A year-old, privately held California micro exploration and production (E&P) company founded by former senior executives from a predecessor Chevron Corp. company (Texaco), Pacific Energy Development Corp. (PEDCO), plans to merge with publicly held Houston-based energy services firm Blast Energy Services to form a new publicly held company headed by PEDCO CEO Frank Ingriselli.
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Bears Ignore Bullish Storage Stats; January Slips
January natural gas inched lower Thursday as traders took the opportunity to sell into a seemingly bullish government inventory report and looked ahead to forecasts calling for above-normal temperatures. The Energy Information Administration (EIA) reported a withdrawal from inventories of 102 Bcf for the week ended Dec. 9, a greater draw than what the market was looking for. At the close, however, January had eased 0.9 cent to $3.127 and February had shed 1.0 cent to $3.177. January crude oil fell $1.08 to $93.87/bbl.
States, Industry, Congress Put EPA On Defensive
Industry experts told members of Congress that shale gas should be regulated by the states without interference from the federal government, while the U.S. Environmental Protection Agency (EPA) tried to clarify its plan to develop national pretreatment standards for wastewater.
Pennsylvania Marcellus Employment Doubles Since 2008
Employment in the core industries that drive Marcellus Shale development in Pennsylvania more than doubled to 20,837 people between 2008 and 2011, while employment in ancillary industries dropped by around 1% to 193,813, according the Center for Workforce Information and Analysis (CWIA) at the Pennsylvania Department of Labor and Industry.
ExxonMobil CEO: Have Cash; Need Access to US Lands
ExxonMobil Corp. CEO Rex Tillerson said Thursday the company would invest more in the United States “if we are given the opportunity.”
ExxonMobil CEO: Have Cash, Need Access
ExxonMobil Corp. CEO Rex Tillerson said Thursday the company would invest more in the United States “if we are given the opportunity.”
Substantial Natural Gas Growth by 2030, But Much Work Remains
Energy experts predict that natural gas will surpass coal and become the second most widely used fossil fuel on Earth by 2030, but said challenges remain for the industry to make that a reality.
Utica Shale Could Strain Appalachian Liquids Infrastructure
The Utica Shale could double or triple liquids production in the Appalachian Basin, increasing the infrastructure challenges in the region, a midstream player told an audience in Pittsburgh on Wednesday.
Ultra Adds Niobrara; Sees Record Output in Pinedale, Marcellus
Driven by record natural gas output from core holdings in the Pinedale Anticline of Wyoming and the Marcellus Shale in Pennsylvania, Ultra Petroleum Corp. on Wednesday reported quarterly profit numbers that beat Wall Street’s expectations. The Houston producer also disclosed that it established a third core area, almost 100,000 net acres in the liquids-prone Niobrara formation of the Denver-Julesburg (DJ) Basin of Colorado.
Thousands of Marcellus Jobs Possible in New York, Pennsylvania
Calling development of the Marcellus Shale play “a great opportunity” for New York, the Public Policy Institute of New York State Inc. (PPI) said a scenario where 500 gas wells were drilled every year in the state would create 62,620 jobs, $2.7 billion in added value and $1 billion in local, state and federal tax revenue.