Continued softness in U.S. natural gas prices and a slight uptick in coal prices likely will lead to more coal-to-gas switching in 2011, Raymond James & Associates Inc. analysts said Monday.
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November Adds a Penny Ahead of Fresh Storage Data
The November natural gas futures contract started its reign much like the October contract finished its own on Tuesday — quietly, but with a small uptick. The newly minted prompt-month contract traded between $3.903 and $3.980 before closing out the regular session Wednesday at $3.962, up 1.1 cents from Tuesday’s close.
Gas Rig Count Climbs for Fifth Straight Week
The number of rigs activity exploring for natural gas in the United States continued to climb last week, marking the fifth week in a row for an uptick, said three oilfield service firms that keep track of U.S. drilling.
Futures Fall Ahead of Fresh Storage Data
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.
Futures Fall Ahead of Fresh Storage Data
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.
Patterson-UTI Sees ‘Renewal of Optimism’ for Onshore Drilling
North American onshore drilling contractor Patterson-UTI Energy Inc. (PTEN) has seen an uptick “in all segments” but steep declines in hydraulic fracturing and cementing services in North American operations, coupled with reduced pricing for services, sent BJ Services Co. earnings into a spiral in fiscal 1Q2010.
Patterson-UTI Sees ‘Renewal of Optimism’ in Onshore Drilling Market
North American onshore drilling contractor Patterson-UTI Energy Inc. (PTEN) has seen an uptick “in all segments” but it’s particularly strong in the Marcellus, Haynesville and Bakken shale plays, the company’s management team said Thursday.
Patterson-UTI Sees ‘Renewal of Optimism’ in Onshore Drilling Market
North American onshore drilling contractor Patterson-UTI Energy Inc. (PTEN) has seen an uptick “in all segments” but it’s particularly strong in the Marcellus, Haynesville and Bakken shale plays, the company’s management team said Thursday.
Bastardi: Northeast Winter Could be Coldest in Five Years
Cooler-than-normal weather in the Northeast this summer could be a hint that a cold, snowy winter is in store for an area stretching from Boston to Washington, DC, according to AccuWeather.com Chief Long Range Forecaster Joe Bastardi.
Seventy-Five Bcf Storage Build, Crude Uptick Help Natgas Inch Higher
A “supportive” 75 Bcf natural gas storage build teamed with a small uptick in crude futures values to halt the August natural gas futures down-day streak at seven as the contract picked up 5.5 cents Thursday to close at $3.408.