Grew

Despite the fact that natural gas consumption grew by 0.7% within the United States in 2008, the Energy Information Administration (EIA) said Tuesday the economic downturn will likely lead to a 1% drop in 2009 before gaining 0.7% again in 2010, according to the government agency’s latest Short Term Energy Outlook.

The bet made by Pioneer Natural Resources Co. to focus on U.S. exploration appears to paid off — proved reserves grew by 128 MMboe last year, and the producer replaced 357% of production primarily in its core onshore areas and through several key U.S. acquisitions.

Oil and natural gas prices reached a “near parity” in 2003, trading at a 6:1 ratio, but the discount grew to a third in 2005, and by the end of the first eight months of this year, the oil-versus-gas discount ballooned to 78%, hitting Canada’s gas industry particularly hard, according to energy consultant Ziff Energy Group.

Anadarko Petroleum Corp.’s domestic gas sales grew 65% in the second quarter from the year-ago period while realized gas prices increased 12.5%, contributing to a hefty revenue surge. However, net income was down for the quarter, $652 million ($1.39/share) versus $814 million ($1.76/share), a 20% decline blamed in large part on income taxes associated with divestitures as well as higher interest expense.

As the congressional spotlight on commodities trading and regulation by the Commodity Futures Trading Commission (CFTC) grew brighter and hotter last week, it also narrowed its focus as legislators made clear they are almost exclusively interested in natural gas trading, the Amaranth case and the surrounding infrastructure, namely the CFTC, the New York Mercantile Exchange (Nymex) and IntercontinentalExchange (ICE).

As the congressional spotlight on commodities trading and regulation by the Commodity Futures Trading Commission (CFTC) grew brighter and hotter Thursday, it also narrowed its focus as legislators made clear they are almost exclusively interested in the natural gas market, the Amaranth case and the surrounding infrastructure, namely the CFTC, the New York Mercantile Exchange (Nymex) and IntercontinentalExchange (ICE).

For the fourth consecutive year, global natural gas production grew in 2006 above the 10-year average, according to the BP Statistical Review of World Energy 2007. BP, which reviewed oil and gas output and consumption data through the end of last year, documented a 26.3 billion-cubic-meter (Bcm) gas inventory build in the United States, the European Union and Russia alone.

For the fourth consecutive year, global natural gas production grew in 2006 above the 10-year average, according to the BP Statistical Review of World Energy 2007. BP, which reviewed oil and gas output and consumption data through the end of last year, documented a 26.3 billion-cubic-meter (Bcm) gas inventory build in the United States, the European Union and Russia alone.

DTE Energy’s unconventional natural gas business grew significantly in 2006, more than doubling Barnett Shale proved reserves and increasing Antrim Shale proved reserves by 31%, the company said Monday.