Encana Corp. was given the green light on Friday to start up the long-awaited Deep Panuke natural gas project offshore Nova Scotia.
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Oil, NatGas Produced from Federal Lands Contributed $230B to ’12 Economy
Energy produced from U.S. Department of Interior (DOI) lands in FY2012 — which included 626 million bbl of crude oil, 5 Tcf of natural gas and 460 million tons of coal — contributed $230 billion to the national economy and supported 1.2 million jobs, according to the government agency’s newly releasedEconomic Report for Fiscal Year 2012.
Fracking Lifted U.S. Oil, Gas Proved Reserves in 2011
U.S. oil and natural gas exploration and production companies added 31.2 Tcf of wet natural gas proved reserves and almost 3.8 billion bbl of crude oil and lease condensate proved reserves in 2011, the Energy Information Administration (EIA) said in areportissued Thursday.
PG&E Facing More San Bruno Scrutiny
Resolution of proposed penalties of up to $2.25 billion for San Francisco-based Pacific Gas and Electric Co. (PG&E) may not come this year after a state regulatory administrative law judge (ALJ) asked for additional data on how any eventual penalties might affect finances. In addition, the specter of a criminal case has emerged.
Halcon to Spend ‘Significant Time’ in Utica
Halcon Resources Corp. said an exploratory well targeting the Utica Shale has been producing more than 2,000 boe/d. The company said it plans to spend “significant time” in the play, where it has the acreage to drill up to 500 gross wells.
Capacity Market Still Challenging Boardwalk
Capacity recontracting continued to weigh on Boardwalk Pipeline Partners LP revenues during the second quarter, but “every year, we seem to work out a little bit more of the problem,” CEO Stan Horton told analysts during an earnings conference call.
Capacity Constraints in Marcellus Restrict Transco
Williams on Thursday restricted some natural gas pipeline services on its mainstay Transcontinental Gas Pipe Line LLC (aka Transco) because of capacity constraints in the Pennsylvania portion of the Marcellus Shale.
Cool Temps, Gas Surplus Send August Bidweek Down 21 Cents
This year’s unseasonably cool summer in parts of the eastern United States and a natural gas supply glut brought on by the country’s shale production boom are continuing to put downward pressure on natural gas prices, as evidenced byNGI’s August Bidweek Survey. The national spot gas average for the month dropped 21 cents from July to average $3.45/MMBtu.
Northeast Leads ‘Free Fallin’ July Bidweek
With screen prices at a three-month low it’s no surprise that July bidweek came in a bit soft.NGI’s National Spot Gas Average for July bidweek came in at $3.66, a 48-cent decline from June 2013, but 94 cents higher than the July 2012 bidweek average.
Wisconsin Eyeing Gas Growth, Utility CEO Says
Customer fuel-switching, growing gas-fired generation needs tied to more reliance on renewable power and pipeline infrastructure expansions in the western parts of the state have Wisconsin’s major combination utility anticipating a growing role for natural gas, according to the CEO of Wisconsin Energy (WE).