Studies

A researcher with the Center for Strategic and International Studies (CSIS) cautioned the U.S. Secretary of Energy Advisory Board’s (SEAB) Natural Gas Subcommittee that regulation and enforcement of shale gas was of paramount importance if the industry’s full potential is to become a reality.

Board members of the Fort Worth Independent School District (FWISD) are mulling a report they received Tuesday that recommends significant policy changes for gas drilling near schools and are expected to discuss the items early next month. However, the executive director of the Barnett Shale Energy Education Council (BSEEC) told NGI’s Shale Daily the document they are holding is essentially “a hoax.”

Although state and utility officials are contending that past scientific studies support their use, advanced or smart electricity and natural gas meters have drawn a number of protests from consumers in Northern California who allege there are public health risks from advanced metering devices that use radio frequencies to communicate with a network.

A federal judge has revised a decision prohibiting producers from conducting seismic studies offshore Alaska in the Chukchi Sea, clearing the way for U.S. affiliates of Royal Dutch Shell and Statoil ASA to move forward on long-planned tests.

Harold J. “Bill” Haynes, former chairman and CEO of Chevron Corp.’s predecessor company Standard Oil Company of California, died Wednesday. He was 83. Haynes interrupted his college studies to join the U.S. Navy during World War II. He then graduated from Texas A&M University and began a 34-year career with Standard Oil. He was named president in 1969 and chairman and CEO in 1974. Haynes retired in 1981. He also spent 28 years as a consultant and adviser to the Bechtel companies, the Bechtel family and Fremont Group, a private investment company. “Bill drove tremendous growth in the company and solidified its preeminent position in the industry by the time of his retirement,” said Chevron CEO Dave O’Reilly. “He left an indelible mark on our company, and our industry, by encouraging open dialogue and challenging conventional thinking. He ushered in a new era of communication between the industry, public and news media on energy issues that was truly trend-setting. I speak for our board of directors and employees in saying we are deeply saddened by his passing.”

September natural gas futures managed to stage a modest advance as traders cited technical studies showing the likelihood of a near-term advance, and traders sensed a market well bid at lower levels. September natural gas rose 4.7 cents to $8.773 and October futures added 3.5 cents to $8.855. September crude oil slipped 59 cents to $118.58/bbl.

A proposed liquefied natural gas (LNG) receiving terminal near the mouth of the Columbia River in Oregon has completed navigation and docking simulation studies for three different sized tankers, Oregon LNG said Monday. The simulations were done by the Pacific Marine Institute in Seattle, and Oregon LNG said they demonstrate the company’s proposed site can accommodate all three tanker sizes.

Following completion of its feasibility studies, Crosstex Energy LP said it will proceed with construction of its North Texas Pipeline project to bring natural gas out of the Barnett Shale and into markets in the Midwest and East. The project was first announced last December (see Daily GPI, Dec. 14, 2004).

After a complete pullback following the energy merchant sector meltdown of two years ago, the power industry’s dramatic earnings and valuation swings in recent years have led many companies to again reset their priorities, according to a study released Thursday at Cambridge Energy Research Associates’ CERAWeek 2004 in Houston.