After more than a month of delays caused by cold weather, Magnum Hunter Resources Corp. reported what analysts called “monster” results at its Stalder 3UH Utica well in Monroe County, OH, which tested at a peak rate of 32.5 MMcf/d.
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MDU Utility Gets $4.25M North Dakota Gas Rate Hike
Bismarck, ND-based MDU Resources Group’s Montana-Dakota Utilities operations received approval Monday from the North Dakota Public Service Commission (PSC) for a $4.25 million (3.9%) annual natural gas rate increase. MDU said it was its first rate hike since 2004.
New Bill Stokes Further Debate on Ohio Oil, Gas Severance Tax
A group of Republicans in the Ohio House of Representatives have once again thrust the state’s oil and gas severance tax onto center stage by proposing a modest increase in the rate operators currently pay for production in the Utica Shale.
Retail NatGas Rates Rise in Washington
Retail natural gas charges will increase Friday (Nov. 1) in the state of Washington, with the rate hikes varying over a wide range for the state’s four private-sector gas distribution utilities. Washington state regulators approved the rate hikes on Wednesday.
Idaho Regulators Hike Gas Utility Rates
After recent years of rate decreases, Idaho regulators approved purchased gas adjustment (PGA) rate increases on Wednesday for the state’s two major natural gas utility distribution companies: Spokane, WA-based Avista Utilities and Boise, ID-based Intermountain Gas Co. The rate changes are effective Tuesday (Oct. 1).
Avista Seeks $9.5M General Rate Increase in Oregon
Spokane, WA-based Avista Utilities asked Oregon regulators last Thursday for a better-than 10% hike in its retail residential natural gas utility rates, reversing a trend in recent years in which retail gas utility rates in the state had been plummeting (seeDaily GPI,Nov. 1, 2011).
Pad Drilling Half of U.S. Market, Says Halliburton
Almost half of the drilling in the U.S. onshore now is being done on multi-well pads, further moving attention from the rig and well count and more to horizontal footage drilled and the number of fractured stages per well, Halliburton Co. CEO Dave Lesar said Monday.
Exco Still In the Market After Last Week’s $1B Deal
Exco Resources Inc. is back in the acquisition game after having struck a $1 billion deal with Chesapeake Energy Corp. last week, CEO Douglas Miller said Monday. There are plenty of deals, and financing is available, he told analysts following the company.
Industry Briefs
The Washington Utilities and Transportation Commission (UTC) has approved a multi-year rate plan for Puget Sound Energy (PSE) to increase annual limits for natural gas and electricity rates over the next three to four years. PSE’s gas rates would increase by $9.1 million, or 1.55%, and power rates would increase by $52.3 million, or 3.34%, effective Monday (July 1). Rates may increase over the period by a maximum of 3%, with any excess amounts recovered the following year. Also as part of the approval, UTC separated utility profits from sales levels. The so-called “decoupling” allows the utility to recover fixed costs regardless of how much gas and electricity it sells.
Onshore Drillers Trending Toward Fast-Moving, AC Rigs
Efficiencies have made the onshore rig count not as relevant a data point as it once was, but digging deeper into the data shows what types of rigs are gaining favor and why, according to Tudor, Pickering, Holt & Co. (TPH).