Near

With natural gas working inventories remaining near record highs through the end of November, the Energy Information Administration (EIA) expects the Henry Hub spot price to average $2.78/MMBtu this year, down from $4.00/MMBtu in 2011, before rebounding to an average of $3.68/MMBtu in 2013.

With natural gas working inventories remaining near record highs through the end of November, the Energy Information Administration (EIA) expects the Henry Hub spot price to average $2.78/MMBtu this year, down from $4.00/MMBtu in 2011, before rebounding to an average of $3.68/MMBtu in 2013.

Broken Arrow, OK-based Magnolia Petroleum Plc announced successful well results in the Mississippian Lime play on Tuesday and said well costs would be recovered quickly.

TransCanada Corp. agreed to pay BP plc C$210 million to buy out the producer’s interest in the Crossfield Gas Storage facility near Edson, AB, as well as its stakes in an affiliated marketing joint venture (JV) between the two operators.

Gas-to-coal switching, which has drained some of the excess domestic gas stores, will tell the tale about 2013 natural gas prices, with gas expected to continue to gain in the first six months, while coal regains some of its losses in the second half of the year, according to Raymond James & Associates Inc.

The Ohio Department of Natural Resources (ODNR) said it has issued 431 permits for drilling horizontal wells into the Utica Shale.

Natural gas prices could strengthen over the next 18 months to two years, but there are several reasons why a near-term pricing “pause” is likely, Credit Suisse analysts said last week.

Natural gas prices could strengthen over the next 18 months to two years, but there are several reasons why a near-term pricing “pause” is likely, Credit Suisse analysts said Wednesday.

Resources for the Future (RFF) has released an update of its ongoing project to compare regulations in 31 states with current or near-future shale gas development. The latest series of maps shows more than 27 different elements of regulation nationwide.