Unfavorable federal energy policies are largely to blame for the continuing decline in oil and natural gas leasing, permitting and new drilling on western lands from peak activity in 2007-2008, according to a new report commissioned by the American Petroleum Institute (API). The decline in activity on western lands was first detected in 2009-2010 and has carried over into 2011.
Articles from Peak
With nuclear power generation being phased out, coal considered too inflexible and the potential for shale gas to overcome current negative connotations in parts of Europe, natural gas as a source of electricity generation is drawing increased interest in Germany, which is rapidly moving toward total reliance on renewable sources for power generation.
FERC on Thursday approved Leader One Energy LLC’s application to convert a production field to a natural gas storage facility to meet existing peak-day and load growth demand for local gas distribution and power generation in the market area along the Front Range in Colorado.
Demand for oilfield services in North America’s onshore — especially hydraulic fracturing (hydrofracking) — is growing faster than companies can add equipment, Halliburton CEO Dave Lesar said Monday.
The Northeast remains the market area most affected by the current cold blast, with Transco Zone 5 recording the peak number of $12 Monday and the New York section of Transco’s Zone 6 having the leading average. Although the market realized losses of 2-3 cents to nearly 15 cents (with the weakest dips in the Rockies), more points than before were feeling the weather impact with numbers ranging from flat to about $2.40 higher.
With the peak season for Atlantic hurricanes upon us as the calendar flips to August, natural gas futures kept the momentum to the upside rolling on Friday as the September contract added 9.6 cents to $4.923. The contract closed the week 36 cents higher than the previous week.