After overcoming a series of technical glitches, the fourth iteration of the Pennsylvania Department of Environmental Protection’s (DEP) 1H2012 production report issued last week indicated that natural gas production from unconventional wells totaled 894.8 Bcf, a figure that includes Marcellus Shale wells along with some targeting the Utica Shale and other formations. The figure was more than double the 435.1 Bcf in 1H2011, although that figure only included Pennsylvania Marcellus production.
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Futures Strong Ahead of Potentially Bearish Storage Release
After overcoming an early setback, natural gas bulls stole the show for the third-straight session yesterday, as commercial traders propelled the futures market past several important technical levels. By virtue of its 12.2-cent advance and $4.301 closing price, the July contract has rebounded almost 60 cents from last Friday’s lows to notch a new three-week high.
June 13, 2001
Technical Buying Lifts July Futures Off Early Lows
Buoyed by strong commercial buying, natural gas futures shuffled higher yesterday after overcoming an extremely negative first hour of trading in which prices broke beneath Tuesday’s low at $3.79. The July contract closed at $3.914, down 6.7 cents for the session, but more than 13 cents above its low for the session.
June 1, 2001
Overcoming Mild Weather, Storage Load Boosts Prices
Gas buyers could have been forgiven Monday for modifying apopular movie’s catchphrase and screaming, “Show me the weather!” Autility buyer reporting “beautiful” conditions outdoors in theNortheast said it seemed odd that prices could continue to rise inthe face of moderate weather in most major market areas outside theSouth. Cash quotes ranged from flat to barely higher at Northeastcitygates to as much as 15 cents up at the PG&E citygate. Mostgains tended to be on either side of a nickel.
August 10, 1999
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