The majority owner-operator of one of two major California nuclear generating plants is seeking a short cut to restart at least partially one of two 1,100 MW units this summer at the same time the state grid operator is publicly expressing growing concerns about the idle plant.
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The fourth quarter was Carrizo Oil & Gas Inc.’s ninth consecutive quarter of revenue growth and one during which it charted record oil production and oil revenue, affirming the wisdom of management’s decision to transform Carrizo into an oil company, CEO Chip Johnson said.
Over the last two years nearly 70% of the new power generation plants proposed for the 13-state PJM Interconnection electric grid, which centers on the Marcellus and Utica Shales, would be fired by natural gas.
ExxonMobil Corp.’s profits climbed 6% year/year in 4Q2012, with annual earnings jumping 9%, despite a steep fall-off in global natural gas and oil production, the supermajor reported on Friday. Until natural gas prices are revived, the producer will direct most of North American unconventional spending on liquids and oil, the investor relations chief said Friday.
During the third quarter, Southwestern Energy Co. grew natural gas and oil production by 12% from a year ago. Costs associated with its Fayetteville Shale activities declined while well results there improved. Marcellus Shale production more than doubled from a year ago, and the company continues to find its way in the emerging Brown Dense play.
Gas prices overall averaged a penny lower Monday with declines in the Midcontinent and Gulf partially offset by gains at California and eastern points. Futures prices took a hit as weather forecasters called for moderating conditions. At the close of trading November had tumbled 12.5 cents to $3.486 and December had retreated 10.3 cents to $3.774. November crude oil was down a penny to $91.85/bbl.
San Antonio-based Howard Energy Partners said Thursday it will acquire the Eagle Ford Escondido Gathering System, which is partially owned by Laredo Energy, and the Cuervo Creek Gathering System from Meritage Midstream Services. Both systems are primarily 12- 16-inch diameter high-pressure gas pipelines. The transaction is expected to close in April.
The natural gas market may be in a “dire state,” but Tulsa-based contract driller Helmerich & Payne Inc. is poised to benefit as customers migrate to oil and liquids-rich shale plays where its high-performance AC-drive rigs are well suited to the more complicated work, CEO Hans Helmerich said Tuesday.
Heckmann Corp. has begun transporting fresh water to hydraulic fracturing (fracking) customers in the Haynesville Shale through a partially completed pipeline. When the system is completed, it will be the largest fresh water pipeline in the Haynesville area, the company said.