Jumped

ONEOK Partners LP has placed into service its 100 MMcf/d gas processing facility in eastern McKenzie County in North Dakota. The Garden Creek Plant is serving producers in the Bakken Shale region.

BP plc’s share price on Tuesday jumped more than 4% after CEO Bob Dudley said the company this month had reached an “operational turning point.”

Range Resources Corp.’s stock price on Wednesday jumped almost 20% in early trading after reports surfaced that Royal Dutch Shell plc or another major oil company might make a bid for the company.

October natural gas futures jumped Tuesday on largely technical factors as traders hinted that any confirmation of a market bottom would require weathering the vagaries of Thursday’s inventory report. October rose 7.9 cents to $3.909 and November added 6.9 cents to $4.024. October crude oil added $1.63 to $88.90/bbl.

Natural gas development in the Pennsylvania Marcellus Shale has been economically beneficial, but maybe not as much as some studies have suggested, according to research by Pennsylvania State University.

Industry spending in the Pennsylvania portion of the Marcellus Shale jumped from $3.2 billion in 2008 to an estimated $12.7 billion this year and could top $14.6 billion in 2012, according to a Pennsylvania State University study commissioned by the Marcellus Shale Coalition.

Southern Union Co.’s share price on Friday jumped by double-digits after Williams extended a lucrative merger offer to counter one made earlier this month by Energy Transfer Equity LP (ETE).

President Obama last Tuesday jumped at the opportunity to possibly eliminate tax breaks for the oil and gas industry, urging congressional leaders “to take immediate action” after comments by House Speaker John Boehner (R-OH) seemed to indicate that he was receptive to the idea.

President Obama on Tuesday jumped at the opportunity to possibly eliminate tax breaks for the oil and gas industry, urging congressional leaders “to take immediate action” after comments by House Speaker John Boehner (R-OH) seemed to indicate that he was receptive to the idea.