Slowing

Lower prices don’t appear to be slowing drilling for Range Resources Corp., which reported a 13% production increase in the third quarter just ended compared to a year ago, with plans to double production in its prime Marcellus Shale property from 90-100 MMcf/d by the end of this year to close to 200 MMcf/d by the end of 2010. It expects company-wide production in the fourth quarter 2009 to be about 455-460 MMcf/d.

Lower prices don’t appear to be slowing drilling for Range Resources Corp., which reported a 13% production increase in the third quarter just ended compared to a year ago, with plans to double production in its prime Marcellus Shale property from 90-100 MMcf/d by the end of this year to close to 200 MMcf/d by the end of 2010. It expects company-wide production in the fourth quarter 2009 to be about 455-460 MMcf/d.

Costs of new Canadian natural gas wells are dropping and the improved efficiency is slowing down deterioration of supply activity, a field contractor group says.

The Obama administration Tuesday delivered its second blow to domestic oil and natural gas producers in less than a week — this time considerably slowing the process for review of the new five-year offshore leasing plan (2010-2015) that was issued in the final days of the Bush administration.

Slowing demand and an existing surfeit of supply pipelines haven’t caused a number of major natural gas infrastructure projects in the West to pause or even slow down in their development, a panel of project backers told the LDC Forum Rockies & West Conference Tuesday in Irvine, CA. If anything, some of the proponents said they may have new capacity in place ahead of schedule.

With long-time nation-leading customer growth rates slowing, Portland, OR-based Northwest Natural Gas is eyeing a wider, regional role with two infrastructure projects that will enhance natural gas pipeline and storage infrastructure on the West Coast. Those plans are proceeding as envisioned, according to Northwest’s CEO Mark Dodson. Northwest on Thursday announced increased earnings in 2007 of 17% and 21% for net income and earnings-per-share, respectively ($74.5 million, or $2.78/share).

Liquefied natural gas (LNG) demand and production may be slowing as a result of price and project cost increases, according to a recent study prepared for Repsol Energy North America (RENA) by Jensen Associates. Supply and demand trends suggest a currently tight market will loosen, creating opportunities for long-range contracting as well acting as a counter to further price increases.

Liquefied natural gas (LNG) demand and production may be slowing as a result of price and project cost increases, according to a recent study prepared for Repsol Energy North America (RENA) by Jensen Associates. Supply and demand trends suggest a currently tight market will loosen, creating opportunities for long-range contracting as well acting as a counter to further price increases.

Colorado’s natural gas drilling shows no signs of slowing down, and because of that, the executive director of the Colorado Department of Natural Resources (DNR) said “nothing could be more critical” than keeping a dialogue with industry open and transparent.