News

Many of the responders to an initial notice of inquiry (NOI) on whether to require quarterly reporting of FERC-jurisdictional next-day and next-month transactions contend that the quarterly reporting requirement would not improve natural gas market transparency.

North American exploration and production (E&P) companies will begin to unveil their second quarter results over the coming weeks, and while there aren’t expected to be any big surprises, analysts are hoping for details on natural gas market fundamentals — particularly in the Marcellus Shale — along with insight into emerging plays and more information on ethane rejection in natural gas liquids (NGL) plays.

The Senate Thursday confirmed Gina McCarthy to head the Environmental Protection Agency (EPA), ending a four-month long stalemate between Republicans and Democrats over her controversial nomination.

Steel manufacturer Nucor Corp. said it plans to spend more than $700 million on natural gas drilling over a two-year period to meet its contractual obligations with Encana Corp. for low-cost gas supplies.

The Pennsylvania Superior Court has thrown out a lawsuit brought by Fayette County family, which wanted an oil and gas lease agreement voided by claiming that some drilling activities weren’t contemplated when the contract was executed. However, similar lawsuits in the state and in Ohio are facing new scrutiny as well.

The United States could produce 5 million b/d from shale oil deposits by 2017 and may become the world’s largest oil producer — reaching up to 16 million b/d in just a few years by combining shale with conventional oil, liquefied natural gas (LNG) and biofuels, according to a researcher at Harvard Kennedy School.

The United States continued to crush the global merger and acquisition (M&A) market between April and June, but deal values in the first half of 2013 (1H2013) represented the lowest six-month period since at least 2007, according to a survey by PLS Inc. and partner Derrick Petroleum Services.

The United States has been the sole customer for Canada’s oil industry, but with energy independence on the horizon south of the border, Canadians are looking for other markets.

Prolific oil production from U.S. shales is weighing on the need for imports, OPEC acknowledged in its latest Monthly Oil Market Report (MOMR), and analysts at Barclays predicted that the Organization of the Petroleum Exporting Countries will see its influence over market balances decline over the next few years.