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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E&Ps to Slash Dry Gas Capex, Moody’s Says
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.
February 22, 2012
Director Arrested Ahead of House Fracking Hearing
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.
February 2, 2012
Judge Rules BP Can’t Collect Macondo Cleanup Costs from Contractors
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.
February 1, 2012
Transportation Notes
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.
November 17, 2011
National Oilwell Varco Says Equipment Backlog Jumps
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.
October 26, 2011
Schlumberger’s Reservoir Modeling Systems Build Fan Base
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.
July 25, 2011
Haynesville Drilling Doubles Louisiana’s Production
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.
July 5, 2011
Criminal Probe Opened on PG&E Pipe Rupture
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).
June 21, 2011
BP Chief’s Comments a ‘Disservice’ to Industry, Says Tillerson
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.
March 14, 2011
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