Mississippi

June natural gas futures retreated in active trading Tuesday, as traders noted a lessening of risk from Mississippi River flooding, but a bevy of weak economic reports proved difficult to ignore. At the close June had fallen 13.6 cents to $4.182 and July was down 13.3 cents to $4.246. June crude oil shed 46 cents to $96.91/bbl.

The first liquefied natural gas (LNG) vehicle fueling station east of the Mississippi River began operation Thursday in Bridgeport, CT, setting several firsts for supplier Distrigas of Massachusetts LLC. Waste hauler Enviro Express Natural Gas LLC owns and operates the station, offering both LNG and compressed natural gas (CNG).

Approval of Noble Energy Inc.’s plans to move forward with a bypass well in the Santiago prospect in Mississippi Canyon Block 519 was a good first step, but the Interior Department needs to grease the wheels of the permitting system for drilling operations in the Gulf of Mexico (GOM), Capitol Hill lawmakers said last week.

Houston-based independent Magnum Hunter Resources Corp.’s Triad Hunter LLC unit has bought Marcellus Shale oil and gas properties and leasehold mineral interests in Wetzel County, WV, for $20 million, the company said. The assets acquired include 2,225 net contiguous acres containing 20 identified horizontal drilling locations, of which seven gross locations are currently booked as proved undeveloped. A company analysis conducted in December found that the assets contained total proved reserves of about 11.5 Bcfe (16% proved developed producing) with net production of 517 Mcfe/d (100% natural gas).

Southern lows predicted to drop to the 50 area east of the Mississippi River were contributing a small amount of heating load to the much bigger demand in Canada and from the U.S. Northeast through the Midwest into the Upper Plains. The entire cash market continued to move higher Thursday except for a flat Agua Dulce, but significantly smaller increases than the day before signaled that the week’s bullishness might be running out of steam.

Approval of Noble Energy’s plans to move forward with a bypass well in the Santiago prospect in Mississippi Canyon Block 519 was a good first step, but the Interior Department needs to grease the wheels of the permitting system for drilling operations in the Gulf of Mexico (GOM), members of the Senate Committee on Energy and Natural Resources told Interior Secretary Ken Salazar Wednesday.

PAA Natural Gas Storage LP (PNG) has agreed to acquire SG Resources Mississippi LLC, owner of the Southern Pines Energy Center gas storage facility, for $750 million.

Due to unscheduled maintenance at Mississippi River Transmission’s (MRT) Fountain Hill facilities, MRT said it will need to shut them down for a 24-hour period sometime between May 19 and May 21. During this period MRT will be unable to inject into storage at Unionville and may not schedule any volumes that result in a daily long position or accept any makeup of short positions. MRT also may not schedule IT, AOR or secondary firm transportation volumes to storage or allocate secondary firm transportation on a no-notice basis.

One day after the body of Sequent Energy Management President Douglas N. Schantz was found in the Mississippi River, the New Orleans coroner confirmed last Wednesday that Schantz had drowned after likely hitting his head while falling from the dock. Family and friends warmly remembered the executive last week.