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Oil services companies Tidewater Inc. and Halliburton Co. both warned Thursday that their previous quarter’s financial results will be below analysts’ earning expectations. Tidewater partially blamed a continued weakness in Gulf of Mexico (GOM) offshore drilling, while Halliburton cited legal costs and poor results from some joint ventures.

Slower than expected development of coalbed methane (CBM) production in the Powder River Basin of Wyoming and higher than expected CBM decline rates have forced Northern Border Partners LP to record a $219 million, or $4.73 per unit, non-cash charge in the third quarter to reflect asset and goodwill impairments for its natural gas gathering and processing business segment.

Coasting a bit on the residual effects of the previous day’s futures run-up and continuing to experience heating load from the Northeast through the Midwest and Upper Plains, cash prices saw gains at most points in Tuesday’s strong launch of the October aftermarket.

Tuesday might have looked bearish from the previous day’s vantage point, but other than some moderate softening that clustered primarily in the West, all other points ranged from flat a little more than a dime higher in a near-repeat of Monday trading. A majority of Tuesday’s gains were around a nickel or smaller.

Wednesday’s swing market was almost a mirror image of the previous day. This time single-digit declines dominated the price table instead of the increases by largely similar amounts recorded on Tuesday. One trader said the mild softness on Wednesday is what he actually had expected for both days.

The previous day’s screen weakness, along with a dearth of weather-related load outside the interior West and western portions of the South, were cited as Wednesday’s chief swing price depressants. Except for flat to substantially higher numbers for a few Rockies points, San Juan Basin and Southern California border, quotes fell by anywhere from about a nickel to a quarter Wednesday. Losses in the teens were most common.

With its merchant energy unit, National Energy Group, headed toward Chapter 11 proceedings, where its utility operations currently are stalled, PG&E Corp. Tuesday reported a first quarter net loss of $354 million, or 93 cents/share, compared to net income of $631 million, or $1.71/share, for the first quarter last year.

With its merchant energy unit, National Energy Group, headed toward Chapter 11 proceedings, where its utility operations currently are stalled, PG&E Corp. Tuesday reported a first quarter net loss of $354 million, or 93 cents/share, compared to net income of $631 million, or $1.71/share, for the first quarter last year.

What was supposed to be a rather bearish week, based on previous forecasts of above normal temperatures throughout the eastern half of the U.S., instead saw substantial price upticks nearly across the board Tuesday. Sources credited a second day of screen strength, anticipation of another report of storage withdrawals — and oh yes, vestiges of the 2002/03 winter that seems to have more lives than a cat — as the key drivers of the cash market.