2010

IntercontinentalExchange Inc. (ICE) will be imposing position and accountability limits on its Henry Hub over-the-counter (OTC) swaps contract, starting with the February 2010 contract, to conform with directives from the Commodity Futures Exchange Commission (CFTC) regarding contracts that perform a significant price discovery function (SPDF).

New Mexico’s coffers took a hit due to weak oil and gas prices during the first quarter of the state’s 2010 fiscal year as collections by the State Land Office declined $104 million from the year-ago period when $194 million was collected.

Colorado Republican Senate Minority Leader Josh Penry, who has indicated his plans to run for governor in 2010, and fellow Republican state Rep. Cory Gardner have asked the Colorado Oil and Gas Conservation Commission (COGCC) to extend the allowed time to hold a natural gas and oil drilling permit to provide “long-term certainty” for companies willing to invest in the state.

With little expectation for a near-term economic recovery, Royal Dutch Shell plc plans to cut its capital spending program by 10% in 2010, the CEO said Thursday. “Substantial” job reductions also are likely, which would be on top of the recent 20% cut in senior management jobs.

With little expectation for a near-term economic recovery, Royal Dutch Shell plc plans to cut its capital spending program by 10% in 2010, the CEO said Thursday. “Substantial” job reductions also are likely, which would be on top of the recent 20% cut in senior management jobs.

The inflection point in U.S. gas market fundamentals likely will be realized this month, with the market increasingly undersupplied through the spring of 2010, energy analysts said last week.

The inflection point in U.S. gas market fundamentals likely will be realized this month, and the market will become increasingly undersupplied through the spring of 2010, energy analysts said Wednesday.

If the U.S. natural gas rig count this year remains at around 700 and Canada has about 50 gas rigs running, North American gas production by early 2010 “will be 10% lower and headed south pretty quickly,” Chesapeake Energy Corp. CEO Aubrey McClendon said last Tuesday.

If the U.S. natural gas rig count this year remains at around 700 and Canada has about 50 gas rigs running, North American gas production by early 2010 “will be 10% lower and headed south pretty quickly,” Chesapeake Energy Corp. CEO Aubrey McClendon said Tuesday.