The Texas Oil & Gas Association (TXOGA) has named Todd Staples as its new president. Currently serving as Texas commissioner of agriculture, Staples will replace Rob Looney who is retiring at the end of 2014 after 26 years with the association. Staples was selected following a national search. “Innovations and investments by TXOGA’s 5,500 members are transforming the Lone Star State, creating jobs and providing opportunities for all Texans,” Staples said. “It will be my honor and privilege to work with this dynamic industry at a time when Texas energy production is anchoring our state’s economy and bolstering our nation’s energy security. The world is watching as Texas cements its place as a global leader in the energy arena.” Staples previously served as a Texas state senator, a state representative and as mayor pro tem of his local city council in Palestine, TX. He graduated with honors from Texas A&M University with a degree in agricultural economics.
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Physical NatGas Quotes Chase Weaker Futures Lower; Storage Build On Target
Physical natural gas traders sensing that Thursday’s storage report might just have some bearish consequences sold early and sold often as they attempted to get deals done before the release of government storage figures.
Industry Brief
Power generator PSEG Power LLC, a unit of Public Service Enterprise Group, has taken an equity stake in PennEast Pipeline Co. LLC’s proposed $1 billion, 100-mile pipeline from Pennsylvania to New Jersey, PennEast said Thursday. The pipeline would run from Luzerne County in northeastern Pennsylvania to Transco’s Trenton-Woodbury interconnection in New Jersey (see Shale Daily,Sept. 5;Aug. 12). The pipeline, which is projected to enter service in 2017, would transport up to 1 Bcf/d and is targeting Marcellus Shale gas supplies. Additional pipeline partners include AGL Resources; NJR Pipeline Co., a subsidiary of New Jersey Resources; South Jersey Industries; and UGI Energy Services (UGIES), a subsidiary of UGI Corp. PSEG Power, which would be a shipper on the pipeline, will have a 12% interest in PennEast. The other PennEast Pipeline Co. members each will have 22% interest. Preliminary engineering studies have begun, and a formal application is to be filed with the Federal Energy Regulatory Commission next year. UGIES is the project manager and would operate the pipeline.
Futures Dive Following On-Target Inventory Report
Natural gas futures spiraled lower Thursday morning following the release of government storage figures that were about what traders had expected. The injection of 90 Bcf was about equal to the average of analyst estimates, which ranged from 81 Bcf to 101 Bcf.
Center for Sustainable Shale Development Issues First Certification
The Center for Sustainable Shale Development (CSSD) on Thursday issued its first certification to Chevron Appalachia LLC.
NatGas Gives Lift to Diesel, Gasoline in New Partnership
Compressed natural gas (CNG) will be used to haul supplies of diesel fuel and gasoline under a partnership between Newport Beach, CA-based Clean Energy Fuels Corp. and energy supply/logistics company Mansfield Energy Corp.
Gastar Switching Focus to Oklahoma’s Hunton Oil Play Next Year
Gastar Exploration Inc. is poised to spend heavily in its Hunton Limestone oil play next year after approving a $257.3 million capital budget that mostly would go toward drilling, completion and infrastructure in Oklahoma.
Summit Utilities Subsidiary to Connect Mainers to NatGas Service
The Maine Public Utilities Commission has approved the creation of Natural Gas Conversion Co. (NGC), which is to provide “an affordable and timely process” for residents and businesses converting to natural gas, according to Summit Utilities. The new company will begin operations immediately, Summit said.
Proposed Bakken Gas Pipe Project Lacks Shippers, MDU Exec Says
An open season earlier this year has failed to generate enough interest to move forward with a major natural gas pipeline project from the Bakken to an interconnection in northwest Minnesota, an executive with a unit of Bismarck, ND-based MDU Resources Group told an analysts’ day meeting Wednesday in Las Vegas, NV.
DOE Expands Initiatives to Support U.S. Manufacturing, Energy Productivity
In its continuing effort to support President Obama’s goal of doubling energy productivity by 2030, the Department of Energy (DOE) said Wednesday it is expanding the Clean Energy Manufacturing Initiative to support the American manufacturing sector and launch the Accelerate Energy Productivity 2030 initiative.
