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Exploration and production (E&P) companies are in the early stages of a “multi-year, double-digit growth spending upcycle” around the globe that is characterized by increased drilling in complex geologies on land, as well as deepwater development, according to a new survey by Barclays Capital analysts.

Exploration and production (E&P) companies are in the early stages of a “multi-year, double-digit growth spending upcycle” around the globe that is characterized by increased drilling in complex geologies on land, as well as deepwater development, according to a new survey by Barclays Capital analysts.

January natural gas futures posted a double-digit loss Monday as traders acknowledged a low volatility price environment and little incentive for end-users to step up to the plate and lock in prices. At the close January was down 12.3 cents to $3.461 and February also had shed 12.3 cents to $3.490.

Expiring December natural gas futures posted a double-digit loss as traders elected to focus on an incoherent weather outlook and adjust positions as the deadline for December trading approached. At the close December had fallen 17.8 cents to $3.364 and January had skidded 14.0 cents to $3.525. January crude oil gained a stout $1.44 to $98.21/bbl.

December natural gas settled modestly higher Tuesday as traders prepared for a double whammy in the form of a government inventory report and options expiration Wednesday. In addition, December futures expire Monday following an extended holiday period. At the end of the day December had added 1.6 cents to $3.415 and January had tacked on 0.3 cent to $3.561. January crude oil added $1.09 to $98.01.

December natural gas nearly notched a double-digit loss Wednesday as traders prepared for a government inventory report likely to show an inventory addition well above last year’s and the five-year average. At the close December had fallen 9.3 cents to $3.652 and January had skidded 9.4 cents to $3.749. December crude oil fell $1.06 to $95.74/bbl.

FERC Friday gave Empire Pipeline Inc. the green light to place into service a major interconnection on its Tioga County Extension Project to transport Marcellus Shale production in Pennsylvania to the U.S.-Canadian border.

Cash quotes nationwide showed nearly double-digit gains on Thursday, but little strength was seen at Gulf Coast points. Western prices firmed based on strength at AECO and prices rose at eastern pipelines.

December natural gas suffered a bruising double-digit loss Tuesday in what observers noted was at least a temporary joining of hands with free-falling petroleum and Greece-centric equity markets. At the close December had fallen 15.3 cents to $3.781 and January had retreated 13.6 cents to $3.920. December crude oil dropped $1.00 to $92.19/bbl; the Dow Jones Industrial Average lost 297 points to 11,658, and the Standard and Poor’s 500 Index shed a whopping 35 points to 1,218.