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The physical market weakened about 3 cents on average overall Thursday with modest gains posted in the Northeast and more prevalent weakness shown at eastern, Midwest and California points.

A chilly warning that sponsors of Canada’s northern pipeline posted to their stockholders in May, during the spring round of corporate annual meetings, has turned out to be true: do not expect any government to rescue the frozen scheme, said Imperial Oil Ltd., senior partner in the Mackenzie Gas Project (MGP).

A chilly warning that sponsors of Canada’s northern pipeline posted to their stockholders in May, during the 2012 spring round of corporate annual meetings, has turned out to be true: do not expect any government to rescue the frozen scheme, said Imperial Oil Ltd., senior partner in the Mackenzie Gas Project (MGP).

An updated biannual report posted by the Pennsylvania Department of Environmental Protection (DEP) shows that the state’s natural gas production saw a more than 40% increase in the first half of 2012 compared to the second half of 2011, and more than doubled in a year.

Debt- and dry gas-laden Quicksilver Resources Inc. posted a hefty loss for the second quarter, largely due to a nearly $1 billion asset impairment reflecting low commodity prices. Last week management talked up plans to right the balance sheet and weather the low-price period with spending cuts and other measures.

Debt- and dry gas-laden Quicksilver Resources Inc. posted a hefty loss for the second quarter, largely due to a nearly $1B asset impairment reflecting low commodity prices. On Tuesday management talked up plans to right the balance sheet and weather the low-price period with spending cuts and other measures.

Westlake Chemical Corp. second quarter income from operations was up more than 23% over the year-ago period and the company posted record net income, thanks in part to lower-cost energy and feedstocks, including ethane from the shale gas boom. CEO Albert Chao told financial analysts he expects the good times to continue on the natural gas-derived feedstock front.

The Texas Petro Index (TPI), an indicator of the health of the state’s oil and gas industry compiled by a Texas Alliance of Energy Producers economist, posted its first decline in two and a half years due to declining crude prices and continuing natural gas price weakness.

Westlake Chemical Corp. second quarter income from operations was up more than 23% over the year-ago period and the company posted record net income, thanks in part to lower-cost energy and feedstocks, including ethane from the shale gas boom. CEO Albert Chao told financial analysts he expects the good times to continue on the natural gas-derived feedstock front.