natural gas prices

Anchor shippers have signed up for about 500,000 Dth/d of incremental capacity on the market path segment of Tennessee Gas Pipeline Co.’s (TGP) Northeast Energy Direct Project (NED) project to serve New England utilities and power generators with Marcellus Shale natural gas (see Daily GPI,Dec. 8, 2014). The market path segment of the project runs from Wright, NY, to Dracut, MA, and beyond and is scalable to 1.2 Bcf/d, or ultimately 2.2 Bcf/d. A project in-service date of November 2018 is planned, the Kinder Morgan Inc. pipeline said. Anchor shippers with binding precedent agreements include National Grid, 186,963 Dth/d; Liberty Utilities, 115,000 Dth/d; Columbia Gas of Massachusetts, 114,300 Dth/d; Connecticut Natural Gas Corp., Southern Connecticut Gas Corp., The Berkshire Gas Co., The City of Westfield Gas & Electric Light Department and others. TGP is continuing to negotiate with potential NED shippers, including electric distribution companies, and expects to announce additional commitments.

WPX Energy Inc. is cutting its workforce by 8% and moving most of its regional office staff in Denver to the Tulsa headquarters.

Tallgrass Energy Partners LP (TEP) has closed on the acquisition of an additional one-third interest in Tallgrass Pony Express Pipeline LLC for $700 million in cash, increasing its stake to 66.7%.

Houston-based Cal Dive International Inc., which provides marine contracting services in the Gulf of Mexico (GOM) and northeastern United States, filed for U.S. bankruptcy protection Tuesday.

A broad assessment of 40 years of national water quality data was not enough to accurately gauge the possible impacts on watersheds of unconventional natural gas and oil development, according to a report by the U.S. Geological Survey (USGS).

By a 3-to-1 margin, residents in the Los Angeles suburb of Hermosa Beach on Tuesday rejected a proposed plan by E&B Natural Resources to drill up to 34 wells from a 1.3-acre plot of city-owned land near recreational beaches.

When it comes to commercializing North Slope natural gas, Alaska lawmakers want the state’s governor to stick with Plan A and not muddy the waters by promoting an alternative project.

Spectra Energy Partners LP’s Algonquin Gas Transmission LLC has received FERC authorization for its Algonquin Incremental Market (AIM) Project to carry 342,000 Dth/d of Marcellus/Utica shale natural gas from Ramapo, NY, to citygates in Connecticut, Rhode Island and Massachusetts.

ExxonMobil Corp. CEO Rex Tillerson doesn’t see oil prices strengthening anytime soon. Natural gas prices swooned on North America’s surplus, and in many ways, oil is taking the same route, he said Wednesday.