Digit

It wasn’t much, but the market could claim a little more of both heating and cooling load in posting solid double-digit increases at all points Thursday. However, cash quotes continued to depend more on prior-day screen support and a general sense that global economic woes may be starting to lessen in extending the week’s rally into its fourth day.

BP plc posted a double-digit decline in quarterly profits from a year ago, but natural gas and oil production was up, and a corporatewide operational restructuring yielded $1 billion in cost savings, the company said last week.

BP plc posted a double-digit decline in quarterly profits from a year ago, but natural gas and oil production was up, and a corporatewide operational restructuring yielded $1 billion in cost savings, the company said Tuesday.

Following weeks of double-digit losses, the U.S. natural gas rig count only dropped two rigs for the week ending April 3 to a level of 808 rigs — a drop from a peak of 1,606 rigs on Sept. 12. However, several energy analysts think the decline was only a “pause,” and oilfield service providers will have to play nice with producers as service contracts are renegotiated.

Following weeks of double-digit losses, the U.S. natural gas rig count only dropped two rigs last week to a level of 808 rigs — a drop from a peak of 1,606 rigs on Sept. 12. However, several energy analysts think the decline was only a “pause,” and oilfield service providers will have to play nice with producers as service contracts are renegotiated.

The market was close to flat in most cases Thursday as only a few points saw more than single-digit change either up or down. Overall it was a bit weaker as softness tended to overshadow gains more than on Wednesday. Cooler forecasts for Friday in the Northeast and much of the South were counterbalanced by warming trends in the Midcontinent/Midwest and Rockies, with Wednesday’s 12.8-cent loss by April futures tipping the market scales more to the bearish side.

The swift drop in the natural gas drilling rig count across the Rocky Mountains has led to double-digit declines for some drilling services, and more are expected in the months ahead, Bill Barrett Corp. officials said Tuesday. Lower service costs will help the independent keep its costs in line, but it also is preparing for what may be “radical” changes in gas prices through the year, said CEO Fred Barrett.

The swift drop in the natural gas drilling rig count across the Rocky Mountains has led to double-digit declines for some drilling services, and more are expected in the months ahead, Bill Barrett Corp. officials said Tuesday. Lower service costs will help the independent keep its costs in line, but it also is preparing for what may be “radical” changes in gas prices through the year, said CEO Fred Barrett.

Excluding double-digit gains at Northeast citygates, only a few other points moved more than a dime up or down from unchanged Thursday. Friday’s low temperatures were predicted to get colder in the Midcontinent, Northeast, Midwest and Rockies, but they were often counterbalanced to some extent by forecasts of relatively moderate highs. Wednesday’s decline of 1.1 cents by March futures had scant impact in pushing the cash market either way.