Two top political advisers to New York Gov. Andrew Cuomo held meetings with the heads of two state agencies at the heart of the debate over whether to allow high-volume hydraulic fracturing (HVHF) in the state, according to documents obtained through a freedom of information request.
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Dominion Seeks OK for Two Appalachia-Sourced NatGas Pipeline Projects
Dominion has asked federal regulators to OK two natural gas pipeline projects — one to serve Upstate New York, the other for West Virginia — that would rely on home-based supply from the Appalachian Basin.
Market Shows Broad Gains Again; Tropical Activity Stirring
Spot natural gas prices for Wednesday delivery posted another strong day of advances as below-normal temperatures across northern-tier market points contrasted with above normal readings in metropolitan areas further south. Gains were seen across the board with only thinly traded market point seeing a loss.
Lower 48 Gas Withdrawals Up 1.6% in March, EIA Reports
Gross withdrawals of natural gas in the Lower 48 during the month of March increased by 1.6% compared to the preceding month to 76.68 Bcf/d, the largest increase in more than a year, according to the U.S. Energy Information Administration (EIA).
Industry Briefs
Penn Virginia Corp. (PVA) has agreed to sell its Mississippi assets to an undisclosed buyer for gross cash proceeds of $72.7 million. The sale is expected to close in July, subject to customary conditions. The effective date of the sale is April 1, 2014. The properties, which target the Selma Chalk with horizontal wells, had net production of about 11.9 MMcfe/d during the first quarter, almost 100% of which was natural gas. As a result of the divestiture, the company’s 2014 production will decrease by about 1.9 Bcfe. Estimated proved reserves associated with the divested properties at year-end were 85.3 Bcfe, 69% of which was proved developed and about 100% of which was natural gas. During the first quarter, PVA set a quarterly oil production record, thanks to a 15% increase in output from its Eagle Ford Shale operations as it continued to grow and delineate its South Texas acreage (see Shale Daily,May 14).
Cash Leads Futures Higher In Weather-Driven Trading
Spot natural gas prices were able to post double-digit gains in Monday’s trading as near-term temperature forecasts called for above-normal temperatures and cast doubt about continuing hefty additions to storage.
Enviros: Industry Executives Could Be Liable for Opposing Climate Change Mitigation
In a letter sent to the CEOs of 32 global energy companies and 44 insurance firms that provide risk management services to them, a group of nongovernmental organizations (NGO) warned each executive that he or she may be subject to personal liability risks in the future if their organizations oppose efforts to rein in climate change.
Pipeline Leak Detection Must Step Up, Report Says
A new “norm” in natural gas pipeline safety programs needs to be a proactive, sustainable approach to leak detection, said PricewaterhouseCoopers LLP (PwC). It calls for a “cultural transformation” in pipeline operators.
Latest Goodrich TMS Well Continues Winning Streak
Goodrich Petroleum Corp. has turned in additional encouraging well results from the Tuscaloosa Marine Shale (TMS). Analysts following the TMS progress of Goodrich and others said Monday they are encouraged but still more needs to be learned.
EPA Proposal Would Slash Power Plant Carbon Emissions 30% by 2030
The Obama administration on Monday issued proposed new rules to cut carbon emissions from the power generation sector 30% below 2005 levels by 2030, a move cautiously embraced by the natural gas industry, characterized as a “coal killer” by some critics, and hailed by environmental groups as a major effort to address climate change.