Strong

Chesapeake Energy Corp. is reporting “strong initial production” from its first Utica Shale wells.

Because the House and Senate pipeline safety reauthorization bills are nearly identical on critical issues and there appears to be strong bipartisan support for them, the legislation has a good chance of clearing Congress this year, officials with a major pipeline group said last Monday.

Because the House and Senate pipeline safety reauthorization bills are nearly identical on critical issues and there appears to be strong bipartisan support for them, the legislation has a good chance of clearing Congress this year, officials with a major pipeline group said Monday.

October natural gas rose Wednesday as traders noted a strong seasonal tendency for natural gas prices to rise in the August-November period and expected the government to release inventory figures Thursday showing increases in inventory about in line with seasonal norms. At the close October had risen 14.5 cents to $4.054 and November had added 14.9 cents to $4.173. October crude oil fell 9 cents to $88.81/bbl.

September futures limped to a weak expiration Monday as traders factored in natural gas’ strong seasonality and tendency to reach a low at this time of the year. At the close September had fallen 7.4 cents to $3.857 and October skidded 8.2 cents to $3.830. October crude oil added $1.90 to $87.27/bbl.

A voluntary first-of-its-kind groundwater sampling program was launched this month by Colorado’s energy industry to “proactively” address concerns associated with drilling and hydraulic fracturing.

The plunge in oil prices in recent months hasn’t begun to pressure North American chemical producers to shift their feedstocks from natural gas liquids (NGL) products, according to midstream and chemical company executives.

Driven by sustained intensity in the U.S. onshore and a slow recovery in the Gulf of Mexico (GOM), the domestic rig count should average 1,850 in 2011, which would be 20% higher than in 2010, Baker Hughes Inc. said Monday.

Much like the preceding two weeks, the cash market got off to a strong start Monday. A tropical storm near the northern Bahamas posed essentially no threat to offshore gas, but continuing predictions of hot weather in most of the United States and parts of Canada, along with the previous Friday’s spike of 16.8 cents by prompt-month futures, were plenty bullish to cash traders.