A check, which says markets, not boosters, decide the fate of projects, is built into the biggest plan for exporting liquefied natural gas (LNG) from new terminals on the northern Pacific Coast of British Columbia (BC).
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Nabors Sees ‘Pronounced’ Shortfall in Pressure Pumping, Top Drives
Oilfield services giant Nabors Industries Ltd. last week warned that operating results for the second quarter will fall below consensus estimates because of a “pronounced” shortfall in the pressure pumping and top drive completion service lines.
Researchers Differ Over How Shale Impacts Ohio Housing
Researchers commissioned by state government agencies have offered differing opinions over whether a housing shortage is on the horizon in eastern Ohio, where development is ramping up in the state’s portions of the Marcellus and Utica shales.
OPEC Feeling the Weight of U.S. Shales
Prolific oil production from U.S. shales is weighing on the need for imports, OPEC acknowledged in its latest Monthly Oil Market Report (MOMR), and analysts at Barclays predicted that the Organization of the Petroleum Exporting Countries will see its influence over market balances decline over the next few years.
SM Energy Selling Anadarko Basin Properties
Denver-based SM Energy Co. is marketing all of its properties in the Anadarko Basin, including its Granite Wash interests. The sale of the gas-weighted assets is part of normal high-grading activities, the company said. Proceeds could be spent in the Permian Basin or in the Eagle Ford Shale, analysts speculated last week.
Exco Still Shopping After $1B Deal
Exco Resources Inc. is back in the acquisition game after having struck a $1 billion deal with Chesapeake Energy Corp., CEO Douglas Miller said last week. There are plenty of deals, and financing is available, he told analysts following the company.
Natural Gas Surplus Prompts Goldman to Cut Price Forecast
Dry natural gas production in the United States, boosted by stronger pipeline flows from the Marcellus Shale, led Goldman Sachs analysts last week to revise their forecasts down for prices and lift expectations for end-of-summer storage levels.
Connecticut Natural Gas Pipeline, Distribution to be Expanded
Connecticut Gov. Dannel Malloy has signed legislation that would expand the state’s natural gas distribution system at the same time as a planned expansion of Algonquin Gas Transmission will increase supply access to New England.
Appalachian Production Crying Out for Interstate Connections
Production in the Marcellus Shale over the past few years “has been nothing short of epic,” and it is straining infrastructure to the point that the Appalachian region is in need of larger interstate connections, said Genscape Inc. senior natural gas analyst Andy Krebs.
Go to the Well for More Revenue, Says OK Taxman
An Oklahoma tax break for horizontal wells enacted in 2010 is depriving the Sooner State of revenue that could beef up its rainy day fund and should be reconsidered, the state’s secretary of finance and revenue said.