Rolling

Shale basins have rewritten the book on natural gas supply, and now they’re turning the outlook for natural gas liquids (NGL) on its head. Next will be crude oil as the technology transfer to these plays takes hold in earnest, according to an analysis expected to be finished in about three weeks.

As promised, the administration of Gov. Tom Corbett is rolling back restrictions on leasing Pennsylvania parks and forests for natural gas development.

As promised, the Corbett administration is rolling back restrictions on leasing Pennsylvania parks and forests for natural gas development.

Last week’s freezing temperatures in the Southwest, which froze some natural gas wells in Texas’ Barnett Shale and caused rolling blackouts in much of the state, were the most severe test of Texas natural gas deliverability since the winter of 1989, a reliability council representative told the Railroad Commission of Texas (RRC) Tuesday.

Natural gas futures drew to a mixed close Tuesday as traders cited little in the way of new fundamental data and noted the rolling of short positions into more deferred contract months. At the close November futures rose 2.8 cents to $3.629 and December fell 1.8 cents to $3.992. November crude oil lost 54 cents to $81.67/bbl.

With the peak season for Atlantic hurricanes upon us as the calendar flips to August, natural gas futures kept the momentum to the upside rolling on Friday as the September contract added 9.6 cents to $4.923. The contract closed the week 36 cents higher than the previous week.

In rolling out the Interior Department’s budget request of $12.2 billion for fiscal year (FY) 2011, Secretary Ken Salazar last Monday said the department would initiate a rulemaking next year to raise onshore royalty rates for oil and natural gas production on federal land.

In rolling out the Interior Department’s budget request of $12.2 billion for fiscal year (FY) 2011, Secretary Ken Salazar Monday said the department would initiate a rulemaking next year to increase onshore royalty rates for oil and natural gas production on federal land.

In rolling out the Interior Department’s budget request of $12.2 billion for fiscal year (FY) 2011, Secretary Ken Salazar Monday said the department would initiate a rulemaking next year to increase onshore royalty rates for oil and natural gas production on federal land.