In recent months, the Arizona Geological Survey (AZGS) has examined shale oil and natural gas potential in southeastern and westerly parts of the state, in addition to the already exploratory drilled northern formations, particularly in the northeast Four Corners area in which the Mancos Shale is found.
Articles from Westerly
With exploration and production (E&P) activity heating up along the eastern border of Montana as an extension of the North Dakota oil and natural gas boom, state lawmakers in the Big Sky state have proposed about a half-dozen new laws to deal with the impact on the local communities in the region.
With Tropical Storm Alex expected to spare Gulf of Mexico production as it heads on a more westerly course, August natural gas futures — in their first regular session action as the front-month contract — continued to back off the recent highs on Tuesday as hurricane premium dissipated. The August contract reached a low of $4.525 before closing the regular session at $4.548, down 18.5 cents from Monday’s finish.
Natural gas traders on Tuesday breathed a small sigh of relief as the unpredictable Hurricane Ike changed paths to a more westerly course that should spare much of the Gulf of Mexico’s energy infrastructure. Despite the news, October natural gas futures settled almost unchanged at $7.535, due likely to the fact that it is still early and the storm’s path could very well change again.
Hurricane Dean’s westerly Gulf of Mexico-sparing course continued to beat the natural gas futures market lower for a second consecutive session as traders appeared ready to resume the downtrend that was interrupted two weeks ago by storm hype. The September contract put in a $5.770 low Tuesday before closing at $5.817, down 22.3 cents on the day.