natural gas

Norse Shifts to Chapter 7 Bankruptcy, Faces Liquidation

After receiving insufficient bids for its assets in New York State, two subsidiaries of Norway’s Norse Energy Corp. ASA have entered Chapter 7 bankruptcy and face total liquidation.

October 18, 2013

Weekly Gains Seen Across The Board

Price-wise it was a solid week for natural gas as all regions of the country posted double-digit gains with the exception of the infrastructure-challenged Northeast. Only a handful of points slid into the loss column. Nationally, prices averaged a 13 cent gain to $3.74, while regionally the Rocky Mountains outdid everyone with a 21 cent gain to $3.74. The Northeast lagged the pack with a modest 4 cent advance. Of individual points, Northwest Sumas posted the greatest move rising 25 cents to $3.83 and Tennessee Zone 4 Marcellus had the largest loss of 49 cents to $1.47.

October 18, 2013

North Dakota Producers Face Lawsuits for Flaring

Ten lawsuits seeking class action status have been filed by mineral rights owners against North Dakota oil/natural gas operators alleging the loss of millions of dollars in royalties due to large amounts of flared associated gas during the past six years.

October 18, 2013

Report Says Shale Has Turned North America ‘Upside Down’

A survey of world energy resources conducted by the World Energy Council (WEC) said the rise of shale gas in North America had turned the continent “upside down,” adding that it was one of several principal drivers to shape global energy supply and use over the past 20 years.

October 17, 2013

Judge Voids New Jersey’s Subsidy Plan for New Power Plants

A New Jersey Board of Public Utilities (BPU) plan to have ratepayers subsidize the cost to build new natural gas-fired power plants has been ruled unconstitutional by a judge in the U.S. District Court for the District of New Jersey.

October 17, 2013

In Familiar Refrain, Marcellus Drives Range to Record Production

Range Resources Corp. announced another record high for quarterly production — this time achieving 960 MMcfe/d for 3Q2013– thanks in large part to the continuing success of its drilling program in the Marcellus Shale.

October 17, 2013

Alternative Fuels: Focus Shifts to Passenger Cars

General Motors Co. (GM) CEO Dan Akerson said Wednesday that GM plans to introduce next year a bi-fuel natural gas/gasoline version of its Impala passenger car offering a driving range of up to 500 miles.

October 17, 2013

West Coast Cash Plunges; Futures Sans Storage Report A Non-Event

Natural gas prices for Friday physical delivery on average fell 9 cents in Thursday’s trading. It was a tale of two coasts as West Coast points suffered hefty double-digit losses within a weak power environment and a nominal weather outlook. East Coast locations were mixed with prices a few pennies on either side of unchanged.

October 17, 2013

Montana, Wyoming Water Fight Trial Begins

A lawsuit involving coalbed methane (CBM) development that dates back more than a decade will get its day in court beginning Wednesday when a federal trial gets underway in Billings, MT to determine if Wyoming should be held liable for alleged water losses in tributaries of the Yellowstone River.

October 17, 2013

Plains GP Holdings Nets $2.82B in Year’s Biggest IPO

Houston-based Plains All American Pipeline LP’s recently formed general partner, Plains GP Holdings, on Wednesday raised $2.82 billion in the nation’s largest initial public offering (IPO) so far this year. The IPO offered 128 million shares at $22/share, and after the first day of trading the closing price settled at the offered amount.

October 17, 2013