Ultra credits new REX pipeline
for helping lift its gas sales price. Houston-based Ultra, which operates mainly in Wyoming’s Pinedale Anticline, said it boosted its gas production 23% to 358,921 Mcf/d while enjoying an 84% increase in its gas sale price to $8.03/Mcf. The company credited the new Rockies Express Pipeline for the ability to get its Rockies gas to higher priced markets. “With our capacity on REX, fully 50% of our estimated 2008 production is sold at non-Rockies’ prices,” CEO Michael Watford said. Platts Gas Daily, March 10, 2008. Small Rockies gas producer files for bankruptcy PRB Energy, “Our revenue stream has also been negatively impacted through the first nine months of the year as a result of downward pressure on our realized natural gas sales prices stemming from regional constraints in moving and selling our natural gas production in higher-demand markets.” The magnitude of the importance of natural gas in the overall severance tax picture would be difficult to overstate. Simply put, approximately two-thirds of the state’s [ PLATTS GAS DAILY, MONDAY, JUNE 20, 2005 The next 20 years will hold myriad challenges for energy companies seeking to develop new gas and oil reserves, including access limitations, a dwindling workforce and a shortage of investment dollars, industry executives said last week at The Economist’s Oil & Gas Roundtable in Houston. “We are without a doubt living in an energy-constrained world,” proclaimed Kathleen Sendall, Petro-Canada’s senior vice president for North Americas gas. “Today’s energy companies are running flat out to meet demand.” Robert Daniels, Anadarko Petroleum’s senior vice president of exploration and production, agreed with Sendall and blamed the tight supply/demand balance on “25 years of underinvestment [that] have left us in a supply crunch.” By Thomas Homer-Dixon and S. Julio Friedmann, The New York Times Relief isn't likely to come anytime soon from drilling elsewhere: Oil companies spent $8 billion on exploration in 2003, but discovered only $4 billion of commercially useful oil. Nuclear Power? A source that produces no greenhouse emissions. To meet the expected growth in total American energy demand over the next 50 years would require building 1,200 new nuclear power plants in addition to the current 104 - or one plant every two weeks until 2050. Solar power? To satisfy its current electricity demand using today's technology, the United States would need 10 billion square meters of photovoltaic panels; this would cost $5 trillion, or nearly half the country's annual gross domestic product. Hydrogen? To replace just America's surface transportation with cars and trucks running on fuel cells powered by hydrogen, America would have to produce 230,000 tons of the gas - or enough to fill 13,000 Hindenburg dirigibles - every day.
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