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Industry Briefs

Marathon Oil Corp. and Cook Inlet Natural Gas Storage Alaska (CINGSA) reached an agreement for Marathon Alaska Production LLC to transfer gas from its storage facility at the Kenai Gas Field to CINGSA’s nearby storage facility to cover potential gas supply shortfalls this winter, the companies said. Cook Inlet operates its facility on behalf of area utilities. “We appreciate Marathon’s offer to sell additional gas volumes that help CINGSA meet our base gas requirements,” said CINGSA Vice President Colleen Starring. “Given the nature of the two companies’ storage facilities, these gas transfers will result in a net increase in gas deliverability for the winter peak demand period, thus increasing confidence in meeting winter peak energy needs this year.” Marathon said its Kenai Gas Field storage facility has been available to meet emergency gas needs in the southcentral Alaska.

August 29, 2012

Excelerate Inks Deal to Expand Floating LNG Regasification Fleet

Looking to expand its ability to offload and convert liquefied natural gas (LNG) from ships to pipeline-grade natural gas around the world, Excelerate Energy has reached a shipbuilding option agreement with Daewoo Shipbuilding and Marine Engineering (DSME) for the delivery of up to eight floating storage and regasification units (FSRU) between early 2015 and early 2017.

August 9, 2012

PA Governor: More Work Needed to Make Shell Cracker a Reality

Pennsylvania Gov. Tom Corbett said there was a better than 50% chance that a subsidiary of Royal Dutch Shell plc will build an ethane cracker in Beaver County, and he said more work is necessary to make the facility a reality.

August 6, 2012

Marathon Drops Rigs in Eagle Ford, Anadarko Woodford, Bakken

Houston explorer Marathon Oil Corp. is reducing its rig count in the Eagle Ford Shale because of drilling efficiencies and dropped rigs in the Anadarko Woodford and Bakken plays in response to a “continued decline in natural gas liquids (NGL) and natural gas prices,” the company said Wednesday.

August 2, 2012

ExxonMobil’s Bakken Output 60% Higher in One Year

ExxonMobil Corp.’s production in the Bakken Shale has reached about 32,000 boe/d, which is 60% higher than a year ago and double the amount the company was producing just three years ago, a top executive said Thursday. Two more oil-directed rigs have been added to the play in just the past three months.

July 30, 2012

Lower 48 Gas Output Bounced Back in April, EIA Says

Buoyed by a 0.41 Bcf/d (1.9%) increase in Texas, natural gas production in the Lower 48 states reached 72.48 Bcf/d in April, a 0.8% increase compared with 71.92 Bcf/d in March and up a full 3.22 Bcf/d compared with April 2011, according to the Energy Information Administration’s (EIA) latest Monthly Natural Gas Gross Production report.

July 2, 2012

Lower 48 Production Bounced Back in April, EIA Says

Buoyed by a 0.41 Bcf/d (1.9%) increase in Texas, natural gas production in the Lower 48 states reached 72.48 Bcf/d in April, a 0.8% increase compared with 71.92 Bcf/d in March and up a full 3.22 Bcf/d compared with April 2011, according to the Energy Information Administration’s (EIA) latest Monthly Natural Gas Gross Production report.

July 2, 2012

FERC Data Shows Record Gas Trading Volumes in 2011

Total combined natural gas purchase and sales volumes reached 124,752 TBtu in 2011, a 2.5% increase compared with 121,682 TBtu in 2010, according to an analysis by Natural Gas Intelligence (NGI) of 2011 Form 552 filings with FERC.

June 4, 2012

FERC Data: Record Gas Trading Volumes in 2011

Total combined natural gas purchase and sales volumes reached 124,752 TBtu in 2011, a 2.5% increase compared with 121,682 TBtu in 2010, according to an analysis by Natural Gas Intelligence (NGI) of 2011 Form 552 filings with FERC.

May 30, 2012

FERC Form 552 Data Shows Record High Natural Gas Trading Volumes in 2011

Total combined natural gas purchase and sales volumes reached 124,752 TBtu in 2011, a 2.5% increase compared with 121,682 TBtu in 2010, according to an analysis by Natural Gas Intelligence (NGI) of 2011 Form 552 filings with FERC.

May 30, 2012