Revision

The Pennsylvania Public Utility Commission’s (PUC) revision of distribution figures for impact fee revenue generated by Act 13 is mixed news for municipalities, with a bigger pot of revenue to divvy up, but most will get a smaller share.

“The more people think things are going to stay the same, the more surprising it will be when they change,” might be an apt revision of an old proverb for today’s shale gas industry.

“The more people think things are going to stay the same, the more surprising it will be when they change,” might be an apt revision of an old proverb for today’s shale gas industry.

Following the one-two bearish punch Thursday of an upward revision in natural gas storage levels and an unexpected 16 Bcf injection for the week ended Nov. 14, December natural gas futures were on the rebound Friday, reaching a high of $6.548 before closing at $6.480, up 16.4 cents from Thursday’s close and 16.8 cents higher than the previous week’s finish.

FERC approved a revision to the Alliance Pipeline LP tariff allowing the pipeline to waive a gas quality specification on a first come, first served basis. This will allow Alliance to receive gas produced in association with oil production from Bakken play wells.

FERC approved a revision to the Alliance Pipeline LP tariff allowing the pipeline to waive a gas quality specification on a first come, first served basis. This will allow Alliance to receive gas produced in association with oil production from Bakken play wells.

The Canadian Association of Oilwell Drilling Contractors (CAODC) signaled that the latest revision to its drilling forecast “continues, and deepens, the trend of reduced natural gas drilling.” The forecast reduction issued Thursday follows lower gas drilling numbers, primarily in Alberta and British Columbia, which began to fall dramatically last year.

The Canadian Association of Oilwell Drilling Contractors (CAODC) signaled that the latest revision to its drilling forecast “continues, and deepens, the trend of reduced natural gas drilling.” The forecast reduction issued Thursday follows lower gas drilling numbers, primarily in Alberta and British Columbia, which began to fall dramatically last year.

El Paso Corp. CEO Doug Foshee on Friday issued a report card on the progress the Houston-based company has made in the past few months, and though it’s not in line for valedictory status at this point, the company expects to achieve its production target this year. And, he said, there’s been above-average progress in asset sales and in reducing expenses.