A check, which says markets, not boosters, decide the fate of projects, is built into the biggest plan for exporting liquefied natural gas (LNG) from new terminals on the northern Pacific Coast of British Columbia (BC).
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Nabors Sees ‘Pronounced’ Shortfall in Pressure Pumping, Top Drives
Oilfield services giant Nabors Industries Ltd. last week warned that operating results for the second quarter will fall below consensus estimates because of a “pronounced” shortfall in the pressure pumping and top drive completion service lines.
Researchers Differ Over How Shale Impacts Ohio Housing
Researchers commissioned by state government agencies have offered differing opinions over whether a housing shortage is on the horizon in eastern Ohio, where development is ramping up in the state’s portions of the Marcellus and Utica shales.
Rail Delivery of U.S. Crude Through June Up 48% From Year Ago
U.S. domestic crude oil production is at its highest level in 20 years, outstripping pipeline capacity and, increasingly, making its way to refineries and storage centers via railroads, according to the Energy Information Administration (EIA).
SM Energy Selling Anadarko Basin Properties
Denver-based SM Energy Co. is marketing all of its properties in the Anadarko Basin, including its Granite Wash interests. The sale of the gas-weighted assets is part of normal high-grading activities, the company said. Proceeds could be spent in the Permian Basin or in the Eagle Ford Shale, analysts speculated last week.
OPEC Feeling the Weight of U.S. Shales
Prolific oil production from U.S. shales is weighing on the need for imports, OPEC acknowledged in its latest Monthly Oil Market Report (MOMR), and analysts at Barclays predicted that the Organization of the Petroleum Exporting Countries will see its influence over market balances decline over the next few years.
Correction
In a story published July 8, “NatGas Gasoline Fueling Research” (see NGI, July 8), NGI incorrectly stated that Primus Green Energy sells a gasoline product for about $2.00/gallon. In fact, the company creates the product at a cost of $2.00/gallon. In addition, NGI incorrectly stated that the company expects to produce 10,000 gallons of fuel annually. The company actually plans to produce 100,000 gallons of fuel annually. NGI regrets the errors.
Exco Still Shopping After $1B Deal
Exco Resources Inc. is back in the acquisition game after having struck a $1 billion deal with Chesapeake Energy Corp., CEO Douglas Miller said last week. There are plenty of deals, and financing is available, he told analysts following the company.
Appalachian Production Crying Out for Interstate Connections
Production in the Marcellus Shale over the past few years “has been nothing short of epic,” and it is straining infrastructure to the point that the Appalachian region is in need of larger interstate connections, said Genscape Inc. senior natural gas analyst Andy Krebs.
Connecticut Natural Gas Pipeline, Distribution to be Expanded
Connecticut Gov. Dannel Malloy has signed legislation that would expand the state’s natural gas distribution system at the same time as a planned expansion of Algonquin Gas Transmission will increase supply access to New England.