Briefly

A bill to legalize and begin regulating hydraulic fracturing (fracking) passed the North Carolina House of Representatives on Thursday. It will return briefly to the state Senate before being sent to Gov. Bev Perdue for her signature.

A man who worked briefly for a company that built a natural gas pipeline in Lycoming County, PA, for Chief Oil and Gas LLC has pleaded guilty to damaging the pipeline after the construction company fired him, according to the U.S. Attorney’s Office for the Middle District of Pennsylvania.

The Pennsylvania state Senate met briefly Tuesday before adjourning until Jan. 17, but it did not discuss legislation to impose a fee on unconventional natural gas drilling. Until the Senate takes action on House Bill 1950 the legislation cannot proceed to a conference committee for a process where members of both chambers and both parties will hammer out differences. Although current lawmakers are in office until November, many have urged the General Assembly to pass something before Gov. Tom Corbett announces his budget priorities in early February. The six-member committee would include three senators and three representatives, with two members of each chamber coming from the majority party and one coming from the minority.

September natural gas futures briefly rallied Thursday following the release of seemingly supportive inventory data but quickly reversed and ended up in the loss column. September futures fell 14.3 cents to $3.336 and October lost 9.4 cents to $3.673. September crude oil rose 36 cents to $70.52/bbl.

August natural gas futures continued lower Friday and ventured briefly below $9 for a second consecutive session before closing at $9.084, down 23.9 cents from Thursday and $1.486 lower than the previous week’s finish. Despite the month-long plunge, some traders are noticing some significant buying efforts as people attempt to bargain hunt.

If you don’t like the direction of the natural gas futures market, wait five minutes and it is likely to change. Proving once again that the market can be volatile, the December contract on Monday bounced higher after testing below the $7.00 support area in early trading.

If you don’t like the direction of the natural gas futures market, wait five minutes and it is likely to change. Proving once again that the market can be volatile, the December contract on Monday bounced higher after testing below the $7.00 support area in early trading.

Long-awaited Senate action on comprehensive energy legislation, which appeared briefly on the floor last Friday, is expected to spark a lengthy and contentious debate in the lower chamber when it re-emerges after the week-long Presidents Day recess.

Long-awaited Senate action on comprehensive energy legislation, which appeared briefly on the floor last Friday, is expected to spark a lengthy and contentious debate in the lower chamber when it re-emerges after the week-long Presidents Day recess.