Pull

Weak commodity prices and tight credit markets, in part, have prompted Chesapeake Energy Corp. to pull employees from its Charleston, WV, eastern division regional headquarters for release or relocation to corporate headquarters in Oklahoma City. The move will consolidate talent as Chesapeake pursues development of the Marcellus Shale, the company said Thursday.

Natural gas shale has forever changed the energy market in North America, and the amount producers are able to pull from the rock eventually will create a practical alternative to other forms of energy, including crude oil and coal, Chesapeake Energy Corp. CEO Aubrey McClendon said last Wednesday.

Natural gas shale has forever changed the energy market in North America, and the amount producers are able to pull from the rock eventually will create a practical alternative to other forms of energy, including crude oil and coal, Chesapeake Energy Corp. CEO Aubrey McClendon said Wednesday.

Although continuing moderate weather almost everywhere outside the mountain areas of the West and bearish expectations of another subpar storage pull made it seem unlikely, the cash market achieved gains Wednesday at all but two points. One source could only speculate that there must have been some storage-futures spread purchases in play because he saw little serious heating load for Thursday except in parts of the West, Upper Plains and northern New England.

The decision by ConocoPhillips to pull its membership from the Alaska Oil and Gas Association (AOGA) leaves the lobbying group with its shortest membership roster since the group was formed in 1966.

The decision by ConocoPhillips to pull its membership from the Alaska Oil and Gas Association (AOGA) leaves the lobbying group with its shortest membership roster since the group was formed in 1966.

Alaska Gov. Frank Murkowski called on state lawmakers to pull together and approve a natural gas pipeline contract within the next month with the “Big Three” North Slope producers: BP plc, ExxonMobil Corp. and ConocoPhillips. Without approval, he warned, Alaska’s hopes to build a gas pipeline to the Lower 48 could be “slipping away.”

Alaska Gov. Frank Murkowski called on state lawmakers to pull together and approve a natural gas pipeline contract within the next month with the “Big Three” North Slope producers: BP plc, ExxonMobil Corp. and ConocoPhillips. Without approval, he warned, Alaska’s hopes to build a gas pipeline to the Lower 48 could be “slipping away.”

Natural gas storage revisions, a sizeable injection and continued weakness in crude futures teamed up Thursday to pull the June natural gas futures contract lower in its first regular session as prompt month. June natural gas hit a low of $6.780 before settling at $6.805, down 46.6 cents on the day. The June contract has shed $1.605 over the last six sessions.