Finished

Although the New York State Department of Health (DOH) needs a few more weeks to complete a health impact analysis of high-volume hydraulic fracturing (HVHF), Department of Environmental Conservation (DEC) Commissioner Joe Martens said Tuesday it would not cause undue delay in starting the processing of permit applications for the practice.

Physical gas overall Thursday finished fractionally lower with eastern points higher and California locations softer. The Energy Information Administration (EIA) reported an inventory increase of 47 Bcf, much higher than the market was anticipating, and futures prices initially plunged before erasing most of an 11-cent deficit by closing.

The cash market finished the last day of August bidweek Tuesday by posting an overall gain on average of nearly 9 cents. A forecast of warmer temperatures for New England locations helped lift eastern prices, and expected increases in demand for power in California gave physical gas prices there a boost. At the close of futures trading September had eased five-tenths of a cent to $3.209 and October had slipped 1 cent to $3.212. September crude oil plunged $1.72 to $88.06/bbl.

Physical natural gas prices fell about 2 cents Wednesday as traders finished up bidweek futures trading and factored in volatile near-term weather forecasts. Isolated strength was noted at some Northeast points, but for the most part the decline was widespread with all points flat or in the loss column. At the close of futures trading the expired April contract had lost 1.7 cents to $2.191 and May had eased 1.2 cents to $2.282. May crude oil dropped $1.92 to $105.41/bbl.

Cimarex Energy Co. will spend $1.4-1.6 billion on capital expenditures (capex) in fiscal 2012, with nearly all of it devoted to drilling for oil and natural gas liquids (NGLs) in the Permian Basin and the Cana-Woodford Shale, company officials said Wednesday.

January natural gas finished flat Friday, but other months eased as traders don’t see any bullish factors and cite a technical trading objective 50 cents lower. January settled unchanged at $3.127 and February eased 0.3 cent to $3.174. January crude oil fell 34 cents to $93.53/bbl.

The Pennsylvania Department of Environmental Protection (DEP) issued more Marcellus Shale drilling permits in September than in any other month of the year, but drilling slowed from summer highs.

Enterprise Products Partners LP has almost finished a handful of projects designed to optimize its Neptune cryogenic gas processing facility in St. Mary Parish, LA, to provide greater flow assurance and flexibility for onshore and offshore producers in the Gulf Coast.

Enterprise Products Partners LP has almost finished a handful of projects designed to optimize its Neptune cryogenic gas processing facility in St. Mary Parish, LA, to provide greater flow assurance and flexibility for onshore and offshore producers in the Gulf Coast.