Trend

Following record-cold December temperatures, AccuWeather.com chief long range forecaster Joe Bastardi said he sees the frigid trend extending coast-to-coast through mid- to late January.

Following record-cold December temperatures, AccuWeather.com chief long range forecaster Joe Bastardi said he sees the frigid trend extending coast-to-coast through mid- to late January.

While economists say the recession has ended and some economic indicators have begun to trend upward, continued weak demand led to another decline in natural gas marketing during the third quarter, with the total volume sold in North America tumbling 4% — nearly 5 Bcf/d — according to NGI’s 3Q2009 Top North American Gas Marketers Ranking. read more

Houston-based Goodrich Petroleum Corp. said Monday its preliminary 2011 capital expenditure budget is $225 million, a $30 million reduction from 2010 spending; however, production is expected to grow.

Falling in line with the recent trend of producers targeting more liquid shale plays due to the better economics, Hess Corp. announced it is paying $1.05 billion in cash to acquire 167,000 net acres in the Bakken Shale of North Dakota from TRZ Energy LLC.

The modest Midwest warming trend that had helped boost most of the market slightly a day earlier proved to be short-lived, and so did the small rally as prices fell at a majority of locations Thursday.

Reinforcing a growing trend toward dual natural gas transportation fueling outlets, a Los Angeles industrial suburb, the City of Commerce, last Monday opened a fueling station offering both compressed natural gas (CNG) and liquefied natural gas (LNG). The new term is LCNG fueling, according to Seal Beach, CA-based Clean Energy Fuels Inc., which is providing the LNG and operating/maintenance at the station under contract to the city.

Reinforcing a growing trend toward dual natural gas transportation fueling outlets, a Los Angeles industrial suburb, the City of Commerce, on Monday opened a fueling station offering both compressed natural gas (CNG) and liquefied natural gas (LNG). The new term is LCNG fueling, according to Seal Beach, CA-based Clean Energy Fuels Inc., which is providing the LNG and operating/maintenance at the station under contract to the city.

Tuesday’s uptick in near-month natural gas futures was exposed as mere short-covering on Wednesday as the May contract returned to the recent trend of plumbing the downside. The front-month contract reached a low of $3.860 before closing out the regular session at $3.869, down 10.4 cents from Tuesday’s finish.