Lowest

The recession has delivered to natural gas end-users some of the lowest commodity prices they’ve seen in years. However, the gift comes with the curse of sharply reduced demand for their own products in many cases. Of course, end-users are still buying fuel and feedstock, just less of it. And they’re still vigilant in defending their interests when it comes to supply procurement.

The recession has delivered to natural gas end-users some of the lowest commodity prices they’ve seen in years. However, the gift comes with the curse of sharply reduced demand for their own products in many cases. Of course, end-users are still buying fuel and feedstock, just less of it. And they’re still vigilant in defending their interests when it comes to supply procurement.

Drilling will drop by 41% across western Canada this year to the lowest level since 1999 as low natural gas prices pinch exploration and development budgets, predict service and supply contractors.

Drilling will drop by 41% across western Canada this year to the lowest level since 1999 as low natural gas prices pinch exploration and development budgets, predict service and supply contractors.

The oil and natural gas industry is carrying out a media blitz to educate policymakers and the general public about the market at a time when opinions of the industry are at their lowest level due to high gasoline and natural gas prices.

The contribution of exploration in 2007 to the Gulf of Mexico (GOM) deepwater’s reserve base was the lowest in the past decade, according to a new report by consultant Wood Mackenzie. Reserves found amounted to only 553 million boe — less than half the reserves found in 2006.

The contribution of exploration in 2007 to the Gulf of Mexico (GOM) deepwater’s reserve base was the lowest in the past decade, according to a new report by consultant Wood Mackenzie. Reserves found amounted to only 553 million boe — less than half the reserves found in 2006.

Natural gas futures traders Friday shrugged off the threat of tropical development over the extended, three-day weekend and sent prices to their lowest levels of the recent down move. At $5.468, the October futures contract was down 16.7 cents on the day and 27.1 cents lower for the week.

The U.S. Energy Information Administration (EIA) reported in its latest Natural Gas Monthly that domestic dry natural gas production during the month of September fell to the lowest monthly total since September 1989. According to EIA, September 2005 dry gas production totaled 1,371 Bcf, or about 252 Bcf (8.4 Bcf/d) less than the 1,623 Bcf total one month earlier in August.