During its second fiscal quarter, which ended Feb. 28, Platteville, CO-based independent Synergy Resources Corp. continued its 100% success rate in the Wattenberg Field in the Denver-Julesberg (DJ) Basin. Synergy recently struck a joint venture (JV) agreement in the DJ Basin as well.
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Futures Plummet on Large Storage Fill
Exhibiting a symmetry not often seen in the hectic world of natural gas futures trading, prices spiraled lower Thursday on bearish storage data, exactly retracing the gains seen following last Thursday’s bullish storage report. Last Thursday, the Energy Information Administration (EIA) reported a lower-than-expected 74 Bcf injection and this week the EIA reported a greater-than-expected 82 Bcf refill. In both instances, the price reaction was immediate and substantial. On Aug. 7 the market leaped 33.7 cents higher, while Thursday the market dropped 28.8 cents to close at $4.891.
August 15, 2003
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