Preliminary work that stops short of physical construction can continue on the hotly contested Keystone XL pipeline project while a court-ordered additional environmental assessment proceeds, Montana District Judge Brian Morris ruled on Thursday.
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May natural gas is expected to open 3 cents lower Monday morning at $3.07 as market fundamentals and now technicals portend lower prices. Overnight oil markets rose.
April natural gas is set to open 4 cents lower Thursday morning at $1.64 as weather models are in greater agreement on forecast warm patterns and traders hone short-term trading algorithms in preparation for the release of government storage figures. Overnight oil markets fell.
August natural gas is expected to open unchanged at $2.88 Wednesday morning as analysts suggest that a short-covering rally could send prices to, if not past, the $3 threshold. Overnight oil markets were lower.
While it plans to exit the oil/natural gas exploration/production (E&P) sector, MDU Resources Group Inc. is still focused on ongoing drilling programs and will begin hydraulically fracturing (fracking) wells in the Paradox Basin, executives said.
Power generation will continue to grow in importance to the natural gas market. Reliably connecting gas supply to power plants in the years ahead will take more than synchronizing the gas and power days; a capital-intensive infrastructure buildout is necessary, as is new thinking on the part of pipelines, industry executives said in Houston last Thursday.
Denver-based Forest Oil Corp. said Monday it will market its Texas Panhandle oil and gas assets after having received unsolicited interest in the properties. A deal could garner $1 billion or more and would be “transformative” for the company, one analyst said.
Colorado drillers may face more scrutiny about emissions from their oil and natural operations under regulations being pondered by the state’s Department of Public Health and Environment (CDPHE).