Reserve

Former Federal Reserve Chairman Alan Greenspan coined his famous phrase “irrational exuberance” in late 1996; what followed — albeit a few years later — was the dot-com bust. Now, nearly a decade later Greenspan’s prescient commentary is being applied to the exploration and production (E&P) industry.

Former Federal Reserve Chairman Alan Greenspan coined his famous phrase “irrational exuberance” in late 1996; what followed — albeit a few years later — was the dot-com bust. Now, nearly a decade later Greenspan’s prescient commentary is being applied to the exploration and production (E&P) industry.

Despite “concerns” expressed by the Treasury Department and Federal Reserve Chairman Alan Greenspan over natural gas provisions in the measure, the House, by a voice vote Wednesday, passed legislation that reauthorizes the Commodity Futures Trading Commission (CFTC) and strengthens the ability of the agency to crack down on manipulation in natural gas markets.

Sonatrach, the Algerian energy company, announced Sunday it has signed a letter of intent with Occidental Energy Ventures to reserve capacity at a liquefied natural gas (LNG) import terminal that Occidental is building on the Texas Gulf Coast.

Sen. Mary Landrieu (D-LA) introduced legislation Thursday that would automatically reserve a “significant portion” of Outer Continental Shelf (OCS) revenues for distribution to the five energy-producing coastal states that aren’t restricted by moratoria off their shores.

Federal Reserve Chairman Alan Greenspan last Tuesday said he believes the wave of liquefied natural gas (LNG) imports destined for the United States will dampen gas prices, “possibly significantly,” in the years ahead.

With help from a record number of natural gas wells drilled and completed last year, U.S. producers booked between 24.1 Tcf and 32.7 Tcf of domestic gas reserve additions, bringing domestic reserves up to 190 Tcf for the first time since 1986, the American Gas Association (AGA) estimated in an annual reserves report. However, AGA noted that producers are still struggling to maintain production because of sharp decline rates, smaller yield reservoirs and a focus on unconventional resources.

Federal Reserve Chairman Alan Greenspan on Tuesday said he believes the wave of liquefied natural gas (LNG) imports destined for the United States will dampen gas prices, “possibly significantly,” in the years ahead.

With help from a record number of natural gas wells drilled and completed last year, U.S. producers booked between 24.1 Tcf and 32.7 Tcf of domestic gas reserve additions, bringing domestic reserves up to 190 Tcf for the first time since 1986, the American Gas Association (AGA) estimated in an annual reserves report. However, AGA noted that producers are still struggling to maintain production because of sharp decline rates, smaller yield reservoirs and a focus on unconventional resources.