Towards

Seneca Resources Corp. is proceeding with drilling operations in the Marcellus and Utica shales, and has established positions in oil fields in Kansas and California, the National Fuel Gas Co. (NFG) subsidiary said Thursday.

January natural gas continued its march towards $3 as recent weather forecasts hint of milder conditions and a subsequent low withdrawal from storage inventories. At the close January had retreated 3.1 cents to $3.096 and February gave up 3.1 cents t $3.143. January crude oil gained 35 cents to $93.88/bbl.

While the Keystone XL pipeline languishes along with plans for increased oil exports to and through the U.S., Canadian oil exporters took a step Thursday towards building new Asian trading relationships by launching reliable tanker deliveries overseas from the Pacific coast of British Columbia.

While the Keystone XL pipeline languishes along with plans for increased oil exports to and through the U.S., Canadian oil exporters took a step Thursday towards building new Asian trading relationships by launching reliable tanker deliveries overseas from the Pacific coast of British Columbia.

As the Colorado legislature moves towards ajournment in mid-May a bill affecting the handling of water disputes between drilling companies and ranchers, and another reforming the two-year old Colorado Oil and Gas Conservation Commission (COGCC) were moving through committees.

In a move that could be seen as retribution for state Senate Republicans’ negotiating tactics and opposition to a proposed natural gas severance tax, Pennsylvania Gov. Ed Rendell Tuesday signed an executive order placing an immediate ban on leases for oil and gas development on any land owned and managed by the state’s Department of Conservation and Natural Resources (DCNR).

The consensus forecast for the 2010 Atlantic hurricane season is pointing increasingly towards an unusually active season, with Andover, MA-based WSI Corp. now calling for 18 named storms, including 10 hurricanes, five of them intense (Category Three or greater). The hurricane season, which officially begins Tuesday (June 1), will be “hyperactive” with a magnified threat to the Northeast United States, the forecaster said.

In its sixth report to Congress, FERC said there has been “substantial progress towards development” of an Alaska natural gas pipeline since it last submitted a report earlier this year.

In a report to Congress Friday, the Federal Energy Regulatory Commission said there has been “substantial progress towards development” of an Alaska natural gas pipeline since it last submitted a report earlier this year.