Stronger

Merger and acquisition (M&A) activity in the midstream sector last year got back to the all-time high level of 2006. Nearly all (94%) of the activity last year was driven by spending on gas pipelines and gas gathering and processing facilities in the United States, and shale gas plays featured prominently in that activity, according to the “IHS Herold 2011 Global Midstream M&A Review.”

Even with three days of flat to much stronger pricing Monday through Wednesday, only Marcellus Shale numbers in northeast Pennsylvania were able to eke out a small gain during the week ending Thursday. Other plays fell 6-12 cents during that period.

More steel and less paper would make for a stronger U.S. economy, and the energy industry is poised to contribute to an industrial renaissance that would bring such change about for the benefit of all, Alcoa Inc.’s David Ciarlone told a GasMart 2010 audience in Chicago earlier this month.

More steel and less paper would make for a stronger U.S. economy, and the energy industry is poised to contribute to an industrial renaissance that would bring such change about for the benefit of all, Alcoa Inc.’s David Ciarlone told a GasMart 2010 audience in Chicago last week.

Senate Democrats’ legislation overhauling the financial regulatory system is “good” as far as it goes (see Daily GPI, April 30), but it needs “stronger” language, including a provision to break up the big banks, said an official with National People’s Action (NPA).

Stronger performance from its distribution operations, retail energy operations and wholesale services segments helped drive AGL Resources Inc.’s 1Q2010 net income to $134 million ($1.74 cents/share), an increase of 12.6% compared with $119 million ($1.55) in 1Q2009, the Atlanta-based company said.

Stronger performance from its distribution operations, retail energy operations and wholesale services segments helped drive AGL Resources Inc.’s 1Q2010 net income to $134 million ($1.74 cents/share), an increase of 12.6% compared with $119 million ($1.55) in 1Q2009, the Atlanta-based company said.

Oilfield services operators last week reported stronger sequential earnings in 1Q2010 from the last three months of 2009 because of a boost in U.S. onshore spending, but with North American natural gas prices failing to show much strength, the outlook for the second half of this year is uncertain, CEOs of Halliburton, Nabors Industries Ltd. and Schlumberger Ltd. said last week.

The integrated majors are taking proactive steps to improve their growth curve, including a stronger focus in North America, an energy analyst with Raymond James & Associates Inc. said last week.