Sources

Government and industry sources have grossly overstated future natural gas supplies in the United States, basing their estimates on unrealistic growth in supplies from shale gas plays, according to a report released Thursday by the San Francisco-based Post Carbon Institute, a nonprofit organization that promotes sustainability.

Hydraulic fracturing (fracking) has been around for decades with little or no environmental problems, and it is a key to the nation’s energy independence through stepped up use of plentiful natural gas supplies in transportation, oilman-turned-clean transportation advocate T. Boone Pickens told a National Press Club luncheon Tuesday in which he tackled a wide-ranging set of energy, environmental and political issues with fellow billionaire and CNN founder Ted Turner.

The transition to spring may have officially occurred Sunday, and sources indicated that many people were enjoying the appropriate weather. But there seems to be some trouble getting Old Man Winter off the seasonal stage, as a significant winter storm bearing snow starts moving westward from the Plains into the Midwest as early as Tuesday. From there colder conditions will continue spreading through the Northeast and eventually the South.

Water samples taken from seven Pennsylvania rivers showed levels of radioactivity at or below “background levels,” according to the Pennsylvania Department of Environmental Protection (DEP).

A liquids-focused unconventional oil and gas makeover at Houston-based Rosetta Resources Inc. is showing the company in a much improved light as it continues to ramp up its activities in the Eagle Ford Shale of South Texas, CEO Randy Limbacher told financial analysts Monday.

Last year Range Resources Corp. grew proved reserves 42% to 4.4 Tcfe and replaced 931% of its production for the year, the company said Tuesday.

Philadelphia officials on Tuesday directed the city-owned natural gas utility not to buy Marcellus Shale gas until more is known about the safety of hydraulic fracturing (hydrofracking).

With a growing diversity of sources, robust supplies and recession-tempered demand, Southwest Gas Corp. is in a strong position to serve its 1.8 million customers spread around Nevada, Arizona and a sliver of the eastern part of Southern California. The only question plaguing Bill Moody, Southwest’s vice president for gas resources, is how long can the good life last?

Moderate to cool conditions were still dominating the overall forecasts, and as a couple of sources had pointed out, Thursday’s 24.8-cent screen plunge “practically guaranteed” lower prices Friday. They were correct as quotes fell across the board from about C5 cents to 30 cents or so; all drops were in double digits except for those at Empress and NOVA Inventory Transfer in Western Canada.