Shale basins have rewritten the book on natural gas supply, and now they’re turning the outlook for natural gas liquids (NGL) on its head. Next will be crude oil as the technology transfer to these plays takes hold in earnest, according to an analysis expected to be finished in about three weeks.
Outlook
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NPC Report Reflects Nation’s Growing Gas and Oil Strength
Four years since the National Petroleum Council (NPC) released a report on the country’s energy outlook titled “Hard Truths,” it has come out with another hefty document. The latest could have been titled “Good Times.” But it isn’t.
Industry Brief
Moody’s Investor Services downgraded the credit rating of the Bonneville Power Administration (BPA). BPA goes to an “Aa1” rating from “Aaa,” impacting $6.3 billion in outstanding debt. The outlook was set at “stable.” Moody’s said the downgrade reflects BPA’s increased “hydrology and market price risk,” which has eroded its credit quality during the last several years. Financial reserves available to handle increased risk have dropped by 36% during the two-year period ending with fiscal year 2010, Moody’s said. The ratings agency said it expects the challenges for BPA to continue in the form of “low natural gas prices, sustained lower demand and increasing amounts of wind generation during BPA’s peak surplus energy sales season.”
Weather Seen Cooler; September Slides Moderately
September natural gas retreated Tuesday as traders factored in a mild change in the temperature outlook. At the close September had fallen 3.3 cents to $4.155 and October had eased 3.4 cents to $4.156. September crude oil fell $1.10 to $93.79/bbl.
Oregon Regulators to Assess Northwest Gas Prices
An updated outlook for natural gas prices in the Pacific Northwest will be given Wednesday at an annual meeting called by the Oregon Public Utility Commission (PUC) at its headquarters in the state capital of Salem. Representatives from the Northwest Gas Association and three natural gas utilities will offer insights at a mid-morning session.
Encana Finds Innovative Ways to Combat Cost Creep
The management team at unconventional natural gas giant Encana Corp. has raised its cost outlook for both the United States and Canada and said last week the labor and supply markets are as tight as they’ve ever been. However, the company has found some innovative ways to combat costs both in the back office and in the gas patch.
Encana Finding Innovative Ways to Combat Cost Creep
The management team at unconventional natural gas giant Encana Corp. has raised its cost outlook for both the United States and Canada and said last week the labor and supply markets are as tight as they’ve ever been. However, the company is fighting back by using cutting edge technology to drill wells in less time and at a lower cost.
Kitimat, Permian Part of Apache’s 2011 Outlook
Reporting record profits for all of last year and record fourth quarter production, Apache Corp. senior executives Thursday painted a bullish outlook for this year that includes moving ahead with its newly acquired Kitimat liquefied natural gas (LNG) export project in western Canada and stepping up production of the Permian Basin assets it acquired from BP plc.
Kitimat, Permian Part of Apache’s 2011 Outlook
Reporting record profits for all of last year and record fourth quarter production, Apache Corp. senior executives last Thursday painted a bullish outlook for this year that includes moving ahead with its newly acquired Kitimat liquefied natural gas (LNG) export project in western Canada and stepping up production of the Permian Basin assets it acquired from BP plc.
Sustained Gas Liquids Drilling in 2011, Says Analyst
Drilling in natural gas liquids-weighted plays and oil shales are expected to be the focus of domestic exploration and production (E&P) companies in 2011, energy analysts with FBR Capital Markets said Monday.