Surprising

The domestic oil and natural gas development boom tied to the run on shale targets has led to some surprising results in the U.S. Census Bureau population estimates released on Thursday. According to the government agency, “numerous metropolitan statistical areas, micropolitan statistical areas and counties that were among the fastest-growing last year were located in, or at least near, the Great Plains and West Texas.”

The domestic oil and natural gas development boom tied to the run on shale targets has led to some surprising results in the U.S. Census Bureau population estimates released on Thursday. According to the government agency, “numerous metropolitan statistical areas, micropolitan statistical areas and counties that were among the fastest-growing last year were located in, or at least near, the Great Plains and West Texas.”

The price for Utica Shale acreage is rising at a surprising clip if a lease agreement signed this week by the Board of Commissioners of Columbiana County, OH, and an agent for Chesapeake Energy Corp. is any indication.

“The more people think things are going to stay the same, the more surprising it will be when they change,” might be an apt revision of an old proverb for today’s shale gas industry.

“The more people think things are going to stay the same, the more surprising it will be when they change,” might be an apt revision of an old proverb for today’s shale gas industry.

In a surprising move Monday, Senate Republicans called Democrats’ bluff, voting to proceed with debate on a Democratic bill to repeal billions of dollars of oil and natural gas tax breaks for the major producers.

It was not surprising that prices continued to drop at nearly all points Friday. Generally moderate weather almost everywhere, a 10.4-cent dip by June futures a day earlier and the usual weekend loss of industrial load were all bearish influences on Friday’s cash market.

In a surprising shift in policy, President Obama announced that his administration plans to open previously closed areas in Alaska, off the Atlantic Coast and in new areas of the Gulf of Mexico (GOM) to oil and natural gas drilling, at the same time extending some current leases. The Senate, however, law week shot down a proposal to open up more of the offshore to oil and gas drilling. It also voted against repeal of oil and gas taxes for the five biggest producers.

In a surprising shift in policy, President Obama announced over the weekend that his administration plans to open previously closed areas in Alaska, off the Atlantic Coast and in new areas of the Gulf of Mexico (GOM) to oil and natural gas drilling, at the same time extending some current leases. Obama said he nevertheless supports a Senate bill to cut billions of dollars of subsidies for producers.