Alberta natural gas royalties, a health benchmark of the Canadian supply industry, plunged to their lowest level in a generation in the government fiscal year that ended March 31.
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Alberta’s NatGas Royalties Were Anemic Last Fiscal Year
Alberta natural gas royalties, a health benchmark of the Canadian supply industry, plunged to their lowest level in a generation in the government fiscal year that ended March 31.
Northeast Leads Broad Decline, But Futures Stay In Range
Physical natural gas prices on average plunged 77 cents Monday, but free-falling prices on Northeast pipelines such as Algonquin, Iroquois and portions of Tennessee and Transco skewed the results. If those points are taken out of the mix, the decline was 10 cents. At the close of futures trading March had fallen 0.7 cent to $3.279 and April was down 0.9 cent to $3.346. March crude oil added $1.31 to $97.03/bbl.
McMoRan Reports Big Losses for 4Q, Year
Gulf of Mexico operator McMoRan Exploration Co. on Friday reported a big loss in the final three months of 2012 because of impairments and a sharp revenue decrease related in part to its gassy shallow-water operations.
Chevron Sees Quarterly Losses on Output, Price Declines
Chevron Corp. on Friday said net income plunged in 3Q2012 by one-third from a year ago on lower production and lower sales prices.
Cash Gains, But Lean Build Report Fails to Rally Futures
Overall cash prices Thursday rose a penny on average, but the modest change belies regional swings. The Northeast plunged as pipeline supplies from the Canadian Maritimes returned, and southern California rose as the area remained in the grip of a heat wave.
API: Quarterly U.S. Gas Well Completions Drop 24%
U.S. natural gas well completions plunged by an estimated 24% from April through June, while oil well completions continued to steadily rise, according to the latest statistics from the American Petroleum Institute (API).
Nearly All Cash Markets Shine, But Marcellus Swoons
Nearly all points scored double-digit gains, but Tennessee reported limited capacity available out of the Marcellus Basin and prices there plunged. Overall, physical prices for weekend and Monday delivery gained about 17 cents with Rockies and Midcontinent prices showing strong gains and Northeast and Southern California price rises somewhat more subdued.
Freefall? February Dives to 10-Year Winter Low
Prompt-month natural gas futures plunged to the lowest point in 28 months and lowest winter-month point in 10 years Wednesday as unrelenting warmer-than-normal forecasts across important eastern and Midwest energy markets forced traders to anticipate continued growth in an already burdensome storage surplus. At the close of trading February settled down 16.7 cents at $2.774 and March had fallen 16.7 cents as well to $2.803. February crude oil shed $1.37 to $100.87/bbl.
The Gas Just Keeps On Coming; January Collapses
January natural gas plunged Wednesday as traders attempted to factor in an ever-increasing storage surplus and noted continued mild weather projections. At the close January had tumbled 14.3 cents to $3.136 and February had fallen 13.4 cents to $3.187. January crude oil imploded $5.19 to $94.95/bbl.