Pressured

Pogo Sells Remaining GOM Stake; Strategic Realignment Ongoing

Pogo Producing Co., pressured by a major shareholder to realign the company, on Tuesday agreed to sell its remaining Gulf of Mexico (GOM) shelf properties to Energy XXI (Bermuda) Ltd. (EXXI) for $419.5 million. Pogo said its strategic alternatives process, including the sale or merger of the company and various assets, is ongoing.

April 25, 2007

Futures Drop More than 40 Cents on Weather, Petroleum Weakness

Pressured by early-week warmth and some significant weakness throughout the petroleum futures sector, December natural gas futures, in their first regular session action as front month, dropped significantly lower on Monday, recording a low of $7.400 before settling at $7.416, down 41.1 cents from Friday’s close.

October 31, 2006

Futures Drop Near $12 on Mild Weather, Long Liquidation

Christmas came early for industrials, utilities and residential natural gas customers this year as futures traders late last week pressured prices to levels not seen since late November. Central to the sell-off was end-of-year book squaring mixed with contract liquidation ahead of moderating temperatures that were expected to invade portions of the country over the weekend and this week. The January contract was the hardest hit by the selling, dropping 64 cents for the day and $1.35 for the week to close at $12.283.

December 27, 2005

Weak Demand, Rising Storage Levels Prompt Cash Prices to Fall Sharply Friday

Relatively mild weather, weak weekend demand, declining storage space and slowly returning Gulf production pressured prices much lower on Friday with quite a few points down more than a dollar and the majority off more than 60 cents from levels on Thursday.

October 17, 2005

Weak Futures, Milder Weather Push Prices Down

Pressured lower by two preceding days of screen weakness that was extended into the July contract’s expiry Tuesday and by declines of cooling demand that had either already occurred or were getting started in several areas, cash quotes fell across the board Tuesday.

June 29, 2005

Weak Fundamentals Force Mostly Lower Prices

Several flat points in the East were included in an overall softer cash market Tuesday. Prices were pressured lower by weak weather demand throughout virtually the entire market, a 9-cent screen drop the day before and the continuation of a bearish storage mentality.

May 18, 2005

Bearish 54 Bcf Injection, Crude Weakness Help NatGas Futures Continue Slide

After trading lower in the Wednesday overnight Access session, June natural gas futures continued to fall Thursday morning, pressured by a modestly bearish natural gas storage injection and weakening June crude oil futures, which slipped below the psychological $50/bbl level.

May 13, 2005

Consultants See Some Gas Price Weakness Ahead

Both Energy and Environmental Analysis (EEA) and Energy Ventures Analysis (EVA), two Arlington, VA-based energy industry consulting firms, predict that natural gas prices will be pressured lower this year — EEA says possibly as low as $4/MMBtu by the end of the gas storage injection season.

March 7, 2005

Consultants See Some Gas Price Weakness Ahead

Both Energy and Environmental Analysis (EEA) and Energy Ventures Analysis (EVA), two Arlington, VA-based energy industry consulting firms, predict that natural gas prices will be pressured lower this year — EEA says possibly as low as $4/MMBtu by the end of the gas storage injection season.

March 7, 2005

Lack of Heating Load, Screen Push All Points Lower

Finding only modest heating load outside the West, and pressured by the screen’s drop of slightly more than 60 cents the day before, swing prices for the weekend plunged Friday. Losses ranged from about C25 cents for intra-Alberta gas to a little more than 90 cents at the Algonquin citygate; nearly all were half a dollar or more.

December 6, 2004