Nudging

Texas oil and gas activity is looking up after months of declining rig counts and stagnant natural gas prices, nudging an industry barometer, the Texas Petro Index (TPI), up in March.

BP plc, which has been nudging up its natural gas position in North America’s shales in the past few years, sees its best opportunities in the next decade coming from new technology and a new company culture, CEO Tony Hayward said last week.

BP plc, which has been nudging up its natural gas position in North America’s shales in the past few years, sees its best opportunities in the next decade coming from new technology and a new company culture, CEO Tony Hayward said Tuesday.

BP plc, which has been nudging up its natural gas position in North America’s shales in the past few years, sees its best opportunities in the next decade coming from new technology and a new company culture, CEO Tony Hayward said Tuesday.

Robust commodity prices and a strong market for oil and gas properties are nudging industry small fry to the energy patch deal table, too. Houston-based Plains Exploration & Production Co. (PXP) said it is pursuing the divestiture of nonstrategic oil and gas properties, mainly in California and Texas, the company said. Separately, Midland, TX-based independent Saber Resources LLC hired Energy Spectrum Advisors Inc. (ESA) to divest all of its oil and gas interests in the Permian Basin, which are about 90% oil producing.

After nudging higher in back-to-back range-bound sessions Friday and Monday, the natural gas futures market sprang to life Tuesday as local and commercial traders used chilly weather forecasts as an excuse to bid the market higher. A brief, early afternoon sell-off was just a blip on bulls’ radar and ultimately proved to be an opportunity for them to add to their length at slightly lower levels.

After much nudging from the courts, state regulators andindustry, the Federal Energy Regulatory Commission last weekconceded defeat in its battle to justify jurisdiction over a smalllateral in Colorado.

After much nudging from the courts, state regulators andindustry, the Federal Energy Regulatory Commission last weekconceded defeat in its battle to justify jurisdiction over a smalllateral in Colorado.

In response to some nudging from the Senate, the White House hasofficially renominated Commissioner Curt Hebert Jr. to a newfive-year term at the Federal Energy Regulatory Commission. It’sexpected the Senate Energy and Natural Resources Committee willhold a hearing and vote out his renomination possibly by the Augustrecess. Until then, Hebert – whose current term expired June 30th -will continue to serve at FERC under a grace period that ends withthe current session of Congress in late October.