Marathon Oil Corp. is dipping its toes into the liquids-rich Eagle Ford Shale play in South Texas through a deal with Houston-based Denali Oil & Gas, the company said Monday.
Dipping
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Futures Hold $3.70 Support for Second Straight Day
After dipping below $3.700 for a second straight day, natural gas futures showed a bit of a backbone Tuesday afternoon as the November contract rebounded a bit to close at $3.743, up 1.6 cents from Monday’s finish.
Futures Reach Six-Month Low on 11 Bcf Storage Build
After dipping below $4 in anticipation of a bearish natural gas storage injection in Thursday morning’s report for the week ending March 19, confirmation that 11 Bcf was injected last week — two weeks earlier than normal — dropped April natural gas futures even lower before the contract closed at $3.981, down 12.4 cents from Wednesday’s close.
Futures Reach Six-Month Low on 11 Bcf Storage Build
After dipping below $4 in anticipation of a bearish natural gas storage injection in Thursday morning’s report for the week ending March 19, confirmation that 11 Bcf was injected last week — two weeks earlier than normal — dropped April natural gas futures even lower before the contract closed at $3.981, down 12.4 cents from Wednesday’s close.
Futures Rebound After Stopping Just Shy of $2 Handle
After dipping to a new low for the move at $3.049 repeatedly in overnight Globex trade, September natural gas futures rebounded a bit during Wednesday’s regular session. Falling just short of sub-$3 prices for the first time since the same week of 2002, the prompt-month contract ended up closing the day’s session at $3.119, up 2.3 cents from Tuesday’s close.
Touch of Reborn Winter in North Boosts Most Prices
No severe late-season blast of winter is due, but temperatures are dipping low enough in northern market areas to give a boost to recently flagging heating load for gas. The cash market responded with moderate increases at nearly all points Wednesday.
Natural Gas Futures Gain Nearly a Penny Following Sub-$7 Trip
After dipping below the psychological $7 level in Monday’s overnight electronic trading session on Globex, traders on Tuesday were unable to muster any follow-through selling. However, they also were not able to create any real rally as the prompt month ended up closing out the day at $7.083, up eight-tenths of a cent from Monday’s close.
Futures Fall as Traders ‘Awaken’ to Current Bearish Fundamentals
After dipping down in overnight Access trading, September natural gas futures continued the plunge in Wednesday’s regular session, reaching a low of $5.64 before rebounding slightly higher to settle at $5.661, down 15.5 cents on the day.
Crude Rally Barely Nudges Gas Futures Up
After dipping into the high $5.20s just before noon EST, the natural gas futures market rebounded Tuesday in concert with a spiking crude oil market. However, natural gas was unable to keep pace with the 3% gain notched by its hydrocarbon brethren and ultimately failed to match its own $5.50 high from Monday.
Dynegy Shares Slip on Lower Earnings Guidance
Dynegy Inc. shares tumbled sharply last week, dipping to less than $3 at times, after the company cut its full-year earnings guidance estimate to ($0.07) to $0.01 per share from the $0.10 to $0.18 per share it predicted in April and reported that its liquidity position fell about $364 million since last month to $1.7 billion, including $644 million in cash.