North American onshore spending in 2013 is forecast to be dominated by Big Oil, international oil companies (IOC) and national oil companies (NOC), according to the latest annual review by Barclays Capital.
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New York DEC Releases 90 Pages Outlining Frack Rule Changes
The New York Department of Environmental Conservation (DEC) has released 90 pages of documents detailing proposed regulations governing high-volume hydraulic fracturing (HVHF), and it has set the dates for a 30-day public comment period on the proposed rules. The action appeared to signal a long-awaited break in the state’s drilling moratorium.
CenterPoint Seeks to Start Up Arkansas Replacement Project
CenterPoint Energy Gas Transmission (CEGT) has asked FERC for authorization to carry out activities to place its 17-mile, small-diameter Line replacement project in southwestern Arkansas in service by Nov. 12.
BG Group Plans to Cut U.S. Drilling
BG Group, whose global expertise is centered around natural gas, on Wednesday said it plans to slash U.S. drilling, as well as other global gas-weighted projects, because of low commodity prices.
Industry Brief
Boulder County, CO, officials may need to keep in place longer than expected a moratorium on the processing of development plans for oil and gas permits. County Planning Commission members said Wednesday they need more time to complete new regulations meant to address potential public health and environmental impacts of oil and gas exploration in unincorporated areas of the county, according to news reports. In February Boulder County commissioners passed a resolution that placed a moratorium on accepting applications until Feb. 4, 2013. The Planning Commission asked the Board of County Commissioners to extend the moratorium by three to six months. Government officials from around Colorado have challenged the state’s authority to regulate energy operations (see Shale Daily, Sept. 24; Aug. 17). The state maintains exclusive jurisdiction in this area under the Colorado Oil and Gas Conservation Commission.
Analyst: U.S. Gas Prices ‘At Least’ $4 in 2013
Fundamentals are in place for U.S. natural gas prices to recover to “at least” $4.00/MMBtu in 2013, with prices through December averaging $3.50, an energy analyst said last week. The gas supply “inventory overhang is not as bad as was feared,” said another analyst.
Analyst: U.S. Gas Prices ‘At Least’ $4 in 2013
Fundamentals are in place for U.S. natural gas prices to recover to “at least” $4.00/MMBtu in 2013, with prices through December averaging $3.50, Canaccord Genuity said Monday.
Industry Briefs
Northwest Pipeline has asked the Federal Energy Regulatory Commission for another month to complete and place into service the North Seattle Delivery Lateral Expansion to meet the growing demand for gas in the Seattle area. At the same time, the agency approved Natural Gas Pipeline Co. of America’s (NGPL) request for an additional year to complete a project in Oklahoma. It requested that the in-service of the lateral be delayed until Nov. 1, which the Commission approved. The North Seattle Delivery Lateral Expansion, being built for Puget Sound Energy, calls for removing an existing eight-inch diameter pipeline and replacing it with a new 20-inch diameter pipe within the existing right-of-way, and upgrading the existing North Seattle meter station. The expansion will raise delivery capacity on the North Seattle Delivery Lateral by 84,200 Dth/d. NGPL is proposing to increase the maximum allowable operating pressure of the gathering system at its Sayre Storage Field in Beckham County, OK.
Northwest Seeks Additional Month to Complete Seattle Lateral Expansion
Northwest Pipeline has asked FERC to give it an additional month to complete and place into service the North Seattle Delivery Lateral Expansion to meet the growing demand for gas in the greater Seattle, WA, area. At the same time, it approved Natural Gas Pipeline Co. of America’s (NGPL) request for an additional year to complete a project in Oklahoma.
Canaccord Genuity: ‘Fundamentals in Place’ For $4 Gas
Robust demand from the power generation sector has helped to rebalance the natural gas market and fundamentals are in place for prices to increase to “at least $4[/Mcf] this winter,” according to Canaccord Genuity analyst John Gerdes.