Possible

NuStar Energy LP has signed separate deals with Valero Energy Corp. and EOG Resources Inc. that will affect several shale plays. Under the Valero deal, NuStar will construct a new pipeline to transport Eagle Ford crude oil to Valero’s processing plants. Meanwhile, EOG will ship 70,000 b/d of crude oil from the Bakken, Eagle Ford and other shale plays by train to NuStar’s terminal at St. James, LA, and will add 360,000 bbl of storage capacity there. NuStar’s share of construction costs should be between $30 million and $40 million.

The beat-down that U.S. natural gas prices have gotten from shale production is “perhaps the best possible news for the U.S. economy,” energy author and lecturer Robert Bryce told a Houston audience recently. The Manhattan Institute fellow predicted that over the next century, natural gas will continue to take more of the energy stage from coal and oil.

The beat-down that U.S. natural gas prices have gotten from shale production is “perhaps the best possible news for the U.S. economy,” energy author and lecturer Robert Bryce told a Houston audience last week. The Manhattan Institute fellow predicted that over the next century, natural gas will continue to take more of the energy stage from coal and oil.

Shale gas prices are likely to remain “reasonable” for years to come, despite possible upward pressure from hydraulic fracturing (fracking) issues, according to more than 700 executives and managers from utilities and other industry organizations who participated in a recent survey conducted by Black & Veatch.

North Carolina lawmakers are considering a bill that would authorize a review of existing onshore shale gas laws and create a framework for possible new state regulation, as well as allow offshore natural gas drilling and create a compact with neighboring states.

North Carolina lawmakers are considering a bill that would authorize a review of existing onshore shale gas laws and create a framework for possible new state regulation, as well as allow offshore natural gas drilling and create a compact with neighboring states.

Quicksilver Resources Inc., which was one of the early entrants into the Horn River Basin of British Columbia (BC), has launched plans to create a midstream natural gas entity to support its 130,000 net-acre project.

Tennessee declared a force majeure event for the section of pipe between Main Line Valves 400-1 and 402-1 in the Agua Dulce, TX, area due to possible damage from a third-party accident. Based on current nominations, Tennessee anticipated the possibility of restricting through a pro rata portion of Previous Scheduled (PS Priority) nominations for Monday’s Intraday Cycle and a pro rata portion of Secondary Out of Path nominations for Tuesday.

April natural gas rose Monday with traders seeing a shift to natural gas as Japan copes with possible nuclear meltdowns resulting from earthquake and tsunami damage. Technical strength was also noted. At the close April natural gas was 2.5 cents higher at $3.914 after trading as much as 16 cents higher at the open, and May added 3.1 cents to $3.976. April crude oil gained 3 cents to $101.19/bbl.