North American onshore drilling contractor Patterson-UTI Energy Inc. (PTEN) has seen an uptick “in all segments” but steep declines in hydraulic fracturing and cementing services in North American operations, coupled with reduced pricing for services, sent BJ Services Co. earnings into a spiral in fiscal 1Q2010.
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BJ Services Earnings Plummet in North America
Steep declines in hydraulic fracturing and cementing services in North American operations, coupled with reduced pricing for services, sent BJ Services Co. earnings into a spiral in fiscal 1Q2010, the company said late Monday.
BJ Services Earnings Plummet in North America
Steep declines in hydraulic fracturing and cementing services in North American operations, coupled with reduced pricing for services, sent BJ Services Co. earnings into a spiral in fiscal 1Q2010, the company said late Monday.
Virtually All Points Fall as Moderate Weather Reigns
One Western Canada point managed to be the exception to overall double-digit price declines continuing Friday. Forecasts of unseasonably moderate late-November temperatures in many areas again were the primary drag on spot quotes, abetted by the usual drop of industrial load during a weekend. As a producer had predicted, Thursday’s rally of 8.8 cents by December futures was unable to induce a similar response in the cash market.
Screen Dive Fails to Avert Moderate Cash Rally
Prices rebounded by generally small amounts at most points Tuesday following across-the-board declines a day earlier. Considering Monday’s futures plunge of 27.4 cents, the rally was rather surprising in light of a warm-up into the 70s forecast for the South along with relatively light cooling trends in parts of the Northeast and mixed temperature movement due in the Midwest.
Gas Marketing Declined in 2Q2009; Market ‘Plagued by Wishful Thinking’
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.
Minor Softness Continues in Most of Market
Prices continued to fall at a majority of points Thursday, but declines were generally small at less than a dime. There were signs of new, albeit slight, firmness as several more locations were flat to 2-3 cents higher than on the day before.
All-Points Rally Continues, But Extension Dubious
Despite predictions of moderate declines of cooling loads in parts of the South, Midwest and Midcontinent, the previous day’s rally of 16.6 cents by August futures combined with remaining heat-related gas demand to lift cash prices at all points Wednesday.
Modest Recovery — Maybe — By Late ’09 for Prices, Demand
A recovery for natural gas prices in 2009 is unlikely, but as the rig count declines, it should set up supply to drop substantially at the same time the economy begins to recover, which bodes well for a more bullish 2010, energy analysts said last week.
Raymond James Bearish Through 2009, Sees Recovery in 2010
A recovery for natural gas prices in 2009 is unlikely, but as the rig count declines, it should set up supply to drop substantially at the same time the economy begins to recover, setting up a much more bullish 2010, Raymond James & Associates Inc. said Monday. The energy team predicted that gas prices could average $8/Mcf by 2010, well above its $5 forecast for this year.