In recent history, gas prices have generally followed a relatively seasonal pattern with prices rising during the summer driving season and falling after Labor Day. However, 2010 has seen a reversal in this pattern; the national average price has risen by 30 cents per gallon since Labor Day, the largest increase over that period since the 1990 inception of Energy Information Agency (EIA) weekly published retail gasoline price data. The current average price range in the US for the third week of December of approximately $2.98 per gallon is the second highest on record, eclipsed only by the 2007 average price reaching $3.00 per gallon.
Denbury Resources Inc. declared that it will sell 60 percent of its Barnett Shale natural gas assets for $270 million to privately held Talon Oil & Gas LLC, and announced that it plans to adjust its 2009 production outlook on completing the sale. Chief Executive Gareth Roberts stated: We plan to use these funds to [...]
El Paso Corporation announced its financial and operational outlook for 2009. For more information, click here
There is no comfort provided by this update as we expect that the [natural gas] price softness seen in the early stages of 2009 will extend throughout the calendar year, the First Energy Capital analyst wrote in a note to clients For full story, click here
Queensland Gas is betting on a shining outlook for the development of the liquefied natural gas industry with the acquisition of Sunshine Gas. For more information, click here For company’s website, click here
Thursday, December 23, 2010