Declined

February natural gas futures declined by a few more pennies on Monday as traders — after a week of fluctuating forecasts — were still attempting to get a better handle on what the weather picture will be like in the coming weeks. The prompt-month contract traded between $4.322 and $4.450 before closing the regular session at $4.399, down 2.3 cents from last week.

Continuing the recent string of back-and-forth trading, January futures, fresh off Monday’s 17.1-cent gain, declined by 17.8 cents on Tuesday to $4.059.

An investigation by the Interior Department’s Office of Inspector General (OIG) revealed that Royal Dutch Shell benefited during the awarding of oil shale leases by the Bureau of Land Management (BLM) in 2005-2006, but it did not find any evidence that the producer committed any criminal violations, according to a new report by the OIG.

Activity in the Marcellus Shale hasn’t declined even in the face of weak natural gas prices, a Williams Cos. executive said Thursday.

Chevron Corp., which is focusing more on deepwater projects and overseas, reported Friday that its U.S. natural gas production declined by 12% in 3Q2010.

Activity in the Marcellus Shale hasn’t declined even in the face of weak natural gas prices, a Williams Cos. executive said Thursday.

A Barnett Shale landowner is suing units of Chesapeake Energy Corp. alleging underpayment of royalties via a scheme involving gas sales to an affiliate at less than full value. The lawsuit seeks class action status.

Natural gas production in the Lower 48 states, which in June had declined for the first time in 2010, increased 0.3% (0.17 Bcf/d) in July, according to the latest 914 production data released by the Energy Information Administration (EIA).

Natural gas production in the Lower 48 states, which in June had declined for the first time in 2010, increased 0.3% (0.17 Bcf/d) in July, according to the latest 914 production data released by the Energy Information Administration (EIA).