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EIA Expects Production Decline in Marcellus Shale

“Natural gas production in the Marcellus shale, which has grown over the past decade from next to nothing to the source of about a fifth of U.S. output, may decline for the first time if prices in the basin remain low for much longer, according to federal government data,” Reuters is reporting.

“Such a reduction may be worrisome since the United States is counting on the Marcellus to continue producing vast amounts of cheap gas needed to meet growing demand from industrial customers and power generators, and to enable the country to transition into a net gas exporter by 2017.”

NRC Faults Valve Failure in Pilgrim Nuclear Plant Shutdown

According to a just released report from the Nuclear Regulatory Commission (NRC), Pilgrim Nuclear Power Station in Plymouth, MA was taken offline during a blizzard last January because one of four safety relief valves failed to open while reducing reactor pressure during the cool-down process.

“Inspectors said plant owner-operator Entergy could have prevented that issue if it addressed a valve problem that dated back to a shutdown during a February 2013 storm,” The Cape Cod Times reports. A spokesman for the plant said “four new safety relief valves were installed during a recent refueling and refitting of the reactor.” 

PwC on the Future of Canada’s Oil and Gas Industry

Today at its sixth annual Energy Visions Business Forum in Calgary, Alberta, PwC released Compete, Survive or Prosper? The report combines insights from interviews with numerous Canadian oil and gas industry experts to examine Canada’s prospects to endure the current industry realities. Experts reflected on the global situation, market access, economics, costs and productivity, as well as technology and innovation.

In this new environment, industry experts expect that prices will remain volatile for the next couple of years. Fortunately, the long lead times of Alberta heavy oil projects will contribute to overall production for the next few years, despite low prices. However, a number of issues continue to constrain the industry, including restricted market access, higher production costs, availability of labor and global competition.

Texas Storms Shut Wells and Fuel Rack, Plants Unscathed

“Storms have slammed Texas, home to the most oil-refining capacity in the U.S., with more than 10 in. of rain, flooding homes and freeways and halting bus and rail service. More than one-third of the nation’s oil production is in Texas,” Bloomberg reports.

“The production shut-ins are going to be temporary,” said Andy Lipow, president of Lipow Oil & Associates in Houston. “The flooding on the roads and bayous are bad, but the Houston-area refineries don’t appear to be impacted.”

U.S. Chemical Production Flat in April; Up 4.4% Over One Year Ago

According to the American Chemistry Council (ACC), the U.S. Chemical Production Regional Index (U.S. CPRI) was flat in April, as measured on a three-month moving average (3MMA). This followed an upwardly revised flat growth rate in March and a 0.2% gain in February. Also measured on a 3MMA basis, chemical production by segment was mixed.

Compared to April 2014, total chemical production in all regions was ahead by 4.4% on a year-over-year basis, a slowing comparison. Chemical production remained ahead of year ago levels in all regions.

New Products

 

Valve Magazine Digital Edition

15 SPR CVRInside the Spring 2015 issue…

• Heavy Oil
• 3D Printing Gains Momentum
• Restoring Power After Sandy
• What is a Surplus Valve?

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