Shortage

Gas for Monday delivery fell about 8 cents nationwide in Friday trading as an overall shortage of demand combined with the need to make up ground traversed by the double-digit decline in the May futures on Thursday. Losses were greatest at eastern points as temperature forecasts called for seasonal readings for most of next week. At the close of futures trading May had lost 2.3 cents to $2.126 and June had given up 1.1 cents to $2.259. May crude oil added 24 cents to $102.02/bbl.

A shortage of onshore drilling equipment capable of blasting into shale is contributing to double-digit inflation in some of the big U.S. unconventional plays, an issue expected to be played out over the coming weeks as North American exploration and production (E&P) companies unveil earnings for the first three months of 2011.

A shortage of onshore drilling equipment capable of blasting into shale is contributing to double-digit inflation in some of the big U.S. unconventional plays, an issue expected to be played out over the coming weeks as North American exploration and production (E&P) companies unveil earnings for the first three months of 2011.

With no real storm threats materializing in the tropics and no shortage of supply, natural gas futures continued to probe lower price levels Friday as the November contract recorded a low of $3.788 before closing the regular session at $3.797, down 7.5 cents from Thursday finish and 21.2 cents from the previous week’s close.

Natural gas producers in Canada have no shortage of fresh, large drilling targets as exploration campaigns quietly spread out on a new eastern industry frontier, says a new report by the Geological Survey of Canada (GSC).

Natural gas producers have no shortage of fresh, large drilling targets as exploration campaigns quietly spread out on a new eastern industry frontier, says a new report by the Geological Survey of Canada (GSC).

With no shortage of prognosticators on commodities markets it’s important that traders and energy buyers do their own homework, former trader Tony Kolton told an audience of gas utility executives last Tuesday.

With no shortage of prognosticators on commodities markets it’s important that traders and energy buyers do their own homework, former trader Tony Kolton told an audience of gas utility executives Tuesday.

A shortage of rigs will force Nexen Inc. and its partners to delay drilling the deepest of deepwater wells in the Gulf of Mexico (GOM) until 2009 — three years later than originally planned.