Heavy

April began Friday with fairly heavy snowfalls in upper New England, the eastern Midwest and even parts of the Pacific Northwest, according to The Weather Channel (TWC). But with warming trends due over the weekend, the belief that wintry weather was on its last legs except for remaining subfreezing patches in Canada resulted in softness being slightly dominant in a mixed cash market that was mostly flat or close to it.

Shale gas plays have been a magnet for energy deals, and that was even more true last year, which saw a record dollar value for upstream energy mergers and acquisitions (M&A), driven largely by shale-related activity, according to consultancy Wood Mackenzie.

A lack of capacity to carry Marcellus Shale gas to New York City (NYC) along the eastern Pennsylvania border remains unresolved and will lead to a glut of supply in 2011, said Societe Generale energy analysts.

Natural gas futures took a break from the downside Wednesday as near-term weather forecasts got even chillier for a number of heavy gas-usage regions in the East. January natural gas futures recorded a high of $4.324 before closing out the regular session at $4.269, up 8.9 cents from Tuesday’s finish.

National Oilwell Varco Inc. (NOV), one of the biggest equipment manufacturers in the oilfield services industry, saw its share price jump more than 7% in heavy volume Tuesday after the company reported a huge jump in the backlog for rig equipment orders.

Heavy truck manufacturer Peterbilt Motors Co. has rolled out three natural gas-fueled models equipped with the Cummins Westport ISL-G engine, which offers a 320 hp rating and 1,000 ft-lbs. of torque. The vehicles run on either compressed or liquefied natural gas. “Our natural gas Models 384, 365 and 320 demonstrate our industry leadership in developing products that will reduce harmful emissions and provide exceptional fuel efficiency,” said Bill Jackson, Peterbilt general manager.

Heavy truck manufacturer Peterbilt Motors Co. has rolled out three natural gas-fueled models equipped with the Cummins Westport ISL-G engine, which offers a 320 hp rating and 1,000 ft-lbs. of torque. The vehicles run on either compressed or liquefied natural gas. “Our natural gas Models 384, 365 and 320 demonstrate our industry leadership in developing products that will reduce harmful emissions and provide exceptional fuel efficiency,” said Bill Jackson, Peterbilt general manager.

A sharp reversal in the near-term weather forecast prompted heavy buying of natural gas futures Monday. Short-term traders suggested the market still had room to advance further, but also saw the day’s advance as a prime selling opportunity.

A sharp reversal in the near-term weather forecast prompted heavy buying of natural gas futures Monday. Short-term traders suggested the market still had room to advance further, but also saw the day’s advance as a prime selling opportunity.