Refuge

Producers that have been seeking refuge from low natural gas prices by ramping up production of natural gas liquids (NGL) will likely experience headwinds as NGL prices come under pressure from softer demand and abundant supply, noted analysts at Tudor, Pickering, Holt & Co. Securities Inc. (TPH) Monday.

Congressman Devin Nunes (R-CA) has introduced new legislation that would open up a portion of the Alaska National Wildlife Refuge (ANWR) to oil and gas drilling and would use the leasing revenue and the federal share of royalties from the ANWR production — estimated at $40 billion — to fund a number of renewable energy programs.

Congressman Devin Nunes (R-CA) has introduced new legislation that would open up a portion of the Alaska National Wildlife Refuge (ANWR) to oil and gas drilling and would use the leasing revenue and the federal share of royalties from the ANWR production — estimated at $40 billion — to fund a number of renewable energy programs.

A stand-alone bill to open the coastal plain of the Arctic National Wildlife Refuge (ANWR) to oil and gas drilling passed the U.S. House Thursday on a vote of 225 to 201. However, the vote was largely symbolic as drilling backers don’t have the Senate votes to overcome a filibuster.

A stand-alone bill to open the coastal plain of the Arctic National Wildlife Refuge (ANWR) to oil and gas drilling passed the U.S. House Thursday on a vote of 225 to 201.

Less than a month after Congress voted to deny producers access to the energy-rich Arctic National Wildlife Refuge (ANWR), the Interior Department this week announced that it will make available hundreds of thousands of acres of North Slope tundra for oil and natural gas leasing.

This year appeared to be the best opportunity for Congress to open the Arctic National Wildlife Refuge (ANWR) to energy development and expand leasing in protected offshore regions, but that chance may have gone down in flames late Wednesday.

Freshman Sen. Mel Martinez (R-FL) said he voted to open up Alaska’s Arctic Natural Wildlife Refuge (ANWR) to energy exploration and production earlier this month after receiving assurances from the Bush administration that the current moratorium on oil and natural gas drilling off Florida’s Gulf Coast would be extended for five years to 2012.

Freshman Sen. Mel Martinez (R-FL) said he voted last week to open up Alaska’s Arctic Natural Wildlife Refuge (ANWR) to energy exploration and production after receiving assurances from the Bush administration that the current moratorium on oil and natural gas drilling off Florida’s Gulf Coast would be extended for five years to 2012.