Promises

McMoRan Exploration Co., which has kept investors dangling with promises that its Davy Jones natural gas discovery in the shallow waters of the Gulf of Mexico (GOM) would be flowing 50 MMcf/d by now, saw its shares plunge by more than 20% on Monday and another 15%-plus early Tuesday after the company admitted that it still is struggling to bring the prospective well online.

The venerable Permian Basin in West Texas is in the “early innings” of an oil/gas renaissance that promises to be technology driven, riding the wave of horizontal drilling, which still represents only a quarter of Permian rig activity, according to a report released Monday by Houston-based financial services company U.S. Capital Advisors.

The venerable Permian Basin in West Texas is in the “early innings” of an oil/gas renaissance that promises to be technology driven, riding the wave of horizontal drilling, which still represents only a quarter of Permian rig activity, according to a report released Monday by Houston-based financial services company U.S. Capital Advisors.

Following 30 years of declining oil output in the Lower 48 states, the United States now is well on its way to becoming energy independent — a structural supply shift that promises to reach well beyond oil and natural gas stocks, analysts with Raymond James & Associates Inc. said in a note last week.

Following 30 years of declining oil output in the Lower 48 states, the United States now is well on its way to becoming energy independent — a structural supply shift that promises to reach well beyond oil and natural gas stocks, analysts with Raymond James & Associates Inc. said in a note Monday.

TransCanada Corp. on Monday notified the U.S. State Department that it intends to file in the “near future” a Presidential Permit application for a cross-border permit for part of the original $7 billion, 1,700-mile Keystone XL oil pipeline project running from the U.S.-Canada border in Montana to Steele City, Nebraska. The Calgary-based pipeline company said it eventually would file a supplement to the new application with an alternative route in Nebraska.

A fundamental shift in the North American natural gas outlook, driven by the shale boom, promises to keep wholesale prices low for a long time to come, according to revised forecasts released on Wednesday by the Portland, OR-based Northwest Power and Conservation Council (NPCC).

A fundamental shift in the North American natural gas outlook, driven by the shale boom, promises to keep wholesale prices low for a long time to come, according to revised forecasts released on Wednesday by the Portland, OR-based Northwest Power and Conservation Council (NPCC).

Late summer promises to be a busy time for federal regulatory proceedings related to the Pacific Gas and Electric Co. (PG&E) natural gas pipeline rupture last September in San Bruno, CA, according to a California-based staff member for Rep. Jackie Speier (D-San Mateo). For beleaguered PG&E, June has already presented a series of challenges, including criminal investigations, multi-million-dollar state fines and the hardening of a bunker mentality within the utility.