The cash market on average fell around a nickel Tuesday with pervasive weakness seen in all sections of the country. The Midwest was weak, but isolated gains were noted at Northeast points. East and Rockies locations fell. At the close of futures trading, December had risen 11.3 cents to $3.832 and January had gained 10.7 cents to $3.944. January crude oil tumbled $2.53 to $86.75/bbl on hints of a break in Middle East fighting.
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The “unexpected expansion” of natural gas markets around the world from growing unconventional resources and a combination of industry changes, will require an “epic” response by the industry to grow and prosper, according to think tank Chatham House.
The “unexpected expansion” of natural gas markets around the world from growing unconventional resources and a combination of industry changes, will require an “epic” response by the industry to grow and prosper, according to UK-based think tank Chatham House.
Local government officials from around Colorado took a swipe at Gov. John Hickenlooper for suing the city of Longmont, CO, to turn back its ordinance establishing natural gas and oil drilling regulations within its boundaries. The state maintains exclusive jurisdiction in this area under the Colorado Oil and Gas Conservation Commission (COGCC).
Eagle Ford Oil & Gas Corp. has been watching the producer activity around its more than 3,600 acres in Frio County, TX, and is working to raise capital by the end of the year to start drilling some wells of its own, the company said Wednesday.
It has been around for more than 30 years, long before the state’s current oil/gas boom, but North Dakota’s six months of confidentiality provided new wells is taking on greater interest in the midst of the competitive exploration and production (E&P) push throughout the industry.
Rebounding from a weak finish to the previous week, a majority of physical natural gas points around the country on Monday moved higher from a nickel to nearly 15 cents. The cash market might be able to keep the upward momentum rolling for another day if traders are swayed by the futures action Monday, which saw September gas climb 5.7 cents to close the regular session at $2.776.