The Marcellus Shale Coalition (MSC) has elected a top Chesapeake Energy Corp. executive to lead the industry coalition into 2012.
Billings
Articles from Billings
Natural Gas Price Forecasts Turn South
With storage building and natural gas prices no longer surging, Friedman, Billings, Ramsey & Co. Inc. (FBR) joined a growing chorus of energy analysts in trimming its forecast for U.S. gas prices for the next two years to reflect the “impending flood of shale gas.”
Natural Gas Price Forecasts Beginning to Fall
Friedman, Billings, Ramsey & Co. Inc. (FBR) has trimmed its forecast for U.S. natural gas prices for the next two years to reflect the “impending flood of shale gas.”
Montana CBM Water Standards Upheld
A state district court judge in Billings, MT, upheld state water quality standards that had been challenged by coalbed methane (CBM) producers. Conservation groups claimed “a major legal victory” while at least one producer said it was in compliance and no changes to operations would be necessary.
Montana CBM Water Standards Upheld
A state district court judge in Billings, MT, upheld state water quality standards that had been challenged by coalbed methane (CBM) producers. Conservation groups claimed “a major legal victory” while at least one producer said it was in compliance and no changes to operations would be necessary.
Industry Brief
The Montana/Dakotas Bureau of Land Management (BLM) will offer 337,869 acres of federal land in an oral oil and gas lease auction on July 31 at the BLM Montana State Office in Billings. The sale involves 197 parcels totaling 337,869 acres. Montana parcels are located in Pondera, Garfield, Carbon, Powder River, Carter, McCone and Richland counties. North Dakota parcels are located in Divide, Burke, Mountrail, McKenzie, Bowman, Ward and Williams counties. Leases are for a primary term of 10 years and “will continue beyond the primary term as long as the lease is producing in paying quantities or receiving production from another source.” The complete list of parcels is available on the Montana/Dakotas BLM website, http://www.blm.gov/mt/st/en.html. Protests of the July 31 lease auction are due at the BLM Montana State Office by 4 p.m. on July 16. The BLM has tentatively scheduled its next lease auction for Oct. 9.
Analysts Reduce ’07 Gas Prices but Still Bullish Going Forward
Friedman, Billings, Ramsey & Co. (FBR) last week said it remains “bullish on 2007 in aggregate” because of unforeseen events such as weather, but analysts still cut their 2007 natural gas price forecast to $7.60/Mcf from $8 and reduced their 2Q2007 gas benchmark assumption to $7.20/Mcf from $8. A.G. Edwards, & Sons Inc., meanwhile, said temporary shifts in gas prices because of weather and other events are to be expected, but prices likely will range around $7.75/Mcf in 2007 and $7.50 in 2008.
FBR Cuts ’07 Gas Prices, Reduces 2Q Benchmark
Although it remains “bullish on 2007 in aggregate,” Friedman, Billings, Ramsey & Co. Inc. (FBR) on Monday cut its 2007 natural gas price forecast to $7.60/Mcf from $8 and reduced its 2Q2007 gas benchmark assumption to $7.20/Mcf from $8.
FBR Cuts Integrated Producers’ Estimated 4Q Earnings by 6%
Slightly lower-than-expected oil and natural gas prices and “largely negative” interim updates led energy analysts with Friedman, Billings, Ramsey & Co. Inc. (FBR) to reduce their 4Q2006 earnings forecasts on the integrated producers by 6%. The quarterly forecasts are now 13% below consensus expectations, FBR noted.
Should Strip Continue to Slip, Look for Spending Dip
In talks with executives from nine exploration and production (E&P) companies, analysts at Friedman, Billings, Ramsey & Co. Inc. found that the drop in commodity prices is “being taken in stride but caution abounds.”