Exchange

McMoRan Exploration Co., which has built a sizable natural gas-weighted portfolio in the shallow waters of the Gulf of Mexico — and with it sizable drilling costs — saw its share price fall by double digits early last week after reporting a net loss in 3Q2010 of $25.3 million (minus 26 cents/share). Revenue in the latest quarter fell almost 13% from a year ago to $94.8 million.

BP plc shares resumed their slide Monday, closing down nearly 10% at $30.67 on the New York Stock Exchange nearly two months after the drilling rig Deepwater Horizon exploded and sank at the company’s Macondo well site in the Gulf of Mexico (GOM).

FERC has terminated its Section 5 complaint proceeding against Northern Natural Gas Co. pipeline for overrecovery of cost of service in exchange for the pipeline agreeing to a one-year rate freeze for shippers.

FERC has terminated its Section 5 complaint proceeding against Northern Natural Gas Co. pipeline for overrecovery of cost of service in exchange for the pipeline agreeing to a one-year rate freeze for shippers.

Sen. John Barrasso (R-WY) Wednesday introduced legislation that would block the Securities and Exchange Commission’s (SEC) new requirement that companies disclose the impacts of climate change on their businesses.

Sen. John Barrasso (R-WY) Wednesday introduced legislation that would block the Securities and Exchange Commission’s (SEC) new requirement that companies disclose the impacts of climate change on their businesses.

Front-month natural gas futures on Monday broke below psychological support at $5 for the first time since early December as traders see the winter season ticking to a close.

Front-month natural gas futures on Monday broke below psychological support at $5 for the first time since early December as traders see the winter season ticking to a close.

The updated reserves reporting rules enacted by the Securities and Exchange Commission (SEC) for U.S. exploration and production (E&P) companies may prove a struggle for independents in choosing whether to be aggressive with their bookings versus a more conservative approach, particularly when booking proved undeveloped (PUD) locations, analysts said Thursday.