natural gas

Physical gas for weekend and Monday delivery continued the trend of lower prices in Friday’s trading. Mild weather in the Northeast prompted double-digit declines, but prices in the Midwest and Midcontinent moved less drastically.

Red ink spilled far and wide in weekly physical natural gas trading as the low-demand characteristics tied to the shoulder season were more than evident. All actively traded points followed byNGIshowed losses ranging from just over a dime to as much as 90 cents. For the week ended May 16 theNGIWeekly Spot Gas Average nationally fell 28 cents to $4.27.

Spot gas for Friday delivery continued to work lower in Thursday’s trading as mild weather and a soft power environment pressured prices. Traders also made sure they got their deals done ahead of the release of Energy Information Administration (EIA) storage data.

The California Energy Commission (CEC) has approved $5 million in grants for environmental research aimed at improving natural gas efficiency in various industrial applications. As part of its gas research program, the five-member CEC agreed to fund six projects focused on combined heat and power systems and air quality issues associated with renewable natural gas. The funds will support development and demonstration research at Desert Power Inc., Etagen, Cha Corp., and three California universities.

During the first quarter Penn Virginia Corp. (PVA) set a quarterly oil production record, thanks to a 15% increase in output from its Eagle Ford Shale operations as it continues to grow and delineate its South Texas acreage.

Minor earthquakes blamed on drilling waste disposal wells have been shaking up small towns overlying the Barnett Shale of North Texas for a while now. On Monday, state lawmakers put their ears to the ground during the first hearing of a subcommittee formed on the matter, hearing from local mayors, academic, environmental, regulatory and industry representatives.

Oil and natural gas operators in the robust North Dakota production fields are facing a lot of new regulatory requirements potentially from both state and federal government, beginning June 1 with a new state requirement for gas capture plans with each new drilling permit application, as underscored Tuesday by the state’s chief oil/gas official.

A renewed attempt by President Obama on Wednesday to invest in the nation’s aging infrastructure, as well as streamline the federal permitting process, now a slow-moving spaghetti loop of agencies and stakeholders, was lauded by the natural gas industry.

The U.S. Environmental Protection Agency (EPA) should protect public health by setting air pollution limits on oil and natural gas wells, and associated equipment near population centers, according to a coalition of 64 environmental and community groups.