Giving

Kerr-McGee Oil & Gas Corp. and BP plc executed a property swap last week, with BP giving up its 37.5% working interest in the deepwater Gulf of Mexico Blind Faith discovery. In exchange, BP will receive an undisclosed amount of cash and interests in several oil and natural gas assets in the Arkoma Basin of southeast Oklahoma.

Kerr-McGee Oil & Gas Corp. and BP plc have executed a property swap, with BP giving up its 37.5% working interest in the deepwater Gulf of Mexico Blind Faith discovery. In exchange, BP will receive an undisclosed amount of cash and interests in several oil and natural gas assets in the Arkoma Basin of southeast Oklahoma.

Kerr-McGee Oil & Gas Corp. and BP plc have executed a property swap, with BP giving up its 37.5% working interest in the deepwater Gulf of Mexico Blind Faith discovery. In exchange, BP will receive an undisclosed amount of cash and interests in several oil and natural gas assets in the Arkoma Basin of southeast Oklahoma.

Giving back all of Monday’s gains and then some, December natural gas futures on Tuesday made a second unsuccessful run at breaking through and staying below the psychological $7.00 mark. After reaching a low of $7.05 on the day, the prompt month settled at $7.124, down 31.2 cents.

Giving back all of Monday’s gains and then some, December natural gas futures on Tuesday made a second unsuccessful run at breaking through and staying below the psychological $7.00 mark. After reaching a low of $7.05 on the day, the prompt month settled at $7.124, down 31.2 cents.

Despite giving the impression in morning trading that Wednesday would record a down day, July natural gas futures bounced off a $5.31 low to settle at $6.415, up three-tenths of a cent on the day.

While giving no indications that his own company plans to put a “for sale” sign in front of its headquarters, Mayo Shattuck, CEO of Maryland-based Constellation Energy, last Tuesday told a gathering of investment professionals that he expects consolidation in the overall power industry to accelerate in the years ahead.

Giving back almost all of the 18.7 cents it had gained on Wednesday, the May futures contract Thursday afternoon retreated 16.8 cents to close at $5.765. The decline ended a hectic day that saw the prompt month challenge the $6 mark, notching a high of $5.99. However, it appeared overhead selling prevented the market from breaking above the psychological $6 level, sending prices lower.

Both California and Mexico are committed to giving proponents of liquefied natural gas (LNG) import projects a chance to make their cases for new receiving terminals, but it is still unclear how many and where (on-land or offshore) those facilities will be built, according to government energy officials who spoke this week at a conference in Long Beach, CA.