Shed

Christopher A. Smith, the Obama administration’s point man on liquefied natural gas (LNG) exports, shed little light last Monday at a national regulatory commissioners’ meeting on when the Department of Energy (DOE) will begin acting on pending applications for authorization to export natural gas to countries with which the United States does not have free trade agreements (FTA).

Christopher A. Smith, the Obama administration’s point man on liquefied natural gas (LNG) exports, shed little light Monday at a national regulatory commissioners’ meeting on when the Department of Energy (DOE) will begin acting on pending applications for authorization to export natural gas to countries with which the United States does not have free trade agreements (FTA).

Cash natural gas prices shed a dime on average Friday as steady to nominal gains at Rockies points were unable to offset falling quotes at East, Northeast and California points. Traders also cited the normal Friday reluctance to buy ahead of a weekend and weather forecasts indicated little likelihood of East and Northeast cold.

Early indications point to natural gas development having a positive impact on state tax collections in counties in Pennsylvania’s Marcellus Shale region, according to an analysis by Pennsylvania State University researchers.

Chesapeake Energy Corp., which continues to shed assets or secure partners to pare debt, late Monday laid plans to launch its diverse onshore oilfield services unit through an initial public offering (IPO), but the separate company would continue to be closely tied to its main customer, the Oklahoma City-based producer.

August natural gas futures drifted lower Monday as traders expect a rangebound market. At the closing bell August futures had fallen 1.3 cents to $4.386 and September had shed 1.5 cents to $4.355. September crude oil retreated 67 cents to $99.20/bbl.

Having shed a lucrative commodities joint venture, San Diego-based Sempra Energy senior executives Thursday outlined a new focus on utility and natural gas infrastructure as the energy holding company’s strategic targets this year and beyond. This was the thrust of their remarks on a conference call with financial analysts to report decreased earnings year over year due to the exit from energy trading.

Having shed a lucrative commodities joint venture, San Diego-based Sempra Energy senior executives Thursday outlined a new focus on utility and natural gas infrastructure as the energy holding company’s strategic targets this year and beyond. This was the thrust of their remarks on a conference call with financial analysts to report decreased earnings year over year due to the exit from energy trading.

September natural gas futures shed slightly less than half of Thursday’s gains Friday as traders mulled not only the fact that natural gas failed to advance with crude oil, but also soft economic data. September futures slipped 9 cents to $3.653 and October retreated 7.9 cents to $3.909. September crude oil added a stout $2.51 to $69.45/bbl, and the Dow Jones Industrial Average rose 17 points to 9,171.