Going against conventional belief surrounding multizone completion success in coalbed methane wells, more natural gas and less water was found in the shallower coals of the wells tested, according to a study just completed by GST WellDog, a privately held natural gas development research and analysis firm that was tasked with developing coalbed methane development best practices.
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Energy Futures Plummet on Liquidation Cash Grab
Swelling concerns surrounding the U.S. and global economy turmoil led to slumping stock and energy markets Monday. The Dow Jones Industrial Average — which was down as much as 800 points earlier in the day — finished Monday down 369 points, while November crude futures shaved $6.07 to close at $87.81/bbl and November natural gas futures broke below support just above $7 to close at $6.835, down 52.3 cents.
Large Storage Build Trumps Gustav for a Day as Futures Sink
Despite all of the other noise surrounding natural gas futures, the October contract still responded in a big way to Thursday morning’s Energy Information Administration (EIA) storage report, which revealed that an astounding 102 Bcf was injected into underground storage for the week ended Aug. 22. In its first regular session action as front-month, the October contract plummeted 55.8 cents to close at $8.050.
Futures Climb as Independence Hub Restart Gets Pushed Back
Concern surrounding the delay in restarting the Independence Hub natural gas deepwater production platform in the Gulf of Mexico gave bulls a little boost overnight Tuesday and into Wednesday as June natural gas futures recorded an overnight high for the move of $11.794 before closing out Wednesday’s regular session at $11.598, up 17.6 cents from Tuesday’s close.
StatoilHydro Says First European LNG Shipment Reaches U.S. Soil
As the debate surrounding just how much liquefied natural gas (LNG) will actually find its way to U.S. shores continues, a historic delivery of LNG from the Norwegian continental shelf arrived in the United States last Thursday, according to StatoilHydro. The shipment of Snohvit LNG marks the first delivery of gas from Europe to the world’s largest energy market.
StatoilHydro Says First European LNG Shipment Reaches U.S. Soil
As the debate surrounding just how much liquefied natural gas (LNG) will actually find its way to U.S. shores continues, a historic delivery of LNG from the Norwegian continental shelf arrived in the United States on Thursday, according to StatoilHydro. The shipment of Snohvit LNG marks the first delivery of gas from Europe to the world’s largest energy market.
Futures Fall as Cold Not Expected to Stay Very Long
Questions surrounding the duration of the nation’s near-term cold snap continued to unravel the recent strength in natural gas futures trading on Tuesday as the December contract dropped 16.6 cents on the day to close at $7.557. The January contract, which will take over prompt-month status in overnight Wednesday trading, shaved 20.4 cents on Tuesday to finish at $7.817.
Fading Prospects for CA LNG Site Found in CPUC Denial
The lack of any sense of immediacy surrounding the building of a coastal LNG terminal in California was illustrated by the California Public Utilities Commission’s (CPUC) denial on June 21 of a request by the state’s major natural gas utilities to modify rules that could apply to connecting a terminal to the existing intrastate backbone transmission pipeline system and its ties to markets east of California.
Still-Dim Prospects for CA LNG Terminal Seen in CPUC Denial
The lack of any sense of immediacy surrounding the building of a coastal LNG terminal in California was illustrated by the California Public Utilities Commission’s (CPUC) denial on Thursday of a request by the state’s major natural gas utilities to modify rules that could apply to interconnecting a terminal to the existing intrastate backbone transmission pipeline system and its ties to markets east of California.
Natural Gas Market Called a ‘Catch-22’ as Details Emerge on Bank’s Losses
With the industry is still awash in talk surrounding the Bank of Montreal’s (BMO) recent natural gas trading losses of C$350-450 million (US$313.70-403.33 million), the aftershocks and tremors continue to be felt by others in the industry (see related story), including Valhalla, NY-based brokerage Optionable Inc., which reportedly has been linked to the bank. Some market watchers in their analysis of the event have gone as far as calling the natural gas market a “Catch-22,” where you get in just as much trouble by hedging as not hedging.