Chief Oil & Gas LLC, which was among the first companies to voluntarily disclose the chemicals used in their fracking operations, recently eliminated the storage of discarded drilling fluid in open reserve pits at drilling sites.
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Fund Trading in Focus; July Romps 32.5 Cents Higher
July natural gas futures soared Monday as traders discarded less-than-encouraging weather forecasts, ample storage supplies and a declining rig count that has failed to make a dent in production for largely technical factors.
Futures Continue Higher on Reports of February Chill
Putting together the second consecutive regular session of gains, natural gas futures traders on Tuesday once again discarded a mound of bearish fundamentals in exchange for changing weather forecasts, which are now calling for February to be not as warm as first expected. March natural gas futures recorded a high of $8.005 before closing out the day at $7.942, up 7.3 cents from Monday’s finish.
Edison Calls for Major Structural Reforms
“The new market structure is broken and must be discarded,” saidEdison International Chairman John E. Bryson yesterday, in astatement warning that his company soon will be “compelled to takedrastic measures,” including “rationing” electricity. He called fora return to regulation, where needed.