Will ethane production from shale plays in Appalachia support all of the ethane projects proposed for the region?
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Groups Appeal BLM Decision on Mancos Drilling
Two environmental groups are asking the Interior Department’s Bureau of Land Management (BLM) to reconsider its decision to allow WPX Energy Inc. to drill unconventional natural gas wells into the Mancos Shale play in northwest New Mexico’s San Juan Basin.
Court Upholds Second New York Town’s Drilling Ban
A local ordinance that bans oil and gas operations in the Town of Middlefield, NY, has been upheld by the Otsego County Supreme Court, the second time in a week that a New York state judge has ruled in favor of such a law.
California Regulators Debate Gas Meter, Power Issues
Although they deferred action until next month, California regulators Thursday spent considerable time discussing the deployment of advanced natural gas utility metering systems and the fate of a gas-fired generation plant in Northern California that the state’s grid operator claims is essential to reliability. Advocates for the smart gas meters contend that they are essential for upgrades to pipeline system safety.
Earnings Briefs
Calgary-based Progress Energy Resources Corp. is shutting in 10% of its natural gas production, which is all in Canada, until prices cooperate. The company produced an estimated 224.6 MMcf/d in 3Q2011. “We believe the current low natural gas price is unsustainable,” said CEO Michael Culbert. “Shifting capital to preserve asset value and maintain our balance sheet strength is prudent in this environment.” The Montney Shale-focused producer also is reducing its gas development spending to C$365 million this year, a reduction of C$100 million from the original 2012 capital budget. Progress Energy is jointly developing around 900,000 net acres in the Montney Shale with Malaysia’s Petronas (Petroliam Nasional Berhad). An associated liquefied natural gas export plan also is being studied (see related story).
Calgary’s Progress Energy Curtails 10% of Gas Output
Calgary-based Progress Energy Resources Corp. said late Tuesday it is shutting in 10% of its natural gas production, which is all in Canada, until prices cooperate. The company produced an estimated 224.6 MMcf/d in 3Q2011.
WSI Expects Colder-Than-Normal Winter Across Northern U.S.
Winter weather has been relatively mild so far, but the nation’s northern tier can expect temperatures to average colder than normal until at least early spring, according to forecasters at Andover, MA-based Weather Services International (WSI). And in their first look at the 2012 Atlantic hurricane season, the forecasters said they expect expect 12 named storms, including seven hurricanes, three of them intense hurricanes (Category 3 or higher).
WSI Expects Colder-Than-Normal Winter Across Northern U.S.
December weather has been relatively mild so far, but the nation’s northern tier can expect temperatures to average colder than normal until at least early spring, according to forecasters at Andover, MA-based Weather Services International (WSI).
Opening of Manzanillo, Mexico LNG Terminal Delayed
Contrary to previous reports, the opening of a 1 Bcf/d liquefied natural gas (LNG) receiving terminal developed by a Korean-Japanese consortium has been delayed until early 2012, according to business news reports Friday south of the U.S. border. A variety of “setbacks” are being dealt with, an ICIS Heren report indicated.
TransCanada Asks Regulator to Freeze Tolls
TransCanada Corp. is seeking to freeze tolls on its natural gas Mainline at current levels until its grand design for reducing the troubled system’s charges — the proposed “business and services restructuring” — can be put into practice.