Natural Gas

Oil

US oil and natural gas rig count drops by 21 to 1,048

HOUSTON (AP) — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 21 this week to 1,048 amid falling oil prices.

Houston-based Baker Hughes said Friday 813 rigs were seeking oil and 233 exploring for natural gas. Two were listed as miscellaneous. A year ago, 1,809 rigs were active.

2 US funds to invest $900 million in Mexican gas pipeline

MEXICO CITY (AP) — Mexico's state-owned petroleum company Pemex has signed an agreement giving two investment funds a 45 percent stake in a natural gas pipeline in exchange for $900 million.

The Los Ramones pipeline will transport natural gas from Texas to Mexico and is intended to facilitate imports of cheap U.S. gas and lower Mexico's high commercial electricity rates.

New York fire, building collapse injure 19; gas blast blamed

NEW YORK (AP) — An apparent gas explosion leveled an apartment building, largely destroyed another and launched rubble and shards of glass across streets in the heart of Manhattan's trendy East Village on Thursday, injuring 19 people. Smoke could be seen and smelled for miles.

Restaurant diners ran out of their shoes and bystanders helped one another to escape the midafternoon blast, which damaged four buildings as flames shot into the air, witnesses said. Passers-by were hit by debris and flying glass, and bloodied victims were aided as they sat on sidewalks and lay on the ground, they said.

EnergyGuardian photo

Interior fracking rule takes bipartisan beating

Calling it “frustrating,” “terrible” and “distressing,” Democrats and Republicans on Thursday ripped into the Interior Department's new rule on hydraulic fracturing as they heard testimony from the director of the Bureau of Land Management.

At a hearing of a House Natural Resources subcommittee, there was bipartisan dissatisfaction as lawmakers told BLM Director Neil Kornze that the rule was misguided – with Republicans calling the rule a unnecessary burden to industry and Democrats decrying it as too weak on environmental protection.

Cyprus draws Norway parallel after latest gas quest failure

NICOSIA, Cyprus (AP) — Cyprus' president sought to draw a parallel with oil-rich Norway after the latest failure in the Mediterranean island nation's quest for gas.

President Nicos Anastasiades told reporters Thursday he's not disheartened by the failure of an Italian-South Korean consortium to find commercially viable amounts of gas during exploratory drilling in an area off Cyprus' southern coast.

Maryland legislature moves toward fracking moratorium

Source: 
The Associated Press

Both chambers of Maryland's legislature voted Tuesday to impose a three-year moratorium on hydraulic fracturing, The Associated Press reports.

Sempra seeks approval for LNG facility in Port Arthur

Source: 
FuelFix

A subsidiary of Sempra Energy has asked that the federal government begin reviewing its proposal to build an LNG plant and export facility in Port Arthur, Texas, FuelFix reports.

Northeast gas pipeline progresses, to some landowner dismay

HARPERSFIELD, N.Y. (AP) — The 124-mile Constitution Pipeline will likely bring some relief from high natural gas prices to residents of New York City and New England, but it will also bring anguish to some landowners in the wooded hills and valleys in its path.

It will slash a mile-long gash through a pristine forest tended by the Kernan family for seven decades. It will spoil Andrew Havas' plans to build a home and automotive shop. It will disrupt farming operations for dairyman Ken Stanton. It will dash hopes Bob Lidsky and Bev Travis had of building the hilltop home where they planned to retire with their five huge mountain dogs.

Natural gas prices drop on expectations of increased production

Source: 
Platts

The continuing chill in the East wasn’t enough to boost natural gas prices Friday, with the April Nymex contract closing down 2.7 cents at $2.786 per million British thermal units, Platts reports, citing an analyst who predicts that natural gas production will continue to increase to new record levels this year.

Associated Press

Interior fracking rule takes fire from both sides

The Interior Department's final rule regulating the use of hydraulic fracturing for oil and gas on federal and tribal lands met swift legal and legislative pushback from industry groups and congressional Republicans Friday. They said it would hinder energy development and infringe on established state regulatory systems.

But on the other side, Democrats and environmental groups raised concerns that the move didn't go far enough to protect public lands from the oil and gas extraction process.

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