A slowdown in oil and gas activity in Oklahoma between late 2014 and late 2016 created a $1.5 billion, or 15.4%, loss in total state tax revenue, according to a report released last month by the State Chamber of Oklahoma.
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EIA Storage Data Offers Few Surprises, Keeping Natural Gas Futures Steady
Natural gas futures prices charted a relatively tranquil pattern Thursday after the Energy Information Administration’s (EIA) weekly storage report showed a 36 Bcf withdrawal from U.S. stocks that was in line with estimates.
Links Between Fracking, Earthquakes Remain Elusive, Canadian Report Finds
Links between hydraulic fracturing (fracking) and earthquakes, and predicting and preventing the tremors, remain riddles requiring far more scientific study, according to a report commissioned by the British Columbia (BC) government.
North Dakota Considers Underground Natural Gas Storage to Cut Flaring
If various regulatory and economic hurdles can be overcome, storage of produced natural gas through reinjection in the oil patch may prove to be a breakthrough for curbing flaring in North Dakota’s Bakken Shale, according to a state-sponsored report released Wednesday.
NGI The Weekly Gas Market Report
DOE Highlights Case for Appalachian NGL Storage Hub in Report to Congress
The Department of Energy (DOE) on Tuesday unveiled a long-awaited report demonstrating the feasibility of developing a natural gas liquids (NGL) storage hub in the Appalachian Basin that it says would increase supply and geographic diversity for the nation’s petrochemical and plastics industries.
As Permian Output Upends Global Oil Markets, E&Ps Advised to Prepare
U.S. oil and natural gas independents need to position themselves to survive and thrive as the domestic markets are overhauled and excess onshore production is exported to global markets, according to an analysis.
Merrimack Valley Gas Pipeline Contractors Lacked Necessary Replacement Info, Says NTSB
A series of natural gas explosions and fires that rocked three Massachusetts communities in September killing one man and damaging 131 structures may have been caused by gaps in construction work orders for the old system that were prepared by NiSource Inc. subsidiary Columbia Gas of Massachusetts, according to the National Transportation Safety Board (NTSB).
Offshore Oil, Gas Spending Forecast to Usurp U.S. Onshore Investments in 2019
A healthy surge in finalizing offshore oil and natural gas projects is expected next year and likely will topple the onshore unconventional industry as the leader in spending, an analysis by Rystad Energy indicates.
E&P ‘Specialists’ Finding Value in Smaller Focus, but For How Long?
Oil and natural gas production specialization, i.e. focusing on one area or play, is enabling operators in North America’s onshore to achieve more efficiencies and improve financial results, but the strategy over the longer term could in fact create significant risk from market volatility.
No Surprises From EIA Storage as Market Eyes Storm Impacts; Natural Gas Futures Steady
As potential demand destruction from Hurricane Florence continues to command the natural gas market’s attention, the Energy Information Administration (EIA) reported a 69 Bcf build for the week ended Sept. 7 that barely moved the needle.