Gripping

The record-breaking drought gripping Texas has the state’s reservoir/aquifer managers eyeing water levels and issuing warnings. But lower water reserves apparently have not seriously affected oil and gas activities in the state, at least not yet.

Despite the current freeze gripping much of the eastern half of the United States, recent near-term forecasts of moderating temperatures helped ease natural gas futures values lower on Tuesday as the January contract reached a low of $4.250 before closing the regular session at $4.255, down 16.5 cents from Monday’s regular session close.

Bolstered by an eastern chill that is gripping the eastern third of the United States, natural gas futures bulls on Monday pushed the January contract to a high of $4.540. The prompt-month contract ended up finishing the regular session at $4.488, up 13.9 cents from Friday’s close.

The CFOs of U.S. oil and gas exploration and production (E&P) companies see trouble ahead. Chief among the worries is the credit crisis gripping financial markets, which continues to unfold, according to a study by BDO Seidman LLP

The CFOs of U.S. oil and gas exploration and production (E&P) companies see trouble ahead. Chief among the worries is the credit crisis gripping financial markets, which continues to unfold, according to a study by BDO Seidman LLP