The Perryville Hub in North Louisiana continues to raise its profile in the Gulf Coast region on the shoulders of Midcontinent shale gas production and growing gas-fired power generation demand in the Southeast. Pipeline operators are responding with efforts to streamline trading at the location with the expectation that it will become the supply-demand crossroads for shale gas and power plants.
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Gas Industry Had Early Access to New York Rules, Says Group
Natural gas industry representatives were granted early access to New York’s preliminary unconventional drilling regulations up to six weeks before the rules were made public, the public health advocate Environmental Working Group (EWG) claimed on Thursday, citing documents obtained under a Freedom of Information (FOI) request.
Senate Panel Advances Bill to Hike CFTC, SEC Spending
A Senate appropriations subcommittee Tuesday voted out a spending bill that would significantly raise spending for the Commodity Futures Trading Commission and the Securities and Exchange Commission (SEC) to oversee the multi-trillion-dollar derivatives market. The full Senate Appropriations Committee is expected to vote on the measure later this week.
EOG’s ‘Big Four’ Plays Boost Production
First quarter performance from EOG Resources Inc.’s “big four” plays, led by the Eagle Ford Shale, was substantial enough to raise this year’s total company liquids production growth target to 33% from 30% and increase the overall production growth target to 7% from 5.5%.
EOG’s ‘Big Four’ Plays Boost Oil, Liquids Production
First quarter performance from EOG Resources Inc.’s “big four” oil and liquids plays was substantial enough to raise this year’s total company liquids production growth target to 33% from 30% and increase the overall production growth target to 7% from 5.5%.
FERC Report: Shales Boost Production, Lower Prices
Continuing high natural gas production levels driving prices to the sub-$2 level raise concerns of an eventual production bust that could result in higher prices for producers, according to a market report Thursday by FERC’s Office of Enforcement (OE).
ExxonMobil Calls Chesapeake Purchase ‘Strategic’
Chesapeake Energy Corp. last week clinched a trio of natural gas and oil transactions in unconventional U.S. fields that together would give the company total proceeds of $2.6 billion in cash. Among them was the sale to ExxonMobil Corp. of 58,400 acres in the Texoma Woodford Shale for $590 million in cash.
Kasich Plan Would Tax Unconventional Wells, NGLs
Ohio Gov. John Kasich will reportedly unveil a proposal next week to restructure state taxes on oil and gas drilling — including implementing new taxes on hydraulic fracturing (fracking) and natural gas liquids (NGLs) — then pass the savings along to Ohioans in the form of a personal income tax cut.
EQT Readies Midstream Spin-Off
EQT Midstream Partners LP, a unit of Appalachian producer EQT Corp., is preparing to launch a public offering as a master limited partnership (MLP). The initial public offering (IPO) is expected to raise up to $250 million.
API Ad Campaign Aimed at Super-Committee
The American Petroleum Institute (API) plans to launch an ad campaign Tuesday urging members of the joint House-Senate super-committee not to raise taxes for the oil and natural gas industry.