Marcellus Shale development in Pennsylvania continued to remain level in February.
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New England Prices Up Again; Most Points Soft
Continued large gains at New England citygates went against the overall grain of flat to lower prices in nearly all of the rest of the market Thursday. An early taste of winter-like conditions was still hanging around from the Rockies through the Midwest and Northeast, but the cold was due to start fading going into the weekend even as a cold front was about to bring cool temperatures into the previously moderate South.
GHG Regulations Extend to Minor Pollution Sources in Gas Industry
As a result of the Environmental Protection Agency’s (EPA) Phase II Greenhouse Gas tailoring rule, which went into effect in July, minor sources of pollution — including gas processing plants, fractionating plants, compressor stations and other midstream energy assets — are now considered major source pollutants and thus are subject to more stringent regulation, said a partner with a major Washington, DC-based law firm.
Expert: Shale Gas May Doom New Brunswick Government
When voters in New Brunswick went to the polls last September, they were still fuming over the incumbent Liberal government’s failed attempt to sell the province’s public utility. Premier David Alward and the Progressive Conservative party were able to harness that dissatisfaction and won the 2010 election in a landslide.
Shale Gas Could Doom New Brunswick Government, Expert Warns
When voters in New Brunswick went to the polls last September, they were still fuming over the incumbent Liberal government’s failed attempt to sell the province’s public utility. Premier David Alward and the Progressive Conservative party were able to harness that dissatisfaction and won the 2010 election in a landslide.
Haynesville Drilling Doubles Louisiana’s Production
Drilling in the Haynesville Shale helped Louisiana more than double its natural gas production in April from two years ago, and production in the Lower 48 states increased 10.6% (6.66 Bcf/d) to 69.05 Bcf/d during the same time period, according to the Energy Information Administration’s (EIA) monthly natural gas report.
Futures Test Downside Following 138 Bcf Storage Draw
Near-month natural gas futures went in search of lower price levels Thursday morning following news from the Energy Information Administration (EIA) that 138 Bcf was withdrawn from natural gas storage for the week ending Jan. 7. The storage report, which was “bearish” compared to most industry expectations, combined with freshly updated weather forecasts for slightly less chilly temps later this month, pushed February futures on Thursday to a low of $4.382 and a close at $4.407, down 12.4 cents from Wednesday’s finish.
For Old-Timer, Barnett Shale Still Getting it Done
A Barnett Shale well operated by Chesapeake Energy Corp. produced on average 17.824 MMcf/d for the month of September, surpassing any of the 14,000-plus wells drilled to date in the North Texas play.
October Goes Quietly as Futures Remain Range-Bound
October natural gas futures went off the board on Tuesday with a whimper as the contract traded in a range of just more than a dime before expiring at $3.837, up 3.7 cents from Monday’s close. Taking over as the new front-month contract, November futures added 3.5 cents Tuesday to finish at $3.951.
September Expires at $3.651 After Reaching 11-Month Futures Low
The September natural gas futures contract went off the board with a bang on Friday as no change in the market’s weak fundamentals and a scramble to square books ahead of expiration resulted in a 16.6-cent, or 4.4%, decline to $3.651, which is 46.6 cents, or 11.3%, lower than the previous week’s close. Taking over the front-month contract title, October futures closed Friday at $3.705, down 13.8 cents, or 3.6%, from Thursday’s close and 43.2 cents, or 10.4%, lower than the previous week’s finish.