Apparently

Oilfield services giant Schlumberger Ltd. apparently is close to completing a transaction to buy Houston-based Smith International Inc., which is one of the largest drillbit producers in the world.

Oilfield services giant Schlumberger Ltd. apparently is close to completing a transaction to buy Houston-based Smith International Inc., which is one of the largest drillbit producers in the world.

Apparently it takes more than light weather-based demand and heavy storage inventory levels to faze the bullishness of cash traders lately. Even with prior-day futures support dropping to 2.3 cents Tuesday, the physical market managed to extend upticks at nearly all points Wednesday. Granted, Wednesday’s advance wasn’t nearly as strong as the one a day earlier, but the fact that it was achieved at all was somewhat impressive.

Predictions earlier this year of a flood of liquefied natural gas (LNG) that would hit U.S. shores apparently could have been uttered by Chicken Little, at least if Barclays Capital analysts are right about their expectation of relatively modest imports during the second half of 2009.

Predictions earlier this year of a flood of liquefied natural gas (LNG) that would hit U.S. shores apparently could have been uttered by Chicken Little, at least if Barclays Capital analysts are right about their expectation of relatively modest imports during the second half of 2009.

The natural gas liquids (NGL) market is apparently something like the weather. Don’t like it? Wait and it will change.

The natural gas liquids (NGL) market is apparently something like the weather. Don’t like it? Wait and it will change.

Traders were apparently expecting a larger natural gas storage build last week than the 21 Bcf addition reported Thursday morning by the Energy Information Administration (EIA) because May natural gas futures knee-jerked higher following the 10:30 a.m. EDT report. However, the contract ended the day on a lower note, closing out the regular session at $3.599, down 9.4 cents from Wednesday’s close.

Producers that operate in Colorado apparently were on a mission to secure drilling permits under the state’s “old” natural gas and oil rules, with a record number of permit applications filed in March, according to the Colorado Oil and Gas Conservation Commission (COGCC). New rules to drill on state lands took effect last week; the federal lands drilling revisions are to take effect in May.