Natural gas is seen as a fuel of the future by the authors of Statoil’s “Energy Perspectives 2012” report. “Global gas demand is projected to increase by 60% by 2040. Positive drivers include significant new available supply at moderate costs and environmental policies,” said Chief Analyst Eirik Waerness. Natural gas is the cleanest fossil fuel, and Statoil believes that natural gas will serve as an important and cost-efficient means to meet the challenge of global warming, he said. In aggregate, the fossil fuel share of the global energy mix is expected to drop from 81% in 2010 to 73% in 2040: “In OECD Europe, renewables is expected to more than double towards 2040, and becoming the second most important fuel with a 24% share of the energy mix in the region,” said Waerness. This development is driven by climate and environmental policies, energy security concerns, as well as price and cost developments, he said.
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Booming Bakken Creating Hiring, Housing Surge
Naggingly low natural gas prices apparently haven’t dimmed prospects in the Bakken Shale in North Dakota and Montana, where the booming play is driving a surge in hiring, housing starts, infrastructure projects and more.
‘Another Leg Down’ on Gas-Directed Activity Expected in 1Q Reports
Natural gas bulls already have seen the writing on the wall for exploration and production (E&P) companies’ earnings reports for 1Q2012. Minus those with gas hedging programs or an already solid turn to liquids and oil basins, it’s not going to be a pretty picture.
Quicksilver Cuts Spending, Forecasts Flat Production
Natural gas-weighted Quicksilver Resources Inc., which has seen its shares trading lately at less than one-third of their 52-week high, last week announced a capital budget and drilling plan intended to hold the fort while it transitions to oil/liquids and shops for joint venture (JV) partners in the Horn River Basin and in West Texas.
Quicksilver Halves Spending, Forecasts Flat Production
Natural gas-weighted Quicksilver Resources Inc., which has seen its shares trading lately at less than one-third of their 52-week high, Tuesday announced a capital budget and drilling plan intended to hold the fort while it transitions to oil/liquids and shops for joint venture (JV) partners in the Horn River Basin and in West Texas.
EIA Cuts Marcellus Shale Estimate, But Predicts Net U.S. Exports
The Department of Energy’s (DOE) Energy Information Administration (EIA) Monday cut its estimate of the U.S. shale gas resource base almost in half, based on a dramatic drop in Marcellus Shale estimates.
Unquenchable Thirst for Unconventional Resources Continues
Domestic upstream merger and acquisition (M&A) deals in 2011 set another record, fueled by unconventional oil and natural gas, a survey by PLS Inc. has found.
Gas Bubble II? Sub-$2 Futures A Possibility
February natural gas put in another low Thursday that had not been seen since Sept. 8, 2009 when October futures were as low as $2.628. The day’s price drivers included the release of storage data by the Energy Information Administration (EIA) that showed a 95 Bcf pull from inventories, well off the seasonal pace but greater than what the market was expecting.
East, West Coast Cash Points Score Gains
Cash quotes nationwide showed nearly double-digit gains on Thursday, but little strength was seen at Gulf Coast points. Western prices firmed based on strength at AECO and prices rose at eastern pipelines.
Pitt Study: One Marcellus Well Adds Millions to Economy
A single Marcellus Shale well in southwestern Pennsylvania directly adds $7.6 million to the economy, on average, according to a new study released Tuesday.
