Pace

Canada nor its provinces have adequate regulations in place to address the scale or cumulative impact of hydraulic fracturing (hydrofracking) on water resources, according to a report issued on Thursday by the water program at the University of Toronto’s Munk School of Global Affairs.

With a parade of storms coming off the coast of Africa at a frenetic pace, one theory is that natural gas futures traders — much like they did the previous Friday — took to covering their short positions ahead of the weekend to limit their risk (see Daily GPI, Sept. 7). However, another leading idea is that futures have hit a seasonal bottom and are ready to explore higher prices.

Near-flat pricing continued to set the pace for the cash market for the third day in a row Friday. The previous day’s 18.4-cent increase by July futures following a mildly bullish storage build report, along with warm to hot weather forecasts in several areas, failed to have much supportive effect on prices.

Looking to keep up with the “growing needs of producers” as shale gas development expands at a breakneck pace, ONEOK Partners LP said Wednesday it will invest between $405 million to $470 million between now and the end of 2011 for projects in the Bakken Shale in the Williston Basin in North Dakota and the Woodford Shale in Oklahoma.

Looking to keep up with the “growing needs of producers” as shale gas development expands at a breakneck pace, ONEOK Partners LP said Wednesday it will invest between $405 million to $470 million between now and the end of 2011 for projects in the Bakken Shale in the Williston Basin in North Dakota and the Woodford Shale in Oklahoma.

The costs to build and operate upstream oil and gas facilities, which fell early this year following a long period of escalation, appear to have bottomed, according to IHS Cambridge Energy Research Associates (IHS CERA).

Preparations are continuing at a brisk pace for large-scale supply development in northeastern British Columbia (BC) as soon as natural gas markets show reliable signs of making a comeback.

Preparations are continuing at a brisk pace for large-scale supply development in northeastern British Columbia (BC) as soon as natural gas markets show reliable signs of making a comeback.

Although the pace of Atlantic tropical activity hastened rapidly over the weekend, the lack of menace to offshore production combined with generally moderate cooling load and the previous Friday’s 9.8-cent decline by September futures to produce losses at a modest majority of cash points Monday. However, price movement was mixed, with most gains concentrated in the Northeast, where above-normal highs in the low 90s remained in the forecast for Tuesday.