Marked

While low volatility and volumes marked the North American natural gas futures market in the first quarter, IntercontinentalExchange (ICE) has noted a strengthening in volume trends in both March and April, driven by increasing natural gas prices. Convinced of the globalization of the natural gas market, ICE is looking to establish a European marker.

Hess Corp. last week marked the culmination of its multi-year strategic makeover into becoming a pure-play exploration and production (E&P) company by announcing it would be “fully exiting” the downstream and selling its retail, energy marketing and energy trading businesses. It also plans to install six new independent directors. However, the actions are not enough, a dissident shareholder said.

Hess Corp. on Monday marked the culmination of its multi-year strategic makeover into becoming a pure-play exploration and production (E&P) company. The company is “fully exiting” the downstream and selling its retail, energy marketing and energy trading businesses. It also plans to install six new independent directors.

Energy analysts and the market weighed in Wednesday on the news that natural gas pioneer and industry cheerleader Aubrey K. McClendon, co-founder, CEO and president of Chesapeake Energy Corp., is retiring effective April 1. His departure would end one point of controversy, but it won’t solve the problems facing the producer, according to some.

Canada’s natural gas industry will see a difficult market over the next several years, marked by lower prices, falling production and a decline in exports to the United States, but unconventionals will turn around the economy once new export terminals are completed in British Columbia (BC), the Conference Board of Canada said Monday.

When the Pennsylvania General Assembly passed Act 13, its omnibus Marcellus Shale law, in February, it marked the end of three years of legislative wrangling and the beginning of a period of legal interpretation.

QEP Resources Inc. said Thursday it would devote most of its capital expenditures (capex) for the 2012 fiscal year to crude oil and liquids-rich natural gas plays, and would look to boost annual production.

A year after the fatal Pacific Gas and Electric Co. (PG&E) San Bruno, CA, pipeline rupture, California’s two other state-regulated pipe operators offer a marked contrast when it comes to safety practices. They vary greatly from each other as well as from PG&E.

In a session marked by few energy bills making it through, the Colorado legislature called it a session earlier in May with the most significant oil/gas industry item passed being a technical bill for implementing the state plan for lessening haze (HB 1291).