Tenth

Chesapeake Energy Corp. has carved out a 94,000-acre tract in Ohio’s Stark and Portage counties to sell, land that represents roughly one-tenth of its leasehold in the Utica/Point Pleasant Shale.

The U.S. Court of Appeals for the Tenth Circuit has upheld a lower court’s ruling supporting the Interior Department’s arguments that it is not required to immediately issue leases to oil and natural gas producers following purchases.

The U.S. Court of Appeals for the Tenth Circuit has upheld a lower court’s ruling supporting the Interior Department’s arguments that it is not required to immediately issue leases to oil and natural gas producers following purchases.

Wyoming has filed three petitions with the U.S. Court of Appeals for the Tenth Circuit, challenging rules instituted by the federal Environmental Protection Agency (EPA) to combat greenhouse gas (GHG) emissions, alleging that the new rules trample on states rights.

Wyoming earlier in February filed three petitions with the U.S. Court of Appeals for the Tenth Circuit, challenging rules instituted by the federal Environmental Protection Agency (EPA) to combat greenhouse gas (GHG) emissions, alleging that the new rules trample on states rights.

According to one natural gas futures trader, the June contract on Wednesday went off the board like “a sleeping lamb” as it gained one-tenth of a cent to expire at $3.538. The July contract, which now assumes front-month status, slipped five-tenths of a cent on the day to close at $3.638.

Last week marked the second consecutive week of warmer than normal temperatures and the tenth overall this heating season, forcing UBS Warburg analyst Ronald Barone to concede his forecast for a $2.10/MMBtu average spot wellhead price this quarter could be a little too high. He also said his forecasts for the year may have to come down and other analysts agreed the fundamental picture continues to look weak despite the drilling decline.

The natural gas futures market made it a ‘perfect ten’ yesterdayby trading within a tight 14-cent range for the tenth consecutivetrading session. The August contract showed promise early, racingout to a strong start and posting a $2.239 high. That, however,would be the best the market could do Tuesday. It then wilted underselling pressure in the afternoon. The prompt month finished at$2.198, down 0.9 on the day.