Healthy

Northeast, East Points Boost Firm Overall Market; Futures Falter

Physical gas prices overall averaged a healthy gain of 28 cents Monday, but when volatile East and Northeast points are factored out, the national gain was a more modest 4 cents. Points serving the New York and Boston areas finished the day over $15, but the benchmark Henry Hub was just 2 cents higher at just over $3.40. Futures prices slumped on light volume as medium term weather forecasts moderated. At the close February was down 11.8 cents to $3.351 and March had sunk 11.7 cents to $3.365. February crude oil gained $1.02 to $91.82/bbl.

January 2, 2013

Talisman Slashes Capex 25% on Weak Natural Gas Prices

Talisman Energy Inc.’s North American production from ongoing operations experienced a healthy increase in 3Q2012, but weak natural gas prices have the company and its new CEO, Hal N. Kvisle, trimming capital expenses (capex) as part of a plan to run a more streamlined operation in 2013.

November 5, 2012

Talisman Slashes Capex 25% on Weak Natural Gas Prices

Talisman Energy Inc.’s North American production from ongoing operations experienced a healthy increase in 3Q2012, but weak natural gas prices have the company and its new CEO, Hal N. Kvisle, trimming capital expenses (capex) as part of a plan to run a more streamlined operation in 2013.

November 1, 2012

Weak Natural Gas Prices Prompt 25% Capex Cut at Talisman

Talisman Energy Inc.’s North American production from ongoing operations experienced a healthy increase in 3Q2012, but weak natural gas prices have the company and its new CEO, Hal N. Kvisle, trimming capital expenses (capex) as part of a plan to run a more streamlined operation in 2013.

November 1, 2012

Traders Scramble, Prices Surge Following Chesapeake Cuts

Cash markets out West and at most points throughout the country posted healthy gains as an early announcement by Chesapeake Energy that they would shut in wells and cut back drilling (see related story) boosted quotes across the board with the exception of a few New England and Eastern Seaboard points. Futures responded in kind on heavy trading volume, yet traders were circumspect about whether the market was ready to completely put the brakes on its pervasive downtrend.

January 24, 2012

Eagle Ford Is a Star in Marathon’s 2012 Plans

A healthy slice of Marathon Oil Corp.’s $4.8 billion capital, investment and exploration budget for next year is targeted at the Eagle Ford Shale play in South Texas as the company continues to focus on liquids-rich assets in the United States.

December 12, 2011

Traders Sensing Market Shift Send Futures Higher

October natural gas tacked on another healthy gain Wednesday and settled above $4 as traders noted considerable angst among holders of short positions feeling that they did not want to get caught on the wrong side of any market move higher. At the close October had risen 5.9 cents to $4.039 and November had gained 6.3 cents to $4.117. October crude oil dropped for the day by $1.30 to $88.91/bbl.

September 15, 2011

Traders Upbeat, Yet August Retreats

August natural gas fell in light, pre-holiday trading as traders still maintained an upward bias but noted that healthy production levels still remain a formidable force for the bulls to counter. At the close August had fallen 6.3 cents to $4.311 and September had slipped 6.3 cents as well to $4.330. August crude oil softened 48 cents to $94.94/bbl.

July 5, 2011

May Carves Out 24-Cent Range Post EIA Report, Lands in Plus Column

May natural gas futures staged a healthy late-session rally Thursday to close in positive territory after surviving what could have been a damaging blow to the bullish cause after the release of government inventory data. At the end of the day May futures were 3.4 cents higher at $4.389 and June rose 3.2 cents to settle at $4.458. May crude oil vaulted $2.45 to $106.72/bbl.

April 1, 2011

Upstream M&A Surge in Late 2009 Seen on Course to Continue

Upstream mergers and acquisitions (M&A) staged a strong recovery by the end of 2009 and a “healthy” transaction level is on course to continue through 2010, according to a new review by energy consultant Wood Mackenzie.

February 22, 2010
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