Conceded

The oil and natural gas industry can breathe easier — at least for the time being — now that the joint House-Senate super committee has conceded defeat in reaching a bipartisan agreement to cut the federal deficit.

The oil and natural gas industry can breathe easier — at least for the time being — now that the joint House-Senate super committee has conceded defeat in reaching a bipartisan agreement to cut the federal deficit.

EQT Corp. CEO David Porges said the company was “off to a good start” in 2011, but he conceded that more work needed to be done to satisfy shareholders and to meet its strategic challenges.

EQT Corp. CEO David Porges said the company was “off to a good start” in 2011, but he conceded that more work needed to be done to satisfy shareholders and to meet its strategic challenges.

The oil and natural gas industry lost a strong advocate last Tuesday when incumbent Sen. Lisa Murkowski (R-AK) conceded Alaska’s Republican primary to Tea Party-backed candidate Joe Miller.

Chevron Corp. executives told told financial analysts last Tuesday that the company would increase its production by 3% per year and that spending on exploration and production would remain strong in the coming years. In the years ahead, natural gas will account for a greater share of Chevron’s production portfolio as the company strives to be a leader in increasingly globalized gas markets.

Chevron Corp. executives told told financial analysts Tuesday that the company would increase its production by 3% per year and that spending on exploration and production would remain strong in the coming years. In the years ahead, natural gas will account for a greater share of Chevron’s production portfolio as the company strives to be a leader in increasingly globalized gas markets.

As weather forecasts remained chilly, traders on Tuesday conceded weather-driven natural gas futures price momentum to the bulls as the February contract traded higher for a fourth consecutive session. After carving out a high of $7.600, the prompt month settled at $7.597, up 27.8 cents on the day and $1.363 higher than last Wednesday’s $6.234 close.

Duke Energy didn’t have the kind of quarter it would have liked, management conceded, as lower gas prices, plant outages and higher operating expenses crimped results.