natural gas

Transcontinental Gas Pipeline Co.(Transco) is gauging interest in increasing firm storage service for up to 8.7 Bcf/d of withdrawal, 7.3 Bcf/d of injection and 73.1 Bcf of capacity at the Eminence Storage Field in Covington County, MS. The salt cavern storage facility in Transco’s Zone 4 has current capacity of almost 12 Bcf. The open season runs to July 16, with capacity available Aug. 1. For information, contact Mike Ledford at (713) 215-4929 or Rose Prevott at (713) 215-4396.

Another investigation by the Railroad Commission of Texas (RRC) has concluded that the evidence does not support allegations that Barnett Shale drilling and hydraulic fracturing activities contaminated a number of water wells with methane in the area of Range Resources Corp. gas wells.

Natural gas futures dropped Thursday morning following the release of government storage figures that were somewhat on the high side of what traders were expecting.

Spot natural gas for Friday delivery overall moved little, and large setbacks at Northeast and Marcellus points were more than offset by broad gains in the Gulf Coast, Rockies and California. East Texas was also strong.

Knowledgeable industry and academic sources following California’s Monterey Shale on Tuesday expressed little surprise or disagreement with the U.S. Energy Information Administration’s (EIA) 96% cut in its estimated technically recoverable reserves (TRR) in the Monterey. They stress, however, that this is more a reflection of current technology being deployed in the play than its long-term potential.

The UK’s Department of Energy and Climate Change (DECC) launched a consultation on proposals Friday designed to improve industry’s access to oil and natural gas deposits in shale formations in exchange for voluntary payments by companies to localities affected by their drilling.

Koch Industries Inc. unit Flint Hills Resources LLC is taking major propylene producer PetroLogistics LP and its general partner (PetroLogistics GP LLC) private in an all-cash deal worth about $2.1 billion.

Activist fund Relational Investors LLC, helmed by former T. Boone Pickens lieutenants, is becoming the biggest shareholder in Magnum Hunter Resources Inc. (MHR) with a 15% stake after investing $150 million.

U.S. natural gas production was 2.38 Tcf in February, up from 2.31 Tcf in February 2013, continuing a ramp-up that resulted in a record 30.17 Tcf production total in 2013, according to the Energy Information Administration’s (EIA) latestMonthly Energy Review(MER).