Gain

SM Energy Co. said it has agreed with undisclosed buyers to divest a portion of its Eagle Ford Shale position.

Nuclear power’s loss in Japan is rapidly turning out to spell gain for natural gas — and not least in Western Canada. Aspiring overseas exporters of liquefied natural gas (LNG) heard that encouraging word from international market participants recently in the Canadian industry capital of Calgary.

Nuclear power’s loss in Japan is rapidly turning out to spell gain for natural gas — and not least in Western Canada. Aspiring overseas exporters of liquefied natural gas (LNG) heard that encouraging word from international market participants Wednesday in the Canadian industry capital of Calgary.

June natural gas futures rose Tuesday as analysts saw the gain as consistent with movement within the market’s prevailing price parameters. Prices may take some guidance from the oil markets during a time when weather-driven fundamentals have minimal market-moving capability. At the close June had gained 9.2 cents to $4.246 and July added 8.7 cents to $4.303. June crude oil continued its journey higher rising $1.33 to $103.88/bbl.

Active rigs in U.S. shale and tight sands basins gained 1% in the week ending April 1 to hit 981 rigs, up from 972 the previous week, according to NGI’s Shale Daily Unconventional Rig Count.

April natural gas managed a small gain Tuesday in volatile trading. Petroleum markets, however, continued to plummet as concerns mounted over the deepening crisis in Japan and a substantial hit to the world’s third largest economy. Natural gas prices managed to rise as traders noted the relative appeal of gas compared to deteriorating equity and other petroleum markets. At the close April natural gas had risen 2.7 cents to $3.941 and May closed 3.6 cents higher at $4.012. April crude oil plunged $4.01 to $97.18/bbl.

With some help from a 13.3-cent gain Friday in the prompt-month debut by April futures and colder forecasts for most territory east of the Mississippi River, prices firmed at nearly all points Monday. The restoration of industrial load following its usual weekend decline also contributed to the overall advance.

March natural gas futures managed a modest gain Wednesday as other markets soared or sank in response to turbulence in oil-rich Libya and the greater Middle East. Analysts noted that the situation is far different than the recent upheaval in Egypt as Libya is a major exporter of crude oil and by most accounts the petroleum markets are going to have to factor in the loss of about 1.5 million b/d, as companies evacuate personnel from the country.

March natural gas futures managed a modest gain Monday as traders cited market moves reflecting largely bookkeeping and rolling of positions from one month to the next. There was little in the way of new fundamental information, and traders suggested that short-term support areas were safe for the moment. At the close March natural gas was up 1.5 cents to $3.925 and April added 1.4 cents to $3.991. March crude oil continued its losing ways, posting a decline of 77 cents to $84.81/bbl.