Sits

Shares of Corridor Resources Inc. took a pounding on Wednesday after the company announced it has so far been unsuccessful in finding a joint venture (JV) partner to help develop its prospect in the emerging Frederick Brook Shale.

Domestic shale gas will increasingly be developed by the majors, an energy industry financier told an audience in Pittsburgh on Monday.

The Town Council of Flower Mound, TX, which sits atop the Barnett Shale, has combined two existed drilling permit moratoriums into one and extended it until April 15 while it awaits an advisory board’s report on oil and natural gas development activities in the town.

Some residents of Fort Worth, TX — which sits atop the Barnett Shale — would like to see their city and state reconsider policies on siting and regulation of natural gas pipelines. A group of neighborhood associations said Thursday that citizens of other shale gas towns could learn from mistakes made in their city.

Michael Williams, who sits on the Railroad Commission of Texas (RRC), has asked Texas Attorney General Greg Abbott for a legal opinion on whether the RRC would have authority to halt drilling in the Barnett Shale.

Exploration and production companies are looking to the Marcellus Shale and seeing dollar signs; so are Pennsylvania landowners whose acreage sits atop the shale and its gas reserves.

Exploration and production companies are looking to the Marcellus Shale and seeing dollar signs; so are Pennsylvania landowners whose acreage sits atop the shale and its gas reserves.

Still floundering around in its recent trading range, which sits roughly between $6.500 and $7.500, May natural gas futures on Tuesday found early resistance at $7.020, located support a little later in the morning at $6.790, and traded between those two price levels for the remainder of the session before closing at $6.908, up 2.6 cents on the day.

The high average price paid for the gas that now sits in storage facilities across the country will put storage capacity holders in a real tight spot this winter if prices average less than $4.65 at the Henry Hub, according to Scott DePasquale, natural gas analyst at Energy Security Analysis Inc. (ESAI). DePasquale expects storage operators would suffer significant losses at such lower than expected price levels.