Following an unsuccessful open season, Kinder Morgan Energy Partners LP (KMP) has shelved plans for the Freedom Pipeline, which would have carried Permian Basin crude oil from Texas to California refineries.
Talking
Articles from Talking
Industry Briefs
America’s Natural Gas Alliance (ANGA) is launching a nationwide advertising campaign designed to get people thinking and talking about their energy choices, and to see natural gas as a “foundational fuel.” The ad campaign will be “very visible,” with television and online components, as well as personal outreach through ANGA customer groups, said spokesman Dan Whitten. It would be the first major public outreach since Martin J. Durbin was named president and CEO (see NGI, April 1). Durbin had been executive vice president of government affairs at the American Petroleum Institute, where he led advocacy efforts on behalf of the oil and gas industry. Former president and CEO Regina Hopper resigned in February under pressure from the board (see NGI, Feb. 11).
ANGA Looking for Energy Conversation
America’s Natural Gas Alliance (ANGA) plans to begin a nationwide advertising campaign Monday designed to get people thinking and talking about their energy choices, and to see natural gas as a “foundational fuel.”
Industry Briefs
Another sign of the shifting world energy market caused by the shale gas revolution is a $7 billion contract announced this week that directs the export of coal — no longer needed in the United States — to India from Kentucky and West Virginia. The 25-year agreement was lauded by Kentucky Gov. Steve Beshear, who called it “an example of a great new market for Kentucky resources.” Kentucky coal companies will export about 9 million tons of coal per year to India’s Abhijeet Group. The coal is being purchased from Kentucky-based affiliates of FJS Energy LLC. A supply glut of natural gas, much of it from shale, has driven gas prices lower than coal this year and intensified the environmental push toward coal-to-gas fuel switching for power generation (see Daily GPI, Aug. 16; Aug. 6). The 25-year contract is an indication that coal producers see stiff competition from natural gas continuing for their product in the United States.
Quicksilver in Hunt for Horn River Upstream Partner
After securing a natural gas midstream partnership in the Horn River Basin with Kohlberg Kravis Roberts & Co. (KKR), Quicksilver Resources Inc. now is pursuing a partnership to develop its upstream leasehold, executives said Thursday.
California Fracking Bill Clears First Senate Hurdle
A bill aimed at chemical disclosure in hydraulic fracturing (fracking) passed its first hurdle Tuesday in the California Senate, passing out of the Natural Resources and Water Committee with opposing industry groups and lawmakers all indicating that a compromise that should facilitate the measure’s continuing legislative journey is close at hand (see Shale Daily, June 14). AB 591 next goes to the Senate Environmental Quality (EQ) Committee.
Marcellus Coalition Looking Forward to Corbett Administration
The administration of Pennsylvania Gov.-elect Tom Corbett, who is scheduled to be inaugurated in Harrisburg Jan. 18, should be a breath of fresh air for the natural gas industry, which saw outgoing Gov. Ed Rendell’s administration put state forest land off limits to drillers and push for a significant severance tax of 5% on drilling, according to Marcellus Shale Coalition President Kathryn Klaber.
Futures Break Below $5 on ‘Overwhelming’ Amount of Gas
Proving that it is unwise to say “never” when talking about commodity market price levels, traders were reminded of the valuable lesson Wednesday as February natural gas futures continued recording new lows and broke below $5 — a number that some traders and analysts thought would “never” be broken on this bear move. The prompt-month contract ended up putting in a $4.940 low before closing the regular session at $4.970, down 21.4 cents from Tuesday’s finish.
Enterprise Products Partners Sees 2009 Opportunities
While some in the energy business are talking pullback, Enterprise Products Partners (EPP) is looking toward 2009 as potentially offering opportunities for acquisitions with realistic price tags, as rivals struggle with the impact of fallen credit and equity markets, and expected multiples drop.
Enterprise Products Partners Sees 2009 Opportunities
While some in the energy business are talking pullback, Enterprise Products Partners (EPP) is looking toward 2009 as potentially offering opportunities for acquisitions with realistic price tags, as rivals struggle with the impact of fallen credit and equity markets, and expected multiples drop.