Month

August natural gas is set to open a penny lower Monday morning at $2.77 as traders mull a supportive technical environment and a storage picture that continues ever leaner. Overnight oil markets fell.

If oil prices stay at $50/bbl or lower for five months or longer, North Dakota’s revenue stream from the oil patch could be cut by as much as $100 million per month, state energy and tax officials said Wednesday.

November natural gas is expected to open 2 cents lower Tuesday morning at $3.88 as near-term weather forecasts don’t appear quite as constructive as late last week, yet analysts don’t see a convincing case for a concerted price slide. Overnight oil markets softened.

Bitter cold, high winds and heavy snows have been gripping much of the country — and the economy — and the same is true in the North Dakota oil patch. Drilling and production statistics for December show that even heavy industrial activities like drilling and well completion have their limits when it comes to extreme weather.

A cooler-than-normal July for much of the United States led to decreased levels of demand for natural gas and coal to fuel power plants in a trend that is expected to continue for the rest of the summer, according to data collected by Genscape Inc.

A federal district judge last Saturday rejected a bid by SandRidge Energy Inc. to dismiss an investor lawsuit that claims the Oklahoma City operator provided misleading information regarding natural gas drilling programs.

Arkansas’ gross revenue from natural gas severance taxes so far this year is trending higher than during 2011, which turned out to be a record year for gas severance tax revenue in the Natural State.

U.S. Sen. Barbara Boxer (D-CA) and others are politicizing the almost 18-month shutdown of the San Onofre Nuclear Generating Station (SONGS) in Southern California, Edison International CEO Ted Craver said Wednesday. The “favorable economics” for restarting the 2,200 MW plant are diminishing with the passage of time and no action by federal regulators, he told financial analysts in New York City.

After disconcerting Utica Shale production figures were released earlier this month by Ohio regulators, industry analysts said they were disappointed with the results of the first two test wells Halcon Resources Corp. drilled in the play, and EV Energy Partners (EVEP) said it is continuing to look for buyers interested in its holdings there.