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Natural Gas

Natural Gas is a highly flammable hydrocarbon consisting primarily of methane and ethane. It is a type of petroleum that commonly occurs in association with crude oil. Natural gas is often found dissolved in oil at the high pressures existing in a reservoir, and it also can be present as a gas cap above the oil. Such natural gas is known as associated gas.  Show more »
Natural Gas is a highly flammable hydrocarbon consisting primarily of methane and ethane. It is a type of petroleum that commonly occurs in association with crude oil. Natural gas is often found dissolved in oil at the high pressures existing in a reservoir, and it also can be present as a gas cap above the oil. Such natural gas is known as associated gas.  « Show less

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    Apr 23, 2012 |Story| AP Broadcast

  1. ConocoPhillips 1Q Profit Drops 3 Pct

    ConocoPhillips said Monday that its first-quarter profit dropped 3 percent due to a decline in production following the sale of billions of dollars of oil fields and other assets.The Houston company reported earnings of $2.94 billion, or $2.27 per share, from January to March. That compares with $3.03 billion, or $2.09 per share, in the same part of 2011. Revenue was flat at $58.4 billion.Excluding special items, ConocoPhillips said adjusted earnings were $2.02 per share. Analysts, who typically exclude special items, were expecting earnings of $2.08 per share on revenue of $60 billion, according to FactSet.ConocoPhillips has shed more than $20 billion in assets since 2010 as part of a plan to split into separate companies. One company will keep the ConocoPhillips name and focus on exploration and production. The other company, Phillips 66, will specialize in refineries and pipelines.CEO Jim Mulva will retire following the split on May 1.With fewer producing assets, ConocoPhillips' oil and natural gas production dropped by 3.8 percent to 1.64 million barrels of oil equivalent per day in the first quarter. The company's oil platforms also were temporarily suspended off the coast of China because of an oil spill.The company sold crude oil for higher prices in the quarter, but natural gas prices declined.ConocoPhillips' refineries also sold less gasoline, diesel and other petroleum products in the period. Total refining sales dropped by 11.2 percent. Refining profit fell by 6.2 percent overall. Its midstream business, which includes pipelines, increased profits 27.4 percent, and its chemicals business boosted profits by 13 percent.Shares fell by 81 cents to $72.07 in morning trading.NEW YORK (AP) - ConocoPhillips said Monday that its first-quarter profit dropped 3 percent due to a decline in production following the sale of billions of dollars of oil fields and other assets.The Houston company reported earnings of $2.94 billion, or $2.27 per share, from January to March. That compares with $3.03 billion, or $2.09 per share, in the same part of 2011. Revenue was flat at $58.4 billion.Excluding special items, ConocoPhillips said adjusted earnings were $2.02 per share. Analysts, who typically exclude special items, were expecting earnings of $2.08 per share on revenue of $60 billion, according to FactSet.ConocoPhillips has shed more than $20 billion in assets since 2010 as part of a plan to split into separate companies. One company will keep the ConocoPhillips name and focus on exploration and production. The other company, Phillips 66, will specialize in refineries and pipelines.CEO Jim Mulva will retire following the split on May 1.With fewer producing assets, ConocoPhillips' oil and natural gas production dropped by 3.8 percent to 1.64 million barrels of oil equivalent per day in the first quarter. The company's oil platforms also were temporarily suspended off the coast of China because of an oil spill.The company sold crude oil for higher prices in the quarter, but natural gas prices declined.ConocoPhillips' refineries also sold less gasoline, diesel and other petroleum products in the period. Total refining sales dropped by 11.2 percent. Refining profit fell by 6.2 percent overall. Its midstream business, which includes pipelines, increased profits 27.4 percent, and its chemicals business boosted profits by 13 percent.Shares fell by 81 cents to $72.07 in morning trading.
    Channel 2 News
    ConocoPhillips said Monday that its first-quarter profit dropped 3 percent due to a decline in production following the sale of billions of dollars of oil fields and other assets.The Houston company reported earnings of $2.94 billion, or $2.27 per share,...

    Tags: Natural Resources, Gasoline Industry, Petroleum Industry, Energy Resources, Economy, Business and Finance

    2. Mar 21, 2012 |Story| AP Alaska

  2. Alaska Well Blowout: Repsol Seals, Abandons North Slope Well

    Crews in Alaska's North Slope have capped a well with cement after a blowout in February.
    Annie Feidt, Alaska Public Radio Network
    Crews in Alaska's North Slope have capped a well with cement after a blowout in February.     Alaska Public Radio Network reports (http://bit.ly/GzVywn) the well was sealed Sunday.     After cold weather caused difficulties getting the well under...

    Tags: Natural Resources, Energy Resources, Environmental Issues

    3. Mar 22, 2012 |Story| KTUU

  3. Dueling Pipelines: The Debate Over In-State Natural Gas

    In Juneau, a debate is raging about an in-state natural gas pipeline. In fact, that debate is raging not just about one pipeline, but two. And neither of them exists yet.
    Channel 2 News
    In Juneau, a debate is raging about an in-state natural gas pipeline. In fact, that debate is raging not just about one pipeline, but two. And neither of them exists yet. For much of the week, representatives have been taking public testimony on House...

    Tags: Natural Resources, Energy Resources, Super Bowl, U.S. Geological Survey, Sean Parnell

    4. Mar 26, 2012 |Story| KTUU

  4. As Lawmakers Consider In-State Gas Line, Canadians Offer Alternative

    On the eve of what's expected to be an intense state House debate on a proposed in-state natural gas pipeline, a group of Canadians visited Juneau to remind state officials that they're standing by to help with an alternate route through Canada.
    Channel 2 News
    On the eve of what's expected to be an intense state House debate on a proposed in-state natural gas pipeline, a group of Canadians visited Juneau to remind state officials that they're standing by to help with an alternate route through Canada. The...

    Tags: Natural Resources, Petroleum Industry, Energy Resources, Justice System, U.S. Geological Survey

    5. Feb 20, 2012 |Story| AP Alaska

  5. Repsol Well Blowout: Cleanup Prep Continues at North Slope Site

    Alaska environmental regulators say cleanup preparations continue at the site of an exploratory well blowout on Alaska's North Slope.        
    Channel 2 News
    Alaska environmental regulators say cleanup preparations continue at the site of an exploratory well blowout on Alaska's North Slope.         The state Department of Environmental Conservation says crews Sunday began clearing ice and drilling fluid...

    Tags: Natural Resources, Energy Resources, Environmental Issues

    6. Dec 5, 2011 |Story| AP Alaska

  6. Donlin Gold Project Releases Feasibility Study

    A Canadian company says a gold prospect in southwest Alaska is ready to advance to permitting.
    Channel 2 News
    A Canadian company says a gold prospect in southwest Alaska is ready to advance to permitting. NovaGold Resources Inc. says its updated feasibility study shows a reduction in previously anticipated capital costs, and underscores the benefit of using...

    Tags: Natural Resources, Energy Resources, NovaGold Resources Incorporated, Research, Environmental Issues

    7. Feb 1, 2012 |Story| AP Alaska

  7. Enstar Parent Company Sold to Canada's AltaGas

    Enstar parent company SEMCO Energy has been sold to Canada’s AltaGas, which has agreed to pay more than $1.1 billion to acquire natural gas businesses in Alaska and Michigan.
    Enstar parent company SEMCO Energy has been sold to Canada’s AltaGas, which has agreed to pay more than $1.1 billion to acquire natural gas businesses in Alaska and Michigan. AltaGas says the firms are a good fit with its own assets and part of a...

    Tags: Natural Resources, Energy Resources, Companies and Corporations, Economy, Business and Finance, Companies and Corporations

    8. Jan 24, 2012 |Story| KTUU

  8. New In-State Natural Gas Pipeline Legislation Introduced in Juneau

    Two Republican lawmakers introduced new legislation Tuesday to push an in-state natural gas pipeline.
    Channel 2 News
    Two Republican lawmakers introduced new legislation Tuesday to push an in-state natural gas pipeline. House Speaker Mike Chenault (R-Nikiski) and Rep. Mike Hawker (R-Anchorage) have introduced the legislation that would, in part, turn three current...

    Tags: Natural Resources, Energy Resources, U.S. Senate, Mike Chenault, Natural Resources

    9. Jan 5, 2012 |Story| KTUU

  9. Exxon Mobil Corp, BP and ConocoPhillips Agree Asia May Be the Best Market for Alaska's Natural Gas

    A new chapter may have begun in Alaska’s decade-long saga to bring North Slope gas to market.  Governor Sean Parnell met on Thursday with the heads of the state’s three major oil and gas producers:  Exxon Mobil’s Rex Tillerson, BP’s Bob Dudley and ConocoPhillips’ Jim Mulva.
    A new chapter may have begun in Alaska’s decade-long saga to bring North Slope gas to market.  Governor Sean Parnell met on Thursday with the heads of the state’s three major oil and gas producers:  Exxon Mobil’s Rex Tillerson, BP’...

    Tags: TransCanada Corporation, Petroleum Industry, Companies and Corporations, Economy, Business and Finance, Bob Dudley

    10. Jan 5, 2012 |Story| KTUU

  10. Oil Executives Meet With Parnell At Downtown Luncheon

    Oil executives with several firms operating in Alaska met with Gov. Sean Parnell at the Dena'ina Center in Downtown Anchorage Thursday for a noon luncheon hosted by Exxon Mobil Corp.
    Channel 2 News
    Oil executives with several firms operating in Alaska met with Gov. Sean Parnell at the Dena'ina Center in Downtown Anchorage Thursday for a noon luncheon hosted by Exxon Mobil Corp. Chief executives at the high-security, invitation-only event included...

    Tags: TransCanada Corporation, Politics, Energy Resources, Petroleum Industry, Bob Dudley

    11. Jan 4, 2012 |Story| AP Alaska

  11. Gov. Sean Parnell Expected To Meet With Oil CEOs

    Gov. Sean Parnell is expected to meet with the chief executives of the big three North Slope energy producers Thursday.
    The Associated Press
    Gov. Sean Parnell is expected to meet with the chief executives of the big three North Slope energy producers Thursday. This comes three months after Parnell proposed a meeting, saying it's time that the major North Slope players -- including the state...

    Tags: Politics, Energy Resources, Bob Dudley, Natural Resources, Corporate Officers

    12. Jan 2, 2012 |Story| KTUU

  12. Alaska Federal Pipeline Coordinator's Budget Slashed

    One federal program comes into the New Year very much scaled down. The budget for the Alaska natural gas pipeline coordinator’s office was slashed by $3 million.
    Channel 2 News
    One federal program comes into the New Year very much scaled down. The budget for the Alaska natural gas pipeline coordinator’s office was slashed by $3 million. In the appropriations bill that President Obama signed last month, the office received...

    Tags: Natural Resources, TransCanada Corporation, Government, Politics, Budgets and Budgeting

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