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Shell Scores Again in Deepwater GOM

Three years after the Macondo well blowout and resulting drilling moratorium, oil and gas exploration has been slowly but surely returning to the Gulf of Mexico (GOM). On Wednesday Royal Dutch Shell plc reported a successful exploratory well at Vicksburg in the deepwater GOM.

July 5, 2013

NatGas Research May Put CO2 to Work in Industrial Processes

Backed by Germany’s government, three global firms have begun a three-year project that will attempt to make the greenhouse gas carbon dioxide (CO2) into a useful component of various industrial processes, starting with abundant natural gas supplies as a feedstock.

July 5, 2013

Louis Freeh to Probe BP Gulf Coast Settlement Process

Former FBI Director Louis Freeh was appointed Tuesday as a special master to investigate apparent misconduct by one of the lawyers who helped manage BP plc’s $7.8 billion settlement fund with Gulf Coast plaintiffs over the deepwater Macondo well blowout in April 2010.

July 5, 2013

NW Natural Proposes Oregon CNG Service

Portland, OR-based NW Natural has asked Oregon regulators for approval to provide compressed natural gas (CNG) fueling service to business customers. The cost of the service would be paid by the individual customers using it.

July 5, 2013

‘Big Flood’ of LNG Over Next Several Years, Says Industry Veteran

Some time ago, the North American shale gas surprise gathered enough momentum to turn liquefied natural gas (LNG) tankers bound for the United States around, sparking a frenzy to construct liquefaction and export capacity on U.S. and Canadian shores. A “big flood” of LNG is on its way in the next several years, an industry veteran told NGI.

July 3, 2013

Linn-Berry Petroleum Deal Draws SEC Scrutiny

Shares of Linn Energy LLC and LinnCo LLC took a tumble Tuesday after the companies disclosed that the Securities and Exchange Commission (SEC) was looking into details of LinnCo’s planned merger with Berry Petroleum Co.

July 3, 2013

Sommers to Depart CFTC Next Week

Her resignation from the Commission does not come as a surprise as she informed President Obama in January that she planned to leave the CFTC before her term ended (see Daily GPI, Jan. 28). Asked where she intended to go after the CFTC, Sommers told NGI, “I don’t know. I have not started looking for my next opportunity yet.”

July 3, 2013

Deep Panuke Still in Holding Pattern

The Deep Panuke natural gas production facility offshore Nova Scotia is “closer to natural gas production but not quite there yet,” an Encana Corp. spokeswoman said Tuesday.

July 3, 2013

California Carbon Capture/Storage Project In Doubt (Again)

A preliminary analysis released last Friday by state and federal energy officials has recast doubts about the future of a $4 billion project that involves what would be California’s first commercial carbon capture and storage (CCS) facility slated for the state’s oil patch in the southern end of the central valley west of Bakersfield.

July 3, 2013

Great Lakes Advance; California Citygates Ease; Futures Gain

Physical natural gas prices on average gained a penny Tuesday with traders seeing no immediate need to make purchases during a holiday-muted trading week. Upper Midwest points added a couple of cents, and West Coast citygate prices were lower as forecasts of power demand were tempered. At the close, August futures were up 7.7 cents to $3.654 and September had added 7.8 cents to $3.651. August crude oil rose $1.61 to $99.60/bbl.

July 3, 2013