Securities

The Securities and Exchange Commission (SEC) has released updated accounting guidance to implement the agency’s new rulemaking on the reporting of oil and natural gas reserves.

The Securities and Exchange Commission (SEC) Friday released updated accounting guidance to implement the agency’s new rulemaking on the reporting of oil and natural gas reserves.

All signs point to higher natural gas prices in early 2010, the energy team at Tudor, Pickering, Holt & Co. Securities Inc. (TPH) said Tuesday. According to TPH models, the plunge in drilling activity from the peak in 3Q2008 should result in wellhead supply declining by 5 Bcf/d, or 8%, at the end of 2009 from year-end 2008.

The United States Natural Gas Fund (UNG) won its two-month battle to issue a substantial number of new shares, but in the end it may not matter. The fund said last Wednesday that the Securities & Exchange Commission (SEC) will grant its June 5 request to issue up to one billion new limited partnership units, but because of recent regulatory changes in the energy derivatives markets, UNG “will not resume issuing units and offering Creation Baskets to its Authorized Purchasers at this time.”

The United States Natural Gas Fund (UNG) won its two-month battle to issue a substantial number of new shares, but in the end it may not matter. The fund said Wednesday that the Securities & Exchange Commission (SEC) will grant its June 5 request to issue up to one billion new limited partnership units, but because of recent regulatory changes in the energy derivatives markets, UNG “will not resume issuing units and offering Creation Baskets to its Authorized Purchasers at this time.”

The Securities Exchange Commission (SEC) should not issue additional shares to the United States Natural Gas Fund (UNG), according to the Industrial Energy Consumers of America (IECA), which said the additional shares could distort and possibly raise the price of natural gas long term for manufacturers and other consumers.

The Securities Exchange Commission (SEC) should not issue additional shares to the United States Natural Gas Fund (UNG), according to the Industrial Energy Consumers of America (IECA), which said the additional shares could distort and possibly raise the price of natural gas long term for manufacturers and other consumers.

The United States Natural Gas Fund (UNG) announced in an 8-K filing with the Securities and Exchange Commission (SEC) last week that as of July 7 it had issued all of its remaining limited partner units to the investing public. Total units outstanding in the fund surged to a record 347.4 million units on Wednesday as investors continued to pour money into it, despite the recent downturn in U.S. natural gas prices. Total units outstanding in UNG have increased 34% since June 25, even though the fund’s current benchmark — the August New York Mercantile Exchange (Nymex) Henry Hub futures price — has fallen 16% over the same time period.

The United States Natural Gas Fund (UNG) announced in an 8-K filing with the Securities and Exchange Commission (SEC) on Tuesday that as of Tuesday, July 7, it had issued all of its remaining limited partner units to the investing public. As a result, the fund “will temporarily suspend the issuance of additional creation baskets,” or limited partner units, until the SEC approves UNG’s recent shelf filing.