Increased sales by BP plc and ConocoPhillips, along with a surge by J. Aron & Co., weren’t enough to overcome third quarter doldrums among companies selling natural gas, according to NGI’s 3Q2012 Top North American Gas Marketers Ranking. read more
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3Q2012 Marketers Sales Flat, Despite Advances by BP, ConocoPhillips
Increased sales by BP plc and ConocoPhillips, along with a surge by J. Aron & Co., weren’t enough to overcome third quarter doldrums among companies selling natural gas, according to NGI’s 3Q2012 Top North American Gas Marketers Ranking.
IHS Report: Shale Creating Jobs Across Lower 48
Unconventional natural gas activity supported more than one million jobs in 2010, a number that is likely to grow to nearly 1.5 million by 2015. The industry is expected to generate significant job creation, economic growth and tax revenues nationwide — in producing and non-producing states alike — according to a new report from IHS Global Insight.
Nearly All Points Higher by a Nickel or So; Futures Advance
The cash market rose on average about a nickel overall Tuesday as a late-session futures surge Monday combined with supportive weather in some parts of the country to send quotes squarely into the plus column. Futures built on Monday’s gains and the July contract Tuesday rose 3.1 cents to $2.446 and August futures added 2.9 cents to $2.496. July crude oil tacked on 31 cents to $84.29/bbl.
Market Diverges On Timing Issues; Futures Surge After EIA Report
Futures jumped Thursday following the release of government inventory data, but the surge occurred after most cash trading had taken place, leaving the illusion of divergent markets.
Storage Purge Beginning, Yet Cash, Futures Firm
Physical gas prices continued to move higher Tuesday as momentum carried forward from Monday’s surge and quotes at eastern points advanced by nearly a half-dollar. Futures bulls are beginning to stir, but short-term traders aren’t buying any kind of sustained advance. February futures advanced 2.9 cents to $2.554 and March was up by 2.1 cents to $2.601. March crude oil shed 63 cents to $98.95/bbl.
Bentek: North America Will Be Soaking in Crude
Crude oil production in the United States and Canada will grow by 3.1 million b/d, or about 38%, over the next five years thanks to technologies and development practices honed in the U.S. shale gas patch, according to a new analysis by Bentek Energy LLC. The United States alone will grow oil production by 2.2 million b/d, most of it light or intermediate grades, the firm said.
Shales Heating Up Talk of U.S. as LNG Exporter
The surge of U.S. shale gas supplies has caused a large-scale rethink on liquefied natural gas (LNG) and the relationship of the U.S. gas market to that of the rest of the world. Those who used to watch U.S. shores for inbound tankers now wonder how soon and how many tankers will leave this country loaded with liquefied shale gas.
Energy Job Market Looks Bright to End of Year
Global natural gas and oil companies remain cautious as they consider making new investments and hiring more employees, but a surge in worldwide energy demand should increase hiring to the end of this year, according to a report released on Wednesday.
Baker Hughes CEO: North America Pressure Pumping ‘Sold Out’
Baker Hughes Inc. on Wednesday reported a surge in profits for the first quarter, boosted by a huge demand for oilfield services across U.S. and Canadian unconventional natural gas and oil plays.