Declines

The cash market was showing growing signs of weakness as the mostly single-digit declines that had slightly dominated weekend numbers Friday got larger in nearly all cases Monday. Forecasts of peak temperatures ranging from around 90 to either side of 100 stretched from the South Atlantic area through Oklahoma and Texas into much of the desert Southwest, but moderate to cool conditions continue to reign in the rest of the U.S. and Canada.

Weak national demand led all but a handful of companies to see natural gas marketing declines during the second quarter as the total volume sold in North America fell 9% — almost 11 Bcf/d — according to NGI’s 2Q2009 Top North American Gas Marketers Ranking. read more

A “strong performance” in North America and overseas failed to offset declines in product and software sales for leading oilfield services provider Schlumberger Ltd., which on Friday reported 1Q2010 earnings down 28% from the year-ago period.

A “strong performance” in North America and overseas failed to offset declines in product and software sales for leading oilfield services provider Schlumberger Ltd., which on Friday reported 1Q2010 earnings down 28% from the year-ago period.

The Texas Petro Index (TPI) rose for the second consecutive month to 191.6, following a 14-month string of declines, said the Texas Alliance of Energy Producers. TPI rose from 188.2 in December to 189.1 in January to the latest TPI of 191.6 in February. However, the index remains 27.5% below its level of 264.4 a year ago.

The Texas Petro Index (TPI) rose for the second consecutive month to 191.6, following a 14-month string of declines, said the Texas Alliance of Energy Producers. TPI rose from 188.2 in December to 189.1 in January to the latest TPI of 191.6 in February. However, the index remains 27.5% below its level of 264.4 a year ago.

The Texas Petro Index (TPI) rose for the second consecutive month to 191.6, following a 14-month string of declines, said the Texas Alliance of Energy Producers. TPI rose from 188.2 in December to 189.1 in January to the latest TPI of 191.6 in February. However, the index remains 27.5% below its level of 264.4 a year ago.

Flat or close-to-it pricing was almost universal in Thursday’s market, and for a change almost-imperceptible firmness prevailed instead of the mild declines that had dominated trading in the previous two days. The previous day’s screen uptick of 4.9 cents was the chief impetus for arresting the overall slide as forecasts continued to hint that the end of winter was nigh.

Flat or close-to-it pricing was almost universal in Thursday’s market, and for a change almost-imperceptible firmness prevailed instead of the mild declines that had dominated trading in the previous two days. The previous day’s screen uptick of 4.9 cents was the chief impetus for arresting the overall slide as forecasts continued to hint that the end of winter was nigh.