The cash market outpaced futures and overall gained an average of 6 cents in Friday’s trading for Oct.1 gas. Traders wrapped up September deals on Thursday, but most Eastern and Midwest points made solid gains as cold weather started to creep into near-term forecasts, and Gulf points rose as traders cited end-of-month balancing.
Outpaced
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API: Third Quarter Oil Drilling Double That for Gas
Oil well drilling significantly outpaced natural gas activity in the third quarter, the American Petroleum Institute (API) reported Wednesday. For every two oil wells that were completed during the period, only one gas well was completed.
EIA: Demand Significantly Outpaced U.S. Production in 2007
U.S. natural gas consumption significantly outpaced domestic production in 2007, keeping Henry Hub spot prices on average north of $7 for the year, the Energy Information Administration (EIA) said last Tuesday in its Short-Term Energy Outlook for January.
EIA: Demand Significantly Outpaced U.S. Production in 2007
U.S. natural gas consumption significantly outpaced domestic production in 2007, keeping Henry Hub spot prices on average north of $7 for the year, the Energy Information Administration (EIA) said Tuesday in its Short-Term Energy Outlook for January.
Chesapeake Still Balancing Acquisition, Drill-Bit Strategy
Oil and natural gas price increases have “far outpaced” acquisition cost increases because margins matter, not the “per Mcfe sticker price,” Chesapeake Energy Corp. CEO Aubrey McClendon said last week. Holding to that strategy, the Oklahoma City-based independent plans to continue to acquire more domestic onshore assets to increase its ever-growing gas reserves.
Chesapeake CEO Says Acquisition, Drill-Bit Growth to Continue
Oil and natural gas price increases have “far outpaced” acquisition cost increases because margins matter, not the “per Mcfe sticker price,” Chesapeake Energy Corp. CEO Aubrey McClendon said Tuesday. Holding to that strategy, the Oklahoma City-based independent plans to continue to acquire more domestic onshore assets to increase its ever-growing gas reserves.
New Upticks Have Some Wondering: How High Can It Go?
Although it was eventually far outpaced by a soaring screen, the cash market did make some effort to keep up Monday. Nearly all points rose between 2-3 cents and about 15 cents, with gains on either side of a dime being most prevalent. Sources in several areas, however, reported lower numbers in late deals. A Northeast buyer said Transco Zone 6-NYC started in the mid $3.20s but was about a dime lower at the end.