Highest

Natural gas production from wells in New York state hit the fourth-highest level ever last year. However, production of 50.32 Bcf was off 8% from the 2007 level, according to the New York State Department of Environmental Conservation (DEC).

With natural gas demand and prices falling and U.S. inventories at their second-highest levels ever, gas exchange traded funds (ETF) are still looking bullish, according to Tom Lydon, a Newport Beach, CA-based investment consultant with Global Trends Investments.

With natural gas demand and prices falling and U.S. inventories at their second-highest levels ever, gas exchange traded funds (ETF) are still looking bullish, according to Tom Lydon, a Newport Beach, CA-based investment consultant with Global Trends Investments.

Petrohawk Energy Corp., which drilled the highest-producing well to date in the Haynesville Shale, said last week its estimated ultimate recovery (EUR) in the play has risen to 7.5 Bcfe/d based on performance data from its first 14 completed wells.

Petrohawk Energy Corp., which drilled the highest-producing well to date in the Haynesville Shale, said Wednesday its estimated ultimate recovery (EUR) in the play has risen to 7.5 Bcfe/d. The estimate is based on performance data from its first 14 completed wells.

ExxonMobil Corp. Thursday reported the highest quarterly profits ever by a public corporation, but the super major’s oil and natural gas reserves and production — despite record spending — once again failed to grow.

ExxonMobil Corp. Thursday reported the highest quarterly profits ever by a public corporation, but the super major’s oil and natural gas reserves and production — despite record spending — once again failed to grow.

Natural gas futures closed lower Monday after an opening run that took prices to the highest levels in two weeks. Reports of cooler weather in the latter half of the six- to 10-day period aided bulls, but realization of ample supplies quickly tempered their enthusiasm and prices fell. Traders also noted a continued bearish technical environment. The November contract fell 4.5 cents to $6.741 , and the December contract dropped 8.5 cents to $6.991. November crude oil rose $2.40 to $74.25.

With public sentiment shifting in favor of repealing the ban on drilling in the federal Outer Continental Shelf (OCS) to deal with record gasoline prices and the highest sustained natural gas prices ever, the issue took center stage in Washington, DC, and on the campaign trail last week.