Rockies

Even with sub-freezing low temperatures continuing to be predicted for Thursday from the Northeast through the Midwest and Upper Plains into the Rockies, prices fell at nearly all points Wednesday. Relatively moderate weather across most of the southern half of the U.S., increasing storage burns and the sixth consecutive day of futures weakness on Tuesday were the chief instigators of the market downturn.

The Barnett Shale in the Fort Worth Basin may be the most hyped natural gas shale area of North America, but at least one analyst is suggesting that the Canadian Maritimes abundant rock could be the next new thing.

St. Mary Land & Exploration Co. said it intends to sell a package of noncore oil and gas properties, located primarily in the Rockies and Midcontinent regions. A preliminary estimate indicates that the package represents approximately 74 Bcfe of proved oil and gas reserves, the company said. The sales price of the properties will be determined by a competitive bidding process. Denver-based St. Mary Land & Exploration will complete the divestiture in late December if it receives what it believes is an appropriate offer. The company also announced that it repurchased a total of about 791,000 shares of outstanding common stock in the open market at a weighted average cost of $32.82 a share.

Dominion has secured firm, long-term commitments to receive natural gas from Rockies Express (REX) and deliver it to major markets in the Northeast and Mid-Atlantic regions on its pipeline project named Dominion Hub I, the company said last week.

Dominion has secured firm, long-term commitments to receive natural gas from Rockies Express (REX) and deliver it to major markets in the Northeast and Mid-Atlantic regions, the company said Thursday.

While the western phase of the Rockies Express Pipeline grabbed most of the attention last Thursday, FERC also approved a number of other key pipeline and liquefied natural gas (LNG) projects, as well as two asset purchases.

While the western phase of the Rockies Express Pipeline grabbed most of the attention Thursday, FERC also approved a number of other key pipeline and liquefied natural gas (LNG) projects, as well as two asset purchases.

The re-connection of western supply basins to eastern markets by the massive Rockies Express (REX) and other pipeline projects (see related story) and the “somewhat delayed” arrival of more liquefied natural gas (LNG) imports suggests higher Henry Hub prices and “reasonable” western region locational basis, both of which will continue to facilitate development of domestic resources, according to Wood Mackenzie.

The re-connection of western supply basins to eastern markets by the massive Rockies Express (REX) and other pipeline projects and the “somewhat delayed” arrival of more liquefied natural gas (LNG) imports suggests higher Henry Hub prices and “reasonable” western region locational basis, both of which will continue to facilitate development of domestic resources, according to Wood Mackenzie.