Rise

The shift to shales — and the rise in oil prices — has lifted the domestic rig count close to 20-year highs and shifted the landscape, helped several states join Texas, Oklahoma and Louisiana in the chase for natural gas and oil production, according to Headwaters Economics.

Driven by the rise in oil prices and new technology, U.S. onshore drilling has returned to pre-recession levels, with the rig count nearing a 20-year high, according to researcher Headwaters Economics.

Nearly all of the cash market continued to rise Tuesday, but its recent overall bullishness may be coming to an end as weather-based load diminishes and prior-trading day futures guidance grows a bit more negative.

Although some had expected a prior-day futures rise along with a cold North and a hot South to yield a continuation of rising prices Thursday, it was not to be. Declines were small in most cases and there were quite a few instances of flat to slightly higher numbers, but the cash market overall was softer going into the Good Friday/Easter holiday weekend.

Horizontal drilling and hydraulic fracturing are on the rise, necessitating expansion of Weir Oil & Gas unit Weir SPM’s manufacturing and services facility in Fort Worth, TX, the company said.

Frigid temperatures and frozen precipitation extending into nearly all sections of the U.S. and Canada caused spot prices to rise at all locations except three in Western Canada Wednesday.

Characterizing the rapid rise of shale gas as a surprise to the entire industry, Sempra Energy’s top executive heading its liquefied natural gas (LNG) operations cautioned that the industry’s current game-changer needs to be viewed from both global and historical perspectives. Darcel Hulse, Sempra LNG CEO, told NGI that the whole shale gas story still needs to play out.

Characterizing the rapid rise in shale gas as a surprise to the entire industry, Sempra Energy’s top executive heading its liquefied natural gas (LNG) operations cautioned that the industry’s current game-changer needs to be viewed from both global and historical perspectives. Darcel Hulse, Sempra LNG CEO, told NGI’s Shale Daily that the whole shale gas story still needs to play out.

Residents of Fort Worth, TX, saw the sun rise on the shale gas phenomenon as producers targeted the Barnett Shale play far beneath their neighborhoods. Now — following years of midstream development, and a deadly pipeline blast in California — some in the state’s fifth largest city are calling for a reset on how pipeline siting decisions are made.