Fueled

XTO Energy Corp., which holds leases in some of the biggest natural gas prospects in the United States, is on the prowl for even more acquisitions, fueled by an expectation of $10/Mcf gas prices through at least the rest of the year.

Fueled by natural gas drilling, the energy boom will more than double the population over the next 30 years in Colorado’s Piceance Basin region, according to a report.

Fueled by a supportive natural gas storage withdrawal, May natural gas futures on Thursday surged higher to within four-tenths of a cent of the move’s $10.294 high before collapsing in afternoon trade. The prompt-month contract ended up closing the day at $10.098, up 4.2 cents from Wednesday’s close.

After pushing higher last Wednesday and again on Friday, natural gas futures — fueled by a shift to colder temperatures in near-term forecasts — appeared ready to record a third day of significant gains on Monday. While recording a high of $7.960 on the day, the December contract, which goes off of the board on Wednesday, ended up closing out Monday’s session at $7.723, up only 2.3 cents on the day.

Fueled by record oil and natural gas prices, investment-grade exploration and production (E&P) companies in North America have accumulated record cash, which in turn has enabled both organic and acquisitive business growth, according to Moody’s Investors Service. The E&P sector overall remains stable, but companies are being forced to spend more as costs have risen and commodity prices have softened, increasing risks going forward.

Both the U.S. and, in particular, Texas must start constructing more power generation that is baseload and fueled by sources other than natural gas, Barry Smitherman, a commissioner with the Public Utility Commission of Texas (PUCT) told Texas lawmakers last week.

Fueled by cold weather fear and the expectations that Thursday morning’s natural gas storage report from the Energy Information Administration (EIA) will reveal a significant withdrawal, January natural gas futures gapped higher on the open again on Wednesday and explored resistance levels in the mid-$12 area. After carving out a $12.650 high, the prompt month ended up settling at $12.587, up a meteoric 85.1 cents on the session.

Brimming with confidence fueled by a strong portfolio of businesses, San Diego-based Sempra Energy is bullish about its prospects in a joint venture to build a major new natural gas pipeline from the Rockies to the East. It also expects to project finance all three of its proposed liquefied natural gas (LNG) receiving terminals, CEO Neal Schmale told analysts at the Bank of America 2005 Energy Conference in San Diego Tuesday.

The Energy Information Administration (EIA) in November has revised downward its projection on rising winter heating costs. Bills for households fueled by natural gas are now expected to rise 41% ($306 more per household) rather than the 48% hike ($350 more per household) EIA predicted in October.