Shot

Coming out of its coldest April and wettest May ever recorded, North Dakota’s latest oil and natural gas statistics show the amounts of oil transported by rail shot up to 75% in April while new wells connected set a record at 185. Overall, April oil/gas production was down compared to March, but the daily averages set all-time records on a preliminary basis (793,249 b/d and 846 MMcf/d).

Natural gas prices have been due for a shot in the arm, and they’re going to get one, actually more than one. But producers will have to wait until the impact of drilling declines is felt, lifting gas to $4.00/MMBtu, and then until power generation load growth gains traction and lifts prices to $5.00/MMBtu after 2015, according to consultant ICF International.

Gas prices have been due for a shot in the arm, and they’re going to get one, actually more than one. But producers will have to wait until the impact of drilling declines is felt, lifting gas to $4.00/MMBtu, and then until power generation load growth gains traction and lifts prices to $5.00/MMBtu after 2015, according to consultant ICF International.

FERC on Friday gave Tennessee Gas Pipeline Co. LLC (TGP) the go-ahead on rehearing to construct and place into service by Nov. 1 its Northeast Upgrade Project. In doing so it shot down a now-familiar argument from the Sierra Club about infrastructure to serve shale gas production, and it saved TGP from having to get Congressional permission for a river crossing.

FERC on Friday gave Tennessee Gas Pipeline Co. LLC (TGP) the go-ahead on rehearing to construct and place into service by Nov. 1 its Northeast Upgrade Project. In doing so it shot down a now-familiar argument from the Sierra Club about infrastructure to serve shale gas production, and it saved TGP from having to get Congressional permission for a river crossing.

Cash prices shot higher Tuesday with an average overall change of nearly 30 cents. Particularly strong were Northeast points, which fell under a triple whammy of pipeline maintenance, forecasts of hot temperatures and unexpected nuclear outages. Eastern locations also joined in the rise with hot temperatures expected Wednesday in major metropolitan areas.

After a chemical disclosure bill was shot down last year, critics of hydraulic fracturing (fracking) in California are attempting to rekindle a fire in Sacramento to heat up both regulators and legislators, according to a report in Thursday’s Los Angeles Times. Focused on ways to create jobs, Gov. Jerry Brown’s administration has shied away from the issue, fearing it could stymie growth in the energy sector.

At least one knowledgeable handicapper in the liquefied natural gas (LNG) export race in the United States thinks one upcoming long shot, the Jordan Cove LNG Project along the south-central Oregon coast, may prove to be a big winner.

Prices shot higher by double-digit amounts nearly across the board Thursday as a palpable threat to Gulf of Mexico (GOM) production grew more intense, cash numbers had substantial support from the previous day’s 14.5-cent futures rise, and some regions such as the Midwest were heating up, although their contribution to cooling load was likely to be brief.