The U.S. oil rig count will continue to “drift slowly lower” in 2013 and 2014 in part because of technology and in part to balance the market, according to an updated analysis by Raymond James & Associates Inc.
Shifting
Articles from Shifting
Boardwalk: Power Load to Refill Pipes
Boardwalk Pipeline Partners LP has been feeling the impact of shifting market fundamentals as shrinking basis differentials make recontracting capacity on some of its pipelines more challenging. However, more demand from new power generators is waiting in the wings to take up the slack.
Encana Cuts Back on Low Natural Gas Prices
Encana Corp. is cutting back its capital expenditures (capex) and shifting more resources to oil and liquids, but the gassy Haynesville Shale remains on the development list, a top executive said Thursday.
Power Plants Seen Curing Boardwalk’s Basis Blues
Boardwalk Pipeline Partners LP has been feeling the impact of shifting market fundamentals as shrinking basis differentials make recontracting capacity on some of its pipelines more challenging. However, more demand from new power generators is waiting in the wings to take up the slack.
Consol Shifting Gears in Utica, From Exploration to Development
Consol Energy Inc. announced Friday that it would begin shifting its Utica Shale program in Noble County, OH, from exploration to development mode, after seeing encouraging results and data from its test wells and those of its competitors in the play.
Consol Shifts to Development Mode in Utica
Consol Energy Inc. announced Friday that it would begin shifting its Utica Shale program in Noble County, OH, from exploration to development mode, after seeing encouraging results and data from its test wells and those of its competitors in the play.
Energen Has New Focus: Oil, Gas Liquids, CEO Says
Birmingham, AL-based Energen Corp., an independent exploration and production (E&P) company with a small natural gas-only utility in Alabama, is shifting its emphasis away from gas to oil and natural gas liquids (NGL) production next year, CEO James McManus told a financial analysts’ meeting.
Seneca Resources Shifting Marcellus Rigs to Run on LNG
In a pair of deals announced Thursday, Seneca Resources Corp., the exploration and production unit of National Fuel Gas Co., laid out plans to continue shifting its Marcellus Shale drilling rigs from diesel fuel to liquefied natural gas (LNG).
Coal Production Digging Deeper Hole, Moody’s Outlook Says
Coal production will keep falling next year in the midst of reduced demand in an energy landscape that keeps shifting, according to an industry outlook report from Moody’s Investors Service released Monday. Coal-fired power generation could fall to a third of the U.S. mix as natural gas prices stay below historical levels.
Industry Briefs
Another sign of the shifting world energy market caused by the shale gas revolution is a $7 billion contract announced this week that directs the export of coal — no longer needed in the United States — to India from Kentucky and West Virginia. The 25-year agreement was lauded by Kentucky Gov. Steve Beshear, who called it “an example of a great new market for Kentucky resources.” Kentucky coal companies will export about 9 million tons of coal per year to India’s Abhijeet Group. The coal is being purchased from Kentucky-based affiliates of FJS Energy LLC. A supply glut of natural gas, much of it from shale, has driven gas prices lower than coal this year and intensified the environmental push toward coal-to-gas fuel switching for power generation (see Daily GPI, Aug. 16; Aug. 6). The 25-year contract is an indication that coal producers see stiff competition from natural gas continuing for their product in the United States.