Advances

The cash market Friday played catch-up to the 18-cent screen advances seen Thursday and added 16 cents on average for weekend and Monday gas. All points posted gains. Moderate Friday temperatures in the East and Northeast were forecast to give way to cooler readings and New England and East points led the charge higher. May was able to hold on to Thursday’s meteoric advance and added 0.7 cent to $4.408 and June gained 0.5 cent to $4.437. May crude oil gained 28 cents to $88.01/bbl.

Wyoming Gov. Matt Mead last week signed into law advances to use natural gas for transportation in a state rich in gas reserves.

The push to put more compressed natural gas (CNG) into the U.S. alternative transportation fuel mix has gained momentum in recent weeks with advances in vehicle equipment, model certification and in the local political arena.

Domestic proved oil and natural gas reserves achieved record annual volumetric increases in 2010, thanks in large part to advances in drilling technology, according to a report released by the Energy Information Administration (EIA) last Wednesday.

Domestic proved oil and natural gas reserves achieved record annual volumetric increases in 2010, thanks in large part to advances in drilling technology, according to a report released by the Energy Information Administration (EIA) Wednesday.

Domestic proved oil and natural gas reserves achieved record annual volumetric increases in 2010, thanks in large part to advances in drilling technology, according to a report released by the Energy Information Administration (EIA) Wednesday.

The energy industry — thanks to advances in drilling and production techniques resulting in growing natural gas and oil supplies — can lift the U.S. economy out of its doldrums, but only if government regulation and permitting requirements don’t get in the way, speakers at a recent industry conference in Houston said.

Spot natural gas made it three straight days of advances Wednesday as attractive storage differentials at some Western points, along with cooler weather, prompted buying in most regions of the country. A handful of Northeast locations were the exception as the posted double-digit drops, mostly between a dime and 30 cents. At the close of futures trading May had fallen 4.6 cents to $2.141 and June had skidded 5.1 cents to $2.267. May crude oil tumbled $2.54 to $101.47/bbl.

The energy industry — thanks to advances in drilling and production techniques resulting in growing natural gas and oil supplies — can lift the U.S. economy out of its doldrums, but only if government regulation and permitting requirements don’t get in the way, speakers at a recent industry conference in Houston said.