Traded

Four trade associations last Tuesday filed a lawsuit challenging a Securities and Exchange Commission (SEC) rule requiring publicly traded domestic oil and natural gas producers to disclose to the public commercially sensitive information that could put them at a major disadvantage with foreign-owned energy companies.

Four trade associations Tuesday filed a lawsuit challenging a Securities and Exchange Commission (SEC) rule requiring publicly traded domestic oil and natural gas producers to disclose to the public commercially sensitive information that could put them at a major disadvantage with foreign-owned energy companies.

All actively traded cash points recorded losses on gas for weekend and Monday delivery in Friday’s trading. The physical market on average fell 13 cents with Northeast points enduring the greatest declines. Eastern and Gulf points were weak as well. At the close of futures trading October had shed 9.4 cents to $2.943 and November had dropped 8.1 cents to $3.083. October crude oil added 69 cents to $99.00/bbl.

Corridor Resources Inc. and partner Petrolia Inc. are conducting a three-part exploration program on Anticosti Island in the Gulf of Saint Lawrence to advance the “exploration and development potential of the vast shale oil prospect” on the 3,050 square-mile island, Corridor said.

Anadarko Petroleum Corp.’s Jim Hackett, who traded the CEO chair for that of executive chairman in May, said the country needs to have an “informed and constructive debate” on the national energy policy to ensure natural gas and oil can continue to be developed under “very strong and appropriate” environmental protections.

Anadarko Petroleum Corp.’s Jim Hackett, who traded the CEO chair for that of executive chairman in May, said Wednesday the country needs to have an “informed and constructive debate” on the national energy policy to ensure natural gas and oil can continue to be developed under “very strong and appropriate” environmental protections.

Monday (July 16) saw the world’s first cleared liquefied natural gas (LNG) swap traded. The contract settles on the ICIS East Asia Index (EAX) for physical LNG. The deal was done for September at $13.90/MMBtu and brokered by Tradition over the CME Direct trading platform and has been cleared by CME Europe.

Aggregate U.S. pressure pumping supply exceeded demand late last year and in the first three months of 2012 capacity utilization averaged 93.4%, a big turnaround in a market that had been undersupplied for two years, according to a new analysis. The shift is challenging oilfield service operators, which already were noting the squeeze in quarterly conference calls.

Physical gas prices overall traded about 5 cents lower Thursday, but Rocky Mountain producers and marketers got hit with a double whammy of a force majeure on a major pipeline hauling gas to California and a plunge in hydro-derived electricity prices. Eastern and Gulf points endured nominal losses.