Record

The recent polar vortex cold snap strained the nation’s natural gas pipeline systems, but they performed relatively well, and it is unclear how much electricity was not able to be produced due to any lack of available gas, according to a preliminary review presented during FERC’s regular monthly meeting Thursday in Washington, DC.

In a reprise of record keeping errors that surrounded its San Bruno natural gas pipeline failure three years ago, Pacific Gas and Electric Co. (PG&E) found itself once again under fire Thursday for mislabeling high-pressure pipeline segments on the same set of pipes traversing the peninsula south of San Francisco. State regulators immediately set a hearing for Friday in which PG&E again will be on the hot seat.

Crude oil prices, permits to drill and industry employment all surged in July to boost the Texas Petro Index (TPI) by 3.5 points — the largest month-to-month increase in 18 months — to a record 287.7. The previous record was set in 2008.

Last year’s 50-year oil production record in Colorado may be broken again this year, according to the latest production statistics from the Colorado Oil and Gas Conservation Commission (OGCC). The statistics cover January through May.

A biannual production report posted by the Pennsylvania Department of Environmental Protection (DEP) shows the state’s stable of unconventional gas wells produced a record 1.42 Tcf during the first six months of 2013.

Global exploration and production (E&P) spending is forecast to hit a record $678 billion in 2013, 10% higher than in 2012 and up more than 300 basis points from planned spending six months ago, Barclays Capital data indicate.

Global exploration and production (E&P) spending is forecast to hit a record $678 billion in 2013, 10% higher than in 2012 and up more than 300 basis points from planned spending six months ago, according to Barclays Capital.

Southwestern Energy Co. is producing about 400 MMcf/d in the Marcellus Shale and doesn’t foresee any constraints in moving natural gas to markets north or south for the next couple of years, executives said Friday.

With the price of gold now down nearly 30% from its record September 2011 high of $1,920.30/oz to around $1,377, analysts looking for a commodity to be bullish about have turned their focus to natural gas as a new commodity “safe haven,” thanks to the shale revolution.