Positioned

With two weeks still left in 2010, Range Resources Corp. said Wednesday it has more than doubled its Marcellus Shale production year/year.

Southern Union Co.’s Trunkline Gas Co. has signed a precedent agreement with DCP Midstream LLC to provide long-term, firm transportation service for liquids-rich gas. DCP Midstream will be the anchor shipper on a modified portion of the Trunkline system in South Texas focusing on Eagle Ford Shale production.

February natural gas futures gained another 14.2 cents on Wednesday as traders positioned themselves for what could be confirmation Thursday morning that last week’s bone-chilling cold resulted in an all-time record natural gas storage withdrawal. The prompt-month contract closed Wednesday’s regular session at $5.733.

Western Gas Partners LP’s Chipeta midstream operations in the Uinta Basin of Utah are positioned to become the top processing hub for the region’s natural gas producers, CEO Bob Gwin said last week.

Western Gas Partners LP’s Chipeta midstream operations in the Uinta Basin of Utah are positioned to become the top processing hub for the region’s natural gas producers, CEO Bob Gwin said Wednesday.

The oil and natural gas industry is positioned to lead and benefit from the commercialization of various carbon sequestration strategies, according to a report issued Feb. 12 by Cambridge, MA-based Emerging Energy Research (EER). The report concludes that there is a potential $30-70 billion annual industry waiting to emerge by 2030 in the carbon capture and storage (CCS) business.

The oil and natural gas industry is positioned to lead and benefit from the commercialization of various carbon sequestration strategies, according to a report issued last Thursday by Cambridge, MA-based Emerging Energy Research (EER). The report concludes that there is a potential $30-70 billion annual industry waiting to emerge by 2030 in the carbon capture and storage (CCS) business.

BP plc’s CEO told shareholders and analysts Thursday that the story of 2003 was about maintaining the strength of the assets, but going forward, the oil and gas giant has set its course toward maintaining its asset and customer advantage in oil and gas markets around the world.

With three-quarters of the year complete, producers are “well positioned” to generate cash flow that exceeds drilling budgets by about 30% this year — and a similar situation in 2004 could lead to more acquisitions, according to a recent analysis by Lehman Brothers.