Done

Activity in the Marcellus Shale hasn’t declined even in the face of weak natural gas prices, a Williams Cos. executive said Thursday.

Enerplus Resources Fund said last week it is nearly done with a series of acquisitions and sales that will reposition it as more shale-weighted and less oilsands-heavy.

Enerplus Resources Fund said this week it is nearly done with a series of acquisitions and sales that will reposition it as more shale-weighted and less oilsands-heavy.

While some points were able to log increases for the entire week, deals done on Friday for weekend and Monday delivery included some upticks, some that did not change and quite a few that recorded declines. The Northeast, Midcontinent, Rockies and California recorded the most drops, with declines ranging from a penny to 6 cents.

After having some impact on cash deals done on Thursday, the bearish natural gas storage report and the resulting decline natural gas futures values helped lead the cash market to no change or lower on Friday at all U.S. points. A few Canadian points ticked higher a couple of pennies, potentially due to the outage of the Sable Offshore Energy Project.

Cash traders appear to be convinced that the 2009-2010 winter is pretty much a done deal already, even with temperatures starting to fall again in several regions. Prices fell at nearly all points Monday.

Cash traders appear to be convinced that the 2009-2010 winter is pretty much a done deal already, even with temperatures starting to fall again in several regions. Prices fell at nearly all points Monday.

Weekend prices showed almost a directly opposite pattern from deals done a day earlier. Whereas Northeast citygates had spiked Thursday while the rest of the market was softer, on Friday it was the Northeast (along with the Rockies) plunging while all other points were rising, based largely on the bullish Nymex response to Thursday morning’s storage withdrawal report.

The hunt to secure a joint venture (JV) partner to help develop some projects in the deepwater Gulf of Mexico is nearly done, Devon Energy Corp. officials said Wednesday.