Canada’s energy players don’t quite seem to get it. At least, not yet. There is much hand-wringing going on about the depressed state of natural gas prices but nothing is being done.
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Houston-based Apache Corp. has agreed to provide natural gas for export to Asia through a proposed project in Canada, the latest sign that huge gas discoveries in North America are reshaping international energy markets.
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EnCana Corp, Canada’s biggest energy company, established fixed price hedges on about 35 percent of its expected natural gas output as part of its extended risk management program for 2010.
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Canada’s second-leading natural-gas producer plans to drill 50% fewer gas wells this year than it did last year because of sagging prices.
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Canadian oil and natural gas exploration and production company Open Range Energy announced a net income of C$1.07 million for the fourth quarter ended December 31, 2008 when compared to a net loss of C$344,678 for the same period of 2007.
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Rock, a Canada based crude oil and natural gas exploration, development and production company announced its financial and operating results for the three month and twelve month periods ending December 31, 2008.
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By Duncan Sutherland – Exclusive to Gas Investing News
Market news
The high US$6 – mid US$7 NYMEX future price seems to be relatively stable given the incredible volatility of other commodities and market indices.
Though this stability is preventing gas investors from riding the same emotional rollercoaster that most other investors have boarded, it has had a [...]
By Duncan Sutherland – Exclusive to Gas Investing News
Post-Ike news
In the wake of Hurricane Ike, a steady flow of updates on production, refining and transportation infrastructure has been forthcoming. Overall, it seems the storm was relatively gentle to energy companies, reserving its wrath for the population centres of the Texas Gulf Coast.
Natural gas, however, [...]
By Duncan Sutherland – Exclusive to Gas Investing News
Market news
Ouch! Natural gas futures are hovering at six-month lows, in the mid-high US$7 range, on the NYMEX.
Down by almost half their values in July, futures contracts reflect a growing conventional wisdom that demand is not going to keep up with American production “rising at the fastest [...]
Canada’s dealings with Russia, including a pact giving gas giant Gazprom access to North America’s marketplace, are being reconsidered due to Russia’s foray into Georgia.
Canada’s Prime Minister Stephen Harper said:
We’re examining obviously all aspects of our relationship. We’re obviously focusing on aspects that have to with the strategic and military situation, but we will of course review [...]
Tuesday, August 11, 2009