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Dry natural gas drilling is coming to a standstill, but BP plc is “looking to see if it might expand” in the liquids-rich Utica Shale after securing a leasehold earlier this year, CEO Bob Dudley said Tuesday.

The cash market overall was lower on average by a couple of pennies Tuesday with most market areas showing quotes on either side of unchanged. California points weakened as a customer imbalance was redressed. Eastern points were mostly unchanged, and Gulf points eased. At the close of futures trading June had risen 9.8 cents to $2.707 and July had gained 8.7 cents to $2.776. June crude oil fell 91 cents to $91.66/bbl.

It was a tale of two markets Tuesday as cash prices were content to trade within about a two-cent range on either side of unchanged and futures traders covered short positions at the end of the session.

For the most part physical gas Wednesday traded a couple of pennies on either side of unchanged. Average prices were flat, but Northeast points were soft, and Southern California prices took a hit following forecasts of cooler weather. Futures traders were pleased with the day’s nearly double-digit advance, and at the close May had risen 9.3 cents to $2.068 and June had gained 10.7 cents to $2.170. June crude oil added 57 cents to $104.12/bbl.

While she joined the majority at FERC last week in voting out a certificate to build facilities to liquefy and export natural gas, Commissioner Cheryl LaFleur on Monday cautioned industry about rushing to invest in liquefied natural gas (LNG) export facilities, questioning how long the U.S. will maintain its technology advantage in the development of the shale gas that is driving the trend towards exports.

Increasing reliance on natural gas-fired power generation in the Dallas-Fort Worth Metroplex has created a ready and willing market on the demand side of the Tolar Hub in Tolar, TX, while gas from the Barnett Shale and other area shale plays ensures abundant supply, according to hub operator NorTex Midstream Partners LLC.

Increasing reliance on natural gas-fired power generation in the Dallas-Fort Worth Metroplex has created a ready and willing market on the demand side of the Tolar Hub in Tolar, TX, while gas from the Barnett Shale and other area shale plays ensures abundant supply, according to hub operator NorTex Midstream Partners LLC.

Two separate decisions in the U.S. District Court for the Northern District of New York came down mostly on the side of shale play giant Chesapeake Energy Corp. in a year-old dispute over the extension of leases from landowners at below-market prices. Landowners in parts of four counties in New York state’s portion of the Marcellus Shale filed lawsuits against the Oklahoma-based shale operator.

Two new reports by top international research companies have come in on the high side of the great Marcellus Shale resources debate, producing estimates that range between 267 Tcf and 698 Tcf of potential reserves production.