Positive

Southern California Gas declared a new high-linepack OFO for Wednesday, setting a 10% tolerance for positive daily imbalances.

Westcoast implemented a systemwide high-linepack OFO Thursday with 10% tolerance for positive daily imbalances.

Pacific Gas and Electric issued a systemwide Stage 2 high-inventory OFO for Saturday on its California Gas Transmission system, setting penalties of $1/Dth for exceeding a 5% tolerance on positive daily imbalances.

Operators have the tools today to tap into unconventional natural gas and oil reservoirs at a more efficient and more productive pace but the technologic advances have only scratched the rock’s surface, a Schlumberger Ltd. executive said earlier this month.

Pacific Gas and Electric kept a systemwide Stage 2 high-inventory OFO in place through at least Friday but loosened the tolerance for positive negative imbalances from 5% to 13%.

Southern California Gas declared a high-linepack OFO for Wednesday, setting a 10% tolerance for positive daily imbalances.

Results from Talisman Energy’s North American shale plays continue to be positive, but the impact of increased taxes in the United Kingdom and a loss on held-for-trading financial instruments and the timings of liftings led to negative overall earnings in 1Q2011, the Calgary-based producer said Wednesday.

Thousands of jobs would be created in West Virginia if a thermal cracker facility was built to process ethane gas from Marcellus Shale drilling, state officials said Wednesday.

May natural gas futures staged a healthy late-session rally Thursday to close in positive territory after surviving what could have been a damaging blow to the bullish cause after the release of government inventory data. At the end of the day May futures were 3.4 cents higher at $4.389 and June rose 3.2 cents to settle at $4.458. May crude oil vaulted $2.45 to $106.72/bbl.