natural gas

Physical gas for Wednesday delivery inched lower overall Tuesday as weakness in California and the West countered weather-driven strength at New England, Marcellus and Mid-Atlantic points. At the close of futures trading May had advanced 4.2 cents to $4.739 and June was up by 4.3 cents to $4.758. The expiring May crude oil contract tumbled $2.24 to $102.13/bbl.

The Permian Basin rig count should increase by 10% in 2014, one of the key reasons it continues to be the key to Baker Hughes Inc.’s U.S. operations, CEO Martin Craighead said Thursday.

U.S. Sens. Sherrod Brown (D-OH) and Elizabeth Warren (D-MA) Wednesday urged the Federal Reserve to curb banks from owning commodities businesses, including energy commodities, to prevent them from potentially hurting global supply chains. Energy companies, on the other hand, have said further restrictions on FHCs could harm commodities markets.

A yen for low-cost U.S. shale gas has spread all the way to India and the world’s biggest fertilizer co-operative manufacturing and distribution conglomerate.

Prospective shippers have stepped up for 448,000 Dth/d of firm capacity offered by Williams Partners LP’s Transco pipeline on its Dalton Expansion Project, which would carry Marcellus Shale gas to markets in northwest Georgia. AGL Resources Inc. has said it will help fund the Georgia lateral portion of the project.

Alaska lawmakers on Sunday gave their OK for the state to take a 25% ownership interest in a pipeline and liquefied natural gas liquefaction and export project that would commercialize the state’s long-stranded North Slope natural gas reserves.

Financial analysts had mixed views after leaving PDC Energy Inc.’s analyst day in New York City Thursday, with many expressing disappointment over the company’s long-awaited Utica Shale type curves and unchanged 2014 guidance.

The fate of Keystone XL was cast into doubt Friday when the U.S. State Department extended its fact-finding process with eight other federal agencies, putting off, for now, a long-awaited Obama administration decision on the project.

Halliburton Co. CEO Dave Lesar said Monday he was starting to feel a turn in the North American oilfield services market and is more excited about the United States and Canada than he has been since late 2011.