Index

Oil and natural gas activity across the Midcontinent “improved considerably” during the second quarter, and the outlook for future activity has turned positive for the first time this year, the Federal Reserve Bank of Kansas City said Friday.

U.S. oil and natural gas executives saw business activity remarkably improve in Texas, northern Louisiana and southern New Mexico during the second quarter, and most now expect to see higher oil and natural gas prices within a year, the Federal Reserve Bank of Dallas said Wednesday.

Over the last two decades, the natural gas market has seen prices rise and fall, volatility wax and wane; while supply has ballooned and some liquidity has been lost to the departure of large bank trading shops. Price indexes are still very much a part of the game, but these days they are suffering a bit — in part from their own success.

Cameron International Corp. stockholders have overwhelmingly voted for the proposed $14.8 billion takeover by Schlumberger Ltd. (see Shale Daily,Aug. 27). Once the transaction is completed, which is expected in early 2016, each share of Cameron common stock would convert into the right to receive 0.716 shares of Schlumberger stock and a cash payment of $14.44/share. The merger partners said the transaction would create the first “complete” drilling and production services oilfield operator with “pore-to-pipeline” products and services. The deal remains subject to regulatory approvals.

May bidweek trading was something of a subdued affair, with most points falling anywhere from a nickel to a dime.

May bidweek trading was something of a subdued affair, with most points falling anywhere from a nickel to a dime.

With U.S. oil and gas producers continuing to do their thing, America’s energy security continues to grow, according to the latest U.S. Chamber of Commerce assessment.

The United States has climbed in the rankings of the world’s most energy secure countries, according to a ranking compiled by the U.S. Chamber of Commerce Institute for 21st Century Energy.

Crude oil prices, permits to drill and industry employment all surged in July to boost the Texas Petro Index (TPI) by 3.5 points — the largest month-to-month increase in 18 months — to a record 287.7. The previous record was set in 2008.