Physical gas for Thursday delivery jumped on average 8 cents nationally in Wednesday’s trading, with only a handful of individual points in the loss column surrounded by widespread gains. A large cold front was dropping temperatures well below normal as it moved out of the Plains and Midwest into the Great Lakes and into Texas.
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Pioneer Downspacing, Zipper-Fracking in Texas Plays
During the third quarter, Pioneer Natural Resources Co. turned in some landmark results in the Wolfcamp Shale as the company continued to de-risk the West Texas play.
Colorado Rains on Anadarko, But Wattenberg Still Doubles Output
Anadarko Petroleum Corp.’s infrastructure buildout in Colorado’s Wattenberg field was slowed by recent flooding, and about 250 wells remain shut-in, but the field’s output in the third quarter still more than doubled from a year ago, with U.S. onshore volumes breaking records.
Ultra Turns on Mojo, Reduces Pinedale Well Costs 14%
Ultra Petroleum Corp., whose fortunes long have been linked to onshore natural gas, still is struggling a bit to recover from the “train wreck” that was 2012, and in the third quarter it got its mojo on track, with drilling efficiencies improving enough to allow the operator to reduce 2013 capital spending by $30 million, while still maintaining production forecasts.
PG&E Faces Another $8.1M Fine for Inept Pipe Testing
In what has become a public relations — and financial — concern, California regulatory staff on Tuesday slapped Pacific Gas and Electric Co. with an $8.1 million citation for allegedly failing to meet federal requirements in inspecting part of its natural gas transmission pipeline system earlier this year.
Sempra Expects LNG Export OK By Year’s End
Sempra Energy senior executives said Tuesday they remain optimistic that federal approvals will be in hand by the end of this year for a $9-10 billion liquefied natural gas (LNG) export terminal at existing import facilities in Cameron, LA.
Utah Judge Rejects Bush-Era BLM Public Lands Plan
A district court judge in Utah Monday overturned a Bush-era resource management plan (RMP) that opened more than 4,200 miles of dirt roads and trails in part of the state to off-road vehicles.
Fracking Not Source of Methane Leaks, Senate Panel Told
Hydraulic fracturing (fracking) is not the culprit in methane emissions, but other parts of the drilling process are, and they are fixable, according to a panel of industry, academic and environmental representatives.
Chesapeake No Longer ‘Land-Driven,’ Says CEO
Chesapeake Energy Corp. still has a way to go before it reaches optimal flying altitude, but CEO Doug Lawler has set the management team on a course designed to strip the portfolio to those that perform the best, which means more assets likely will be sold into 2014.
Wyoming Lawmakers to Study Taking Back Federal Lands
An interim state legislative task force in Wyoming has directed staff to compile a report for two committees assessing the prospects for the state attempting to take back federally managed public lands, possibly following a tack Utah took last year. Any federal-to-state transfer of land control would be applauded by the oil and natural gas industry as drilling permits historically have taken exponentially longer to receive from the federal government.