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NatGas Prices to Increase Slowly Through 2014, EIA Says

Natural gas spot prices, which averaged $2.75/MMBtu at the Henry Hub last year and $3.33 last month, are expected to climb to an average of $3.41 this year and $3.63 in 2014, according to the Energy Information Administration (EIA).

March 13, 2013

Propane Dehydrogenation Plant Planned Near Houston

Texas will provide $1 million to close a deal with Ascend Performance Materials Texas Inc. to build a propane dehydrogenation (PDH) facility near Houston, Gov. Rick Perry said.

March 1, 2013

Wyoming Lowers Bar for Oil/Gas Supervisor

Wyoming Gov. Matt Mead on Wednesday signed a new law changing the requirements for the state’s oil and natural gas supervisor, a post that has been vacant since June. Senate Enrolled Act 3 changes the criteria for the top oil/gas spot in the Wyoming Oil and Gas Conservation Commission (OGCC).

February 19, 2013
McClendon Out, but Chesapeake ‘Not for Sale’

McClendon Out, but Chesapeake ‘Not for Sale’

Energy analysts and the market weighed in Wednesday on the news that natural gas pioneer and industry cheerleader Aubrey K. McClendon, co-founder, CEO and president of Chesapeake Energy Corp., is retiring effective April 1. His departure would end one point of controversy, but it won’t solve the problems facing the producer, according to some.

January 31, 2013

Marcellus, Utica Drew Fewer Buyers, Sellers in 2012

The Marcellus and Utica shales aren’t drawing near the attention they have been, according to a review of 4Q2012 mergers and transactions (M&A) in the United States by PwC US.

January 30, 2013

EPA Delays Pavillion Report Again, Seeks More Public Comment

For the fourth time, the U.S. Environmental Protection Agency (EPA) has extended the public comment period for its investigation into groundwater contamination near Pavillion, WY, this time until Sept. 30.

January 14, 2013

North Dakota in Freeze as Production Declines

A deep freeze named Brutus hammered North Dakota with a pre-winter force in November, knocking down oil and gas production from all-time record levels the previous month, according to the latest statistics from the state Department of Mineral Resources (DMR).

January 14, 2013

EPA Seeks More Public Comment, Delays Pavillion Report Again

For the fourth time, the U.S. Environmental Protection Agency (EPA) has extended the public comment period for its investigation into groundwater contamination near Pavillion, WY, this time until Sept. 30.

January 14, 2013

Endurance Receives $100M to Expand Presence in Bone Spring

Endurance Resources Holdings LLC announced Monday that Lime Rock Partners, a global energy-focused private equity firm, had committed $100 million for Endurance to acquire oil-focused assets and additional opportunities in two Southeast New Mexico counties that overlay the Bone Spring formation.

January 8, 2013

Industry Brief

Dow Chemical Co. began producing on-spec ethylene in late December at its St. Charles Olefins 2 Plant near Hahnville, LA, the company said. “The start-up of our St. Charles ethylene plant represents the first major milestone within our U.S. Gulf Coast investment strategy,” said Brian Ames, president, of Dow’s olefins, aromatics and alternatives business. “This action further reduces the company’s purchased ethylene, lowering costs and strengthening the competitiveness of our high-margin, high-growth derivatives businesses.” Restart of the plant had been previously announced and is part of the company’s plan to further connect its U.S. operations with cost-advantaged feedstocks from U.S. shale gas (see Shale Daily, Dec. 13, 2012). “Plans to increase ethylene and propylene supply and ethane cracking capabilities at existing U.S. Gulf Coast facilities strengthen the competitiveness of Dow’s performance plastics, performance products and advanced materials businesses and enable profitable growth in the Americas,” the company said. The St. Charles plant was idled in January 2009 and is now expected to deliver a $150 million increase in earnings before interest, taxes, depreciation and amortization this year.

January 8, 2013