Indicated

Sen. Mary Landrieu (D-LA), a centrist and friend of oil and natural gas producers, has indicated that she is working with senators from other energy-producing states to map out a strategy to try to trim President Obama’s proposed $30 billion in tax hikes on producers when budget legislation comes to the Senate floor.

Sen. Mary Landrieu (D-LA), a centrist and friend of oil and natural gas producers, has indicated that she is working with senators from other energy-producing states to map out a strategy to try to trim President Obama’s proposed $30 billion in tax hikes on producers when budget legislation comes to the Senate floor.

Onshore natural gas explorer CDX Gas LLC has filed for bankruptcy protection in U.S. Bankruptcy Court for the Southern District of Texas (No. 08-37922). The filing, which indicated the producer owes $500 million to $1 billion, would allow the Houston-based producer to restructure its finances and operations. Formed in 1991, CDX and its affiliated companies were acquired in March 2006 by investor group TCW and some co-investors. CDX operates across the United States in the Appalachian, Barnett, Arkoma, Black Warrior, Cahaba, Piceance, Uinta and San Juan basins. It extracts coalbed methane using its patented Z-Pinnate Horizontal Drilling and Completion System, which was developed for the Appalachian Basin operations.

The oil and natural gas industry’s wish list for the new Congress, Obama administration and the New Year is very short — “do no harm,” say industry representatives in Washington, DC. They indicated that their “wants and expectations” will be more moderate due the changing of the guard at both ends of Pennsylvania Avenue.

The oil and natural gas industry’s wish list for the new Congress, Obama administration and the New Year is very short — “do no harm,” say industry representatives in Washington, DC. They indicated that their “wants and expectations” will be more moderate due the changing of the guard at both ends of Pennsylvania Avenue.

Sen. Jeff Bingaman (D-NM) “has respectfully indicated” that he is not interested in the job of energy secretary in the Obama administration, a spokesman for the senator said. He believes he can do more to effect energy policy as chairman of the Senate Energy and Natural Resources Committee.

Sen. Jeff Bingaman (D-NM) “has respectfully indicated” that he is not interested in the job of energy secretary in the Obama administration, a spokesman for the senator said. He believes he can do more to effect energy policy as chairman of the Senate Energy and Natural Resources Committee.

One week after FERC dismissed Quoddy Bay LNG LLC’s application to build a liquefied natural gas (LNG) terminal in Maine, agency staff indicated Friday that the proposed pipeline that would serve rival Downeast LNG’s terminal project in Maine also faces an uncertain future due to its failure to conduct an open season, which could put the entire LNG project in jeopardy.

November natural gas futures managed a late-session rally Tuesday, but traders discounted the move and indicated that the market was largely rangebound with a bias toward lower prices. November futures rose 10.3 cents to $6.844, and December gained 9.7 cents to $7.088. November crude oil skidded $3.36 to $70.89/bbl.