Survey

Results from recent U.S. Geologic Survey (USGS) water quality testing in U.S. Environmental Protection Agency (EPA) monitoring wells in Pavillion, WY, “raise serious questions about the adequacy of EPA practices in drilling monitoring wells and testing water samples,” said Erik Milito, American Petroleum Institute (API) upstream director.

The North America oilfield services market “eroded more than we thought” in 3Q2012, but the spending decline could turn in January, said the research team at Tudor, Pickering, Holt & Co. (TPH).

Domestic proved oil and natural gas reserves achieved record annual volumetric increases in 2010, thanks in large part to advances in drilling technology, according to a report released by the Energy Information Administration (EIA) Wednesday.

The U.S. Geological Survey (USGS) estimates that five Mesozoic shale basins along the East Coast collectively hold a mean of nearly 3.9 Tcf in undiscovered natural gas and 135 million bbl of undiscovered natural gas liquids (NGLs), according to an abstract released last week.

The U.S. Geological Survey (USGS) said it estimates that five Mesozoic shale basins along the East Coast collectively hold a mean of nearly 3.9 Tcf in undiscovered natural gas and 135 million bbl of undiscovered natural gas liquids (NGLs), according to an abstract released Wednesday.

The U.S. Geological Survey (USGS) said it estimates that five Mesozoic shale basins along the East Coast collectively hold a mean of nearly 3.9 Tcf in undiscovered natural gas and 135 million bbl of undiscovered natural gas liquids (NGLs), according to an abstract released Wednesday.

With survey data indicating steady future growth, the use of natural gas as a transportation fuel is gaining momentum in a variety of fleet vehicle operations in four key areas — economics, manufacture of vehicles, fueling infrastructure and public policy support, according to Richard Kolodziej, president of Washington, DC-based NGVAmerica.

Vermont Gov. Peter Shumlin signed a bill that calls for a ban on hydraulic fracturing (fracking) on Wednesday, a largely symbolic gesture but one that makes the Green Mountain State the first in the nation to outlaw the practice.

The cash market overall on average tallied a four cent gain Thursday as the market piggy-backed off the screen’s nearly 12 cent advance Wednesday and points in the East were expected to see well above normal temperatures. Most cash points proved strong with the exception of a handful of spots in the Northeast. The Energy Information Administration (EIA) reported a build of 61 Bcf, a bit more than the market was expecting and futures eased. At the close of futures trading June had fallen 2.4 cents to $2.594 and July fell 1.4 cents to $2.673. June crude oil continued lower falling 25 cents to $92.56/bbl.