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.Will Exporting Natural Gas Damage Domestic Energy Markets?
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.
Overproduction in the Natural Gas Industry
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.
EIA Cuts Shale Gas Resource Estimates
“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.
Economic Benefits from the Haynesville Shale
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.
Natural Gas Prices are Still Falling
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
Shale Gas Increases 17X
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.
Fracking Backlog in North Dakota
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 Oil and Natural Gas Report
“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.
25% of New England’s Natural Gas is LNG
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.
Eagle Ford Shale
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.
Oil India Wants an Eagle Ford Shale Stake
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.
No Hydraulic Fracturing in Bulgaria
Chevron has been denied the option to use hydraulic fracturing while drilling natural gas shales in Bulgaria.
More at Star-Telegram.
Texas: Fracking Chemicals and Water Consumption Reports
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.
Support for Falling Natural Gas Prices?
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.
India Gas Shale Assessment
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.
Azerbaijan Oil and Natural Gas Report
“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.
Errors in Marcellus Shale Well Counts?
Newspapers, legislators, drillers and environmental organizations have been confused by Marcellus Shale drilling data published by the State.
More at Pittsburgh Post-Gazette.
Natural Gas Futures Price – $2.77
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.
Shale Gas and Shale Oil Resources of the Norte Basin, Uruguay
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.
Methane Is Ubiquitous in Shallow Groundwater
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.
US Gas Shales Attract Worldwide Investors
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.
Fracking Did Not Cause the 8/23/11 Virginia Earthquake
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.
Ohio Injection Well Temporarily Closed
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.
Another Big Chinese Purchase of US Shale Plays
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.
Declining Royalty Payments from Natural Gas Wells
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 Spends $2.32B for Utica Shale Assets
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.
North Dakota Oil Production Rising
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.
Irrational Natural Gas Prices?
Lots of factors contribute to the natural gas prices paid by residential customers. Long term contracts and distant supply sources can hold residential prices high even though natural gas is locally in abundance. Residential customers in Arkansas, Lo…
More at Energy Information Administration.
Natural Gas Discovery Off Cyprus
Noble Energy reports the discovery of a natural gas field of the coast of Cyprus that could hold up to 8 trillion cubic feet.
More at Business Week.
1/3 of Bakken Gas is Flared
The Energy Information Administration reports that about 1/3 of the natural gas produced from the Bakken Formation of North Dakota is flared instead of marketed because natural gas pipelines are not present in the production area or they can not accept…
More at Energy Information Administration.
Gas Fracking
Jadela Oil recently used 5000 barrels of liquid propane and butane to frack a horizontal well in Maverick County, Texas. When gas is used for fracking it can be recovered and sold or recycled instead of being a disposal problem.
More at Caller.com.
The Strait of Hormuz Choke Point
The Strait of Hormuz is a narrow passage (about 35 miles wide) that connects the Persian Gulf with the Arabian Sea. It is strategically important because about 1/3 of the world’s seaborne oil shipments must pass through the Strait on their way to market. Today, the chief of Iran’s navy commented on English language television that Iran’s military could easily close the Straight. The U.S. Navy’s response was “that will not be tolerated”.
More at MSNBC.
Deep Well Injection and Earthquakes in a Geothermal Field
An article on the Oregon Public Broadcasting website describes the proposed use of fluid injection as part of an enhanced geothermal system that will utilize wells drilled on the flank of Newberry Crater. The U.S. Department of Energy is putting $22 million into the project. USGS has a recently installed seismic array that will monitor earthquakes produced by the injection.
Related: A Department of Energy introduction to enhanced geothermal systems [1].
[1] http://www1.eere.energy.gov/geothermal/egs_animation.html
More at Oregon Public Broadcasting.
Electric Power from the Marcellus and Utica Shales
As environmental regulations hasten the closure of coal-fired power plants American Electric Power plans to build a 1bcf/day pipeline to deliver gas from wells in the Marcellus [1] and Utica Shales [2].
[1] http://geology.com/articles/marcellus-shale.shtml
[2] http://geology.com/articles/utica-shale/
Economic Impacts of Marcellus Shale in Pennsylvania
“This
study
examines
how
several
key
unexplored
aspects
of
Marcellus
Shale
natural
gas
development
in
Pennsylvania
will
affect
the
overall
economic
impact
occurring
in
the
Commonwealth.
Where
leasing
and
royalty
dollars
are
actually
going,
and
how
they
are
being
spent,
has
not
been
examined
in
previous
economic
studies.” Quoted from the report’s abstract.
Leasing for an Unconventional Play in Southcentral Kansas
An article on the FuelFix.com website reports that Chesapeake Energy, Shell and other companies have leased hundreds of thousands of acres in southcentral Kansas with hopes of producing oil and gas from unconventional formations.
More at FuelFix.com.
Testing the Tuscaloosa Marine Shale
Some of the first horizontal wells in the Tuscaloosa Marine Shale of central Louisiana are yielding oil. Some researchers believe that the formation contains billions of barrels of oil.
More at FuelFix.com.
Marcellus Shale in 2012
An article on the Boston.com website explores possible developments related to the Marcellus Shale in 2012. A new lease environment, geographic shifts in activity, price directions and more.
More at Boston.com.
Pennsylvania Natural Gas Production is UP
The Energy Information Administration has a brief article on the rapid increase in natural gas production that has occurred in the northeastern United States since 2004. The largest gains were in northeastern Pennsylvania, southwestern Pennsylvania an…
More at Energy Information Administration.
