May natural gas futures rose as traders demonstrate internal market dynamics pointing to at least a market bottom if not higher prices. At the close Tuesday May futures were up 15.2 cents to $4.160 and June added 14.2 cents to $4.253. May crude oil slipped 29 cents to $84.05/bbl.
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May Jumps 15.2 Cents; Analysts Suggest Lack of Long-Term Sellers
May natural gas futures rose as traders demonstrate internal market dynamics pointing to at least a market bottom if not higher prices. At the close Tuesday May futures were up 15.2 cents to $4.160 and June added 14.2 cents to $4.253. May crude oil slipped 29 cents to $84.05/bbl.
Anadarko Boosts U.S. Onshore Spending
Financial analysts last week said all signs are pointing to Anadarko Petroleum Corp.’s ability to surpass 3 billion boe of proved reserves by year-end 2014.
IPAA Official Disputes Salazar’s Claim of Robust Leasing
Pointing to the slower pace of leasing for oil and natural gas in the first year of the Obama administration, an official with an independent producer association said Interior Secretary Ken Salazar’s tirade against oil and gas associations Tuesday was unjustified.
EnCana Sets Flexible Plan for 2009, Cuts Colorado Capex
Pointing to the uncertain economic times, EnCana Corp. pared next year’s budget by 18% over this year’s levels and said it would pursue a “conservative, prudent and flexible” program that would keep natural gas levels flat compared with this year. The company also delayed plans to split into two independent companies “until the uncertain financial markets stabilize.”
EnCana Sets Flexible Plan for 2009, Cuts Colorado Capex
Pointing to the uncertain economic times, EnCana Corp. pared next year’s budget by 18% over this year’s levels and said it would pursue a “conservative, prudent and flexible” program and would keep natural gas levels flat compared with this year. The company also delayed plans to split into two independent companies “until the uncertain financial markets stabilize.”
EIA Projection for Winter Gas Prices Remains Unchanged
Pointing to warmer-than-normal weather and still-bulging natural gas inventories, the Energy Information Administration (EIA) in its Short-Term Energy Outlook for December projected that spot gas prices would remain under $9/Mcf throughout the winter heating season. The price prognosis was basically unchanged from the EIA’s forecast last month (see NGI, Nov. 13).
EIA Projection for Winter Gas Prices Remains Unchanged
Pointing to warmer-than-normal weather and still-bulging natural gas inventories, the Energy Information Administration (EIA) in its Short-Term Energy Outlook for December projected that spot gas prices would remain under $9/Mcf throughout the winter heating season. The price prognosis was basically unchanged from the EIA’s forecast last month (see Daily GPI, Nov. 8).
Long Beach Mayor Opposes SES LNG Port
Pointing to three offshore proposals as better options, the newly elected mayor of Long Beach, CA, reiterated his opposition to siting a liquefied natural gas (LNG) receiving terminal in his city’s harbor in a published interview with the nonprofit, Alliance to Save Energy. He predicted the city council would consider the proposed LNG port site before the end of the year.
Long Beach, CA, Mayor Opposes LNG Port Terminal
Pointing to three offshore proposals as better options, the newly elected mayor of Long Beach, CA, reiterated his opposition to siting a liquefied natural gas (LNG) receiving terminal in his city’s harbor in a published interview with the nonprofit, Alliance to Save Energy. He predicted the city council would consider the proposed LNG port site before the end of the year.