Natural gas prices this year and next will be slightly higher than previously forecast, lifted in large part by an expected increase in demand from the industrial sector, the Energy Information Administration (EIA) said.
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Directors of Australia-based Eureka Energy Ltd. have rejected a proposal from Fort Worth-based Lonestar Resources Inc. for Eureka to acquire Lonestar for scrip consideration. Eureka said it had expected to reject the proposal when it was received last week. “Nevertheless, over the weekend the company pursued discussions with Lonestar with the objective of securing a proposal on more favorable terms,” Eureka said. “The parties were unable to agree on terms, and consequently Lonestar has withdrawn the proposal.” An offer by Australia’s Aurora Oil & Gas Ltd. to acquire Eureka expires Friday (see Shale Daily, June 11). Both Aurora and Eureka have assets in the Eagle Ford Shale of South Texas, as does Lonestar. On Wednesday Eureka said “it is reasonable to accept” the Aurora offer after previously recommending that shareholders reject it.
Industrial Demand Could Boost Natural Gas Prices, EIA Says
Natural gas prices this year and next will be slightly higher than previously forecast, lifted in large part by an expected increase in demand from the industrial sector, the Energy Information Administration (EIA) said Tuesday.
EIA Sees Some Light at End of Natural Gas Price Tunnel
Natural gas prices this year and next will be slightly higher than previously forecast, lifted in large part by an expected increase in demand from the industrial sector, the Energy Information Administration (EIA) said Tuesday.
Pennsylvania Lawmakers Consider Marcellus Job Creation Tax Credit
Members of the Pennsylvania General Assembly have begun considering House Bill 2399, which among other things would provide a tax credit to companies that create new jobs related to the Marcellus Shale.
Matador Resources Ramping Up in Eagle Ford
Matador Resources Co. is moving forward with its plan to target the wet gas and oil-prone Eagle Ford Shale of South Texas this year while ramping down development of its dry gas Haynesville Shale acreage in North Louisiana, the Dallas-based company said Tuesday.
Regency Announces Eagle Ford Gathering, Treating Expansion
Dealing with an Eagle Ford gas flow that has turned out to be much more liquids-rich than expected, Regency Energy Partners LP announced Monday that it will expand its Edwards Lime gathering joint venture in the South Texas shale play to increase the system’s capacity by 90 MMcf/d to 160 MMcf/d, and provide for additional crude transportation and stabilization capacity of 17,000 b/d.
MarkWest Expanding Marcellus Midstream Capacity
MarkWest Energy Partners LP has launched midstream expansions for gathering facilities in two areas of West Virginia and in southwestern Pennsylvania to support growing natural gas production for affiliates of Chesapeake Energy Corp. and Antero Resources Corp.
Ohio University Tries Trial Gas-to-Coal Switch
Ohio University (OU) said last week for the next five months the campus heating and power plant plans a switch from coal and will run entirely on natural gas.
Crosstex Expands NGL Pipeline Extension
The Crosstex Energy companies have upsized their Cajun-Sibon natural gas liquids (NGL) Louisiana-Texas pipeline extension project and plan to have it in service during the first half of 2013, Crosstex Energy LP and Crosstex Energy Inc. said Wednesday.