Surprise

BreitBurn Energy Partners LP is adding to its Permian Basin portfolio after agreeing to pay about $860 million for stakes in Whiting Petroleum Corp.’s Postle and North East Hardesty oilfields in Oklahoma.

A surprise increase in natural gas prices could allow Cabot Oil & Gas Corp. to deploy a sixth drilling rig in the Marcellus Shale by the fall, helping the company accelerate its plans for pad drilling and move more primary term acreage into production.

A surprise increase in natural gas prices could allow Cabot Oil & Gas Corp. to deploy a sixth drilling rig in the Marcellus Shale by the fall, helping the company accelerate its plans for pad drilling and move more primary term acreage into production.

Given the state of natural gas liquids (NGL) markets, it should come as no surprise that U.S. propane inventories (including propylene stocks) hit a record high at the end of September while the average weekly spot price at Mont Belvieu, TX, hit a low not seen since the third quarter of 2009, according to the Energy Information Administration (EIA).

Despite the flood of natural gas on the market and stubbornly low prices, higher trading volumes should come as no surprise, according to one market consultant.. read more

Shocking details surrounding the surprise bankruptcy of securities firm giant MF Global Holdings Ltd. were coming to light last week after the company turned in its Chapter 11 papers Monday following an ill-timed bet on the European debt markets.

Shocking details surrounding the surprise bankruptcy of securities firm giant MF Global Holdings Ltd. were coming to light Tuesday, one day after the company turned in its Chapter 11 papers following an ill-timed bet on the European debt markets (see Daily GPI, Nov. 1).

A rebound in U.S. natural gas prices? That could be the “biggest surprise” later this year, FBR Capital Markets analysts said Thursday.

A rebound in U.S. natural gas prices? That could be the “biggest surprise” later this year, FBR Capital Markets analysts said last week.