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Local Officials Blast Colorado Governor’s Lawsuit

Local government officials from around Colorado took a swipe at Gov. John Hickenlooper for suing the city of Longmont, CO, to turn back its ordinance establishing natural gas and oil drilling regulations within its boundaries. The state maintains exclusive jurisdiction in this area under the Colorado Oil and Gas Conservation Commission (COGCC).

September 24, 2012

French President to Extend Sarkozy-Era Fracking Ban

Efforts to replicate in Europe the United States’ shale gas success took another blow Friday when French President Francois Hollande said that a ban on hydraulic fracturing (fracking) would remain in place during his five-year term. Hollande, the candidate of the Socialist party, became president following a two-round election earlier this year.

September 18, 2012

Canadian Gas Export Revenues Tumble 48% in 1H2012

Canadian natural gas dealers took a cold financial bath in the first half of this year, when downpours of falling sales volumes and prices cut their export revenues by 48%. Pipeline deliveries from Canada into the United States dropped 8% to 1.5 Tcf in the first half of 2012 (IH2012), down from 1.64 Tcf in the same period of 2011, according to trade records kept by the National Energy Board (NEB).

August 27, 2012

Canadian Gas Export Revenues Tumbled 48% in 1H2012

Canadian natural gas dealers took a cold financial bath in the first half of this year, when downpours of falling sales volumes and prices cut their export revenues by 48%.

August 20, 2012

Cash Quiet While Futures Swing Back And Forth

A vast majority of natural gas cash points took their cue from Tuesday’s 10.5-cent increase in September futures to post gains — albeit small — on Wednesday for Thursday delivery. However, if they continue to follow that model, declines could be in store on Thursday as the prompt-month futures contract on Wednesday gave nearly all of the prior-day’s gains away.

August 16, 2012

New Director Takes Helm at COGCC

Former Colorado Assistant Attorney General Matthew Lepore on Monday took the reins as director of the Colorado Oil and Gas Conservation Commission (COGCC).

August 14, 2012

U.S. Shale Patch Blows Cold on Australia’s BHP

Australia’s BHP Billiton Ltd. took a $2.84 billion pre-tax charge against the value of dry gas assets in the Fayetteville Shale that it acquired just last year due to weak natural gas prices and oversupply. Further, the company’s once-touted Petrohawk Energy Corp., also bought last year, so far this year has been a loss-maker.

August 13, 2012

Gas Prices a Second Quarter Spoiler at Southwestern

Houston-based Fayetteville Shale pioneer Southwestern Energy Co. took a hit last quarter from low natural gas prices in the form of a large ceiling test impairment and lower operating income.

August 6, 2012

Comstock and KKR in Eagle Ford JV

Comstock Resources Inc.’s second quarter results took a beating from “extraordinarily low natural gas prices,” but the company continues to shift to oil in a big way and just sealed a joint venture (JV) for its “growth engine” Eagle Ford Shale acreage. Comstock expects good things to come from the Permian Basin and plans to hold on to its Haynesville-Bossier Shale acreage in anticipation of better days for dry gas.

August 6, 2012

Southwestern Takes 2Q Hit from Low Gas Prices

Houston-based Fayetteville Shale pioneer Southwestern Energy Co. took a hit last quarter from low natural gas prices in the form of a large ceiling test impairment and lower operating income.

August 6, 2012