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FERC has given a favorable environmental assessment (EA) to two related expansions proposed by Texas Eastern Transmission (Tetco) to carry Rocky Mountain natural gas to Northeast markets.
With non-strategic assets sales behind it, The Woodlands, TX-based Newfield Exploration Co. is focusing on multiple oil and liquids-rich projects and is placing particular emphasis on drilling longer laterals.
The Cana-Woodford, Eagle Ford and Bakken/Sanish/Three Forks plays continued to lead the activity growth in unconventional fields over the last year as oil and gas producers put more weight on liquids-rich shales to take advantage of higher commodity prices found in oil and natural gas liquids. Conversely, some of the nation's dry gas shales have seen the largest drilling activity declines as natural gas prices remain below $4/MMBtu for much of the country.
Natural gas prices should rebound to "reasonable" levels of $6-7/MMBtu long term, which makes the abundant fossil fuel more attractive to develop than renewable resources, ConocoPhillips CEO Jim Mulva said last week.
Colorado Interstate Gas Co. (CIG) Monday got the green light from FERC to place in service an expansion of its system to serve growing natural gas demand along the Colorado Front Range, particularly in the Denver metropolitan area.