Focus

During 2012 Goodrich Petroleum will continue to emphasize oil-directed drilling over natural gas with the majority of its focus, and spending, on the Eagle Ford Shale of South Texas, the company said Wednesday.

Expiring December natural gas futures posted a double-digit loss as traders elected to focus on an incoherent weather outlook and adjust positions as the deadline for December trading approached. At the close December had fallen 17.8 cents to $3.364 and January had skidded 14.0 cents to $3.525. January crude oil gained a stout $1.44 to $98.21/bbl.

Calling for more focus and money centered on natural gas pipeline safety, consumer organizations urged California regulators Wednesday to abandon their previous approval of a $1 billion switch to an advanced metering system at Sempra Energy’s Southern California Gas Co. (SoCalGas).

November natural gas inched lower Friday as buying momentum from Thursday faded and traders continued to focus on a market burdened by a host of negative supply-demand factors. They suggested that prices could work nearly 40 cents lower from present levels. At the close November had drifted 0.1 cent lower to $3.629 and December had fallen 0.8 cent to $3.826. December crude oil gained $1.33 to $87.40/bbl.

The near-term outlook for U.S. natural gas prices has come into focus — and it’s not a pleasant picture, according to energy analysts.

Tracking potential impacts of Marcellus Shale drilling activity on water quality will be the focus of a $750,000 research grant from the National Science Foundation, according to Pennsylvania State University (Penn State), which is to lead the collaboration.

The near-term outlook for oil prices has blurred but the outlook for U.S. natural gas prices is more in focus — and it’s not a pleasant picture, according to analysts with Raymond James & Associates Inc.

Australian oil and gas developer Linc Energy is a new player in Wyoming’s humming oil and gas patch, bringing a focus on underground “cooking” of coal seams to create synthetic gas (syngas) and natural gas liquids.

While the new CEO reiterated Tuesday that San Diego-based Sempra Energy’s focus would remain fixed primarily on utility operations, the energy holding company will continue to look for other opportunities in what was called “contracted energy infrastructure” investments.