With the official opening of the Atlantic hurricane season less than two weeks away — and the remains of Tropical Cyclone Alberto, the first named storm of the year, dissipating several hundred miles off the Mid-Atlantic coast — forecasters at Weather Services International (WSI) said Tuesday that they continue to expect a relatively quiet hurricane season this year.
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Consol Getting Wet in Shales in Early Drilling
Consol Energy Inc. began its shift toward liquids in the first quarter, moving into the wet-gas portions of the Marcellus and Utica shales of southwestern Pennsylvania, West Virginia and Ohio.
North Dakota Continues to Set Production Records
After a record-setting 2011, North Dakota continues to set all-time highs in oil and natural gas production, producing wells and rig counts, according to the latest statistics from the state’s Department of Mineral Resources (DMR).
France’s Total Researching Colorado Oil Shale
While its investments with Chesapeake Energy Corp. in Barnett and Utica shale gas and oil plays have been widely publicized, Paris-based Total SA also is quietly investing in a major research and development (R&D) project looking at in-ground ways to develop oil shale, an unrealized dream of energy independence that the industry and some policymakers have flirted with for decades.
British Columbia Nurturing, Growing Shale Gas Resource
Even though northern shale drilling remains in its infancy, the British Columbia cradle of the emerging natural gas source is catching up fast to the traditional mainstay of Canadian supplies.
Baker Hughes CEO: ‘Tens of Thousands’ of North American Drilling Sites
Exploration in North America’s onshore remains in its earliest stages because producers are eyeing “tens of thousands” of locations for future drilling, Baker Hughes Inc. CEO Martin Craighead said Tuesday.
Futures Seen Falling Further; February Closes Down
February natural gas reacted to a weakening weather outlook and retreated under $3 again Tuesday. There remains little indication that the storage surplus will stop widening anytime soon, and traders look for continuing weakness. At the close February had fallen 7.0 cents to $2.941 and March had given up 8.0 cents to $2.970. February crude oil rose 93 cents to $102.24/bbl.
Marcellus Seen Tilting Market Westward
El Paso Corp.’s Ruby Pipeline and Kinder Morgan Energy Partners LP’s (KMP) Rockies Express Pipeline (REX) have linked “western and Northeast markets in a way that they were not linked historically,” according to Bentek Energy LLC. And with Kinder Morgan Inc.’s (KMI) pending acquisition of El Paso, the two pipelines are slated to be corporate cousins, at least for awhile.
Pennsylvania Closer to Regulating Gathering Lines
The Pennsylvania Senate unanimously approved legislation Tuesday to give state regulators oversight over gathering lines in the state.
NOAA: La Nina to Chill California This Winter
The current La Nina event — the cooling of Pacific Ocean surface temperatures off the coast of South America — remains unchanged and is expected to continue through the Northern Hemisphere’s winter season, influencing weather patterns across the United States for the next several months, according to the National Oceanic and Atmospheric Administration (NOAA).