President Obama proposes a tax credit that will refund 50% of the extra cost paid for a natural gas-fueled truck above what would have been paid for the same truck with a diesel or gasoline fuel system. This is the type of incentive needed to assure t…
More at Business Week.
“Turkmenistan has some of the largest natural gas reserves in the world, yet the country faces a myriad of challenges in bringing those reserves to world markets. It is geographically far from end-use markets and lacks sufficient pipeline infrastructure to export more hydrocarbons.” Quoted from the EIA report.
More at Energy Information Administration.
An article on BusinessWeek.com reports that the recent slump in natural gas prices could save US homeowners $16.5 billion if prices persist for a year.
More at Business Week.
DOE/FE asked the U.S. Energy Information Administration to assess how specified scenarios of increased natural gas exports could affect domestic energy markets, focusing on consumption, production, and prices.
More at Energy Information Administration.
National Public Radio has a podcast titled: “Is The Booming Natural Gas Industry Overproducing?”. It explores how natural gas companies are cutting back on production, filling underground storage and moving their rigs out of the dry gas areas.
More at National Public Radio.
“The estimated unproved technically recoverable resource (TRR) of shale gas for the United States is 482 trillion cubic feet, substantially below the estimate of 827 trillion cubic feet in AEO2011. The decline largely reflects a decrease in the estimate for the Marcellus shale, from 410 trillion cubic feet to 141 trillion cubic feet.” Quoted from the Annual Energy Outlook 2012 Early Release.
More at Energy Information Administration.
An article on the NOLA.com website reports on the economic benefits that natural gas from the Haynesville Shale as brought to Louisiana. The Shreveport Times website reports on two new reality shows [1] that focus on lifestyle changes brought to the area by natural gas money.
[1] http://www.shreveporttimes.com/article/20120120/ENT/201200324/2-new-CMT-reality-shows-feature-NW-Louisiana-residents?odyssey=tab%7Ctopnews%7Ctext%7CFRONTPAGE
More at NOLA.com.
The price of natural gas [1] is still going down, hitting $2.32/MCF on Thursday, January 19th. This is the lowest natural gas price since early 2002.
Bank of America expects the price to fall below $2.00 [2].
[1] http://geology.com/articles/natural-gas-prices/
[2] http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2012/01/20/bloomberg_articlesLXYEJ50UQVI901-LY3LP.DTL
Since 2000, shale gas production in the United States has increased 17-fold and now comprises about 30 percent of total United States dry production.
More at Energy Information Administration.
Even though oil production from North Dakota’s Bakken Formation has propelled the state to new production records there is still a backlog of wells to be fracked.
More at Bloomberg.
“Uzbekistan has abundant oil and natural gas reserves. However, several factors such as lack of sufficient foreign investment and inadequate transportation infrastructure have deterred the country from becoming a major energy exporter.” Quoted from the Energy Information Administration.
More at Energy Information Administration.
Natural gas in the Northeast trades at premium prices compared to the rest of the United States due to pipeline constraints during periods of high demand in the winter. Liquefied natural gas has met over 25% of New England’s average daily natural gas demand since November 2010.
More at Energy Information Administration.
The Eagle Ford Shale is a black shale with a high organic carbon content in central Texas. I has become one of the most important economic generators in central Texas.
More at Geology.com.
An article on Reuters.com reports that Oil India Limited, a public oil and gas company under the control of the Government of India, is interested in buying a stake in the Eagle Ford Shale in the United States as well as stakes in natural gas shales in…
More at Reuters.com.
Chevron has been denied the option to use hydraulic fracturing while drilling natural gas shales in Bulgaria.
More at Star-Telegram.
A new regulation will require drillers in Texas to report the chemicals in their hydraulic fracturing fluid and the amount of water used to frack each well.
More at The Texas Tribune.
An article on The Globe and Mail website explores what might be the price support for falling gas prices – energy companies moving their investments to more profitable areas.
More at The Globe and Mail.
USGS has released a a fact sheet titled: “Assessment of Potential Shale Gas Resources of the Bombay, Cauvery, and Krishna–Godavari Provinces, India, 2011″.
More at USGS.
“Oil and gas development and export is central to Azerbaijan’s economic growth and the country is one of Caspian region’s most important strategic export openings to the West.” Quoted from the EIA report.
More at Energy Information Administration.
Newspapers, legislators, drillers and environmental organizations have been confused by Marcellus Shale drilling data published by the State.
More at Pittsburgh Post-Gazette.
The price of natural gas continues to fall with the Nymex Henry Hub Future price closing at $2.77/MMBtu today. That is the lowest price in ten years.
Current energy prices at Bloomberg. [1]
[1] http://www.bloomberg.com/energy/
More at Associated Press.
USGS has completed an assessment of the potential natural gas and oil resources present in shales of the Norte Basin of Uruguay.
More at USGS.
An article published by the Oil and Gas Journal shows that methane was ubiquitous in shallow groundwater prior to oil and gas drilling in Susquehanna County, Pennsylvania.
More at Oil and Gas Journal.
In just the past few weeks companies from China, France and Japan have purchased large holdings in the Eagle Ford, Utica and Marcellus Shales.
More at Bloomberg.
Someone must have blamed the Virginia earthquake of August 23 on hydraulic fracturing. An extensive article in the Daily Press explains why that is impossible.
More at Daily Press.
The Ohio Department of Natural Resources has temporarily shut down a waste injection well that is suspected to have triggered earthquakes. The state has nearly 200 other injection wells that have not been associated with seismic activity.
More at The Columbus Dispatch.
Sinopec, a major Chinese oil and gas company also known as China Petroleum & Chemical Corporation Limited, will purchase a 1/3 share of Devon Energy’s holdings in five shale plays in the United States for $900 million in cash and contribute $1.6 billion towards future drilling expenses. Properties in the Utica Shale, Tuscaloosa Marine Shale, Niobrara Shale are included.
More at Business Week.
Many property owners are very surprised when the royalties that they receive from a natural gas well on their property decline sharply. They are learning about production decline curves.
More at Geology.com.
Total has an agreement to purchase a 25% stake in 619,000 acres of Utica Shale in eastern Ohio from Chesapeake Energy for $2.32 billion. That is an average price per acre of $14,991.
More at San Francisco Chronicle.
Rising production from the Bakken Shale has propelled North Dakota up to the fourth largest oil producing state behind Texas, Alaska and California.
More at Energy Information Administration.
