(Photographer: Eddie Seal, Bloomberg)

Magnum Hunter shares could be de-listed, NYSE says

A punishing summer oil slump sent Magnum Hunter Resources Corp.’s shares below $1 apiece last month as it reported its crude and natural gas revenues in the second quarter came in sharply lower than last year, when oil was trading around $100 a barrel.
A multibillion-dollar expansion of  Dow Chemical Co's Freeport complex is one of many Gulf Coast petrochemical projects driven partly by low-priced U.S. natural gas.  (Dow Chemical Co. photo)

Taiwanese company proposes $9.4 billion chemical project in Louisiana

Formosa Chairman Bao-Lang Chen and Louisiana Gov. Bobby Jindal jointly announced the feasibility study for the project that would produce ethylene.
A Noble Energy rig off the south coast of Cyprus in the Mediterranean Sea. (AP Photo/Cyprus Press and Information Office, File)

Noble Energy: Egyptian find won’t derail plans to sell Israeli gas

In a statement Thursday, Noble’s CEO said there’s enough demand that no single discovery is large enough to satisfy the region’s needs.
A spinoff of National Oilwell Varco announced plans to buy a company that supplies the energy industry with pipes, valves and fittings.

EV Energy to buy gas-rich land for $259 million

The Houston oil producer has agreed to purchase land near its own in the Appalachian Basin in Ohio and Pennsylvania, the San Juan Basin in New Mexico, the Austin Chalk in South Texas other fields in Michigan.

Global economic worries keep crude in check

As opposed to the usual free-form structure, let’s do some painting by numbers to color in the backdrop for today’s market currents. Henceforth, five observations ahoy: 1) There is an interesting piece out this morning addressing the dichotomy seen within US shale producers, as some chose to hedge fairly aggressively in Q2, while some chose […]
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Liquefied natural gas export terminals including Cheniere Energy's $18 billion Sabine Pass facility nearing completion  in Cameron Parish, Louisiana,  should boost demand for U.S. natural gas. (Cheniere Energy photo)(Cheniere Energy)

Gas exports from Iran, Egypt seen threatening U.S. ambitions

Projects from North America to East Africa and Australia may be impacted as Iran progresses with its “supergiant” South Pars gas field and after Eni SA’s discovery of massive resources offshore Egypt.

Commentary: Focus for oil is on inventory, jobs data

Once again, the API has put the cat among the pigeons ahead of the weekly EIA inventory report. Prices had already spent yesterday getting stomped on all day, before the API released its report, revealing a surprise 7.6 million barrel build versus the expectation for a minor 0.8 mb draw. This was the largest build […]
Original byline: Jim Blecha/

GE’s Lufkin Industries closing plant, making layoffs

This is the third major job reduction by GE’s Lufkin Industries this year and the second and its Foundry plant, which is effectively being closed through this mass layoff, the company said in a letter to the Texas Workforce Commission.
The EPA heard radically different views as it opened public hearings in Denver on its proposal to slash allowable methane emissions from oil and gas production. (Lucas Schifres/Bloomberg)

Raymond James cuts natural gas price forecast

Raymond James lowered its long-term natural gas price estimates Monday, putting the investment banking firm in a growing group of analysts seeing a bleaker future for the fuel.
The Tamar Lease natural gas rig, located 90 kilometers west of the city of Haifa in northern Israel. Recent discoveries of massive offshore natural gas deposits, set to begin flowing in the coming days, are turning into a mixed blessing for Israel. (AP Photo/Albatross Aerial Perspective, File)

Italy’s Eni finds ‘supergiant’ natural gas field off Egypt

Eni said the discovery — made in its Zohr prospect “in the deep waters of Egypt” — could hold a potential 30 trillion cubic feet of gas over an area of 100 square kilometers (38.6 square miles).