Amazing

Pennsylvania’s General Assembly moved with amazing speed in the closing days of June to install a drilling moratorium on upscale, ex-urban Philadelphia counties, attaching the provision in a must-pass budget measure (SB 1263) that Gov. Tom Corbett signed July 2.

Pennsylvania’s General Assembly moved with amazing speed late last week to install a drilling moratorium on upscale, ex-urban Philadelphia counties, attaching the provision in a must-pass budget measure (SB 1263) that Gov. Tom Corbett is expected to sign.

The cash market once again displayed amazing resilience in achieving increases — most of them fairly substantial — at all points Friday. In doing so, it swam against the negative tide of milder weather returning to key northern market areas, prior-day screen weakness, a highly bearish storage situation and the usual decline of industrial load over a weekend.

Robert S. Boswell, architect of Forest Oil Corp.’s amazing growth as the independent increased its North American reserves five-fold and raised its equity value from less than $50 million to more than $1 billion in recent years, announced his resignation last week as CEO. He will retire as chairman and director at the end of September.

Robert S. Boswell, architect of Forest Oil Corp.’s amazing growth as the independent increased its North American reserves five-fold and raised its equity value from less than $50 million to more than $1 billion in recent years, announced Thursday he would resign as CEO immediately and retire as chairman and director at the end of September.

The gas futures market had one of its more amazing weeks with an enormous upswing that shot April futures from a low of $2.290 the week prior, all the way up to last week’s high on Thursday of $2.820. On Friday, April prices inched up 4 cents to close out the week at an even $2.800/MMBtu. Despite the strong rally, however, some observers see overbought conditions leading to a pullback; it’s just a question of how much and for how long.