EIA: Shales Boosted 2011 NatGas Production

Domestic natural gas production surged in 2011 to 28.48 Tcf, a 1.66 Tcf (6.2%) increase compared to 26.82 Tcf in 2010, and it was production from the nation’s shale plays that gave the total its biggest boost, according to the U.S. Energy Information Administration (EIA).

February 8, 2013

Strong Northeast Offsets Soft Midcontinent; Futures Narrowly Mixed

Cash prices overall surged 7 cents higher on average Wednesday as monster gains posted at Northeast locations were more than able to offset a slumping Midcontinent. At the close of futures trading December had inched higher by one tenth of a cent to $3.692 and January had eased four tenths of a cent to $3.820. December crude oil gained 56 cents to $86.24/bbl.

November 1, 2012

Complex Rig Technology in High Demand, Says National Oilwell

National Oilwell Varco Inc. (NOV), which supplies rig technology components and supply chain systems, reported Wednesday that quarterly profits surged from a year ago as operators continued to boost their spending for drilling know-how to compete in more difficult-to-extract basins.

April 30, 2012

Complex Drilling Technology Revs Profits for National Oilwell Varco

National Oilwell Varco Inc. (NOV), which supplies rig technology components and supply chain systems, reported Wednesday that quarterly profits surged from a year ago as producers boosted their budgets for technology to compete in more difficult-to-extract basins.

April 26, 2012

Bears’ Patience Misplaced, Analyst Says; October Gains

October natural gas surged higher Tuesday, and although analysts weren’t quite ready to say the seasonal low is in, they noted that those holding short positions may be ready to throw in the towel. At the close October had risen 9.5 cents to $3.980 and November had advanced 8.8 cents to $4.054. October crude oil jumped $2.02 to $90.21/bbl.

September 14, 2011

Marcellus Gas More Economic Than Some Oil Plays, Analyst Says

The Marcellus Shale is not only the most economic natural gas basin in the country, it is producing better returns than many oil plays, an energy industry analyst told an audience in Philadelphia last week.

September 14, 2011

Futures Push Higher on Bluer Forecasts

Rebounding from last Friday’s dip below $4, January natural gas futures surged higher Monday as market bulls were supported with forecasts that were looking chillier than they did just three days earlier. The prompt-month contract treaded between $4.013 and $4.248 before settling near the peak at $4.237, up 17.1 cents from Friday’s finish.

December 21, 2010

Short Holders Cover Ahead of the Long Weekend; October Up 18.8 Cents

October natural gas futures surged Friday as traders elected to cover short positions ahead of what could be an extended and tumultuous weather weekend. At the close October futures rose 18.8 cents to $3.939 and November added 14.5 cents to $4.170. October crude oil fell 42 cents to $74.60.

September 7, 2010

Boardwalk’s Quarterly Profits, Revenues Jump

Profits and revenues in 2Q2010 surged for Houston-based Boardwalk Pipeline Partners LP, but the natural gas pipeline operator failed to hit Wall Street expectations because of higher operating costs and interest expenses, it said Monday.

July 27, 2010

Consol Ponying Up for Rest of CNG Gas

Consol Energy Inc. is offering to buy the nearly 17% of CNX Gas Corp. common stock it does not already own. Consol’s tender offer is to begin May 5 at a price of $38.25/share. CNX shares surged nearly 24% to $38 Monday morning on the news.

March 23, 2010
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