natural gas

Industry Briefs

A northeast Ohio company has plans to open one of the state’s first third-party water treatment facilities to process flowback, brine and other wastewater that collects during the drilling process. Ohio favors injection wells to dispose of its oilfield waste, with nearly 98% of all brine water being disposed of in Class II injection wells. Iron Eagle Enterprises LLC, of Liberty Township is the first to receive a third-party permit. Plans call for constructing a 14,000 b/d, or 588,000 gallon, facility in Carroll County, where drilling activities have been robust. The plant is expected to employ as many as 50 people once it’s operational. No completion date has been announced.

November 27, 2013

Industry Briefs

Silverback Exploration LLC, a newly formed oil and gas exploration company, has received a $350 million equity commitment fromEnCap Investments. San Antonio-based Silverback will use the capital to pursue and develop unconventional resource play opportunities in the United States. Silverback is led by CEO George M. Young Jr., who most recently served as president of Collins and Young LLC.

November 27, 2013
Physical, Futures Chart Different Courses; January Adds 3 Cents

Physical, Futures Chart Different Courses; January Adds 3 Cents

Physical natural gas for Sunday and Monday delivery tumbled nearly 20 cents in Wednesday’s trading, yet if Boston, New York and Philadelphia are excluded from the analysis, the decline comes in at a more moderate 11 cents.

November 27, 2013

Broad Declines Offset Northeast Strength; December Expires Firm

Spot gas for Wednesday delivery on average fell a penny in Tuesday’s trading. However, if one is willing to assume that market dynamics in the transportation-challenged Iroquois-Algonquin corridor distort the broader national market, removing those prices shows a 6-cent decline overall.

November 26, 2013

Senate Bills Address Repair, Replacement of Old, Leaking Gas Pipelines

U.S. Sen. Edward Markey (D-MA) has introduced a pair of bills to speed up the repair and replacement of the nation’s natural gas pipelines, and to set up a funding mechanism designed to motivate utilities and states to complete the projects, with the federal government shouldering some of the costs.

November 26, 2013

Texas Gas Offering Ohio-Louisiana Capacity

Texas Gas Transmission is holding a binding open season through Jan. 13 for primary firm natural gas backhaul transportation service from Ohio’s Marcellus and Utica shales into Lebanon, OH, pipeline interconnects, with an ultimate destination to serve utilities in the Midwest and South.

November 26, 2013
Shale Oil Fattens Wallets In Texas, North Dakota

Shale Oil Fattens Wallets In Texas, North Dakota

Operators have turned to shales because that’s where the oil is. So it’s not surprising to find that shale towns are also where the money is, according to personal income data from the U.S. Bureau of Economic Analysis (BEA).

November 25, 2013
Technical Issues Push CME to Revise Certain Energy Settlement Prices

Technical Issues Push CME to Revise Certain Energy Settlement Prices

CME Group reported last week that due to a “technical issue” fractional changes have been made to the contract expiration prices of 10 Nymex energy products and related instruments settled between May and October 2013. This is the second time in less than a month that CME has had to issue an energy contract-related settlement revision.

November 25, 2013

Fracking Interests Injecting More Cash Into Congress

Pro-hydraulic fracturing (fracking) interests are growing in stature among political campaign contributors, according to a public interest advocacy group, which attributes their increased spending to increased discussion of the well stimulation practice.

November 25, 2013

GDF Suez Pulls Plug on Gas, Power Spec Trading

GDF Suez Energy North America last week shut down its speculative natural gas and power trading operations, which were based in Houston.

November 25, 2013