Relative

The profile of investor-owned companies (IOC) relative to their national oil company (NOC) peers has declined over the last 40 years as NOCs have taken greater control of their home territories and have made significant inroads into the international arena, according to a report by IHS Cambridge Energy Research Associates (IHS CERA) done in conjunction with Deloitte.

Despite relative calm during the first two months of the 2010 hurricane season, unusually warm sea surface temperatures in the tropical and North Atlantic and the development of a La Nina event in the Pacific are still likely to produce as many as 18 named storms, including 10 hurricanes, five of them intense (Category 3 or greater), before the season ends Nov. 30, according to Colorado State University (CSU) forecasters.

The profile of investor-owned companies (IOC) relative to their national oil company (NOC) peers has declined over the last 40 years as NOCs have taken greater control of their home territories and have made significant inroads into the international arena, according to a report by IHS Cambridge Energy Research Associates (IHS CERA) done in conjunction with Deloitte.

After posting a 22% first quarter decline in drilling activity relative to the same period a year ago, U.S. and oil and natural gas drilling staged a turnaround in the second quarter, with well completions rising 38% in the second quarter, according to a new report issued by the American Petroleum Institute (API). But natural gas, which has held the lead in drilling for most of the decade, is now lagging oil.

After posting a 22% first quarter decline in drilling activity relative to the same period a year ago, U.S. and oil and natural gas drilling staged a turnaround in the second quarter, with well completions rising 38% in the second quarter, according to a new report issued by the American Petroleum Institute (API). But natural gas, which has held the lead in drilling for most of the decade, is now lagging oil.

Relative to crude oil, the long-term outlook for strength in natural gas prices “has some significant headwinds,” according to Tudor, Pickering, Holt & Co. LLC (TPH) Managing Director David Pursell. But while there is plenty to worry about in the gas patch — oversupply, for one — liquefied natural gas (LNG) imports are not among the threats to gas producers, he said.

Relative to crude oil, the long-term outlook for strength in natural gas prices “has some significant headwinds,” according to Tudor, Pickering, Holt & Co. LLC (TPH) Managing Director David Pursell. But while there is plenty to worry about in the gas patch — oversupply, for one — liquefied natural gas (LNG) imports are not among the threats to gas producers, he said.

There was still a pretty large amount of heating load remaining Monday, but the relative overall moderation from last week allowed prices to plunge by large amounts at all points. Northeast citygates, which had constituted the only stronger market area Friday, led the descent with multi-dollar dives; Transco’s two Zone 6 pools fell by about $6 or a little less.

September natural gas futures stretched their losing streak to five for the week on Friday but relative to the economy-dependent crude oil market fared reasonably well.