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New York should proceed cautiously as it considers how to regulate hydraulic fracturing (hydrofracking) in shale drilling operations, but the state shouldn’t wait for federal authorities to complete a lengthy review, the incoming Department of Environmental Conservation (DEC) chief said Tuesday.

Maryland, whose far western panhandle is within the Marcellus Shale, should place a moratorium on drilling permits until it “can put in place the regulations and enforcement capacity to ensure that we keep our water safe,” according to state Delegate Heather Mizeur (D-Montgomery County).

A fire that erupted at midday Tuesday at the Mont Belvieu, TX, natural gas liquids (NGL) hub was under control within a few hours and was being allowed to burn out, according to owner and operator Enterprise Products Partners LP.

Within 20 years natural gas will emerge as the second-largest energy source after oil, ExxonMobil Corp. reported Thursday in the latest edition of “Outlook for Energy: A View to 2030.”

Within 20 years natural gas will emerge as the second-largest energy source after oil, ExxonMobil Corp. reported Thursday in the latest edition of “Outlook for Energy: A View to 2030.”

High oil prices have lifted producer interest in liquids-rich natural gas plays; they’ve also pulled up the economic attractiveness of converting gas to liquid fuels and other products.

Moving up the ladder to become the second largest acreage holder within the liquids-rich Bakken Shale oil play in North Dakota, Hess Corp. said Wednesday it has completed the acquisition of 167,000 net acres in the region from TRZ Energy LLC for $1.05 billion in cash.

Residents of Dimock Township in Susquehanna County, PA, whose drinking water supplies were contaminated by natural gas, are to receive a share of $4.1 million that Cabot Oil & Gas Corp. agreed to pay under a settlement negotiated with the state’s Department of Environmental Protection (DEP).

Nearly a week after a bill that would temporarily block hydraulic fracturing (fracking) in the Empire State landed on his desk, New York Gov. David Paterson has not decided if he will sign or veto the legislation.