Despite $15 oil and the whopping $810 million federal CentralGulf of Mexico lease sale three weeks ago, oil and gas prospectorshad enough shekels remaining to make the Texas General Land Officesale April 7 the largest high bids sale in 22 years and the seventhlargest in the history of the 150-plus-year old agency.
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Little New Price Movement Seen in Any Market
Enough cold weather was either arriving or developing Tuesday inthe northern and western regions of the U.S. to arrest, at leasttemporarily, the mild price slide that had begun the week. For achange there was remarkable cross-market consistency in thatvirtually all points traded flat to up or down a couple of cents.
New England Market Seen Ripe for LNG
Gordon Shearer, president of Cabot LNG Corp., said he knew if hewaited long enough, liquefied natural gas would have its day in themarketplace. That appears about to happen, at least in New England,where Cabot finds itself positioned to meet growing market demandwith LNG imported from thousands of miles away. At the CambridgeEnergy Research Associates 17th annual executive conference inHouston this week, Shearer enumerated factors growing New Englandgas demand and explained how LNG can economically meet some of thatdemand.