shale

Kinder Morgan Energy Partners LP is now considering reversing its Rockies Express Pipeline, acknowledging that with plenty of natural gas along the East Coast, the pipeline may better serve customers in the West.

The Energy Information Agency (EIA) has released a report estimating the volumes of gas and oil recoverable from shale plays in the 48 contiguous United States: about 750 trillion cubic feet of gas, and 24 billion barrels of oil.

Chevron, the second-largest U.S. oil company, added 228,000 acres in the Marcellus shale in May to follow up on its $3.2 billion acquisition of Atlas Energy, which gave Chevron its first big stake in the northeastern field.

Korean Gas Corp., the world's biggest LNG purchaser, is buying into a northeastern B.C. shale gas play in a move that proponents say promises to accelerate LNG exports to Asia.

While predicting that U.S. natural gas prices will reach $6 per million Btus by 2015, Goldman Sachs analysts projected they will average just $4.25 in the near term as new shale gas continues to flow into the market.

On July 28, the Environmental Protection Agency (EPA) issued a draft of new air quality rules for oil and natural gas applications, including processing plants and wells using hydraulic fracturing. The draft had not yet been entered into the federal record, but were available for review and announced upcoming public hearing meetings in Dallas, Pittsburgh and Denver.

NuStar Logistics and Velocity Midstream Partners plan to build a 70-mile pipeline to transport Eagle Ford shale oil products to NuStar’s terminal near Corpus Christi.

El Paso and Spectra announced that their jointly developed project, Marcellus Ethane Pipeline System (MEPS), is holding a 30-day open season.

Koch Pipeline Company, L.P. received final shareholder approval to build a 20-inch crude oil pipeline between Pettus and Corpus Christi, TX to move Eagle Ford production.

As a nation as well as an industry we should be grateful for the apparent wealth of natural gas we are finding throughout the United States. It means a reliable, relatively inexpensive energy source for years to come in addition to badly needed jobs, tax revenues for governmental entities, and increased energy independence.

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