Drops

Better late than never was the general theme surrounding the natural gas futures market Monday, as more seasonable cold weather finally settled into the East. As a result, January natural gas futures began trading in Monday’s regular session at an elevated level, exploring higher ranges in search of resistance.

Better late than never was the general theme surrounding the natural gas futures market Monday, as more seasonable cold weather finally settled into the East. As a result, January natural gas futures began trading in Monday’s regular session at an elevated level, exploring higher ranges in search of resistance.

Sections of the market were moving in different price directions again Friday, a day after all points were united in getting crushed. The West and Midcontinent/Midwest, which can expect some heating load as this week begins, saw quotes rise by as much as 60 cents. But the Gulf Coast and Northeast, where temperatures are expected to remain unseasonably mild, recorded losses at most points that ranged to nearly 40 cents.

ExxonMobil Corp’s liquefied natural gas (LNG) import terminal planned for Mobile Bay, AL, which was on shaky ground from the start due to intense local opposition, bit the dust Thursday.

ExxonMobil Corp’s liquefied natural gas (LNG) import terminal planned for Mobile Bay, AL, which was on shaky ground from the start due to intense local opposition, bit the dust Thursday.

Sections of the market were moving in different price directions again Friday, a day after all points were united in getting crushed. The West and Midcontinent/Midwest, which can expect some heating load as this week begins, saw quotes rise by as much as 60 cents. But the Gulf Coast and Northeast, where temperatures are expected to remain unseasonably mild, recorded losses at most points that ranged to nearly 40 cents.

ExxonMobil Corp’s liquefied natural gas (LNG) import terminal planned for Mobile Bay, AL, which was on shaky ground from the start due to intense local opposition, bit the dust Thursday.

Houston-based independent Pioneer Natural Resources Co. on Tuesday reduced its third quarter production forecast after shutting in production from its Harrier field in the Falcon Corridor of the deepwater Gulf of Mexico following early water encroachment. A sidetrack well is expected to spud in mid-September to access an adjacent fault block in the field, and Pioneer said it could be producing by the end of October.

In the next 30-45 days large consumers may have the opportunity “to lock in some really low gas prices,” according to Chesapeake Energy Chairman Aubrey K. McClendon, adding that his company is “virtually 100% hedged” during that time period.