Gas-weighted Rockies producers such as Bill Barrett Corp., Questar Corp., Ultra Petroleum and The Williams Companies face margin compression in the near term while they wait for the next increments of the Rockies Express pipeline to come online at the beginning of 2008 and mid-2009, according to Raymond James & Associates Inc.
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Basis Doldrums Could Hit Share Prices of Rockies Producers
Gas-weighted Rockies producers such as Bill Barrett Corp., Questar Corp., Ultra Petroleum and The Williams Companies face margin compression in the near term while they wait for the next increments of the Rockies Express pipeline to come online at the beginning of 2008 and mid-2009, according to Raymond James & Associates Inc.
Independence Project a Blueprint for Future Deepwater Exploration
The Independence Project in the ultra-deepwater Gulf of Mexico (GOM), only a vision three years ago, is eight months away from piping up to 1 Bcf/d of natural gas to U.S. markets. The record-setting collaboration by a midstream operator, four independent producers and an offshore production contractor could serve as a blueprint for other deepwater endeavors in the future.
Independence Project A Blueprint for Future Deepwater Exploration
The Independence Project in the ultra-deepwater of the Gulf of Mexico (GOM), only a vision three years ago, is eight months away from piping up to 1 Bcf/d of natural gas to U.S. markets. The record-setting collaboration by a midstream operator, four independents and an offshore production contractor offers a blueprint for other deepwater endeavors in the future.
Producers Request Year-Round Drilling Access in Pinedale Anticline
The Bureau of Land Management (BLM) is considering a proposal by several producers, including Anschultz, Shell Oil Co. and Ultra Petroleum Corp., to allow year-round drilling access in the Pinedale Anticline natural gas field of Wyoming. The 15- to 18-year operational proposal is focused on about 197,000 acres of mixed federal, state and private land south of Pinedale.
Industry Briefs
FuelCell Energy Inc. (FCE) was selected by the U.S. Departmentof Energy for a $3.125 million program to support the design of anultra-high efficiency, fuel cell/turbine hybrid power plant basedon the company’s Direct FuelCell (DFC). The system would combinethe FCE’s non-pressurized Direct FuelCell with a non-combustionturbine. The program includes development of a high-utilizationfuel cell and key system components, a sub-scale test of aDFC/turbine hybrid system and the conceptual design of a 40 MWpower plant.
Study Forecasts a Larger, More Diversified Demand Scenario
In a new study forecasting gas supply and demand over the next15 years, GRI said demand will reach 32.7 Tcf by 2015, but theindustry will have to adapt to changing consumption patterns inorder to take advantage. The results of the report, titled “GRIBaseline Projection of U.S. Energy Supply and Demand to 2015, 2000Edition,” were released last week at the National Press Club.
Super Drillship Begins Service in Gulf
Conoco and R&B Falcon Corp.’s Deepwater Pathfinderultra-deep-water drillship began a five-year work program in theGulf of Mexico. The ship, which is the first new vessel capable ofdrilling in 10,000 feet of water, will fulfill a $400 milliondrilling program for Conoco. The ship is expected to drill up tofour wells in its first year of operation, with the firstexploratory well being drilled at Garden Banks Block 783. Conocohas interests in 295 deep-water leases.