Monster

Cash prices overall surged 7 cents higher on average Wednesday as monster gains posted at Northeast locations were more than able to offset a slumping Midcontinent. At the close of futures trading December had inched higher by one tenth of a cent to $3.692 and January had eased four tenths of a cent to $3.820. December crude oil gained 56 cents to $86.24/bbl.

The Utica Shale holds an estimated 38 Tcf of undiscovered, technically recoverable natural gas, or less than half that of the Marcellus Shale, according to the first assessment of the Appalachian Basin play by the U.S. Geological Survey (USGS). An estimated 940 million bbl of unconventional oil resources and 9 million bbl of natural gas liquids (NGL) also are trapped in Utica rock, said scientists.

Pressure pumping companies experienced a “monster” year in 2010 but even with new equipment being readied, demand is forecast to increase through the year, driven by growth in horizontal drilling and increased hydraulic fracturing (fracking) intensity, energy analysts said last week.

Pressure pumping companies experienced a “monster” year in 2010 but even with new equipment being readied, demand is forecast to increase through the year, driven by growth in horizontal drilling and increased hydraulic fracturing (fracking) intensity, energy analysts said Monday.

The combination of Akron, OH-based FirstEnergy Corp. and Allegheny Energy Inc. of Greensburg, PA, which was announced last week, would create a monster utility holding company with 10 distribution companies serving more than six million customers in Pennsylvania, Ohio, Maryland, New Jersey, New York, Virginia and West Virginia. But even with FirstEnergy’s significant nuclear generating fleet the combined company would still be heavily reliant on coal-fired plants.

Petrohawk Energy Corp. and EXCO Resources Inc. separately last week reported ramping up two “monster” natural gas wells in the Haynesville Shale in northwestern Louisiana. The results parallel reports by several other operators in the play.

Petrohawk Energy Corp. and EXCO Resources Inc. separately on Tuesday reported ramping up two “monster” natural gas wells in the Haynesville Shale in northwestern Louisiana.

It wasn’t in the forecasts or on the weather map, so where was that monster blizzard hiding? Doubtless many traders were scratching their heads over that question Tuesday as nearly all points recorded major gains despite the lack of severe cold or severe heat in almost every region.

Tampa-based TECO Power Services and Panda Energy International announced on Thursday that they have begun initial construction and site preparation work on their 2,300 MW Gila River power station in Gila Bend, AZ. The companies will build the project under a joint venture agreement.