Pleasant

Softness was moderately predominant in a mixed pricing environment Monday. Forecasts of pleasant to cool conditions Tuesday in the Midwest, Northeast and eastern end of the South resulted in drops at a majority of eastern points, although most of the Midcontinent recorded substantive gains.

A federal district court judge in Maine has dismissed a lawsuit brought by six residents of the Pleasant Point Passamaquoddy Reservation who were seeking to derail the Quoddy Bay LNG facility proposed for development on tribal land. The judge ruled the residents lacked standing and their claims were not ripe for adjudication.

With most areas destined to experience fairly pleasant Thanksgiving weekend weather, cash prices fell at a large majority of points Wednesday. It was a hodgepodge of overall softness, however, with Gulf Coast and Northeast locations tending to see mostly declines of a quarter or less, while triple-digit losses were common in the Midcontinent and West.

A federal district court judge in Maine has dismissed a lawsuit brought by six residents of the Pleasant Point Passamaquoddy Reservation who were seeking to derail the Quoddy Bay LNG facility proposed for development on tribal land. The judge ruled the residents lacked standing and their claims were not ripe for adjudication.

Forecasts of fairly pleasant early-fall weather virtually everywhere outside the southern edge of the U.S., coupled with reports that the damage to oil and gas infrastructure caused by Hurricane Rita wasn’t as bad as what had been expected, led to sharp price drops across the board Monday that were mostly in triple digits.

Mt. Pleasant, MI-based Gastar Exploration Ltd. said last week that it has closed on its previously announced Powder River Basin earn-in joint venture with Pinnacle Gas Resources Inc., a new company formed by affiliates of Riverton, WY-based Rocky Mountain Gas Inc. (RMG), Houston-based CCBM Inc. and Credit Suisse First Boston Private Equity fund.

Mt. Pleasant, MI-based Gastar Exploration Ltd. said Tuesday that it has closed on its previously announced Powder River Basin earn-in joint venture with Pinnacle Gas Resources Inc., a new company formed by affiliates of Riverton, WY-based Rocky Mountain Gas Inc. (RMG), Houston-based CCBM Inc. and Credit Suisse First Boston Private Equity fund.