The Texas Oil & Gas Association (TXOGA) supports Proposition 1, a proposed Texas constitutional amendment to authorize billions of dollars from oil and natural gas production tax collections to be directed to the State Highway Fund. Texas voters will consider Prop 1 on Nov. 4. “The oil and natural gas industry is a driving force of growth in Texas. To keep up with unprecedented growth, our state needs expanded infrastructure across the board, including transportation, water and pipeline infrastructure,” said Deb Mamula, TXOGA executive vice president. “Proposition 1 is an important first step to address our state’s transportation needs and does so in a way that doesn’t raise taxes or increase debt.” Prop. 1 would authorize disbursements each year from production taxes paid to the state by oil and natural gas operators.
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Strong New England, Great Lakes Balanced by Weak West, Marcellus; Futures Steady
Physical gas for delivery Friday moved little following the release of the weekly Energy Information Administration (EIA) storage report.
North Dakota’s August Oil, NatGas Output at All-Time High
Oil and natural gas production continued to climb in North Dakota in August, but at a more modest pace, the state’s latest monthly statistics revealed Wednesday.
Pemex Unit is Only Shipper on Tennessee Expansion to Mexico
Petroleos Mexicanos’ (Pemex) MexGas Supply has taken all of the capacity in Tennessee Gas Pipeline Co.’s (TGP) South System Flexibility Project.
Columbia Proposal Over Penalties Upsets Shippers, Marketers
A proposal by Columbia Gas Transmission LLC to change the way it levies penalties for “takes” in excess of total firm entitlements (TFE), failure to interrupt service (FTI), and failure to comply with operational flow orders (OFO) has raised the ire of natural gas shippers and marketers.
Natural Gas Boom a Catch-22 in Slowing GHG Emissions, Say Researchers
Using plentiful and inexpensive natural gas alone won’t slow the growth of global greenhouse gas (GHG) emissions over the long-term and may in fact contribute to it, according to an analysis by a team of scientists and researchers who worked with the U.S. Department of Energy’s Pacific Northwest National Laboratory (PNNL).
All NatGas Cash Points Decline, Bringing Futures Along for the Ride
Every point fell in Wednesday’s trading for Thursday physical gas delivery. New England points took the biggest hits, falling by double-digits, but similar losses were also noted on the West Coast as slipping temperatures joined forces with declining power loads and weak next-day power prices.
Virginia’s Energy Vision Supports Pipelines, Offshore Drilling, Vehicle Conversions
Virginia will pursue offshore oil and natural gas drilling; support the improvement and expansion of intrastate and interstate gas pipelines; and expand its program of purchasing or converting state and local government vehicles to run on natural gas or propane, as part of an energy plan unveiled Tuesday by Gov. Terry McAuliffe.
U.S. Unconventional Oil More Immune to Global Crude Price, Says IEA
Even if crude oil prices were to drop to $80.00/bbl, U.S. unconventional oil from tight fields should remain profitable, according to the International Energy Agency (IEA).
Gulfport’s 3Q Production Exceeds Guidance
Gulfport Energy Corp. surprised some financial analysts on Wednesday when it announced that third quarter production finished 6% ahead of guidance, setting the stage for a strong year-end finish, as volumes continued trending higher through the first two weeks of October.
