Substantially

Calgary’s Talisman Energy Inc. has substantially increased its holdings in the Marcellus Shale in Pennsylvania and the Montney Shale in British Columbia and plans to increase its unconventional natural gas development programs across the continent in the coming year, the company said Tuesday.

BP plc’s 3Q2009 profits were down by more than a third from a year ago, but cost-cutting measures implemented two years ago by the oil major are paying dividends. Costs are projected to fall by $4 billion this year from 2008, which is $1 billion more than the producer forecast in June.

After nearly a year’s delay, California water quality officials last Tuesday released draft rules for substantially restricting the use of seawater cooling at electric generation plants, carrying potential adverse impacts on the numerous natural gas-fired power plants and two nuclear generating stations lining the state’s coast. The move has caused consternation in the state energy industry and among energy officials since coastal plants account for 40% of the state’s generating capacity.

The domestic natural gas rig count is down substantially from year-ago levels, but higher initial production (IP) rates in some of the prolific shale plays suggest rig efficiencies may have lifted output by 10%, which would partially offset expected supply declines, a review by Barclays Capital analysts has found.

The domestic natural gas rig count is down substantially from year-ago levels, but higher initial production (IP) rates in some of the prolific shale plays suggest rig efficiencies may have lifted output by 10%, which would partially offset expected supply declines, a review by Barclays Capital analysts has found.

With imports of liquefied natural gas (LNG) to the United States having slowed substantially, the economic meltdown resetting global gas demand to lower levels — at least for the time being — and development costs still high, one might wish to have their days of LNG investment behind them. Not so, said Chevron’s Patrick Blough, vice president of gas commercialization.

With imports of liquefied natural gas (LNG) to the United States having slowed substantially, the economic meltdown resetting global gas demand to lower levels — at least for the time being — and development costs still high, one might wish to have their days of LNG investment behind them. Not so, said Chevron’s Patrick Blough, vice president of gas commercialization.

A recovery for natural gas prices in 2009 is unlikely, but as the rig count declines, it should set up supply to drop substantially at the same time the economy begins to recover, which bodes well for a more bullish 2010, energy analysts said last week.

A recovery for natural gas prices in 2009 is unlikely, but as the rig count declines, it should set up supply to drop substantially at the same time the economy begins to recover, setting up a much more bullish 2010, Raymond James & Associates Inc. said Monday. The energy team predicted that gas prices could average $8/Mcf by 2010, well above its $5 forecast for this year.