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Weekly Update
Wed, Oct 19th 2011 01:45 pm
The November gas futures contract is currently trading at $3.59, $0.11 lower than it settled Monday. The 12 month strip is trading at $3.96 /MMBtu and this year's winter strip (Nov 11 - Mar 12) is trading at $3.86/MMBtu.
Kinder Morgan buys El Paso
Kinder Morgan announced on Sunday that they were buying out El Paso for $21 Billion in Cash, and will assume nearly $17 Billion of their debt.
The deal makes Kinder Morgan the largest gas pipeline company in the United States with over 67,000 miles of pipeline.
Marcellus Update
The National Regulatory Research Institute (NRRI) released a report last week concerning hydraulic fracturing and how to better approach the situation.
Ken Costello, a principal at NRRI provided some great insight and powerful statements in the report, explaining the fine line between protecting the environment and growing the economy.
According to Costello, "Weighing all that we know today, the cost to the country from not exploiting its abundant shale-gas resources appears high in relation to the risk that increased fracking production poses."
(Natural Gas production has more than tripled in the NE over the past 3 years)
In regards to the numerous studies underway on the process, Costello asserts that "waiting for new evidence does not justify banning fracking or imposing major restrictions on shale-gas production."
