Headed

Trying to figure out where the North American natural gas markets are headed over the next decade — or even the next five years — is a nearly impossible task, a panel of executives said Tuesday at GasMart 2010 in Chicago.

Weak guidance from Tuesday’s screen kept almost all cash points headed lower on Wednesday despite indications that the 2009 Atlantic hurricane season might soon arrive.

The opportunity is now for natural gas buyers because front-month futures prices are likely headed to $8 before the end of the year, according to Paul Corby, senior vice president of Planalytics. Corby will be offering the market analysis behind his forecast at GasMart 2009, the annual meeting of major natural gas buyers and sellers coming up in Chicago May 19-21.

The opportunity is now for natural gas buyers because front-month futures prices are likely headed to $8 before the end of the year, according to Paul Corby, senior vice president of Planalytics. Corby will be offering the market analysis behind his forecast at GasMart 2009, the annual meeting of major natural gas buyers and sellers coming up in Chicago May 19-21.

After easily breezing through the House, the multi-billion economic stimulus package was headed to the Senate floor this week where it could run into a Republican wall and fall shy of the 60 votes needed to overcome a filibuster.

Despite absorbing the two-headed blow from mild weather and the economic recession, Richmond, VA-based Dominion Resources posted 4Q2008 unaudited net income of $348 million, or 60 cents per share, up 16% from net income of $299 million, or 52 cents per share, for the same period in 2007.

The surge in natural gas drilling that has transformed Colorado’s landscape and plumped its coffers appears headed for a plateau as producers cut back spending and reduce rig counts for a variety of reasons: lower gas prices, credit market turmoil, limited pipeline capacity and the possibility of more stringent state regulations.

The surge in natural gas drilling that has transformed Colorado’s landscape and plumped its coffers appears headed for a plateau as producers cut back spending and reduce rig counts for a variety of reasons: lower gas prices, credit market turmoil, limited pipeline capacity and the possibility of more stringent state regulations.

While the stock market tumbled lower Wednesday on more financial crisis news, energy futures and other commodities headed in the opposite direction on the day as investors sought refuge in tangible goods. In the second worst session of the year, Dow industrials fell more than 400 points, while October natural gas surged 63.1 cents higher to close at $7.910/MMBtu and October crude gained $6.01 to finish at $97.16/bbl.