Following Tuesday’s drop of 15.3 cents in December natural gas futures and Thursday’s firmness despite a bearish 78 Bcf storage injection report, traders appeared content to finish the week on a quiet note. On Friday the front-month contract traded between a morning high of $3.847 and an afternoon low of $3.769 before calling the whole thing off and closing at $3.783, up five-tenths of a penny from Thursday’s regular session close. December’s close was 14 cents lower than the previous week’s finish.
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Forecasts: Prices Drop as the Gas Just Keeps on Coming
Despite “a major supply glut,” the natural gas-directed rig count has crept up, and oil-focused drilling in shale plays also is yielding natural gas, so analysts at Bank of America Merill Lynch (BofA) have raised their 2012 forecast for production growth and cut their price forecast.
Wyoming Niobrara Development Slow, State Official Says
Early results, albeit preliminary and limited, indicate that the Niobrara play in southeast Wyoming is slow in coming to fruition, according to the state’s top oil/gas exploration and production official.
S&P: Supply to Set Direction for 2012 Gas Prices
Despite a lukewarm economic recovery and a higher risk of recession, the credit quality for the U.S. oil and gas sector should remain relatively stable in 2012, according to an industry report card by Standard & Poor’s (S&P).
Marcellus Ethane Remains a Puzzle
Despite a large supply of ethane in the Appalachian Basin and no nearby place to put it, several projects to ship the commodity out of the region are challenged by the complexities of the marketplace, according to several project sponsors.
S&P: Supply to Set Direction for 2012 Gas Prices
Despite a lukewarm economic recovery and a higher risk of recession, the credit quality for the U.S. oil and gas sector should remain relatively stable in 2012, according to an industry report card by Standard & Poor’s (S&P).
Market Conditions ‘Generally Positive’ as Winter Approaches
Continued production growth and new pipelines connecting producing areas to consumers have helped keep natural gas prices low, despite a 2.6% increase in demand this year, and market conditions going into the winter are generally positive, according to FERC’s Office of Enforcement (OE).
Market Conditions ‘Generally Positive’ as Winter Approaches
Continued production growth and new pipelines connecting producing areas to consumers have helped keep natural gas prices low, despite a 2.6% increase in demand this year, and market conditions going into the winter are generally positive, according to FERC’s Office of Enforcement (OE).
British Columbia to Study Fracking, Seismic Activity
Despite a lack of evidence showing that there is a correlation between hydraulic fracturing (fracking) and increased seismic activity, British Columbia (BC) provincial authorities want to study the issue, focusing on BC’s Horn River Basin shale play.
Market Can Handle Marcellus, Says Analyst
The growth of the Marcellus Shale likely won’t be constrained by market demand, despite a projected seven-fold increase in production from the play over the next 15 years, according to FBR Capital Markets.