Revised

Morningstar Inc. has revised its marginal cost estimate for U.S. natural gas down to $5.40/Mcf from a prior projection of $6.50, but analysts said they remain bullish about prices over the long term.

Morningstar Inc. on Thursday revised its marginal cost estimate for domestic natural gas down to $5.40/Mcf from a prior projection of $6.50, but analysts said they remain bullish about prices over the long term.

SandRidge Energy Inc. on Wednesday agreed to sell its Permian Basin portfolio for $2.6 billion in cash to privately held Sheridan Production Partners II, a sale that has been anticipated since early November.

The Railroad Commission of Texas (RRC) has released the latest revised draft amendments of rules relating to the well integrity issues of well casing, cementing, drilling and completions, cathodic protection wells, and seismic holes and core holes. The draft revisions are being circulated for an informal comment period, which is to end Dec. 31. The revisions are in response to comments RRC staff has received so far. The proposals are working drafts that have not been finalized and have not been submitted to the Texas Register for publication for public comment. Revisions are proposed to rules relating to cement sheath thickness; drilling fluid programs; isolation of productive zones; surface casing testing; cement specifications, quality and requirements; new requirements for wells that are to be hydraulically fractured (fracked); minimum separation of wells to be fracked; and well control/blowout preventer and pipeline shut-off valve requirements. One of the proposed revisions would ban fracking at noncemented wells when the zone being fracked ends within 1,000 vertical feet of a usable aquifer.

New York Gov. Andrew Cuomo said the state will miss a Nov. 29 deadline for revised rules governing high-volume hydraulic fracturing (HVHF), a development that should reopen the rulemaking process to at least one public hearing.

FERC Thursday approved a final rule that updates and improves standards for business practices of interstate natural gas pipelines, including new and revised standards aimed at improving the coordination between pipelines and electric utilities.

Pennsylvania officials are renewing their effort to get fellow members of the Delaware River Basin Commission (DRBC) to agree to revised water quality regulations that could ultimately open the basin to expanded Marcellus Shale natural gas drilling.

Standard & Poor’s Ratings Services (S&P) has revised its natural gas liquids (NGL) pricing assumptions for 2012, 2013 and 2014. And analysts at Wells Fargo Securities last week warned that some might be caught off guard by continuing weakness in the sector.

Standard & Poor’s Ratings Services (S&P) has revised its natural gas liquids (NGL) pricing assumptions for 2012, 2013 and 2014.