In what has become a public relations — and financial — concern, California regulatory staff on Tuesday slapped Pacific Gas and Electric Co. with an $8.1 million citation for allegedly failing to meet federal requirements in inspecting part of its natural gas transmission pipeline system earlier this year.
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Phillips 66 to Add LPG Export Terminal at Freeport Facility
Phillips 66 is planning to expand its midstream business with a liquefied petroleum gas (LPG) export terminal to be built at its existing marine terminal in Freeport, TX, the Houston-based company said.
The Frackers Tells of Risky, Ambitious Ride to Energy Independence
George P. Mitchell and crew long have been credited with finding the trigger to unlock unconventional natural gas, but it was in fact a colorful cast of visionaries, oddballs and take-no-prisoner pitchmen who helped launch the United States on the road to energy independence, as told in the insightful, and at times suspenseful, new book by bestselling author Gregory Zuckerman, The Frackers: The Outrageous Inside Story of the New Billionaire Wildcatters.
CPUC Regulator Accuses PG&E of ‘Dishonesty,’ Calls for $17.25M Fine
Within days of a regulatory judge’s recommending a lesser penalty, one of the five members of the California Public Utilities Commission (CPUC) late Monday issued an alternate proposed decision, slapping a $17.25 million fine on Pacific Gas and Electric Co. (PG&E) for “calculated dishonesty” related to a natural gas pipeline safety issue.
Encana to Sell, Spin Off Properties, Slash Jobs
Encana Corp. on Tuesday announced a bold strategy to move back into the winning column by focusing on only five North American onshore plays — down from 30 — requiring leasehold sales, a spinoff and a 20% reduction in jobs. The goal is to balance liquids and natural gas by 2017 from a limited number of assets, said CEO Doug Suttles.
Wyoming Lawmakers to Study Taking Back Federal Lands
An interim state legislative task force in Wyoming has directed staff to compile a report for two committees assessing the prospects for the state attempting to take back federally managed public lands, possibly following a tack Utah took last year. Any federal-to-state transfer of land control would be applauded by the oil and natural gas industry as drilling permits historically have taken exponentially longer to receive from the federal government.
Encana’s Top Five Money Makers Getting Bulk of Budget
Encana Corp., in stress mode since natural gas prices collapsed in 2009, will spend 75% of 2014 capital on only five North American onshore plays, all oily and liquids-rich, a strategy that within four years is designed to create a more evenly balanced operator.
Marathon Oil Eagle Ford Retention Drilling Mostly Done
Marathon Oil Corp. continued to raise its game in the Eagle Ford Shale during the third quarter, improving drilling times by 20% from a year ago and bringing drilling and completion costs down by 20%. The company still plans to exit the year with net production of about 100,000 boe/d from the South Texas play.
MSC, PIOGA to Study Radioactive Materials From Drilling
The Marcellus Shale Coalition (MSC) and the Pennsylvania Independent Oil and Gas Association (PIOGA) will study radioactive materials produced from shale development activities, with the results intended to complement a similar study being performed by state regulators, the groups said.
Armed with New Position Limit Proposal, Chilton Announces Plans to Depart CFTC
Commodity Futures Trading Commissioner (CFTC) Bart Chilton, a major proponent of speculative position limits, announced that Tuesday’s meeting will be his last at the agency.