Repeated

A few points again were flat to moderately higher going into the weekend, but the cash market largely repeated Thursday’s activity in recording mostly substantial declines at a large majority of locations Friday. The usual weekend drop of industrial demand and some doubt about whether the latest bout of winter-like weather would last long enough and be severe enough to put much of a dent in lingering storage surpluses over year-ago and five-year average levels apparently were responsible for many traders’ bearish moods.

A nonprofit environmental group recommends British Columbia keep a close eye on the shale gas industry, warning that expanding development in the Montney and Horn River shale plays could hamper the province’s goals of reducing greenhouse gas (GHG) emissions and put stress on water sources.

July natural gas on Thursday repeated its performance of a week ago and fell hard following the release of seemingly constructive inventory data. The Energy Information Administration (EIA) reported an increase of 69 Bcf in its weekly inventory report, well below historical averages, but prices suffered a double-digit loss. At the close July had fallen 16.5 cents to $4.412 and August dropped 16.1 cents to $4.450. July crude oil added 14 cents to $94.95/bbl after declining $4.56 in Wednesday’s trading.

The promise of continued production growth from unconventional gas plays — shales in particular — has been repeated yet again in the Energy Information Administration’s (EIA) latest production forecast. While the overall gas-directed rig count has fallen, the number of rigs targeting unconventional plays (gas and oil) has increased from last year.

Schlumberger Ltd. CEO Andrew Gould last week repeated an old adage and added something new to it, telling an industry audience in New Orleans, “if you want to find oil, you have to drill. And if you want to produce unconventional gases or oils, it is even truer.”

Schlumberger Ltd. CEO Andrew Gould repeated an old adage and added something new to it on Monday, telling an industry audience in New Orleans, “if you want to find oil, you have to drill. And if you want to produce unconventional gases or oils, it is even truer.”

Without the addition of an odorant, natural gas has almost no scent. Until recently gas producers had almost no voice on Capitol Hill. However, repeated success at unlocking gas from unconventional plays has them speaking up for policies that would make markets for their invisible and heretofore largely ignored fuel.

Without the addition of an odorant, natural gas has almost no scent. Until recently gas producers had almost no voice on Capitol Hill. However, repeated success at unlocking gas from unconventional plays has them speaking up for policies that would make markets for their invisible and heretofore largely ignored fuel.

Despite NRG Energy Inc.’s repeated rejection of a hostile takeover bid by electricity and natural gas powerhouse Exelon Corp., FERC last Thursday approved the merger of the two utility companies.