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SM Energy Co. said it plans to spend $1.04 billion next year, $830 million of that on drilling, mostly in the Eagle Ford Shale and the Bakken/Three Forks in the Williston Basin. The company’s putting its money in “all the right places,” according to an analyst at Tudor, Pickering, Holt & Co. Securities Inc.

SM Energy Co. said it plans to spend $1.04 billion next year, $830 million of that on drilling, mostly in the Eagle Ford Shale and the Bakken/Three Forks in the Williston Basin. The company’s putting its money in “all the right places,” according to an analyst at Tudor, Pickering, Holt & Co. Securities Inc.

ConocoPhillips during 3Q2010 curtailed about 180 MMcfe/d in North America, mostly in Western Canada, in response to continuing low natural gas prices, the producer said last Wednesday.

ConocoPhillips during 3Q2010 curtailed about 180 MMcfe/d in North America, mostly in Western Canada, in response to continuing low natural gas prices, the producer said Wednesday.

It has been conventional wisdom that with gas rig counts beginning a slow decline recently, production is still rising overall because it is mostly rigs being deactivated in conventional plays rather than those involved in the more prolific shale gas search. However, some market watchers are not buying that argument.

Concho Resources Inc. said Thursday it is looking to divest “certain Permian Basin properties” because they are mostly not in the company’s core areas of operation and because they have a higher per-unit cost than Concho’s existing portfolio of assets.

Concho Resources Inc. said late last week it is looking to divest “certain Permian Basin properties” because they are mostly not in the company’s core areas of operation and because they have a higher per-unit cost than Concho’s existing portfolio of assets.

The cash market was showing growing signs of weakness as the mostly single-digit declines that had slightly dominated weekend numbers Friday got larger in nearly all cases Monday. Forecasts of peak temperatures ranging from around 90 to either side of 100 stretched from the South Atlantic area through Oklahoma and Texas into much of the desert Southwest, but moderate to cool conditions continue to reign in the rest of the U.S. and Canada.

The market appeared to be bowing a bit lower than before Friday in acknowledgment of the mostly moderate weather fundamentals that it had largely been defying in the previous two weeks. Even a 6.7-cent gain a day earlier by October futures in the face of an obviously bearish storage injection report failed to prevent a modest majority of points from seeing small declines for the weekend.