Nabors Industries Inc., the largest onshore drilling fleet operator and the biggest supplier of pressure pumping equipment, is not optimistic about seeing gains in the U.S. oil or gas patch through the rest of this year, CEO Tony Petrello said Wednesday.
Articles from Whole
The opening of the Mariner West I ethane pipeline and new processing plants should provide some relief to current wet gas constraints in the Marcellus and Utica shales, and the plays should be largely de-bottlenecked by the end of next year, according to analysts at Barclays.
With domestic natural gas production reaching an “unprecedented” level, net imports of gas into the United States in 2012 fell 23% while total gas exports increased about 8%, according to the U.S. Energy Information Administration (EIA).
Sabal Trail Transmission LLC, a joint venture of Spectra Energy and NextEra Energy Inc., has been named the winning bidder to build a 465-mile interstate natural gas pipeline project by Florida Power & Light (FPL) to provide transportation services for its power generations needs beginning in May 2017. FPL, the largest power company in the state, put out the request for proposals for a new pipeline in December. Sabal Trail would have an estimated price tag of $3 billion and originate in Tallapoosa County, AL, extend through Georgia and terminate at the Central Florida Hub near Orlando (see NGI, July 8). Through a capacity lease with Transcontinental Gas Pipe Line (Transco), natural gas supply would be accessed at Transco’s Station 85 in Choctaw County, AL. The pipeline, when completed, would have the capacity to transport more than 1 Bcf/d to serve local distribution companies, industrial users and natural gas-fired power generators. According to the Energy Information Administration, Florida generates 62% of its power from 1.1 Tcf of natural gas.
Thanks to the Marcellus Shale, Houston-based Cabot Oil & Gas Corp. recently completed the best quarter in its history on an operational and financial basis, said CEO Dan Dinges. The company is adding a sixth rig in the play as it anticipates multiple infrastructure projects will come online in the months ahead, increasing the ability to get its gas to markets.
With solid second quarter results in the books, Encana Corp. is taking a look at its entire North American portfolio and has begun putting a “new emphasis on our portfolio of emerging liquids plays,” newly installed CEO Doug Suttles told investors last week.
George Phydias Mitchell, 94, who is credited with pioneering unconventional drilling techniques that have opened up North America’s natural gas and oil potential, died Friday at his home in Galveston, TX.
Members of a panel testifying at a hearing of a Senate Banking, Housing and Urban Affairs subcommittee last week warned that allowing global conglomerates to own multiple pieces of the production and marketing chain for any commodity, including oil and natural gas, while simultaneously also speculating on the price of those commodities, opens the door to potential manipulation of prices.