Jump

Chevron Corp., the second largest U.S. energy company, on Friday reported its largest profit jump in at least 10 years, exceeding Wall Street estimates.

Getting a big boost from the jump of 21.7 cents by May futures going into the holiday weekend, spot prices rose by double-digit amounts at all points Monday. Increases in cooling load across the South and some residual heating demand in parts of the West, as well as the return of industrial load following a long holiday weekend, also contributed to the cash bullishness.

Getting a big boost from the jump of 21.7 cents by May futures going into the holiday weekend, spot prices rose by double-digit amounts at all points Monday. Increases in cooling load across the South and some residual heating demand in parts of the West, as well as the return of industrial load following a long holiday weekend, also contributed to the cash bullishness.

El Paso Corp., which reported a 62% jump in profits in the last three months of 2009, is seeing a significant increase in industrial use and “signs of a turnaround” in its natural gas pipeline unit, as well as a “supply push” from its U.S. shales, the company’s pipeline chief said last week.

Questar Corp.’s exploration and production (E&P) unit, which continued to be hobbled by realized gas prices in 4Q2009, saw production jump to just over 600 MMcfe/d, up 46% from 4Q2008, driven by strong growth from the company’s Haynesville Shale, Woodford Shale and Pinedale Anticline plays.

Questar Corp.’s exploration and production (E&P) unit, which continued to be hobbled by realized gas prices in 4Q2009, saw production jump to just over 600 MMcfe/d, up 46% from 4Q2008, driven by strong growth from the company’s Haynesville Shale, Woodford Shale and Pinedale Anticline plays.

A pair of bills that would help to jump start the economy and employment, improve national security and promote one of the nation’s most important and plentiful resources — natural gas — are “ready for action” when Congress reconvenes this week, according to independent oil billionaire T. Boone Pickens.

A pair of bills that would help to jump start the economy and employment, improve national security and promote one of the nation’s most important and plentiful resources — natural gas — are “ready for action” when Congress reconvenes next week, according to independent oil billionaire T. Boone Pickens.

The natural gas futures roller-coaster ride, complete with ups and downs, continued into a new week as the October contract — fresh off of a 32-cent jump Friday — dropped 20.2 cents Monday to close at $3.576.