Drew

While New Mexico Gas Co. was strongly criticized for its alleged lack of preparedness, the interdependence of natural gas and electricity infrastructure drew much attention during a U.S. Senate Energy and Natural Resources Committee informational hearing Monday in Albuquerque, NM. The hearing was called in the wake of widespread natural gas service shutoffs early in February during a severe winter freeze that gripped the Southwest.

The Balboa Field, which is in the Gulf of Mexico’s deepwater about 130 miles south of Galveston, TX, ramped up as 2010 drew to a close, Apache Corp. said Thursday.

Natural gas futures drew to a mixed close Tuesday as traders cited little in the way of new fundamental data and noted the rolling of short positions into more deferred contract months. At the close November futures rose 2.8 cents to $3.629 and December fell 1.8 cents to $3.992. November crude oil lost 54 cents to $81.67/bbl.

Colorado regulators last week adopted the most comprehensive state oil and natural gas drilling regulations in the nation. The unanimous vote drew scathing criticism from the Colorado Oil & Gas Association (COGA) and several state Republican lawmakers.

Colorado regulators Wednesday adopted the most comprehensive state oil and natural gas drilling regulations in the nation. The unanimous vote drew scathing criticism from the Colorado Oil & Gas Association (COGA) and several state Republican lawmakers.

EnCana Corp.’s strategy to divide and conquer drew an enthusiastic cheer from investors and energy analysts last week, sending the company’s share price to new highs and setting off rumors that one or both of the new entities could be attractive takeover targets.

EnCana Corp.’s strategy to divide and conquer, which apparently came after three years of internal debate, drew an enthusiastic cheer from investors and energy analysts Monday, sending the company’s share price to a new high and setting off rumors that one or both of new entities could be attractive takeover targets (see related story).

The Bush administration’s proposal to cut states’ share of revenues from oil and natural gas production in fiscal year (FY) 2009 drew sharp objections from U.S. senators representing western states last Wednesday.

The Bush administration’s proposal to cut states’ share of revenues from oil and natural gas production in fiscal year (FY) 2009 drew sharp objections from U.S. senators representing western states Wednesday.