Endeavour International Corp. said it plans to spend 2012 focusing on developing its offshore oil assets and ramping up production in the North Sea while it waits to see the results from tight oil test wells drilled into the Heath Shale play in Montana.
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Technicals Dominate As the Market Waits for Winter
Though it opened and closed at almost the same level, the natural gas futures market was anything but a kiddie’s ride Tuesday as waves of buying and selling led prices on a roller coaster of trading activity.
Sempra Energy Waits on Baja LNG Plans; Eyeing Possible Coalition
As Marathon Oil announced plans for locking up Indonesian supplies for its proposed North Baja liquefied natural gas (LNG) receiving terminal in Mexico last week, Sempra Energy was still waiting for word from Mexican federal government energy officials on its own proposal for a LNG terminal a few miles south of the proposed Marathon site.
Follow-Through Buying Lifts Futures as Market Waits for Updated Storage Data
Despite calls for profit-taking, natural gas futures continued higher Wednesday as buyers pressed prices to new 19-month highs. For a second session in a row, the buying was reportedly dominated by fund traders who, after being flat for more than a month began to accumulate long positions. The buying was heaviest in the January and February contracts, which gained 7.3 cents and 8.1 cents to close at $4.709 and $4.675, respectively. March lagged slightly with a 5.5-cent gain to $4.539. Meanwhile the interest in the back months was considerably less, leaving the summer 2003 strip with a paltry 1.3-cent gain to average $4.235.
Amid Bullish Weather and Bearish Technicals, Market Waits for Storage
For the third time in as many trading sessions, natural gas futures sifted lower throughout much of the session after posting a strong opening print. However, while trading sessions on Friday and Monday finished with a late rally, Tuesday’s trading action saw little or no bounce, prompting bears to eye the downside and bulls to turn in their horns. The August contract finished at $2.889, down 5.8 cents for the session and just several ticks off its $2.885 low on the day.
Amid Bullish Weather and Bearish Technicals, Market Waits for Storage
For the third time in as many trading sessions, natural gas futures sifted lower throughout much of the session after posting a strong opening print. However, while trading sessions on Friday and Monday finished with a late rally, Tuesday’s trading action saw little or no bounce, prompting bears to eye the downside and bulls to turn in their horns. The August contract finished at $2.889, down 5.8 cents for the session and just several ticks off its $2.885 low on the day.
California Waits for Solutions from Sacramento
While the clocks tick and the calendar pages keep turning,California keeps churning out court and regulatory cases fasterthan legislative solutions for its nagging energy woes.
After 60-Cent Price Erosion, Market Waits on Weather
After watching prices tumble 10% last week, bears in the naturalgas pit were content to cool their heels Friday in an amazinglyquiet trading session. The November contract slumped just 1.4 centsto close at $4.937 Friday after trading within a tight, 13-centtrading range. Estimated volume was light, with just 63,929contracts changing hands.
Multiple Basins Starring In Gas Supply Plot
As the curtain slowly falls on gas supply from the Gulf ofMexico Continental Shelf, the deep-water waits in the wings.Canadian producers are scripting their role on the U.S stage. Andthe Alaskan gas play’s Lower 48 audience can’t buy tickets to theshow for about a decade.
Multiple Basins Starring in Gas Supply Plot
As the curtain slowly falls on gas supply from the Gulf ofMexico Continental Shelf, the deep-water waits in the wings.Canadian producers are scripting their role on the U.S stage. Andthe Alaskan gas play’s Lower 48 audience can’t buy tickets to theshow for about a decade.