The long and winding road to passing a drilling impact fee in Pennsylvania hit another pothole Wednesday when nine Republican state senators whose districts are outside the Marcellus shale signed a letter opposing restrictions on local zoning contained in the bill.
Lamented
Articles from Lamented
Storm Premium Softens, Yet Expiring September Futures Add 11.6 Cents
Expiring September natural gas futures managed a modest gain Wednesday but were well off the Gustav-induced highs of the session. Traders lamented that the uncertainties of Gustav’s path and the direction of natural gas futures were joined at the hip, but suggested that the near-term trend was higher.
Market Unable to Shift Out of Neutral
“This gas market is stuck in neutral gear,” lamented a westerntrader Monday. “We’re seeing about the same prices as on Friday, soyou could almost ‘cut and paste’ those notes into today’s report.”Sure enough, except for a moderate spike at Transco Zone 6-NYC thatwas retreating in late action, Monday’s quotes maintained thepredominantly flat market that has prevailed since last Tuesday.
Anadarko Bemoans Earnings, Boasts New Field
Anadarko Petroleum lamented low oil prices when it reportedsecond quarter net income that was about one-fifth what it was inthe same period last year. For the second quarter net incomeapplicable to common stockholders was $2.7 million Revenues were$137.6 million. By comparison, net income for the second quarter of1997 was $13.8 million on revenues of $139 million.