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Emerging unconventional resources, especially from shale, could result in lower-than-expected natural gas prices for the next five to 10 years, a Barclays Capital analyst said Wednesday.

Promising results onshore, especially in the Marcellus Shale and in the Maverick Basin, combined with robust activity in the U.S. offshore, will keep Anadarko Petroleum Corp. poised to strike once the economy and natural gas prices gain strength. But until then the company plans to tread cautiously, CEO Jim Hackett said Thursday.

Promising results onshore, especially in the Marcellus Shale and in the Maverick Basin, combined with robust activity in the U.S. offshore, will keep Anadarko Petroleum Corp. poised to strike once the economy and natural gas prices gain strength. But until then the company plans to tread cautiously, CEO Jim Hackett said Thursday.

President Obama’s proposed cap-and-trade plan for controlling greenhouse gas (GHG) emissions is expected to push up demand for natural gas over the next decade, especially by power generators, but a large part of the demand isn’t likely to be met by domestic gas due to the emission allowance costs that will be imposed, according to a study released last Tuesday. Rather it said foreign imports of liquefied natural gas (LNG) are expected to fill the void.

President Obama’s proposed cap-and-trade plan for controlling greenhouse gas (GHG) emissions is expected to push up demand for natural gas over the next decade, especially by power generators, but a large part of the demand isn’t likely to be met by domestic gas due to the emission allowance costs that will be imposed, according to a study released Tuesday. Rather, it said foreign imports of liquefied natural gas (LNG) are expected to fill the void.

Steep declines in North American drilling activity, especially in the Rocky Mountains, Permian Basin and Midcontinent, pushed down Halliburton’s 1Q2009 earnings from a year ago and forced a 12% reduction to its U.S. and Canadian workforce, the CEO said last week. A sharp drop in U.S. gas drilling also sent Schlumberger Ltd.’s quarterly profits down 28%.

Primarily due to some serious cooling load developing across the southern half of the U.S. (especially in the more heavily populated South) and abetted by a smidgen of chilly weather remaining in the forecast for the upper Northeast, the cash market was able to shrug off the previous day’s 2.9-cent decline by May futures and rise at a majority of points Wednesday.

Steep declines in North American drilling activity, especially in the Rocky Mountains, Permian Basin and Midcontinent, pushed down Halliburton’s 1Q2009 earnings from a year ago and forced a 12% reduction to its U.S. and Canadian workforce, the CEO said Monday. Separately, Raymond James & Associates Inc. said it now anticipates more declines in U.S. drilling through 2009.

The rapid decline of the U.S. natural gas rig count — especially in the prolific Barnett Shale — points to a 3-5% drop in total U.S. volumes by the end of 2009, XTO Energy CEO Keith Hutton said Thursday.