The transition to U.S. oil targets by the exploration and production (E&P) industry now is complete, with operators more able to concentrate on drilling efficiencies and the higher capital outlays required, according to Canaccord Genuity.
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EEA: Futures Still Overvalued, Given Storage Levels, Warm January
While February may finally bring some cold weather, according to the latest forecasts, the natural gas futures market is still significantly overvalued, consulting firm Energy and Environmental Analysis Inc. (EEA) said in its latest Monthly Gas Update. EEA expects Henry Hub gas prices to moderate from 2005’s record high average of $8.80 and end this year at only $7.50/MMBtu. The 11-month strip of 2006 futures prices ended the day on Friday at $9.126.
January 31, 2006