Brought

The era of low prices and gas shale play abundance has forced exploration and production (E&P) companies to focus more intently on cost control and has brought independents and majors together as they develop North America’s natural gas factory, an analysis by Deloitte has found.

The era of low prices and gas shale play abundance has forced exploration and production (E&P) companies to focus more intently on cost control and has brought independents and majors together as they develop North America’s natural gas factory, an analysis by Deloitte has found.

September natural gas futures managed to gain ground Thursday as a somewhat supportive inventory report brought buyers off the bench, and the resulting price response began to frame a positive technical picture.

The three-day decline in natural gas futures was brought to a halt on Wednesday as traders took stock of the market’s current position while focusing on Thursday’s fresh storage inventory data and the real possibility that the Gulf of Mexico could be staring at Hurricane Alex early next week.

Repsol last week brought online the first liquefied natural gas (LNG) liquefaction plant in South America in Pampas Melchorita, about 105 miles south of Lima, Peru. The plant, which is part of the Peru LNG project, represents an investment of US$3.8 billion, the biggest investment ever made in one project in the history of Peru, according to Repsol.

The weekend brought news of some success in BP plc’s efforts to control the amount of oil flowing into the Gulf of Mexico (GOM) from a well blowout that occurred nearly a month ago.

Lower 48 natural gas production fell by about 2%, or 1.39 Bcf/d, in September from August due to a combination of plant maintenance, repairs and shut-ins brought on by depressed gas prices, according to the Energy Information Administration’s (EIA) 914-data released last Monday. On the demand side, the power generation sector offered about the only bright spot for gas.

Lower 48 natural gas production fell by about 2%, or 1.39 Bcf/d, in September from August due to a combination of plant maintenance, repairs and shut-ins brought on by depressed gas prices, according to the Energy Information Administration’s 914-data released Monday.

The U.S. Supreme Court is scheduled to hear oral arguments next month in a case that could have far-reaching ramifications for the sanctity of electricity and natural gas contracts.