Opportunity

North American natural gas production is no longer opportunity-constrained, it’s market-constrained, as the swift, stunning growth of unconventional plays already has overtaken conventional drilling, according to industry leaders and energy pundits, who shared their expertise and advice last week at Cambridge Energy Research Associates’ CERAWeek in Houston.

Spectra Energy Partners LP said Greg Harper has resigned as president, CEO and member of the board of directors of Spectra Energy Partners GP LLC effective Dec. 5. “Greg has decided to pursue another opportunity outside of the company,” said Chairman Fred Fowler. “I am very appreciative of his service to Spectra Energy Partners and wish him all the best in his new endeavor.” A successor for Harper will be named in the near future, the company said.

Berry Petroleum Co., which plucked a bushel of natural gas-rich acreage in East Texas last month, sees some opportunity for bolt-on acquisitions, the CEO said Friday.

Berry Petroleum Co., which plucked a bushel of natural gas-rich acreage in East Texas last month, sees some opportunity for bolt-on acquisitions, the CEO said Friday.

A pipeline to move gas from Alaska’s North Slope to Alberta would provide a good opportunity to utilize downstream Canadian pipeline assets to move gas to the Lower 48, an Enbridge Inc. executive told NGI Wednesday.

After enduring a fast and furious first three days of trading for the week that resulted in a $1.432 drop, traders appeared to seize the opportunity on Thursday and Friday to expand one of the last weekends of the summer. Following a slow Thursday, the activity Friday once again was lethargic as the September natural gas futures contract closed at $5.523, down 9.9 cents on the day, and $1.487 lower than the previous Friday’s close.

With 156 co-sponsors signed on to his legislation, Rep. John Peterson (R-PA) believes “there’s a real opportunity” this year for Congress to make headway to expand natural gas drilling on the federal Outer Continental Shelf (OCS), a spokesman said.

This year appeared to be the best opportunity for Congress to open the Arctic National Wildlife Refuge (ANWR) to energy development and expand leasing in protected offshore regions, but that chance may have gone down in flames late Wednesday.

Stand-alone natural gas legislation offered in the Senate last Wednesday seeks to tame gas prices by giving coastal states the opportunity to opt out of the federal moratorium on offshore oil and gas leasing and potentially freeing up gas-rich Lease 181 in the eastern Gulf of Mexico for leasing, as well as promoting a number of other initiatives to slice gas demand and bolster supply.