Consecutive

Apache Corp. is off to “fast start” in 2010 with eight consecutive successful wells in the Gulf of Mexico and plans in place to begin developing some of its big prospects onshore in North America, CEO G. Steven Farris said Thursday.

Apache Corp. is off to “fast start” in 2010 with eight consecutive successful wells in the Gulf of Mexico, CEO G. Steven Farris said Thursday.

Apache Corp. is off to “fast start” in 2010 with eight consecutive successful wells in the Gulf of Mexico, CEO G. Steven Farris said Thursday.

After recording consecutive new lows on Wednesday and Thursday, the December natural gas futures contract on Friday halted the streak and pushed higher. The prompt-month contract — which terminates on Tuesday — recorded a high of $4.442 before closing Friday’s regular session at $4.424, up 8.2 cents from Thursday’s finish and 3.2 cents north of the previous week’s close.

While funds appear to be exiting some of their short positions, November natural gas futures on Monday recorded their fourth consecutive drop in values. The prompt-month contract reached a low of $4.467 just after noon EDT before closing out the regular session at $4.513, down 27.4 cents from Friday’s finish.

With traders playing it close to the vest for the second consecutive session, November natural gas futures on Wednesday followed up Tuesday’s 4.5-cent advance with a 3.4-cent decline to $4.841.

Despite strong Wednesday morning trade, which made it seem that the natural gas futures rally would last a third consecutive session, the October contract hit its peak just before noon before trailing lower for the remainder of the regular session, closing at $2.829, up 2.2 cents on the day.

The week was officially crowned “weak” on Friday as cash market points across the United States slumped for the sixth consecutive day of trading. News of four developing storm systems in the tropics proved no match for the declines put in by September natural gas futures on the week.

First quarter domestic oil and natural gas drilling activity dropped to levels not seen since 2004, marking the end of six consecutive years of first quarter growth, the American Petroleum Institute (API) said in a report released last Wednesday.