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EIA Joins Analysts With Higher 2013 Price Forecast

The Energy Information Administration (EIA) joined a growing list of analysts raising 2013 natural gas price forecasts, saying in a Short-Term Energy Outlook (STEO) released Tuesday that it expects spot prices, which averaged $2.75/MMBtu at the Henry Hub last year, to climb to an average of $3.52 this year and $3.60 in 2014.

April 10, 2013
Well Freeze-Offs Muddling NatGas Production Data, Says Barclays

Well Freeze-Offs Muddling NatGas Production Data, Says Barclays

Determining whether Lower 48 state natural gas onshore production is falling is proving to be a difficult task because of the variable winter, but the aggregate amount of production curtailments from well freeze-offs “point to peak supply losses of as much as 1.8 Bcf/d,” according to Barclays Capital.

April 4, 2013
Western Canada’s Unconventionals Seen Doubling Oil Output by 2025

Western Canada’s Unconventionals Seen Doubling Oil Output by 2025

Western Canada’s oil production should hit 5.7 million b/d by 2025, which is double the current output, boosted by unconventional growth from the oilsands and shale formations, according to ITG Investment Research (IR). Unconventional natural gas production also is seen lifting gas supplies by 3 Bcf/d from current numbers.

March 28, 2013
Canadian Natural Looking to Sell, JV Montney Acreage

Canadian Natural Looking to Sell, JV Montney Acreage

Canadian Natural Resources — Canada’s second-largest independent natural gas producer and its largest producer of heavy oils — is considering the sale of about 250,000 net acres of its Montney land base, about one-quarter of its total Montney acreage, President Steve Laut said Thursday during an earnings conference call.

March 11, 2013

Use Science, ‘Not Supposition’ for Rules: ConocoPhillips Chief

ConocoPhillips CEO Ryan Lance on Tuesday called on his colleagues to make the case for “smart” regulations and government collaboration to ensure the shale revolution is not suppressed by uninformed critics.

March 6, 2013

Industry Brief

KW Express LLC a partnership of Kinder Morgan Energy Partners LP (KMP) and Watco Companies LLC, has entered into a long-term agreement with Mercuria Energy Trading Co. Inc. to construct a 210,000 b/d crude-by-rail project at the Greens Port Industrial Park on the Houston Ship Channel. The project will allow Mercuria Energy Trading Inc. to source crude from various locations, including Cushing, OK, West Texas, the Bakken Shale area and Western Canada for delivery by rail into the Houston Ship Channel for distribution to various refiners via pipeline and barges. The facility will have the capability to unload and load up to three unit trains per day of crude oil and condensate as well as provide for up to 100,000 b/d of barge loading capacity. KW Express will own 85% of the project and, together with Watco, operate the project once completed. Mercuria will own the remaining 15% interes

February 26, 2013

Chu Leaving DOE to Return to Academic Life

Confirming rumors that have been circulating for months, Energy Secretary Steven Chu Friday said he will not serve a second term in the Obama administration.

February 4, 2013

North Dakota in Freeze as Production Declines

A deep freeze named Brutus hammered North Dakota with a pre-winter force in November, knocking down oil and gas production from all-time record levels the previous month, according to the latest statistics from the state Department of Mineral Resources (DMR).

January 14, 2013

Glacial Gas Pipe Bill Clears House, Poised for Senate Action

The bill (H.R. 4606), which cleared the House by 286-10, was sponsored by Rep. Denny Rehberg (R-MT), whose term expires at the end of the year, and was supported by Montana Democratic Sens. Max Baucus and Jon Tester. It allows maintenance work on a 3 1/2-mile section of pipeline, which was built in the 1950s, that runs through Glacier National Park lands. It is part of an 118-mile pipeline system that serves about 25,000 people and runs parallel to U.S. Highway 2 along Glacier’s southern boundary.

December 20, 2012

Time is Ripe for Mexico to Emerge, Open to Competition, Economist Says

With a new president taking the reins of power for a six-year term and the rest of North America undergoing an energy transformation, the time is right for Mexico to use its deep energy resources to become a fully developed nation over the next two decades, a Mexico City economic consultant and former federal official told a Manhattan Institute forum on Monday.

December 5, 2012