Ballooned

Output from the nation’s shale plays has ballooned domestic natural gas production over the past few years, but the industry, and the country, have yet to fully embrace all that the paradigm shift entails, said Rick Smead, a director in Navigant Consulting Inc.’s energy practice.

Researchers from Cleveland State University (CSU) said Ohio counties with significant Marcellus and Utica shale development have seen only a modest increase in job creation in 2012, but those same counties also saw a large increase in retail sales.

North American margins for Halliburton Co. likely have been impacted “more than anticipated” in the second quarter because of the increased cost of guar gum, an additive used in hydraulic fracturing fluids, the oilfield services company said late Wednesday.

Natural gas cash point averages across the country ballooned on Monday as a storm that brought multiple feet of snow as well as temperatures in the teens to the Midwest moved toward eastern markets. Most points across the country for Tuesday delivery climbed between a dime and 20 cents, while some spots in the Northeast shot higher by $7 to $11.

CenterPoint Energy Inc. said its expected costs for restoration efforts following Hurricane Ike have ballooned to $650-750 million from its preliminary estimate of $350-500 million in late September (see NGI, Sept. 29).