Target

Energy analysts at Susquehanna Financial Group (SFG) on Wednesday reduced their one-year target for domestic exploration and production (E&P) companies because of a lower assumed commodity price deck.

September natural gas futures knee-jerked lower in Thursday morning trading following the news that an on-target 37 Bcf was injected into underground storage for the week ending Aug. 6. The prompt-month contract recorded a low of $4.264 before closing out the day at $4.296, down 3 cents from Wednesday’s close.

After projecting earlier that linepack on its California Gas Transmission system might exceed maximum target levels going into the weekend, Pacific Gas and Electric (PG&E) issued a systemwide Stage 2 high-inventory OFO for Saturday. Penalties of $1/Dth were set for exceeding a relatively lenient (at least for PG&E) tolerance of 20% on positive daily imbalances.

Citing forecasts of Florida lows in the 30s and linepack below its minimum target levels, Florida Gas Transmission issued an Overage Alert Day for market-area customers Thursday with a 15% tolerance for negative daily imbalances.

Citing forecasts of Florida lows in the 30s and linepack below its minimum target levels, Florida Gas Transmission issued an Overage Alert Day for market-area customers Thursday with a 15% tolerance for negative daily imbalances.

With the eastern South poised to become the next target of relatively sizeable amounts of snow and more of it expected to return to the upper East Coast early next week, most of the cash market realized small gains Thursday.

With the eastern South poised to become the next target of relatively sizeable amounts of snow and more of it expected to return to the upper East Coast early next week, most of the cash market realized small gains Thursday.

While the number of natural gas wells completed fell significantly last year compared with 2008, natural gas remained the primary target for domestic drilling in 2009, according to the American Petroleum Institute’s (API) latest estimates.

While the number of natural gas wells completions fell significantly last year compared with 2008, natural gas remained the primary target for domestic drilling in 2009, according to the American Petroleum Institute’s (API) latest estimates.