Jumping

While much of the East Coast was still digging out from Sunday’s blizzard, as evidenced by some cash point averages jumping several dollars for Tuesday delivery, natural gas futures traders on Monday were focusing on the future, which is why the January contract — a day ahead of expiration — dipped below $4 for the third time in two weeks before rallying to close at $4.112, up 2.9 cents from last Thursday’s finish.

By 2030 worldwide natural gas consumption will have increased 32%, jumping to 153 Tcf compared with 104 Tcf in 2006, according to the Energy Information Administration’s (EIA) International Energy Outlook 2009 (IEO2009).

By 2030 worldwide natural gas consumption will have increased 32%, jumping to 153 Tcf compared with 104 Tcf in 2006, according to the Energy Information Administration’s (EIA) International Energy Outlook 2009 (IEO2009).

Despite having to shut in 3 Bcf in 3Q2008, Ultra Petroleum Corp. saw its natural gas and oil output from continuing operations up 35% and profit jumping 227% from the same period a year ago. Double Eagle Petroleum Corp., which like Ultra operates in the Rocky Mountains, also hit on all cylinders during the quarter, with its gas output up 149% from 3Q2007.

Despite having to shut in 3 Bcf in 3Q2008, Ultra Petroleum Corp. saw its natural gas and oil output from continuing operations up 35% and profit jumping 227% from the same period a year ago. Double Eagle Petroleum Corp., which like Ultra operates in the Rocky Mountains, also hit on all cylinders during the quarter, with its gas output up 149% from 3Q2007.

In a bit of encouraging news for Rocky Mountain oil and natural gas producers, the U.S. Fish and Wildlife Service (FWS) plans to remove the Preble’s meadow jumping mouse from the federal threatened species list in Wyoming. However, the mouse for now will remain listed as threatened in Colorado. The FWS said the mouse may be delisted in Wyoming because testing has confirmed that the habitat is no longer at risk from over development. Many of the mice found through testing were located on farmland and ranchland that is not considered at risk for development. However, in Colorado, the FWS noted that development continues to threaten the mouse habitat. “Much of Preble’s riparian habitat in Colorado has been severely altered or destroyed by human activities,” said Steve Guertin, director of the FWS Mountain-Prairie Region. “Continued rapid development is expected along Colorado’s Front Range as the population continues to grow. Without the protection of the federal Endangered Species Act, much of Preble’s habitat would be lost.” The nocturnal mammal, which has a tail twice the length of its three-inch body, mostly lives in streamside habitats near thick vegetation in the foothills of southeastern Wyoming and along the Front Range in Colorado, according to FWS. The mouse is able to jump up to three feet to escape predators. The mouse has been listed as a threatened species since 1998. In Colorado the FWS is expected to use a team made up of state and federal wildlife officials, agricultural and business interests to work on a recovery plan for the Preble’s mouse.

ExxonMobil Corp. is jumping into what may be Canada’s most promising natural gas region: the Horn River Basin in northeastern British Columbia. The oil major has acquired 115,000 acres in the play with joint partner Imperial Oil Ltd., and the companies will begin evaluating the leasehold later this year.

ExxonMobil Corp. is jumping into what may be Canada’s most promising natural gas region: the Horn River Basin in northeastern British Columbia. The oil major has acquired 115,000 acres in the play with joint partner Imperial Oil Ltd., and the companies will begin evaluating the leasehold later this year.

The Ohio terminus of the Rockies Express Pipeline (REX) got even more popular last week as a jumping-off point to eastern markets for Rockies gas with the announcement of two more projects.