Spending

The continued slowdown in capital spending by U.S. producers will keep pushing natural gas production down at a rate of 1-1.5% per quarter “for the foreseeable future,” but the decline also will sustain higher gas prices, according to two investment analyst groups.

The continued slowdown in capital spending by U.S. producers will keep pushing natural gas production down at a rate of 1-1.5% per quarter “for the foreseeable future,” but the decline also will sustain higher gas prices, according to two investment analyst groups.

The House last week voted overwhelmingly to approve an amendment to an Interior Department spending bill that would block new oil and natural gas drilling on 36 disputed leases off the central coast of California.

The House late Wednesday voted overwhelmingly to approve an amendment to an Interior Department spending bill that would block new oil and natural gas drilling on 36 disputed leases off the central coast of California.

The House late Wednesday voted overwhelmingly to approve an amendment to an Interior Department spending bill that would block new oil and natural gas drilling on 36 disputed leases off the central coast of California.

House lawmakers were expected to vote late Tuesday on an amendment to an Interior Department spending bill that seeks to block further oil and natural gas drilling on 36 disputed leases off the coast of California.

House lawmakers were expected to vote late Tuesday on an amendment to an Interior Department spending bill that seeks to block further oil and natural gas drilling on 36 disputed leases off the coast of California.

Kerr-McGee Corp. increased its capital budget for exploration and production development projects by 15%, or $120 million, to $900 million, to concentrate more on identified projects in the Denver-Julesburg Basin and the Gulf Coast.

After spending precious little time in the $1.80s Monday, February natural gas futures bubbled higher on expiration day yesterday as a late round of local short-covering boosted prices back above the $2.00 mark. By virtue of its 9.8-cent gain and $2.006 final settlement price, the February contract managed to avoid last October’s fate of a sub-$2.00 closing price. Volume was normal for an expiration day with 129,016 contracts changing hands.