Comstock’s Now and Later Plays: Eagle Ford, Haynesville

With the proceeds counted from the sale of its Permian Basin acreage earlier this year, Frisco, TX-based Comstock Resources Inc. is squarely focused on the Eagle Ford Shale of South Texas, where it is drilling longer-lateral wells for less money in fewer days and looking for bolt-on acreage acquisitions. The Haynesville Shale will have to wait.

July 31, 2013

Nabors Sees ‘Pronounced’ Shortfall in Pressure Pumping, Top Drives

Oilfield services giant Nabors Industries Ltd. on Tuesday warned that operating results for the second quarter will fall below consensus estimates because of a “pronounced” shortfall in the pressure pumping and top drive completion service lines.

July 11, 2013
Sinopec Claims Half-Stake in Chesapeake’s Mississippian Lime

Sinopec Claims Half-Stake in Chesapeake’s Mississippian Lime

Chesapeake Energy Corp. has begun operating its 850,000 net acre leasehold in the Mississippian Lime jointly with China’s Sinopec International Petroleum Exploration Corp. after the duo completed a $1 billion-plus joint venture (JV) agreement.

July 2, 2013

Northeast, East Lead Cash Lower, But Futures Swoon

Physical natural gas overall fell 2 cents in Thursday’s trading, but that followed the typical Thursday script of traders getting their deals done prior to the release of Energy Information Administration (EIA) inventory data.

June 28, 2013

Northeast, East Lead Broad Decline; Futures Down Again

Cash quotes overall fell 7 cents Tuesday as Northeast points reacted to an expected moderation in temperatures as well as weaker power prices and led the march lower. Eastern points weren’t too far behind, and gas for delivery Wednesday into the Great Lakes area slid about a nickel. July natural gas slid 9.2 cents to $3.647 and August dropped 9.0 cents to $3.670. August crude oil added 14 cents to $95.32/bbl.

June 26, 2013

Weather Seen As Non-Event; Cash Eases, But Futures Slide A Dime

Overall, cash prices fell 3 cents Friday in a broad retreat as only a handful of points made it to the positive side of the trading ledger. Offsetting the pervasive selling was the Northeast, which scored double-digit gains. Eastern locations were mixed, but the Rockies and major market trading points fell hard. At the close of futures trading, July had fallen 10.6 cents to $3.771 and August was down 10.6 cents as well to $3.793. August crude oil continued its losing ways, giving up $1.45 to $93.69/bbl.

June 24, 2013

Market Hub Prices Mixed; Futures Limp Lower

Physical gas for weekend and Monday delivery overall eased a penny as traders saw little incentive to buy a three-day package under conditions of mild expected weather and the ability to easily make intraday purchases as needed.

June 17, 2013

Northeast, East Lead Decline; Futures Stage Subdued Rally

Cash market prices overall fell 4 cents Thursday with the greatest weakness demonstrated by northeast and eastern points. To avoid unnecessary volatility, traders typically make their deals prior to the Energy Information Administration’s (EIA) release of inventory data, and in Thursday’s trading, cash and futures markets moved in opposite directions. In the West, Colorado industry groups reported that raging wildfires in the state were not impacting oil and gas.

June 14, 2013
EIA Again Pushes Natural Gas Price Forecast Higher

EIA Again Pushes Natural Gas Price Forecast Higher

Consumption of natural gas in both the United States and Mexico is on the rise, according to the U.S. Energy Information Administration (EIA), which once again revised its natural gas price forecasts upward for the rest of 2013 and 2014.

June 13, 2013

Cash Moves Higher on Warmth While July Futures Notches Three-Month Low

The overall cash market added just under a dime on average as forecasts for warmer temperatures, pipeline restrictions and higher power prices at eastern points paved the way for well-bid cash trading. Rocky Mountain quotes were firm as well. At the close of trading July futures fell 2.8 cents to $3.800 and August was off 2.7 cents to $3.821. July crude oil eased 26 cents to $95.77/bbl.

June 11, 2013
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