For the most part physical gas Wednesday traded a couple of pennies on either side of unchanged. Average prices were flat, but Northeast points were soft, and Southern California prices took a hit following forecasts of cooler weather. Futures traders were pleased with the day’s nearly double-digit advance, and at the close May had risen 9.3 cents to $2.068 and June had gained 10.7 cents to $2.170. June crude oil added 57 cents to $104.12/bbl.
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FERC: Will There Be Shale in the LNG? Perhaps
Some opponents of exporting liquefied domestic gas argue that doing so would encourage more development of shale gas resources using hydraulic fracturing (fracking) well stimulation. Since fracking is bad (causes pollution), so are liquefied natural gas (LNG) exports, they argue. But that’s not how it works, FERC said in approving facilities proposed by Cheniere Energy Inc. units to liquefy and export gas from the Louisiana coast.
Northeast Cash Bounds Higher in Otherwise Flat Market
Cash prices traded close to unchanged Thursday with most quotes a penny or two higher or lower. However, Northeast prices shot higher primarily on supportive weather conditions.
EOG’s Papa: We’re an Oil Company
While 10% of its 2012 capital program will be spent to maintain dry natural gas activities — in anticipation of better days — EOG Resources Inc.’s focus is on oil and liquids, as it has been for about the last four years, CEO Mark G. Papa told financial analysts Friday during an earnings conference call when he waxed ecstatic about the Eagle Ford Shale in South Texas.
Rosetta to Spend Big on Eagle Ford Next Year
Rosetta Resources Inc. will be dropping more than 90% of its $640 million 2012 capital budget in the Eagle Ford Shale of South Texas, the Houston-based company said Monday.
Williams to Spin Off E&P Business by Year’s End
Weakness in the equity markets has forced Williams to revamp a plan that will create two stand-alone publicly traded companies from its exploration and production (E&P) business and natural gas pipeline unit, the Tulsa -based company said Tuesday.
Market Mixed; $4 Price Point Dissected
Following three straight days during which cash prices nudged higher almost across the board, natural gas traded Thursday for Friday delivery was a mixed bag of minor pluses, minuses and a fair amount of points that went unchanged. Almost all of the additions or subtractions were by less than a nickel, potentially signaling just how content the market is with the current price point.
Traders Mull Irene, Indecisive Market; September Inches Higher
September natural gas traded lower, then higher Thursday as traders noted that the latest storage figure came in pretty much on target. September rose 0.9 cent to $3.931 and October gained 1.7 cents to $3.906. October crude oil rose 14 cents to $85.30/bbl.
IHS: Oil, Gas E&P Spending to Jump 12% in 2011
Capital spending on exploration and production (E&P) by 139 publicly traded oil and gas companies is expected to increase to $406 billion this year, a 12% increase compared with 2010, according to a report from IHS.
Oil and Gas E&P Spending to Jump 12% This Year, IHS Says
Capital spending on exploration and production (E&P) by 139 publicly traded oil and gas companies is expected to increase to $406 billion this year, a 12% increase compared with 2010, according to a report from IHS.