Physical natural gas values fell an average of approximately 8 cents Thursday for Friday delivery as the retreat was in full swing prior to the release of Energy Information Administration (EIA) storage data.
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Berkshire Hathaway Unit Buying NV Energy
A Berkshire Hathaway Inc. unit agreed Wednesday to buy Las Vegas utility NV Energy Inc. in a deal that values the company at about $5.59 billion with an enterprise value of close to $10 billion.
A ‘Miss’ in Lime Sale for Chesapeake? Operators Remain Optimistic
The deal that Chesapeake Energy Corp. made on Monday to sell half its leasehold in the Mississippian Lime was calculated at around $2,500/acre gross, or less than $1,000/acre net, not necessarily the price that the market had been expecting. The lower expected price may be attributed to several things, said analysts: foreign firms getting more savvy about undeveloped leaseholds, the value of the formation, or Chesapeake’s hurry to fix its balance sheet.
Strong Northeast, Firm SoCal Counter Overall Weakness; Futures Rise
Physical natural gas values fell at a majority of points on Monday as early weakness in the futures added a soft tone to the market and the market forces of minimal supportive weather and ample if not burdensome storage prevailed.
Ohio Gas/Oil Shale to Add 65,000 Jobs, $4.9 Billion, Academic Study Says
Natural gas and oil drilling in Ohio could create 65,000 jobs and add nearly $5 billion to state coffers by 2014, according to an academic study.
EPA: Gas Distribution Possible Without CNYOG’s Marcellus Project
Central New York Oil and Gas Co.’s (CNYOG) proposed MARC-I Hub Line Project, which would deliver additional Marcellus Shale and Trenton Black River natural gas to Northeast markets, may not be needed, according to the Environmental Protection Agency (EPA).
Cash Slides a Second Day on Screen Weakness
Continuing to take cues from the sagging natural gas futures complex, cash market values far and wide slid for a second straight day on Wednesday, shrugging off forecasts for a heat-wave return for much of the East.
All Points Lower; Trader Sees Limited Upside
Finally responding to the 40.2-cent drop in front-month natural gas futures values from last Thursday’s high of $4.983, cash point averages across the board came off significantly on Tuesday for Wednesday delivery.
Prior-Day Screen Boost Pushes Cash Higher
Unable to ignore the 22-cent hike in April natural gas futures values on Thursday, cash point averages across the country followed suit on Friday with upticks mostly between a dime and 20 cents.
Storage-Fueled Futures Surge Peters Out
Natural gas futures values knee-jerked higher Thursday morning following the news from the Energy Information Administration (EIA) that 135 Bcf was withdrawn from underground storage for the week ending Dec. 31. However, the sentiment was short-lived as February futures declined in the afternoon to finish the regular session at $4.434, down 3.9 cents from Wednesday’s close.