Likely

Likely keying off the natural gas screen’s failure to break above $3 on Wednesday, cash points across the country came off mostly by a nickel to a dime on Thursday except for a few spots in the Northeast, which chose their own path.Natural gas futures bulls were dealt a blow Thursday morning after it was reported that a higher-than-expected 57 Bcf storage injection was recorded for the week ending June. 22. While the build was much smaller than historical comparisons, it was still bearish enough when compared to industry expectations to push futures lower on Thursday. The August contract closed the regular session at $2.722, down 7.6 cents.

Population centers in the East aren’t likely to feel the worst of this summer’s heat, according to forecasters at Andover, MA-based Weather Services International (WSI), who said in their three-month forecast that they expect most of the season’s significant heat to be felt in the Plains and Rockies.

Unconventional natural gas activity supported more than one million jobs in 2010, a number that is likely to grow to nearly 1.5 million by 2015. The industry is expected to generate significant job creation, economic growth and tax revenues nationwide — in producing and nonproducing states alike — according to a report from IHS Global Insight.

Unconventional natural gas activity supported more than one million jobs in 2010, a number that is likely to grow to nearly 1.5 million by 2015. The industry is expected to generate significant job creation, economic growth and tax revenues nationwide — in producing and non-producing states alike — according to a new report from IHS Global Insight.

North American margins for Halliburton Co. likely have been impacted “more than anticipated” in the second quarter because of the increased cost of guar gum, an additive used in hydraulic fracturing fluids, the oilfield services company said late Wednesday.

Chesapeake Energy Corp. has been downgraded again by Fitch Ratings, and on Monday two proxy services recommended against reelecting two directors at the annual meeting in June.

Of the 216 projects being planned worldwide that potentially could require floating production systems, an estimated 10% are likely to be located in the Gulf of Mexico (GOM), according to an analysis conducted by Washington, DC-based International Maritime Associates Inc. (IMA).

Physical gas prices continued to slide Thursday at nearly all points, likely helped lower by the screen’s milestone Wednesday of dropping below $2. Moderating weather in the Northeast Thursday pulled the plug on any price gains prior to the release of inventory data, and western locations weakened as well.

Researchers with the U.S. Geological Survey (USGS) said a “remarkable” increase in the number of earthquakes in the Midcontinent region is more than likely from injection wells that handle wastewater from oil and natural gas drilling.