October

October natural gas is expected to open a penny lower Friday morning at $4.03 as forecasters tweak their outlooks to the cooler side. Overnight oil markets rose.

Kinder Morgan Energy Partners LP’s (KMP) El Paso Natural Gas Co. (EPNG) has struck a 21-year deal to provide firm gas transportation capacity to Mexico’s Comision Federal de Electricidad (CFE).

Texas oil and natural gas production during October continued to climb from year-ago levels, according to preliminary data released by the Railroad Commission of Texas (RRC). Drilling permit activity is down slightly from a year ago, but the Permian Basin and Eagle Ford Shale regions continue to lead the pack for permits issued.

Heading into the Labor Day Holiday three-day weekend, physical natural gas prices on average Friday for the Sunday-Tuesday period were steady with strength at Northeast locations and an overall balanced market capable of offsetting free-falling prices at certain Marcellus points.

Denver-based Kodiak Oil & Gas Corp., which is focused on the Bakken Shale in North Dakota’s Williston Basin, grew oil and gas sales volumes by 83% during the second quarter compared to a year ago; crude oil accounted for 87% of second quarter sales. The company has raised capital spending and production guidance for the remainder of the year.

Denver-based Kodiak Oil & Gas Corp. has completed its acquisition of 42,000 net acres and associated production in North Dakota’s Williston Basin for $660 million in cash from Liberty Resources LLC. The deal included core Bakken and Three Forks producing properties in addition to undeveloped leaseholds.

Kodiak Oil & Gas Corp. has agreed to purchase 42,000 net acres and associated production in North Dakota’s Williston Basin for $660 million in cash from Liberty Resources LLC.

Planning for the proposed Bluegrass Pipeline, which would carry mixed natural gas liquids (NGL) from the Northeast to the Gulf Coast, is still in early stages, but the project has piqued the curiosity of analysts who follow Bluegrass partner Boardwalk Pipeline Partners LP.

The chief of the Ohio Department of Natural Resources’ (ODNR) Division of Oil and Gas Resources Management (DOGRM) has issued a unitization order for Chesapeake Energy Corp. in Carroll County, putting forced pooling into effect for a second time in the emerging Utica Shale.