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Stronger Natural Gas Still Lacks Allure

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US natural gas prices have begun to strengthen as oil prices have begun to drop, but both remain far from levels that would prompt exploration and production companies to shift capital back to gas from liquids.

For the past few years, with Henry Hub natural gas trading mostly in the $2.00-$4.00 per million Btu range, higher-priced and higher-margin oil and liquids have been the target of choice for US onshore drillers. But as natural gas prices have recently edged above $4.00/MMBtu and West Texas Intermediate oil prices have dipped below $90 per barrel, some analysts are questioning at what price levels gas drilling might look appealing, and oil or liquids drilling less so. Keep reading →

 /  Published April 19, 2013 at 8:30 AM

Alaska Legislature Passes Oil Tax Reform Bill

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Alaska’s legislature has given final approval to a bill designed to reform the state’s oil tax structure with significant tax cuts aimed to spur production and new investment.

On April 14, 2013, Alaska’s Legislature passed Senate Bill 21, an oil-tax reform bill aimed to encourage industry production and investment. The approval came on the final day of the 90-day legislative session after the Senate accepted amendments made by the House. The Senate passed the bill by a vote of 12-8, and the House passed its version by a vote of 27-12. Keep reading →

 /  Published April 18, 2013 at 1:30 PM

Plasma Device Developed at MU Could Revolutionize Energy Generation and Storage

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Storing large quantities of energy is one of the greatest challenges facing utility-scale renewable sources like wind and solar. Battery technology has significantly advanced in recent years, but still remains relatively expensive. Researchers have been working on various methods of storing energy, like vanadium flow batteries, and now engineers at the University of Missouri have made a breakthrough that allows them to create and control plasma, which could have wide-ranging implications for generating and storing energy.

“Besides liquid, gas and solid, matter has a fourth state, known as plasma. Fire and lightning are familiar forms of plasma. Life on Earth depends on the energy emitted by plasma produced during fusion reactions within the sun,” MU said in a statement. Keep reading →

 /  Published April 18, 2013 at 11:00 AM

EV Finds Larger Appetite for Smaller Utica Asset Packages

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After turning down a purchase offer from a large company for a majority stake in more than 100,000 prospective Utica shale acres, upstream master limited partnership EV Energy Partners (EVEP) is finding that many of the buyers in the market have more of an appetite for smaller deals.

EVEP has been marketing 103,800 acres in the Ohio portion of the Utica shale spanning black oil, light oil, wet gas and dry gas zones. But the company recently turned down an offer from a large prospective buyer, citing unacceptable deal terms. Keep reading →

 /  Published April 18, 2013 at 9:00 AM

Government Policy Can Help Innovate the Path to a Clean Energy Future

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The key to broader penetration of solar energy depends on access to capital markets and innovative financial structures that can reduce the cost of capital for project finance as well as increase the investor base beyond the traditional tax-equity driven investors. There is a strong case for the DOE to establish the Advancd Research Project Agency-Capital (ARPA-C) that will function to support the broader adoption and commercialization of renewable energy through mechanisms, including credit enhancment and direct equity investments for capital market project aggregation warehouse facilities and securitization transactions.

While ARPA-E has been successful for the deveopment of new renewable technologies, the renewable sector can benefit from the expansion of ARPA-E to include capital to catalyze the breakthroughs for financial innovations. ARPA-C innovations can help bridge the funding gap that challenges renewable energy growth by providing structural support for renewable energy projects to develop capital markets solutions. Capital Markets structures can help reduce the total installed cost of solar electricity significantly – and combined with other DOE initiatives could help make solar power cost-competitive without additional subsidies. The Obama adminstration outlined in the March 20, 2011 publication “Blueprint for a secure energy future”, three major goals : Keep reading →

 /  Published April 17, 2013 at 2:30 PM

Good News From the IRS on the PTC for Wind and Geothermal

By Greentech Media


The IRS has clarified the “under construction” provision in the production tax credit.

Some good news from the IRS on April 15. Keep reading →

 /  Published April 17, 2013 at 12:30 PM

Devon Confident on Keystone XL Oil Pipeline

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Devon Energy chief executive John Richels is confident that US President Barack Obama’s administration will approve the the Keystone XL pipeline, but he expects the gap between prices for Canadian heavy oil and US benchmark West Texas Intermediate (WTI) to narrow even if the pipeline never gets built.

“Keystone XL is going to be approved,” Richels told attendees of the Independent Petroleum Association of America’s Oil and Gas Investment Symposium in New York on Tuesday. “From a national point of view it makes no sense for the President not to approve that, and buy more oil from Venezuela and the Middle East.” The Keystone XL pipeline, as envisaged, would transport up to 830,000 barrels per day of Canadian oil from Alberta to US refineries. Keep reading →

 /  Published April 17, 2013 at 10:30 AM

Southwestern Energy on Industry Outlook, EPA Methane Regulations and US LNG Exports

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One of the largest independent natural gas producers in the US, Southwestern Energy, is optimistic about the US natural gas industry outlook despite anticipated cost increases associated with upcoming EPA rulemaking.

Southwestern President and CEO Steve Mueller said his company was not concerned about fracking regulations, but described methane emissions as a “big concern” when fielding questions from Wall Street analysts at the Independent Petroleum Association of America’s Oil & Gas Investment Symposium in New York on Monday. Keep reading →

 /  Published April 17, 2013 at 8:30 AM

Linn Paves Way for MLPs to Tap Broader Market

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Upstream master limited partnership (MLP) Linn Energy’s strategy to attract a broader array of investors is likely to inspire other companies in the space to follow suit, but competitors will take at least a few years to emerge, according to chief financial officer Kolja Rockov.

Linn established LinnCo, a vehicle that exists solely to hold units of the Linn MLP, as a means of raising additional equity capital. Linn then launched an initial public offering of LinnCo shares – in part to be used to raise funds for acquisitions – in October 2012. Keep reading →

 /  Published April 16, 2013 at 1:30 PM

Asian LNG Demand Gives Quicksilver a Leg Up on Gas Deals

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Low natural gas prices in North America have prompted many oil and gas companies to jettison their dry gas assets, Fort Worth-based Quicksilver is capitalizing on Asian buyers’ efforts to secure lower-cost LNG feedstock to attract joint venture partners for its acreage in areas like the Horn River and Barnett shales.

Quicksilver is in negotiations for a joint venture partner in its Horn River Basin acreage in Canada. The company appears to be favoring an Asian buyer with an eye to exporting natural gas across the Pacific. Keep reading →

 /  Published April 16, 2013 at 11:00 AM
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