Sends

Pennsylvania Shale Drilling Fees Drop on Low Natural Gas Prices

Low natural gas prices have hit Pennsylvania, where deep-shale drilling fees collected last year fell about 3% from 2011, according to state data.

April 5, 2013

Binghamton, NY, Fracking Moratorium Tossed by Judge

A New York judge on Tuesday invalidated the City of Binghamton’s two-year ban by on hydraulic fracturing (fracking) and exploration activities that was enacted late last year.

October 4, 2012

Industry Briefs

The total value of U.S. natural gas and oil and mergers and acquisitions (M&A) in the first three months of this year jumped 69% from a year ago and sends a signal that 2011 will be another strong year for transactions, according to a survey by PwC US. The Oil & Gas M&A analysis is a quarterly report of announced U.S. transactions valued at more than $50 million. PwC uses transaction data provided by John S. Herold Inc. Shale natural gas properties remain a big draw for buyers. According to PwC, eight transactions each valued at more than $50 million related to shale gas properties for a total value of $9.7 billion. Two transactions in the Marcellus Shale together totaled $325 million. Several big sales contributed to a 76% increase in overall average deal value from a year ago. Forty-seven transactions in the latest quarter were valued at more than $50 million each, accounting for a total of $51.5 billion in deal value, versus $30.4 billion in the year-ago period. The average size of a transaction also jumped significantly to $1.1 billion from $620.9 million year/year. Twenty-three individual transactions were valued at more than $250 million. Upstream transactions made up almost three-quarters (73%) of the sales valued at more than $50 million, with a total of 27 transactions fetching $25.3 billion.

May 23, 2011

President Makes Known His Wish List for Energy Bill

Any comprehensive energy legislation that Congress sends to the White House must meet “four important objectives,” including greater use of technology, increased domestic production, supply diversity and a more reliable transmission-pipeline system, President Bush said in his Saturday radio address to the nation.

April 19, 2005

Bearish Storage Injection Sends Futures Down, Closer to $5

While coming well within most of the industry’s estimates, the 84 Bcf natural gas storage injection for the week ended Aug. 20 announced Thursday was hugely bearish when compared to historical data. As a result, September futures, which expire Friday, dropped significantly from pre-storage release levels.

August 27, 2004

Bearish Storage Report Sends Futures Significantly Lower

After months of relatively neutral weekly gas storage reports, natural gas futures traders on Thursday got something they could sink their teeth into as the Energy Information Administration (EIA) reported that a bearish 109 Bcf was put into underground storage for the week ended July 2.

July 9, 2004

In Line With Projections, Storage Figure Sends Futures Zigzagging

Following the Energy Information Administration’s (EIA) announcement of a 28 Bcf build for the week ending April 16, the Nymex May natural gas futures contract immediately probed lower, reaching $5.55 just before 11 a.m. EDT, before rebounding higher to close the session at $5.623, up 4.1 cents on the day.

April 23, 2004

Cold Blast Sends Gas Demand to Record Levels in New England, Long Island

While several gas demand records were broken in the West last week, particularly in the Rockies and the Pacific Northwest, the severe cold over the weekend in the Northeast shattered records at KeySpan’s New England and Long Island utilities. The company also warned that it anticipates heavy demand in the last half of this week as weather forecasters are predicting another severe cold front to drop temperatures to sub-zero levels with high winds.

January 13, 2004

FERC Sends Kern River Back for More Tariff Clarifications

While coming closer this time to what the Federal Energy Regulatory Commission had in mind, Kern River Gas Transmission still must make further revisions to its request to reserve excess capacity for use in future expansions, according to a recent Commission order.

November 3, 2003

FERC Sends Kern River Back for More Tariff Clarifications

While coming closer this time to what the Federal Energy Regulatory Commission had in mind, Kern River Gas Transmission still must make further revisions to its request to reserve excess capacity for use in future expansions, according to a Commission order issued Friday.

October 27, 2003
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