Bank

Though optimistic about prospects for stronger long-term natural gas prices, Deutsche Bank on Friday reduced its outlook for 2012 U.S. prices because the domestic market is “still very loose” and industrial demand hasn’t taken up the slack.

Despite “a major supply glut,” the natural gas-directed rig count has crept up, and oil-focused drilling in shale plays also is yielding natural gas, so analysts at Bank of America Merill Lynch (BofA) have raised their 2012 forecast for production growth and cut their price forecast.

Despite “a major supply glut,” the natural gas-directed rig count has crept up, and oil-focused drilling in shale plays also is yielding natural gas, so analysts at Bank of America Merill Lynch (BofA) have raised their 2012 forecast for production growth and cut their price forecast.

Kodiak Oil & Gas Corp. said Wednesday it has agreed to purchase 13,500 net acres in the Bakken Shale play from an undisclosed private oil and gas company for about $235 million in cash. It also agreed to assume the terms of a contract for its sixth drilling rig.

Solid reasons exist for bulls not to be discouraged by the current “pricing malaise” in U.S. natural gas markets, according to Deutsche Bank (DB).

Solid reasons exist for bulls not to be discouraged by the current “pricing malaise” in U.S. natural gas markets, according to Deutsche Bank (DB).

Despite reporting a $16.3 million net loss for 2010, Magnum Hunter Resources Corp. believes that recent and pending acquisitions could help the company more than triple production, allowing it to compete with bigger companies in three major shale plays.

San Diego-based Sempra Energy and the Royal Bank of Scotland (RBS) last Thursday said they have sold “most” of the remaining assets in their joint venture trading operation, RBS Sempra Commodities, to JP Morgan Ventures Energy Corp., a unit of JP Morgan Chase & Co. The sale price is approximately $220 million, the partners said.

San Diego-based Sempra Energy and the Royal Bank of Scotland (RBS) on Thursday said they have sold “most” of the remaining assets in their joint venture trading operation, RBS Sempra Commodities, to JP Morgan Ventures Energy Corp., a unit of JP Morgan Chase & Co. The sale price is approximately $220 million, the partners said.