Roughly

A roughly 20% drop in domestic drilling activity seems necessary to align exploration and production (E&P) industry cash generation and capital spending, according to an analysis by SunTrust Robinson Humphrey/the Gerdes Group (STRH).

Canada’s natural gas production last year averaged 16.8 Bcf/d — roughly 2% lower than in 2006 — but crude production jumped 7% on record high oil prices, the National Energy Board (NEB) reported last week.

Canada’s natural gas production last year averaged 16.8 Bcf/d — roughly 2% less than in 2006 — but crude production jumped 7% on record high oil prices, according to the National Energy Board (NEB).

If April-June weather is roughly in line with the National Weather Service (NWS) outlook, U.S. natural gas storage could enter July down about 500 Bcf compared with a year ago, which one analyst said may set up the potential for double-digit gas prices this summer. However, the “giddy gas bulls” are ignoring an expected increase of hydroelectric output, which could displace a lot of West Coast generation, according to another analyst.

If April-June weather is roughly in line with the National Weather Service (NWS) outlook, U.S. natural gas storage may enter July down about 500 Bcf compared to a year ago — setting up the potential for double-digit gas prices this summer, according to one energy analyst.

Transocean Inc. and GlobalSantaFe last Monday announced that their boards of directors approved a cash-and-stock deal valued at roughly $50 billion to combine the two leading offshore oil and natural gas drilling contractors.

Transocean Inc. and GlobalSantaFe announced Monday that their boards of directors approved a cash-and-stock deal valued at roughly $50 billion, as of close of business Friday, to combine the two leading offshore oil and natural gas drilling contractors.

Still floundering around in its recent trading range, which sits roughly between $6.500 and $7.500, May natural gas futures on Tuesday found early resistance at $7.020, located support a little later in the morning at $6.790, and traded between those two price levels for the remainder of the session before closing at $6.908, up 2.6 cents on the day.

In an interim production report covering April and May, ChevronTexaco reported Thursday that its U.S. oil and natural gas production was roughly flat compared with the first quarter. A small increase in liquids production offset a small decrease in natural gas, the company said.