Expecting

Expecting continued growth in production and profits, Houston-based Ultra Petroleum Corp. is projecting that its realized natural gas prices will rise to the $5 range this year and hit that level again in 2013, Ultra CEO Mike Watford told the Jefferies Global Energy Conference Wednesday.

SM Energy Co. raised its guidance for 2011 and introduced plans for 2012 that surpass what analysts were expecting as company executives emphasized a sharpened focus on the Eagle Ford Shale in South Texas.

SM Energy Co. raised its guidance for 2011 and introduced plans for 2012 that surpass what analysts were expecting as company executives emphasized a sharpened focus on the Eagle Ford Shale in South Texas.

September natural gas retreated Thursday following the release of inventory data that was somewhat greater than what the industry was expecting. September lost 7.4 cents to $4.244 and October shed 7.6 cents to $4.257. September crude oil rose 4 cents to $97.44/bbl.

Expecting a rush of new pipelines to support growing Marcellus Shale production, the Pennsylvania General Assembly passed two bills last week that give state regulators more oversight over intrastate pipelines.

Expecting a rush of new pipelines to support growing Marcellus Shale production, the Pennsylvania General Assembly passed two bills this week that give state regulators more oversight over pipelines in the state.

Companies expecting to draw natural gas from Pennsylvania’s prolific Marcellus Shale should be prepared to pay a severance tax, offer jobs to the state’s residents and abide by a growing list of regulations, according to members of a panel who spoke earlier this month at “Marcellus Shale Opportunities & Challenges,” the first in a series of forums presented by Marywood University in Scranton, PA.

Companies expecting to draw natural gas from Pennsylvania’s prolific Marcellus Shale should be prepared to pay a severance tax, offer jobs to the state’s residents and abide by a growing list of regulations, according to members of a panel who spoke Thursday during “Marcellus Shale Opportunities & Challenges,” the first in a series of forums presented by Marywood University in Scranton, PA.

The Energy Information Administration (EIA) last week lifted its forecast on Henry Hub natural gas spot prices for 2010 from a month ago, expecting them now to average $4.70/MMBtu, which is 75 cents above 2009’s average price and 22 cents more than government forecasters predicted in June.