Reduce

After a second quarter of strong production growth in the Bakken Shale and Anadarko Woodford, Oklahoma City-based Continental Resources Inc. said it is ahead of schedule on its five-year plan to triple production.

Trends that surfaced last year indicate “a continued preference for crude oil and liquids-rich gas development over dry gas options,” and are likely to reduce — and possibly reverse — recent domestic dry gas production growth rates, according to a new report from Pace Global.

Trends that surfaced last year indicate “a continued preference for crude oil and liquids-rich gas development over dry gas options,” and are likely to reduce — and possibly reverse — recent domestic dry gas production growth rates, according to a new report from Pace Global.

At the request of the oil and natural gas industry, the Obama administration will extend the public comment period on proposed Bureau of Land Management (BLM) rules governing hydraulic fracturing (fracking).

Institutional investor groups representing trillions of dollars in assets have called on the oil and natural gas industry to use best practice control technologies to reduce global methane emissions from hydraulic fracturing (fracking) of unconventional wells.

The head of the Commodity Futures Trading Commission decried a House appropriations subcommittee’s vote earlier this week to reduce spending for the agency in fiscal year (FY) 2013. The move comes at a time when the CFTC is gearing up to oversee the multi-trillion-dollar derivatives market.

The head of the Commodity Futures Trading Commission decried a House appropriations subcommittee’s vote last week to reduce spending for the agency in fiscal year (FY) 2013. The move comes at a time when the CFTC is gearing up to oversee the multi-trillion-dollar derivatives market.

Chesapeake Energy Corp. is in advanced negotiations to sell all of its midstream assets, including its stake in Chesapeake Midstream Partners LP (CHKM), for more than $4 billion, a transaction that could be completed in the next few days, sources told NGI’s Shale Daily on Wednesday. The bidder is said to be private equity giant Global Infrastructure Partners (GIP), which initially helped to fund the master limited partnership (MLP) and which continues to be a joint partner.

Coal-to-gas switching, increased power generation use, a slight uptick in industrial demand and a few gas field shut ins have helped a bit to reduce U.S. gas storage levels, but unless weekly storage injections remain below 2 Bcf/d through the rest of the injection season, some energy analysts think maximum levels will be reached by mid September.