Cash natural gas prices skidded overall an average of 10 cents Monday as forecasts for mild temperatures and weakening power prices kept buyers at bay. Northeast points were particularly hard hit, but eastern and Great Lakes locations were also pummeled. At the close of trading January futures had managed a gain of 3.0 cents to $3.591 and February had risen 3.1 cents to $3.615. January crude oil added 18 cents to $89.09/bbl.
Articles from Buyers
Physical natural gas prices on average lost a whopping 36 cents Friday as the normal reluctance of buyers to commit to weekend gas was compounded by a weak screen, near-record gas in inventories, forecast warmth for the upcoming week in major energy markets and reports of ever-higher domestic production.
Since last year, gas supplies are higher, prices are lower, the forward curve is friendlier to buyers, but winter is still a wild card, FERC staff told the Commission last Thursday during the Winter 2012-2013 Energy Market Assessment presentation.
Since last year, gas supplies are higher, prices are lower, the forward curve is friendlier to buyers, but winter is still a wild card, FERC staff told the Commission Thursday during the Winter 2012-2013 Energy Market Assessment presentation.
Chesapeake Energy Corp. is looking for buyers for some land in Western Oklahoma’s emerging Granite Wash and Hogshooter plays, according to Meagher Energy Advisors.
Cash markets overall swan-dived an average 17 cents Friday as the usual suspects of an uninspired corps of weekend buyers joined forces with a mild weather outlook and a weak screen to send weekend and Monday gas sharply lower.
Physical prices rose overall on average by about 12 cents Thursday as buyers reported stout power burn requirements. Gains were widespread with West Coast power requirements advancing and the only weakness shown by a handful of Northeast locations.
Saying it has put last year’s Gulf of Mexico (GOM) deepwater well blowout with BP plc behind them, Anadarko Petroleum Corp. senior officials Tuesday tried to look past third quarter red ink to what they consider hot domestic shale and African liquefied natural gas (LNG) prospects.
Chevron Corp., which had eschewed domestic shale plays in favor of the deepwater, on Tuesday reversed course, agreeing to pay a total of $4.3 billion to acquire Atlas Energy Inc.’s million-acre-plus U.S. shale leasehold.