforcement’s (OE) request for five years of price data from the IntercontinentalExchange Inc. (ICE) and McGraw-Hill’s Platts gas publications.
ConocoPhillips’ Duncan Talks Utica, ISO-NE, FERC Gas Day Proposal
A natural gas marketing expert said it’s unclear if producers in the Utica Shale will face problems in the future for not buying liquids pipeline capacity. Meanwhile, competing proposals to solve the riddle of gas use for power generation in New England are moving forward, the odds are against another brutal winter next season, and a proposal by FERC to improve coordination between interstate pipelines and gas-fueled power plants will encounter some obstacles.