Word

While TransCanada Corp. awaits word from Canada’s National Energy Board (NEB) on its Mainline toll restructuring, executives are gaining confidence that a portion of the pipeline has a future moving western Canadian and Bakken Shale crude eastward.

The latest word from New Jersey Natural Gas (NJNG) is that the entire natural gas distribution system on the barrier island has been compromised, officials of hurricane-ravaged Seaside Heights, NJ, told residents of the borough on its website.

Arthur Brisbane, who acts as the “readers’ representative,” wrote an opinion piece in the Sunday Times following accusations by critics that the newspaper and reporter Ian Urbina had used “fear mongering” to criticize the industry, comparing it to a “Ponzi” scheme with a future like Enron Corp. or the dot-com bubble (see Shale Daily, June 28). Brisbane researched the methods used by the reporter and editors and followed up with his commentary.

Natural gas futures declined about 8 cents following word from the Energy Information Administration (EIA) that 73 Bcf was injected into underground storage for the week ending Sept. 17. While the build paled in comparison to the previous week’s 103 Bcf addition, it did top both last year’s date-adjusted 67 Bcf build for the week and the five-year average build of 70 Bcf.

After rallying nearly 30 cents on Thursday following word of a 78 Bcf storage injection for the week ending July 9, August natural gas futures finished the week on a weaker note Friday as the contract closed the regular session at $4.519, down 6.7 cents from Thursday’s close but 11.7 cents higher than the previous week’s finish.

“Terrific” may not be the first word that comes to mind when describing the economy in 2009, but for investors in natural gas and oil stocks, last year was absolutely divine, with nearly 85% of the stocks in the global market delivering positive returns, according to a report issued last week by energy research firm IHS Herold.

“Terrific” may not be the first word that comes to mind when describing the economy in 2009, but for investors in natural gas and oil stocks, last year was absolutely divine, with nearly 85% of the stocks in the global market delivering positive returns, according to a report issued Monday by energy research firm IHS Herold.

After pausing for fresh natural gas inventory news, traders returned pressure temporarily to the upside in natural gas futures Thursday following word that a smaller-than-expected 66 Bcf was injected into underground storage for the week ending Sept. 11. However, the rally gave out after reaching a five-week high of $3.900 as the October contract collapsed to close out the regular session at $3.458, down 30.2 cents from Wednesday’s finish.

October natural gas futures broke down into the heart of a major support band Thursday morning after the industry received word from the Energy Information Administration (EIA) that a hardy 65 Bcf was injected into underground storage for the week ending Aug. 28. The prompt-month contract dipped into the $2.50s in early trade Thursday and never recovered, closing at $2.508, down 20.7 cents from Wednesday’s regular session close.