Boosting

Low natural gas prices didn’t deter U.S. operators from boosting upstream spending in 2012, according to data compiled by Ernst & Young.

Goldman Sachs on Friday joined two other analyst houses in boosting U.S. natural gas price forecasts, recommending that investors position themselves for “higher prices over the course of 2013.” The gas rig count also is predicted to surpass the 500 mark by the end of the year.

Small gains at most points Tuesday turned into small losses at most points Wednesday as still-hot weather in many areas lost its price-boosting impact with some cooler temperatures looming down the road for some regions.

Calgary-based Ensign Energy Services Inc. is boosting its services in the U.S. onshore through an agreement to acquire Rowan Cos. Inc.’s land drilling division for US$510 million in cash.

The persistently sharp contrast between expensive oil and cheap gas has had dramatic effects on Western Canadian drilling, boosting activity and accelerating a trend to targeting oil rather than gas.

British Columbia’s (BC) natural gas industry this year saw more investment, increased market share and more wells drilled, boosting the province’s economic recovery, according to the BC Ministry of Energy.

British Columbia’s (BC) natural gas industry this year saw more investment, increased market share and more wells drilled, boosting the province’s economic recovery, according to the BC Ministry of Energy.

U.S. exploration and production (E&P) companies that have taken a shine to the oily shale plays are boosting their capital expenditures (capex) in 2011, while the gas-focused shale operators are reining in the spending, according to a survey by Barclays Capital.

The attack of very cold weather that gave a strong price-boosting start to the cash market as the week began lost quite a bit of its bullish influence Tuesday. Even the previous day’s prompt-month futures gain of 13.9 cents and the lingering effect of widespread freezing lows were unable to keep cash numbers from mixed movement and staying close to either side of flat.