Colorado’s natural gas and oil industry has faced pressure from all sides in recent years, reviled by landowners and litigated by environmental groups, but Gov. Jared Polis has shown he can compromise, PDC Energy Inc. executives said last week. CEO Bart Brookman discussed second quarter results in a wide ranging conference call that hit on…
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Crestwood Plans for Future Without DAPL, Expects Shut-In Volumes to Fully Return in 4Q
Crestwood Equity Partners LP is taking a three-pronged approach to ensuring its Bakken Shale customers are able to move their crude oil volumes to market in the event that the Dakota Access Pipeline (DAPL) shuts down, either temporarily or permanently. On the second quarter earnings call held Tuesday, CEO Bob Phillips said the commercial and…
Colorado Oil, Natural Gas Regulator Raises Mill Levy to Balance Budget Amid Pandemic
The Colorado Oil and Gas Conservation Commission (COGCC) has adopted a mill levy rate increase in order to balance its budget amid revenue shortfalls caused by the Covid-19 pandemic and subsequent downturn in commodity pricing. Mill levies, the regulator’s main source of revenue, are property taxes whose rates are expressed in mills, which are equal…
Finally Toppled by Debt, Chesapeake in Bankruptcy
Chesapeake Energy Corp., once a symbol of the American natural gas industry’s revival and a disruptive leader that helped spark the nation’s unconventional boom, filed for Chapter 11 protection on Sunday to wipe out $7 billion of debt. The move follows months of speculation and years of cost-cutting initiatives at the Oklahoma City-based independent, which…
Turn in Rockies Natural Gas Prices Strengthens Ultra Balance Sheet
Natural gas heavy Ultra Petroleum Corp. got a lift in the first quarter from resurgent prices in the Rockies, which helped boost revenues and deliver a profit as the company continues to focus on stabilizing operations in the Green River Basin.
Rockies Natural Gas Supply Said Ample for Export Market
Enough robust natural gas supply exists in the Piceance Basin of Colorado and the Uinta Basin of Utah to serve western markets and provide a surplus to export overseas, the Consumer Energy Alliance (CEA) said in a new report.
Tallgrass, Kinder Venture to Boost Rockies Oil Takeaway
Tallgrass Energy LP (TGE) and Kinder Morgan Inc. (KMI) on Tuesday agreed to boost crude oil takeaway capacity in the Power River and Denver-Julesburg basins, where increased interest in the plays has spurred a host of new infrastructure projects to relieve growing constraints in the region.
NGI The Weekly Gas Market Report
Changing Supply Dynamics Likely to Trap More Rockies NatGas, Say Experts
The steady supply growth that’s expected from the Appalachian Basin and Western Canada, along with rising associated output from oil-directed drilling on the Gulf Coast and Midcontinent, are poised to trap Rocky Mountain natural gas, according to speakers at a recent conference.
NGI The Weekly Gas Market Report
REX Looks to Reload With DJ Output in Competitive NatGas Landscape
After seeing production declines in recent years, the Rockies region often goes overlooked in the North American natural gas supply landscape, overshadowed by the impressive growth in the Marcellus and Utica shales, and the promise of new associated gas output from oil-directed drilling on the Gulf Coast and Midcontinent.
Appalachian Production Growth, East-to-West Shift Likely to Lead to NatGas Oversupply
Natural gas infrastructure growth may be outpacing efforts to find more supply-demand balance through U.S. gas exports, according to a panel of experts at the recent LDC Gas Forum Rockies & West in Denver conference.