Prowl

After regrouping the previous two sessions as August natural gas futures recorded a gain of 3.3 cents and a drop of 6 cents, respectively, the bears were on the prowl again on Tuesday as the prompt-month contract had 44.3 cents sliced from its value. The contract dipped below $10 on Tuesday before closing at $10.067 while August crude also got back to its recent bearish ways by dropping $3.09 to finish at $127.95/bbl.

XTO Energy Corp., which holds leases in some of the biggest natural gas prospects in the United States, is on the prowl for even more acquisitions, fueled by an expectation of $10/Mcf gas prices through at least the rest of the year.

XTO Energy Corp., which holds leases in some of the biggest natural gas prospects in the United States, is on the prowl for even more acquisitions, fueled by an expectation of $10/Mcf gas prices through at least the rest of the year.

The CEO of Linn Energy LLC said last week he’s still bullish on natural gas for the long-term and on the prowl for more gas-weighted acquisitions.

Michael Linn, the CEO of Linn Energy LLC, said Thursday he is still bullish on natural gas for the long-term, and his company is on the prowl for more gas-weighted acquisitions.

Magnum Hunter Resources Inc., whose oil and gas activities have focused on traditional exploration in the heart of the U.S. oil patch and offshore in the Gulf of Mexico, has established a new core area in the San Juan Basin, with plans to exploit an area of nearly 6 million acres through a joint coalbed methane (CBM) venture.

Magnum Hunter Resources Inc., whose oil and gas activities have focused on traditional exploration in the heart of the U.S. oil patch and offshore in the Gulf of Mexico, has established a new core area in the San Juan Basin, with plans to exploit an area of nearly 6 million acres through a joint coalbed methane (CBM) venture.

Entergy Corp. remains on the prowl for energy-related assets to buy, a top official with the utility said last week, but it remains frustrated with the asking price for those assets. Echoing comments recently made by another utility executive, Entergy CEO Wayne Leonard said that the recent wave of generator bankruptcies may result in more realistic prices for such things as power plants.

The field of firms in the U.S. formed to buy gas and power assets expanded last week after StoneCap Management LLC announced the formation of the StoneCap Group L.P., whose principals include two former Dynegy Inc. executives, Hugh Tarpley and Milton Scott.