Uncertain

With natural gas prices uncertain, there was a “remarkable” step change in deepwater demand and price driving last week’s Gulf of Mexico (GOM) Lease Sale 205, according to Raymond James & Associates.

Australian resources giant BHP Billiton’s proposed liquefied natural gas (LNG) terminal off the Southern California coast from Oxnard begins an uncertain two-week voyage Wednesday with state and federal environmental impact hearings. In the end, two state agencies may end up disagreeing on whether to recommend building the $550 million, 800 MMcf/d project.

The 1,500 residents of the tiny town of Red Boiling Springs, TN, face an uncertain future when it comes to who will be running their natural gas utility. The city council recently failed to approve a franchise for the private company that wants to buy the town’s troubled gas utility.

Uncertain weather conditions have fogged the outlook of the North American natural gas market, but supply and demand fundamentals continue to support favorable pricing in the longer term, Standard & Poor’s Ratings Services (S&P) energy analysts said last weekly.

The 1,500 residents of the tiny town of Red Boiling Springs, TN, face an uncertain future when it comes to their natural gas supply. Last Thursday the city council failed to approve a franchise for the private company that wants to buy the town’s troubled gas utility.

Nabors Industries Ltd., the largest land driller in the world, “recently” has begun to see a weakening in several of its U.S. Lower 48 operating areas and is uncertain how much it may affect industry rig counts and rates, CEO Gene Isenberg said last week. A “significant” reduction in spot market rates is likely in some areas, although he said any contraction in North American natural gas drilling is likely to be “shallow and brief.”

Nabors Industries Ltd., the largest land driller in the world, has “recently” begun to see a weakening in several of its U.S. Lower 48 operating areas and is uncertain how much it will affect industry rig counts and rates, CEO Gene Isenberg said Wednesday. A “significant” reduction in spot market rates is likely in some areas, but any contraction in North American gas drilling is likely to be “shallow and brief.”

The future of The Houston Exploration Co. (Houston Ex) had been uncertain for much of last year. But last week the outlook for the domestic onshore independent came into sharper focus when Denver-based Forest Oil Corp. agreed to acquire the company for $1.5 billion in stock and cash and assumption of $100 million in debt.

The future of The Houston Exploration Co. (Houston Ex) had been uncertain for much of last year. But late Sunday the outlook for the domestic onshore independent came into sharper focus when Denver-based Forest Oil Corp. agreed to acquire the company for $1.5 billion in stock and cash and assumption of $100 million in debt.