Performance

Two technology firms on Thursday partnered to create an engineering and geoscience “solution” to allow unconventional oil and gas operators to incorporate microseismic data and hydraulic fracturing designs to help them model their well fractures.

Draft rules to be issued later this week by Canadian officials would set a performance standard for coal-fired plants based on emissions levels from high-efficiency natural gas generation.

BP plc’s operating performance remains “satisfactory overall,” which merits a revised outlook to “stable” from “negative,” Standard & Poor’s Ratings Services (S&P) said Wednesday.

July natural gas on Thursday repeated its performance of a week ago and fell hard following the release of seemingly constructive inventory data. The Energy Information Administration (EIA) reported an increase of 69 Bcf in its weekly inventory report, well below historical averages, but prices suffered a double-digit loss. At the close July had fallen 16.5 cents to $4.412 and August dropped 16.1 cents to $4.450. July crude oil added 14 cents to $94.95/bbl after declining $4.56 in Wednesday’s trading.

A solid performance in North America’s onshore during the first three months of 2011 lifted Halliburton Co.’s profits from a year ago, helping to overcome the losses in the Gulf of Mexico (GOM) and geopolitical turmoil overseas, CEO Dave Lesar said Monday.

A California-based company, which now provides produced water services to several shale producers, on Tuesday said an Encana Corp. subsidiary would be the sole fuel supplier for its new fleet of liquefied natural gas (LNG) trucks, which initially would service Haynesville Shale producers.

Market bulls were hoping for a repeat of last week’s market performance when a surprise 56 Bcf withdrawal figure from the Energy Information Administration (EIA) was about 10 Bcf greater than anticipated and April futures subsequently jumped 22 cents to close over $4 and begin the current trend higher. Bulls were not quite so lucky this week. The EIA reported a 6 Bcf withdrawal for the week ended March 18, which was right in line with traders’ expectations and prices slumped. At the close April futures were 9.1 cents lower at $4.244 and May dropped 8.5 cents to $4.327. May crude oil eased 15 cents to $105.60/bbl.

Better-than-expected performance in the Marcellus Shale helped Cabot Oil & Gas Corp.’s shareholders kick the stock almost 13% higher on Wednesday, the day the producer released its latest quarterly earnings.

Better-than-expected performance in the Marcellus Shale helped Cabot Oil & Gas Corp.’s shareholders kick the stock almost 13% higher on Wednesday.