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Cash prices Wednesday fell an average of 15 cents nationally and futures weren’t far behind. Traders see the warm weather continuing with some electing to index less gas than usual, anticipating they can make up the difference with favorable purchases of spot gas.

The LaSalle Pipeline — DCP Midstream LP’s project to transport natural gas from the Niobrara Shale in the Denver-Julesburg Basin to markets in Colorado and neighboring areas — has been issued a favorable environmental assessment by the Federal Energy Regulatory Commission. DCP proposes to construct and operate 11.3 miles of 12-inch diameter gas pipeline from its newly constructed LaSalle Gas Plant in Weld County to a proposed interconnect with the Colorado Interstate pipeline. The line would carry up to 230 MMcf/d. The company expects to begin construction on the project by November for completion by March 2013.

October natural gas surged higher Tuesday, and although analysts weren’t quite ready to say the seasonal low is in, they noted that those holding short positions may be ready to throw in the towel. At the close October had risen 9.5 cents to $3.980 and November had advanced 8.8 cents to $4.054. October crude oil jumped $2.02 to $90.21/bbl.

U.S. Department of Energy (DOE) Secretary Steven Chu said Monday the Obama administration was looking for the “best practices” to move forward with hydraulic fracturing (fracking) of shale gas.

Last year “large overseas companies” invested more than $15 billion in U.S. shale plays, and they weren’t putting down the money to “expect juicy margins at $4/Mcf gas,” analysts with Raymond James & Associates Inc. said last week.

Last year “large overseas companies” invested more than $15 billion in U.S. shale plays, and they weren’t putting down the money to “expect juicy margins at $4/Mcf gas,” analysts with Raymond James & Associates Inc. said Monday.

The government of Quebec announced Tuesday that hydraulic fracturing could continue in the province for exploration purposes only, after the release of a much anticipated report that urged further study of the practice.

Incremental acquisitions in the Gulf of Mexico (GOM) weren’t enough to lift McMoRan Exploration Co.’s earnings or production in 2010, but there are signs of a turnaround in 2011, the New Orleans-based operator said last week.

Incremental acquisitions in the Gulf of Mexico (GOM) weren’t enough to lift McMoRan Exploration Co.’s earnings or production in 2010, but there are signs of a turnaround in 2011, the New Orleans-based operator said Tuesday.