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California has hedged itself reasonably well against the continuing uncertainty of natural gas prices and supplies, but the state needs to foster development of more regional western transmission pipeline and storage infrastructure while also determining the long-term potential for more shale gas, given the adverse environmental impacts it can carry. This is the essence of the natural gas portion of the state’s latest Integrated Energy Policy Report (IEPR), which is predominantly focused on the electricity sector.

An “overabundance of opportunities” led Devon Energy Corp. to put all of its Gulf of Mexico (GOM) and international properties on the market and reposition itself as a “high-growth North American onshore company,” CEO Larry Nichols said last week.

An “overabundance of opportunities” led Devon Energy Corp. to put all of its Gulf of Mexico (GOM) and international properties on the market to reposition itself as a “high-growth North American onshore company,” CEO Larry Nichols said Monday.

The tremendous fundamental weakness of cash prices manifested itself again Friday with large plunges across the board. The previous day’s minuscule rally of 3.6 cents by December futures had no impact whatsoever in averting big losses throughout the physical market as the continuing mildness of mid-November weather and the rapid recovery from this year’s only substantive tropical storm-related disruption of offshore production weighed on traders’ minds.

As expected, the post-holiday rally in cash prices was unable to sustain itself any longer in the face of receding weather-based demand and weakening futures support. Quotes fell at a large majority of points Thursday, although generally by small amounts. A few flat to a little less than a nickel higher locations resulted in mixed price movement overall.

The Alberta government stepped forward last week and highlighted itself as the biggest single Canadian casualty of the natural gas price slump, with a financial statement confirming that royalties are being gutted.

The Alberta government stepped forward Wednesday and highlighted itself as the biggest single Canadian casualty of the natural gas price slump, with a financial statement confirming that royalties are being gutted.

All things being equal the Marcellus Shale could meet the gas demands of the United States for 20 years all by itself, according to the most recent study by Pennsylvania State University (Penn State). But it may not get the chance if the state imposes an onerous severance tax, producers claim.

After faltering a couple of times earlier in the week, the general bearishness of weather fundamentals reasserted itself Friday. Even with their first prior-day futures support in more than a week, prices fell at nearly all points.