On March 1, a little over two months ago, UGI Penn Natural Gas, a utility which serves approximately 158,000 customers in 13 counties in northeastern and central Pennsylvania, announced it was immediately reducing natural gas rates for its customers by 4.5 percent (see this MDN story). UGI announced yesterday it would file its annual rate [...]
Has T. Boone Pickens, Texas oil billionaire and author of “The Pickens Plan” that calls for America to use natural gas to reduce our dependency on OPEC oil and as a bridge to a renewable energy future, now turned his back on natural gas? His investment company, BP Capital Management, has sold off all of [...]
In January 2012, Chesapeake Energy announced they would curtail (reduce) their natural gas production by 1/2 billion cubic feet (bcf) per day. In February, they announced they would double it to 1 bcf per day (see this MDN story). Other energy companies also announced they would cut production, all in an attempt to reduce supply [...]
In a Reuters news story about the Energy Information Administration’s (EIA) latest report showing natural gas production fell slightly in February, we get the following graphic which MDN found interesting. It shows the Baker Hughes rig count (number of natural gas drilling rigs) plotted as one line, with the second plotted line representing natural gas [...]
Yesterday the commodity price of natural gas hit a 10-year low, $1.984 per 1,000 cubic feet. There will be plenty of stories in the press about it. However, in one of those stories, we get this interesting and helpful information about the price, as well as the areas producing the most natural gas and the [...]
How low might the commodity price of natural gas go before drillers really will quit drilling and wait for the price to go up? We’ll give you “the magic number” in a moment. But first, the (rather sketchy) rationale for how we calculate that number. It seems almost every day we hear in the mainstream [...]
Utility customers of Corning Natural Gas Corp. in New York State’s Finger Lakes region can thank their neighbors south of the border in Pennsylvania that they are now paying 50 percent less for their natural gas than they paid just one year ago. And they can also thank the energy companies who use hydraulic fracturing [...]
Yet another Pennsylvania utility is lowering rates customers pay—this time it’s a rate cut for electricity by Peco Energy which supplies the Philadelphia area. Low cost natural gas is being used in electrical generating plants and the utility is passing along the lower cost to produce electricity to its customers, thanks in part to an [...]
The Pittsburgh area’s three largest natural gas utilities have just dropped their natural gas rates (again) for customers—this time up to 22 percent.
The commodity price for natural gas in the U.S. hit a 10-year low yesterday after a government report of a larger-than-expected jump in supplies. There’s now more natural gas in storage than the entire country uses in a month.
The number of gas drilling rigs continues a slow decline in Pennsylvania as companies reallocate those rigs to Ohio and to areas in the country where shale oil drilling is expanding.
Here’s a prediction on the commodity price of natural gas from John Pinkerton, CEO of Range Resources, as delivered at the Wall Street Journal’s ECO:nomics conference this week:
Loading ...
