Peak

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.

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.

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.

A rush for liquids-rich natural gas and tight oil embedded in dense rock formations, using shale drilling methods imported from the United States, is bailing the Alberta government out of sinking deeply into the red.

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.

Due to peak temperatures in Florida reaching the 90s, Florida Gas Transmission issued an Overage Alert Day for market-area customers Monday, setting a 25% tolerance for negative daily imbalances.

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.

Following its close above $4 on Monday, the December natural gas futures contract continued to march higher on Tuesday to a peak of $4.228 before closing the regular session at $4.210, up 12.2 cents on the day.