Articles tagged Technical

Temple University announced Wednesday that three faculty members will investigate the source of methane gas that has contaminated water wells near Marcellus Shale drilling sites in Susquehanna County, PA, and will also study how the debate over hydraulic fracturing (fracking) is affecting public policy.

Demand for oilfield services in North America's onshore -- especially hydraulic fracturing (hydrofracking) -- is growing faster than companies can add equipment, Halliburton CEO Dave Lesar said Monday.

July natural gas futures rose sharply on a combination of technical buying ahead of the long weekend and algorithmic traders utilizing buy stop orders to limit losses. At the close July had advanced 15.8 cents to $4.518 and August had risen 15.2 cents to $4.557.

The shale industry might need to go on the offensive against its critics, the head of an advocacy group told an audience in Pittsburgh Tuesday.

June natural gas futures eased, although a major contingent -- funds and managed accounts -- now appears to be aligned on the long side of the market and technical support remains intact. At the close June futures had fallen 2.3 cents to $4.670 and July was lower by 2.5 cents to $4.738. June crude oil cascaded lower giving up $2.47 to $111.05/bbl.

Chesapeake Energy Corp. on Thursday completed the sale of its Fayetteville Shale properties to a subsidiary of Australia's BHP Billiton Ltd.

After satisfying final technical requirements, San Diego-based Sempra Energy on Tuesday obtained final FERC approval to begin re-exporting liquefied natural gas (LNG) supplies from its Cameron import terminal in Hackberry, LA. However, a Sempra LNG spokesperson would not say whether any cargoes were ready to be reshipped.

Chevron Corp. could make a bigger push into U.S. unconventional plays once the acquisition of shale operator Atlas Energy Inc. is completed, CEO John Watson said Friday.

The U.S. State Department signed a memorandum of understanding (MOU) with India's Ministry of Petroleum and Natural Gas that will allow the two countries to share technical expertise on shale gas resources. Preliminary estimates by India's Association of Petroleum Geologists indicate that India's shale gas reserves may be larger than its proven conventional gas deposits. The MOU would help India assess its shale gas resources and help to train Indian personnel. As part of the agreement, the U.S. Geological Survey plans to study India's shale gas resources. The United States also would help India prepare for its first shale gas auction, which is scheduled to be held by the end of 2011.

Natural gas futures continued its trek lower Monday as traders were forced to pull weather premium out of the market, and technical traders reset support parameters. At the close October futures fell 8.1 cents to $3.800 and November skidded 9.3 cents to $3.916. November crude oil rose 3 cents to $76.52/bbl although more deferred contracts fell.