Targeted

Residents of Fort Worth, TX, saw the sun rise on the shale gas phenomenon as producers targeted the Barnett Shale play far beneath their neighborhoods. Now — following years of midstream development, and a deadly pipeline blast in California — some in the state’s fifth largest city are calling for a reset on gas pipeline policy.

With hearings set to begin in June, Pacific Gas and Electric Co. (PG&E) is betting its short-term future on a $1.1 billion general rate case targeted to be effective at the start of next year with smaller interim revenue increases in 2012 ($275 million) and 2013 ($343 million). But the California Public Utilities Commission’s (CPUC) independent consumer unit, the Division of Ratepayer Advocates (DRA), has come out of the gate drawing its line in the sand at a revenue level less than 25% of what the utility asked for in its CPUC filing.

Range Resources Corp. made good on its 2008 goal to build its leasehold position in targeted onshore plays, and it increased its proved natural gas and oil reserves by 19% — to 2.7 Tcfe from 2.2 Tcfe.

Range Resources Corp. made good on its 2008 goal to build its leasehold position in targeted onshore plays, and it increased its proved natural gas and oil reserves by 19% — to 2.7 Tcfe from 2.2 Tcfe.

Domestic oil and natural gas drilling continued its surge in 2008, rising 19% in the fourth quarter and 15% for the year, with gas-targeted drilling accounting for slightly more than half of all activity, the American Petroleum Institute (API) said last Tuesday. But it warned that drilling activity is beginning to show signs of a slowdown.

Domestic oil and natural gas drilling continued its surge in 2008, rising 19% in the fourth quarter and 15% for the year, with gas-targeted drilling accounting for slightly more than half of all activity, the American Petroleum Institute (API) said Tuesday. But it warned that drilling activity is beginning to show signs of a slowdown.

The third and final leg of the $4 billion Rockies Express Pipeline, which has been targeted for in-service in January 2009, could be delayed for six months or more if the FERC schedule for environmental review of the project is not moved up, project sponsors told the Federal Energy Regulatory Commission (FERC).

The third and final leg of the $4 billion Rockies Express Pipeline, which has been targeted for in-service in January 2009, could be delayed by up to six months if the FERC schedule for environmental review of the project is not changed, project sponsors told FERC.

Targeted by both Republicans and Democrats following record-high earnings by North American producers, royalty relief provisions for deepwater oil and natural gas exploration were cut from the fiscal 2008 budget President Bush submitted to Congress last week.