Sustained

Sustained low natural gas prices and higher productivity may trigger a wave of industry consolidation similar to the mega mergers in the past decade, oil and gas experts told an audience at the recent IHS Herold 20th Annual Pacesetters Energy Conference in Stamford, CT.

Sustained low natural gas prices and higher productivity may trigger a wave of industry consolidation similar to the mega mergers in the past decade, oil and gas experts told an audience last week at the IHS Herold 20th Annual Pacesetters Energy Conference in Stamford, CT.

October natural gas fell again in uninspired trading that saw traders ascribe the losses to more mild weather patterns. October dropped 6.8 cents to $3.730 and November fell 6.5 cents to $3.820. November crude oil lost $1.00 to $85.92/bbl.

Because of new drilling techniques that allow operators to do more with less, federal officials in Colorado have more than doubled their initial estimate on the number of natural gas wells that could be drilled in the Gothic Shale in the Paradox Basin of southwestern Colorado.

An environmental impact review on oil shale and tar sand plans in Colorado, Utah and Wyoming initiated earlier this year by the federal Bureau of Land Management (BLM) is an “inefficient and unnecessary” exercise, according to one Shell Exploration and Production (E&P) Co. official.

Driven by sustained intensity in the U.S. onshore and a slow recovery in the Gulf of Mexico (GOM), the domestic rig count should average 1,850 in 2011, which would be 20% higher than in 2010, Baker Hughes Inc. executives said last week. In Canada the rig count is expected to hit 400 this year, which would be 15% higher year/year (y/y), CEO Chad Deaton said during a conference call with energy analysts.

Driven by sustained intensity in the U.S. onshore and a slow recovery in the Gulf of Mexico (GOM), the domestic rig count should average 1,850 in 2011, which would be 20% higher than in 2010, Baker Hughes Inc. said Monday.

Driven by sustained intensity in the U.S. onshore and a slow recovery in the Gulf of Mexico (GOM), the domestic rig count should average 1,850 in 2011, which would be 20% higher than in 2010, Baker Hughes Inc. said Monday.

Encana Corp. is tightening the purse strings and slowing output in 2011 because of sustained low natural gas prices, an executive said last week.