The big, sustained rally in 2010 U.S. natural gas prices predicted by some on Wall Street likely will fizzle as soon as the uncompleted wells and shut-in supply flood back into the market, energy analysts said Monday.
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Transportation Note
Williams Partners LP announced that the Ignacio gas processing plant had been repaired and returned to service Friday after being shut down due to a pipeline rupture on June 3.
Shale Plays Could be Crippled by Hydrofrac Restrictions, Industry Asserts
Excessive federal regulation, including restrictions on hydraulic fracturing, could shut down production from the country’s prolific shale plays, according to testimony heard Thursday by the House Subcommittee on Energy and Mineral Resources in Washington, DC.
Panel: Hydrofrac Restrictions Could Cripple Shale Plays
Excessive federal regulation, including restrictions on hydraulic fracturing, could shut down production from the country’s prolific shale plays, according to testimony heard Thursday by the House Subcommittee on Energy and Mineral Resources in Washington, DC.
Transportation Notes
Southern Natural Gas said its shut-in test of the Muldon (MS) Storage Field from Tuesday through April 20 constitutes a force majeure event and it will reduce CSS customers’ injection and withdrawal quotas on a pro rata basis during the test. See the bulletin board for details.
‘Incident’ Shuts in Sable Island Production
Gas production at the Sable Offshore Energy Project off the coast of Nova Scotia was shut in early Tuesday morning due to an “operational incident,” a spokesman for ExxonMobil, operator of the field, told NGI.
Transportation Notes
Nautilus Pipeline shut in its system at Ship Shoal 207 and declared force majeure Sunday after discovering a leak. The pipeline said its initial investigation indicated that an anchor dragged across the system caused the damage. As of Sunday Nautilus nominations needed to be redirected to other available markets until further notice, a bulletin board posting said.
Rockies Producers Ultra, Double Eagle Quarterly Gas Output Soars
Despite having to shut in 3 Bcf in 3Q2008, Ultra Petroleum Corp. saw its natural gas and oil output from continuing operations up 35% and profit jumping 227% from the same period a year ago. Double Eagle Petroleum Corp., which like Ultra operates in the Rocky Mountains, also hit on all cylinders during the quarter, with its gas output up 149% from 3Q2007.
Rockies Producers Ultra, Double Eagle Quarterly Gas Output Soars
Despite having to shut in 3 Bcf in 3Q2008, Ultra Petroleum Corp. saw its natural gas and oil output from continuing operations up 35% and profit jumping 227% from the same period a year ago. Double Eagle Petroleum Corp., which like Ultra operates in the Rocky Mountains, also hit on all cylinders during the quarter, with its gas output up 149% from 3Q2007.
Transportation Notes
Southern California Gas (SoCalGas) did not extend a high-linepack OFO beyond Tuesday. An initial assessment of the Aliso Canyon storage facility, which was shut down Monday due to a wildfire threat (see Daily GPI, Oct. 14a), indicates no damage to any major structures, SoCalGas said, adding, “It is not known, at this time, when the facility will be back in service.”