Remarkable

Researchers with the U.S. Geological Survey (USGS) say there has been a “remarkable” increase in the number of earthquakes in the Midcontinent region, and believe the seismic activity is more than likely attributable to injection wells that handle wastewater from oil and gas drilling.

Houston’s Cabot Oil & Gas Corp., which now is focused on shale exploration, said Tuesday it sold its remaining investment in Canada for $61.3 million.

A two-year-old study that detailed the potential of unconventional natural gas supplies already needs to be updated because remarkable advancements in drilling technology are driving recoverable gas reserves ever higher, a Navigant Consulting Inc. director said last week.

Although record-setting heat levels were due to end after Tuesday in the Northeast and weather-based load was not expected to be remarkable elsewhere except possibly in Western Canada and the desert Southwest, prices were up at a solid majority of points Tuesday. The overall cash market firmness was also able to shrug off a 4.4-cent decline by May futures a day earlier.

The remarkable strength of last week’s market came to an end Friday as prices fell at all points. Nearly all of the cooling load that remained in the South Friday was expected to disappear over the weekend, and although the Midwest and Plains could anticipate substantially colder weather Saturday accompanied by continued snow in some areas, a warming trend would be getting under way Sunday.

With natural gas prices uncertain, there was a “remarkable” step change in deepwater demand and price driving last week’s Gulf of Mexico (GOM) Lease Sale 205, according to Raymond James & Associates.

Natural gas production from the Barnett Shale of Texas in the past three years has been nothing short of remarkable, but few realize that at least 84% of the entire play still remains untapped. Digging out the gas play’s full potential will rely on new technology that’s still to come, Devon Energy Corp. CEO J. Larry Nichols said last week.

Natural gas production from the Barnett Shale of Texas in the past three years has been nothing short of remarkable, but few realize that at least 84% of the entire play still remains untapped. Its full potential will rely on new technology not yet available, Devon Energy Corp. CEO J. Larry Nichols said Wednesday.

The remarkable rock in the Barnett Shale of North Texas eventually may be the largest natural gas find in the United States, industry experts said Monday. But the “next Barnett Shale” may be out there, with similar shale formations in more than half of the Lower 48 states.