Redistributed

EQT Achieves 1 Bcfe/d in Appalachian Output

Hours ahead of EQT Corp.’s second quarter conference call on Thursday, the company tied into sales its first Utica Shale well, the CEO said.

July 29, 2013

Oneok Spinning Off Gas Distribution Business

Oneok Inc. plans to spin off its natural gas distribution business to create ONE Gas Inc., which would be one of the largest gas utilities in the United States with more than two million customers in three states and the only publicly traded, 100% regulated, pure-play gas distribution utility.

July 29, 2013

World Energy Use to Increase 56% by 2040, NatGas by 64%

World energy consumption will increase by 56% between 2010 and 2040, driven largely by increased demand from developing countries, according to the International Energy Outlook 2013 (IEO2013), which was released last Thursday by the Energy Information Administration (EIA). It sees global natural gas demand increasing by 64%.

July 29, 2013

Chesapeake Gets Ratings Boost from S&P

Standard & Poor’s Ratings Services (S&P) on Friday revised its outlook for Chesapeake Energy Corp. to “stable” from “negative,” citing the new CEO as part of the reason. Former Anadarko Petroleum Corp. executive Doug Lawler took over in June (see NGI, May 27).

July 29, 2013

Western U.S. to Bake Through Summer’s End, WSI Says

Most of the United States — and particularly parts of Texas and the Northeast — can expect above-normal temperatures through October, but the Southeast may see some relief from the worst of summer heat, according to forecasters at Weather Services International (WSI). The forecaster also trimmed the number of tropical storms it expects to form in the Atlantic Basin this year.

July 29, 2013

Uncertainty Stalling Northwest NatGas Demand Growth

Industry executives who recently offered Oregon regulators an updated natural gas outlook for the Pacific Northwest said they see faint signs of potential added gas-fired industrial loads taking shape, but flat near-term demand projections nevertheless dominated their forecasts.

July 29, 2013

Record Production for Range in 2Q, Earns $144M

Bolstered by record production, especially in the southwest Pennsylvania portion of the Marcellus Shale, and revisions to its estimated ultimate recovery (EUR) curves, Range Resources Corp. reported net earnings of nearly $144 million for the second quarter of 2013.

July 29, 2013

Halliburton Pleads Guilty to Destroying Macondo Evidence

A unit of Halliburton Co. on Thursday agreed to plead guilty to one misdemeanor count of destroying evidence in connection with the April 2010 Macondo well blowout in the deepwater Gulf of Mexico, the U.S. Department of Justice (DOJ) said. The settlement is subject to district court approval.

July 29, 2013

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 last week.

July 29, 2013

Pennsylvania Supreme Court Denies PUC Appeal on Act 13

The Pennsylvania Supreme Court last Thursday quashed an appeal by the state Public Utility Commission (PUC), leaving in place an earlier court order that the commission cannot use a review process to enforce some provisions of Act 13, the state’s omnibus Marcellus Shale law.

July 29, 2013
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