Fading oil and natural gas liquids (NGL) prices, butting into subdued world economic conditions, point to slower exploration and production (E&P) growth for the next two years, according to Moody’s Investors Service.
Articles from Point
Kinder Morgan Pony Express Pipeline LLC and Belle Fourche Pipeline Co. are holding an open season through June 20 for crude oil transportation from a point near Baker, MT, to delivery points at Ponca City and Cushing, OK. Pony Express and Belle Fourche anticipate the ability to transport 100,000 or more b/d beginning in the fourth quarter of 2014. The companies have secured a long-term anchor shipper commitment for a minimum of 30,000 b/d. For more information, contact John Eagleton at (303) 914-4702, Mike Smith at (303) 763-3484, Bob Mishler at (303) 914-7762, Tad True at (307) 237-9301 or Bob Stamp at (307) 266-0345. In separate open seasons, Pony Express will offer single pipeline (local) oil transportation service from the Guernsey, WY, area and from the Denver-Julesburg Basin. Last year Kinder Morgan proposed converting a 635-mile Wyoming to Missouri section of its former Pony Express Pipeline from natural gas service back to its original function of carrying crude oil (see Daily GPI, Aug. 8, 2011).
Several municipalities in the Southern Tier of New York have adopted nonbinding resolutions that take a stand that would allow high-volume hydraulic fracturing (fracking), a position that dovetails with an assertion by state officials that the drilling stimulation practice, if eventually approved by regulators, only would be permitted in communities that allowed it.
Vermont Gov. Peter Shumlin signed a bill that calls for a ban on hydraulic fracturing (fracking) on Wednesday, a largely symbolic gesture but one that makes the Green Mountain State the first in the nation to outlaw the practice.
Early indications point to natural gas development having a positive impact on state tax collections in counties in Pennsylvania’s Marcellus Shale region, according to an analysis by Pennsylvania State University researchers.
Anadarko Petroleum Corp. has drilled and is producing from three wells in the eastern Ohio portion of the Utica Shale, the most recent of which delivered more than 9,500 bbl of crude oil and 12 MMcf of natural gas in the first 20 days online, the producer said Thursday.
While over recent months the Marcellus and Utica shales have attracted most of the attention focused on shale gas supplies, the southeastern United States — where the shale boom hit earlier — is still dealing with the consequences of shifting supplies, according to a report by LCI Energy Insight and Energy Ventures Analysis.
The Sierra Club filed a formal objection at the Department of Energy (DOE), challenging the export of Marcellus Shale gas from Cove Point’s liquefied natural gas (LNG) import facilities in Maryland. The environmental group argued that LNG exports would raise natural gas and electricity prices nationwide and would expand the practice of hydraulic fracturing (fracking). Sierra Club called for the department to hold the first-ever full environmental impact statement assessing the effects of increased Marcellus Shale fracking. This is the third LNG export facility that the Sierra Club has opposed, with the other two being facilities in Coos Bay, OR, and Sabine Pass, LA. Sierra Club’s protest comes a week after the group attacked the Federal Energy Regulatory Commission’s environmental review of the proposed Sabine Pass Liquefaction LLC facilities (see Daily GPI, Feb. 1).