Massive

April futures were confined to a narrow range Friday but managed to eke out a modest gain. The massive earthquake in Japan found its way into crude oil and natural gas trading, and the unwinding of long crude oil and short natural gas positions prompted a firm tone to the market.

Petrohawk Energy Corp. announced Tuesday that test wells using a new flow-channel fracturing technique called HiWAY — created by Houston-based Schlumberger Ltd. — yielded increased production and it plans to expand use of the technology.

Next-day Electric Reliability Council of Texas (ERCOT) power prices dug deep into triple digits Wednesday in the wake of a massive winter storm.

Interior Secretary Ken Salazar Tuesday said the department is weighing how it will move forward with a policy requiring producers to disclose the fluids associated with hydraulic fracturing (fracking) on public lands. Interior’s Bureau of Land Management (BLM) oversees 250 million acres, which contains 11% of the nation’s natural gas supply.

Developing Nexen Inc.’s massive shale gas position in northeastern British Columbia (BC) is on the to-do list for 2011, CEO Marvin Romanow said last week.

Developing Nexen Inc.’s massive shale gas position in northeastern British Columbia (BC) is on the to-do list for 2011, CEO Marvin Romanow said this week.

Untapped unconventional gas plays still exist in pockets across North America, but domestic producers are branching out to test prospects in Europe, the Asian Pacific area, Africa and elsewhere to stake their claims in the next big shale plays.

Natural gas production and rig counts have “diverged materially since 2008,” suggesting that “rig productivity” is the force behind massive supply growth, Barclays Capital energy analysts said last week.

The Department of Justice (DOJ) last Monday signaled that it may file a lawsuit against BP plc and other companies for civil violations involving the massive oil spill in the Gulf of Mexico.