natural gas data

Physical natural gas traded Tuesday for Wednesday delivery fell 4 cents on average as higher prices in the Midwest, Northern Plains and Rockies, along with steady California prices were unable to offset $1-plus declines along the Eastern Seaboard. Futures prices staged a modest rebound as noon weather updates called for a healthy dose of cold temperatures by mid-month. At the close December was higher by 2.1 cents to $3.466 and January had gained 2.7 cents to $3.551. December crude oil dropped $1.25 to $93.37/bbl.

Capacity to move growing production of condensate and natural gasoline out of the Marcellus/Utica Shale region to diluent markets in Canada is being offered by Unity Pipeline Co. LLC, which is proposing a system of new pipeline, as well as pipeline to be converted from natural gas service.

Phillips 66 is planning to expand its midstream business with a liquefied petroleum gas (LPG) export terminal to be built at its existing marine terminal in Freeport, TX, the Houston-based company said.

George P. Mitchell and crew long have been credited with finding the trigger to unlock unconventional natural gas, but it was in fact a colorful cast of visionaries, oddballs and take-no-prisoner pitchmen who helped launch the United States on the road to energy independence, as told in the insightful, and at times suspenseful, new book by bestselling author Gregory Zuckerman, The Frackers: The Outrageous Inside Story of the New Billionaire Wildcatters.

Within days of a regulatory judge’s recommending a lesser penalty, one of the five members of the California Public Utilities Commission (CPUC) late Monday issued an alternate proposed decision, slapping a $17.25 million fine on Pacific Gas and Electric Co. (PG&E) for “calculated dishonesty” related to a natural gas pipeline safety issue.

Encana Corp. on Tuesday announced a bold strategy to move back into the winning column by focusing on only five North American onshore plays — down from 30 — requiring leasehold sales, a spinoff and a 20% reduction in jobs. The goal is to balance liquids and natural gas by 2017 from a limited number of assets, said CEO Doug Suttles.

The price being paid Monday for Tuesday physical natural gas delivery on average lost 2 cents as major hubs were mixed, but firm pricing on the West Coast and Eastern Seaboard was not able to offset weakness at Gulf and interior locations. At the close of futures trading, December had fallen 6.8 cents to $3.445 and January skidded 6.7 cents tp $3.524. December crude oil added a penny to $94.62/bbl.

December natural gas is expected to open 3 cents lower Friday morning at $3.55 as traders are unable to identify any fundamental weather patterns able to offset ever-increasing production. Overnight oil markets slipped.

In a private notice sent to CME Group clearing members on Friday, the trading exchange said it made a revision on Oct. 30 to the November 2013 natural gas futures contract expiration that occurred on Oct. 29.