Setback

Despite the threat of legal action from Gov. John Hickenlooper, the city council of Fort Collins, CO, has adopted a resolution banning hydraulic fracturing (fracking) within city limits.

In a stunning setback for shale development in the Empire State, the New York State Assembly voted 95-40 on Wednesday to enact a two-year moratorium on high-volume hydraulic fracturing (HVHF). The bill, A5424, now moves to the state Senate.

In a stunning setback for shale development in the Empire State, the New York State Assembly voted 95-40 on Wednesday to enact a two-year moratorium on high-volume hydraulic fracturing (HVHF). The bill, A5424, now moves to the state Senate.

Colorado Gov. John Hickenlooper responded Thursday to criticism from local elected officials in his state who are upset over his government taking the city of Longmont, CO, to court over its oil and natural gas drilling rules. Legal action was what Hickenlooper called a “last resort” in a letter he sent to various local officials considering similar local drilling rules.

The Colorado Oil and Gas Conservation Commission (COGCC) is considering three new setback zones for drilling based on the distance from a wellhead or production facility to the nearest occupied building.

In a setback for oil and natural gas producers, the Securities and Exchange Commission (SEC) last week narrowly voted out rules that would force U.S. producers to disclose commercially sensitive information that could put them at a major disadvantage with foreign -owned energy companies.

In a setback for oil and natural gas producers, the Securities and Exchange Commission (SEC) Wednesday narrowly voted out rules that would force U.S. producers to disclose commercially sensitive information that could put them at a major disadvantage with foreign -owned energy companies.

Pennsylvania Gov. Tom Corbett is getting a lukewarm reception for his proposed changes to state shale policy, which largely mimic the recommendations his Marcellus Shale Advisory Commission made three months ago (see Shale Daily, Oct. 4).

Natural gas futures remained an uncharacteristic beacon of stability and suffered only a modest setback as other markets cascaded lower in volatile trading. At the close September natural gas had retreated 0.6 cent to $3.935 and October gave up just 0.5 cent to $3.957. November through June 2012 posted modest gains. By contrast the Dow Jones Industrial Average fell 635 points to 10,810 and September crude oil tumbled $5.57 to $81.31/bbl. Gold rose $70 to $1,722/oz, a record, and the yield on 10-year treasuries zoomed 20 basis points to 2.37%, the highest one-day move since May 2009.