Despite the high level of natural gas storage overhang at the end of last winter, which resulted from record gas production last year and above-normal winter conditions, constructing new storage facilities in the United States is not supported by market conditions at this time, according to a report issued Thursday by FERC’s Office of Enforcement (OE).
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Continuing low prices, which have resulted in large part from an oversupply of natural gas, will prompt exploration and production (E&P) companies to cut dry gas capital expenditures (capex) by nearly 40% this year, Moody’s Investors Service said Friday.
A contentious House committee hearing over an Environmental Protection Agency (EPA) report on possible natural gas contamination of well water started off with the ejection from the hearing room of director Josh Fox of the controversial film, Gasland.
BP plc won’t be able to collect from Halliburton Co. any of the cleanup costs and economic losses that resulted from the Macondo well blowout in 2010 in the deepwater Gulf of Mexico (GOM), a district judge in New Orleans has ruled. U.S. District Judge Carl Barbier earlier in January made a similar ruling for Transocean Ltd.
Due to a pigging operation resulting in “an excessive amount of emulsified liquids, water and other nonspec material arriving onshore,” the necessary treatment for the emulsified liquids has resulted in a takeaway delay, Stingray said. Being unable to deliver gas to downstream pipelines, Stingray declared a force majeure and began refusing to accept nominations Wednesday until further notice.
National Oilwell Varco Inc.’s (NOV) backlog for capital equipment orders jumped by one-third from the end of March to the end of June, the oilfield services operator said Tuesday.
Schlumberger Ltd. is seeing continued strength in its North American operations in part because of its hydraulic fracturing (fracking) technology, which is reducing time and costs to complete a well, management said Friday.
Drilling in the Haynesville Shale helped Louisiana more than double its natural gas production in April from two years ago, and production in the Lower 48 states increased 10.6% (6.66 Bcf/d) to 69.05 Bcf/d during the same time period, according to the Energy Information Administration’s (EIA) monthly natural gas report.
A joint criminal investigation has been launched regarding the Pacific Gas and Electric Co. (PG&E) pipeline rupture last September that resulted in an explosion and fire that killed eight people and wreaked havoc in a San Bruno residential neighborhood about 10 miles south of San Francisco, according to a brief disclosure by PG&E in its June 9 8-K filing to the Securities and Exchange Commission (SEC).
ExxonMobil Corp.’s top gun on Wednesday took a shot at BP plc CEO Bob Dudley’s assertion that the Macondo well blowout in the Gulf of Mexico last April resulted from industry-wide safety lapses.