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.
Surged
Articles from Surged
UNG’s Outstanding Units Surge, But Further Increases May Have to Wait
Total units outstanding in the United States Natural Gas fund (UNG) surged to a record 347.4 million units on Wednesday as investors continued to pour money into the fund, despite the recent downturn in U.S. natural gas prices. Total units outstanding in UNG have increased 34% since June 25, even though the fund’s current benchmark — the August New York Mercantile Exchange (Nymex) Henry Hub futures price — has fallen 16% over the same time period.
July 10, 2009
Producer Spending on Drilling Sets Record of $226.4B in 2007
Spurred by strong demand and high commodity prices, oil and natural gas industry spending on drilling and equipping wells in the United States surged again in 2007, hitting an all-time high of $226.4 billion, more than double the previous record of $109.8 billion set in 2006, according to a joint survey of drilling costs cited by the American Petroleum Institute (API).
January 12, 2009
Producer Spending on Drilling Set Record of $226.4B in 2007
Oil and natural gas industry spending on drilling and equipping wells in the United States surged again in 2007, hitting an all-time high of $226.4 billion, more than double the previous record of $109.8 billion set in 2006, according to a joint survey of drilling costs cited by the American Petroleum Institute (API).
January 7, 2009
Market Factors in Alignment; February Jumps 34.9 Cents
February natural gas futures surged Friday as seasonal buying, forecasts of cold weather, a lack of liquidity, and firm real-time dynamics combined to send prices sharply higher. February futures jumped 34.9 cents to $5.971 and March added 33.7 cents to $5.994. February crude oil added $1.74 to $46.34/bbl.
January 5, 2009
El Paso’s Earnings Skyrocket; Belt-Tightening Planned for 2009
El Paso Corp.’s quarterly earnings surged 190%, and in spite of the two Gulf Coast hurricanes that impacted operations in September, the pipeline group and the exploration and production (E&P) unit posted solid returns.
November 10, 2008
Market a ‘Tough Call’; July Jumps 22.5 Cents
July natural gas futures surged in a sympathetic move with crude oil and concerns of modest supply increases. July natural gas rose 22.5 cents to $12.660 and August advanced 23.3 cents to $12.749. Hyper-volatile July crude oil rocketed higher by $5.07 to $136.38.
June 12, 2008
Futures Attack Old High Following Supportive Storage Draw
Fueled by a supportive natural gas storage withdrawal, May natural gas futures on Thursday surged higher to within four-tenths of a cent of the move’s $10.294 high before collapsing in afternoon trade. The prompt-month contract ended up closing the day at $10.098, up 4.2 cents from Wednesday’s close.
April 11, 2008
Futures Rally Despite Smallish 87 Bcf Storage Withdrawal
Despite a bearish 87 Bcf storage withdrawal reported on Friday, February natural gas futures surged higher during the second half of the regular session to close at $7.841, up 16.7 cents from Thursday’s close and 45.5 cents higher than the previous week’s finish.
January 7, 2008
Upstream Costs Surge to Record Highs
Costs to construct new oil and natural gas facilities have nearly doubled since 2005 and have surged to record highs, according to the IHS/Cambridge Energy Research Associates (CERA) Upstream Capital Costs Index (UCCI).
November 12, 2007
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