Sign

Natural gas production in 3Q2009 by the top domestic explorers showed little sign of pulling back, and aggregate output by the end of the year could be 9% higher than in 2008, which points to “substantial uncertainties” for supply and demand drivers in 2010, energy analysts said last week.

Interest in the Haynesville Shale shows no sign of waning anytime soon. Last week came three more big announcements to expand pipeline capacity from the natural gas shale play.

Natural gas production in 3Q2009 by the top domestic explorers showed little sign of pulling back, and aggregate output by the end of the year likely will be 9% higher than in 2008, according to an analysis by the exploration and production (E&P) research team at Tudor, Pickering, Holt & Co. Securities Inc. (TPH).

While not shying away from active trading, independent generation and merchant natural gas pipeline/storage plays, it’s a sign of the economic downturn that Sempra Energy is charting a course led by its two sizable California utilities, CEO Don Felsinger told financial analysts.

Alaska natural gas producers are being offered a chance to win shares in a $3 billion bonus if they sign up for delivery capacity on TransCanada Corp.’s entry in the contest to build a pipeline to the Lower 48.

Alaska natural gas producers are being offered a chance to win shares in a $3 billion bonus if they sign up for delivery capacity on TransCanada Corp.’s entry in the contest to build a pipeline to the Lower 48.

In a sign that global economic woes have begun to bite into some of the biggest oil and natural gas producers, ConocoPhillips has dramatically cut its 2009 capital budget and plans to cut 4% of its workforce, or around 1,350 people. The Houston-based oil major also said it would take $34 billion in one-time charges against its 4Q2008 earnings.

In a sign that global economic woes have begun to bite into some of the biggest oil and natural gas producers, ConocoPhillips has dramatically cut its 2009 capital budget and plans to cut 4% of its workforce, or around 1,350 people. The Houston-based oil major also said it would take $34 billion in one-time charges against its 4Q2008 earnings.

In a sign of things to come, the number of rigs actively exploring for natural gas and oil in the United States dropped by 51 last week to 1,941, according to Baker Hughes Inc. The rigs being laid down are in some of the biggest gas-producing areas: Texas dropped 23 rigs, Louisiana, 13; New Mexico, 12; and Oklahoma lost six.