Natural Gas

Oil

Cleanup continues for SE Ohio drilling leak

COLUMBUS, Ohio (AP) — A Colorado-based energy company was cleaning up hundreds of gallons of oily fluid that leaked into a nearby creek while it was drilling an oil and gas well in southeast Ohio.

An oil-based lubricant known as "mud" spewed from a well head Sunday during drilling for a hydraulic-fracturing well near Beverly, Ohio, just west of Marietta. About 1,600 gallons leaked from the drill site into a creek that is a tributary of the Muskingum River, said Heather Lauer, a spokeswoman for the Ohio Environmental Protection Agency.

The spill thus far has been confined to that creek, Lauer said. The agency is overseeing the cleanup work, which is being performed by a contractor for Denver-based PDC Energy Inc., the site's owner.

Moniz sees US exporting ‘large amounts’ of LNG

Source: 
Platts

The first U.S. LNG export project would start shipping in 2015, the next three years later, and the country will be putting “large amounts of natural gas into the global market,” which ministers meeting in Rome this week agreed would be good for energy security, Energy Secretary Ernest Moniz told Platts.

Chesapeake to see positive cash flow

Source: 
Bloomberg

Cost-cutting by new CEO Doug Lawler is finally having an impact at Chesapeake Energy, with the company on track to take in more than it spends for the first time in more than a dozen years, Bloomberg reports.

SEC’s McClendon probe finished: Chesapeake

Source: 
Reuters

The Securities and Exchange Commission investigation into former Chesapeake CEO Aubrey McClendon has wrapped up with no recommendation made for any action to be taken, the company reported Wednesday, according to Reuters.

Connecticut bans storage of gas drilling waste

HARTFORD, Conn. (AP) — A last-minute tussle over eel fishing in Connecticut interfered briefly with legislation that overwhelmingly passed the House of Representatives halting the storage and disposal of waste from gas exploration.

Lawmakers imposed a minimum three-year moratorium on importing waste from hydraulic fracturing, or fracking. The legislation requires the Department of Energy and Environmental Protection to adopt regulations declaring waste and byproducts to be treated as hazardous waste.

The measure, which passed 128-19, also requires the industry to disclose the contents of waste and protect the environment from radioactive materials. It has passed the Senate and now heads to Gov. Dannel P. Malloy.

Chesapeake Energy 1Q helped by higher gas prices

OKLAHOMA CITY (AP) — Chesapeake Energy's net income soared in the first quarter, benefiting from higher natural gas prices and an increase in oil and natural gas liquids production.

The Oklahoma City-based natural gas company earned $374 million, or 54 cents per share, for the three months ended March 31. A year earlier it earned $15 million, or 2 cents per share.

Taking out certain items, earnings were 59 cents per share. Analysts, on average, expected 48 cents per share, according to FactSet.

Texas city could be first in state to ban fracking

DENTON, Texas (AP) — A North Texas city that sits on top of the Barnett Shale, believed to hold one of the largest natural gas reserves in the U.S., could become the first area in the state to permanently ban hydraulic fracturing.

A recently adopted temporary ban is in place until September, but fracking opponents want to make that permanent through an ordinance that would prohibit the practice in Denton.

Operators would be allowed to continue extracting energy from the 275 wells in Denton that have already undergone fracking, but not reinitiate the process on old wells.

Oil

Spain's Repsol sells YPF stake to Morgan Stanley

MADRID (AP) — Spain's Repsol oil and gas company says it has sold an 11.86-percent stake it owned in Argentina's YPF energy company to Morgan Stanley for 900 million euros ($1.25 billion), effectively leaving it without a stake in a company it once controlled.

Repsol SA told Spain's market regulator Wednesday the stake represented 46.6 million shares. It said it now owns less than 0.5 percent of YPF.

Gas industry rallies at Pa. Capitol, teased by critics

HARRISBURG, Pa. (AP) — A rally promoting Pennsylvania's booming natural gas drilling industry on Tuesday filled the front steps of the state Capitol, where the industry has an ally in the governor's office, lobbying muscle to flex with lawmakers and campaign cash to flash.

The show of support also brought out a handful of protesters and an airplane overhead with the banner, "shale gas=dirty energy."

More gas talks planned between EU, Russia and Ukraine

Source: 
The Wall Street Journal

The different sides have the month of May to resolve differences over Ukraine’s estimated $3.5 billion gas debt to Russia, according to a spokeswoman for the European Commission, who said that at least two more rounds of talks will be held with the two and the EU, The Wall Street Journal reports.

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