Numbers

Lows slipping into the low to mid teens Tuesday and often accompanied by snow generated higher numbers, including some triple-digit spikes in the Northeast and a few other locations Monday. However, reflecting some weather moderation and easing of supply tightness since late last week, most of the market recorded losses.

Robust gas production and storage numbers, coupled with low prices, create a “volatile and tricky” gas market, analyst says. read more

With two weeks still left in 2010, Range Resources Corp. said Wednesday it has more than doubled its Marcellus Shale production year/year.

Chesapeake Energy Corp. CEO Aubrey McClendon continues to put his money where the shale is, most recently by adding another 500,000 net acres to the company’s million-plus acre leasehold in the Marcellus Shale.

Even with three days of flat to much stronger pricing Monday through Wednesday, only Marcellus Shale numbers in northeast Pennsylvania were able to eke out a small gain during the week ending Thursday. Other plays fell 6-12 cents during that period.

A Barnett Shale landowner is suing units of Chesapeake Energy Corp. alleging underpayment of royalties via a scheme involving gas sales to an affiliate at less than full value. The lawsuit seeks class action status.

Thursday’s cash market was a near-repeat of the one a day earlier. Flat to modestly higher numbers again dominated at eastern points, while most of the moderate softness remained concentrated in the West.

A few points had held out with flat to mildly higher prices a day earlier, but all of the cash market was united in falling numbers Thursday as moderate spring weather and weak futures ganged up to depress physical prices.

A few points had held out with flat to mildly higher prices a day earlier, but all of the cash market was united in falling numbers Thursday as moderate spring weather and weak futures ganged up to depress physical prices.