A great article appears in the March Section Report of the Oil, Gas and Energy Resources Law section report, by Jacqueline Weaver, Professor Emeritus, University of Houston Law Center: “The Railroad Commission’s New Duties to Keep Texans Warm: Winter Storm Uri Forces Change.” Here are some excerpts: The throughput of…
Abbott said the legislature’s response to the breakdown of Texas’ electric grid “fixed all the flaws.” News media reports and experts are questioning that conclusion. A UT Austin study concludes that lawmakers did not do enough to prevent future power failures and recommended 20 additional policy changes. It is estimated…
Great graphic from the Energy Information Administration: It’s amazing how production has held up and even increased despite low gas prices. Production declines have shown up only at the beginning of this year, even though prices have been below $3.00 since January 2015.
Arthur Berman, a geological consultant, has once again blasted the economics of gas shale plays — this time the Marcellus. At the annual conference sponsored by the Association for the Study of Peak Oil & Gas – USA, held on October 7-9 in Washington, D.C., Mr. Berman made a presentation:…
The Wall Street Journal reported today that the Energy Information Administration will revise the way it estimates U.S. natural gas supplies, after concluding that its current method significantly over-estimates supply. An analysis has concluded that there are discrepancies of as much as 12% between the total gas supply (gas produced…
The information below is from the Energy Information Administration. Note the wide variation in City Gate and Wellhead Prices among different states: Below is the same information in graph form. Why would average residential gas prices in Texas be $12.88 per mcf, while residential prices in California and Minnesota —…
Gas prices in Texas recently dipped below $2/mmbtu. Companies are shutting in wells to avoid selling at such low prices. Nevertheless, record volumes of gas are going into storage. The chart shows the five-year monthly average of gas in storage for the last five years, and the red line shows…
Items from this week: Prices: Natural gas prices continue to decline. Below is a comparison of gas NYMEX futures prices with S&P 500 for the last year: On August 14, futures for September delivery settled at $3.24/MMBtu, a 52-week low. Futures prices have declined about 65% from this time…
Below is an interesting chart published by the U.S. Energy and Informaton Administration, showing how the U.S. used energy in the U.S. in 2007: The sources of energy are on the left, the sectors of the economy that consume energy are on the right. The lines connecting supply sources and…
The Energy Information Administration has revised its forecast for 2009 U.S. industrial natural gas demand, to decline by 7.4% this year. It predicts total natural gas consumption to fall 1.8% in 2009. U.S. natural gas production is expected to decline 0.3% in 2009, and to slip 1% in 2010. EIA predicts natural gas…