Plummeting

At Schlumberger Profits Laying Down with Rigs

The plummeting North American natural gas-directed drilling rig count contributed greatly to a more than halving of profit at Schlumberger Ltd., the world’s largest oilfield services company. CEO Andrew Gould told financial analysts there is little hope for recovery this year.

July 27, 2009

Schlumberger Profit Plummets With Rig Count

The plummeting North American natural gas-directed drilling rig count contributed greatly to a more than halving of profit at Schlumberger Ltd., the world’s largest oilfield services company. CEO Andrew Gould told financial analysts there is little hope for recovery this year. The leading executives at rival firms Halliburton and Nabors Industries largely agreed.

July 27, 2009

Raymond James: NGL Margins to Stay Weak for First Half

Gas processing margins have been crushed by plummeting crude oil prices and lower demand for natural gas liquids (NGL) in the petrochemical sector; however, the second half of the year could see a rebound as crude prices strengthen, Raymond James & Associates Inc. analysts said.

January 13, 2009

Energy Analyst Sees Sub-$6 Gas Throughout 2009

The recent decline in the price of domestic natural gas came partially in sympathy with plummeting crude oil prices, “but also because of the increasing fall gas storage surplus, which has occurred despite extended [hurricane] Gustav/Ike gas shut-ins, extremely low liquefied natural gas (LNG) imports and colder-than-normal fall weather,” an energy analyst said in a review.

January 2, 2009

Tucson Electric Parent Sees Winter Gas Costs Rising

Even with wholesale natural gas prices plummeting since mid-summer, UniSource Energy Corp., the parent to Tucson Electric Co. and small combination gas-electric utility operations, announced last Wednesday that its gas costs this winter will be 8-16% higher than last winter. UniSource Energy Services (UES) purchases supplies for the parent company’s combination power and gas utility operations in Arizona.

October 13, 2008

Futures Spiral Lower as Bertha Fizzles and Summer Doesn’t Sizzle

Plummeting crude values, a near-term reduction in weather-related demand, a strong showing from the U.S. dollar and less risk from Hurricane Bertha combined on Tuesday to help August natural gas futures record its second consecutive day of a 60-cent decline. The prompt-month contract recorded a late regular session low of $12.355 before closing out the day at $12.368, down 60.9 cents from Monday’s finish.

July 9, 2008

Trident Asset Fund Says Natural Gas Futures Loss Rumors Incorrect

Addressing speculative rumors of large losses due to plummeting natural gas futures values, Houston-based energy hedge fund Trident Asset Management LP. said Friday that contrary to trader gossip, the fund has suffered “no major losses” and is doing fine, thank you very much.

July 2, 2007

Trident Asset Fund Says Natural Gas Futures Loss Rumors Incorrect

Addressing speculative rumors of large losses due to plummeting natural gas futures values, Houston-based energy hedge fund Trident Asset Management LP. said Friday that contrary to trader gossip, the fund has suffered “no major losses” and is doing fine, thank you very much.

July 2, 2007

Wood Mackenzie Examines Significant Hurdles, Promise of Lower Tertiary Trend

With annual production growth rates plummeting from 50% in the late 1990s to flat in 2004, there are clear signs that the Gulf of Mexico has matured. While the recent extended well test of the Jack field in the Lower Tertiary play in the deepwater Gulf holds promise for a production resurgence, significant challenges and enormous risks still cloud the region’s future, according to Gero Farruggio, U.S. Gulf research manager for consulting firm Wood Mackenzie.

October 16, 2006

Wood Mackenzie Examines Significant Hurdles, Promise of Lower Tertiary Trend

With annual production growth rates plummeting from 50% in the late 1990s to flat in 2004, there are clear signs that the Gulf of Mexico has matured. While the recent extended well test of the Jack field in the Lower Tertiary play in the deepwater Gulf holds promise for a production resurgence, significant challenges and enormous risks still cloud the region’s future, according to Gero Farruggio, U.S. Gulf research manager for consulting firm Wood Mackenzie.

October 16, 2006
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