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Oilfield services giant Nabors Industries Ltd. last week warned that operating results for the second quarter will fall below consensus estimates because of a “pronounced” shortfall in the pressure pumping and top drive completion service lines.

Dry natural gas production in the United States, boosted by stronger pipeline flows from the Marcellus Shale, led Goldman Sachs analysts last week to revise their forecasts down for prices and lift expectations for end-of-summer storage levels.

U.S. domestic crude oil production is at its highest level in 20 years, outstripping pipeline capacity and, increasingly, making its way to refineries and storage centers via railroads, according to the Energy Information Administration (EIA).

In a story published July 8, “NatGas Gasoline Fueling Research” (see NGI, July 8), NGI incorrectly stated that Primus Green Energy sells a gasoline product for about $2.00/gallon. In fact, the company creates the product at a cost of $2.00/gallon. In addition, NGI incorrectly stated that the company expects to produce 10,000 gallons of fuel annually. The company actually plans to produce 100,000 gallons of fuel annually. NGI regrets the errors.

Prolific oil production from U.S. shales is weighing on the need for imports, OPEC acknowledged in its latest Monthly Oil Market Report (MOMR), and analysts at Barclays predicted that the Organization of the Petroleum Exporting Countries will see its influence over market balances decline over the next few years.

Production in the Marcellus Shale over the past few years “has been nothing short of epic,” and it is straining infrastructure to the point that the Appalachian region is in need of larger interstate connections, said Genscape Inc. senior natural gas analyst Andy Krebs.

Exco Resources Inc. is back in the acquisition game after having struck a $1 billion deal with Chesapeake Energy Corp., CEO Douglas Miller said last week. There are plenty of deals, and financing is available, he told analysts following the company.

A follow-up documentary on natural gas drilling by propagandist Josh Fox premiered on HBO last week, offering some half-truths and outright distortions about the oil and gas industry, as well as President Obama’s energy policies.

Connecticut Gov. Dannel Malloy has signed legislation that would expand the state’s natural gas distribution system at the same time as a planned expansion of Algonquin Gas Transmission will increase supply access to New England.