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Tag Archives: natural gas prices

US stock indexes slip as consumer goods makers fall

NEW YORK (AP) — U.S. stock indexes are mostly lower Tuesday morning. Consumer goods companies are falling despite a report that showed spending by consumers jumped last month by the largest amount in six years. Major U.S. indexes are wrapping up a strong month that has brought them near their highest levels of 2016. KEEPING SCORE: The Dow Jones industrial ...

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West Virginia lawmakers resume work on long-delayed budget

West Virginia lawmakers

CHARLESTON, W.Va. (AP) — With no agreement on specific tax hikes, budget cuts or swipes into reserves, West Virginia lawmakers returned Monday to negotiate a long-delayed budget hampered by the coal industry’s downfall and low natural gas prices. Democratic Gov. Earl Ray Tomblin called the Republican-led Legislature back for the first time in two months to rekindle talks about the ...

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New Mexico moves to cut spending to offset oil bust

An oil and gas drilling rig operating in the Permian Basin near Farmington, New Mexico. (Image courtesy of Encana Corp)

SANTA FE, N.M. (AP) — The state of New Mexico slashed revenue projections for this year and next by a quarter-billion dollars because of low oil and natural gas prices and took initial steps Saturday toward reducing general fund spending next year. A somber Senate Finance Committee unveiled budget amendments that would shave spending across state agencies this fiscal year, ...

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Marcellus jobs market takes another beating

rig worker

Low natural gas prices just keep hitting oil and gas industry workers in the Marcellus Shale. The state Department of Labor figures show 2,262 fewer oil and gas jobs when comparing quarter two of 2015 to 2014. Cabot Oil and Gas announced in a press release  a 58 percent reduction to $325 million as opposed to $774 in 2015. The ...

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Natural gas income from Pennsylvania forests takes big fall

HARRISBURG, Pa. — A drop in natural gas prices is now also affecting the state of Pennsylvania’s coffers. The state forests department says that lease payments and royalty income from natural gas drilling on state forests dropped by 46 percent. That’s over the first six months of the current fiscal year, compared to the same period a year earlier. The ...

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Oklahoma-based Devon Energy plans layoffs over next few months

OKLAHOMA CITY — Oklahoma City-based Devon Energy Corp. has announced that it is planning employee layoffs over the next few months. Company executives made the announcement during a town hall meeting with employees Wednesday morning. Spokesman Tim Hartley said that the layoffs are a necessary part of cost management efforts for Devon as oil and natural gas prices remain weak. ...

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Fuel price drops for third consecutive quarter

LAKELAND — With natural gas prices remaining low and coal prices falling to remain competitive, Lakeland Electric is reducing fuel charges by almost 8 percent at the start of the year and expects the savings to continue through 2016. The $3.50 reduction per 1,000 kilowatt-hours of energy used — $43.85 to $40.35 — will reduce the fuel price for the ...

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Study: Lack of energy infrastructure would cripple New England

A study funded by trade groups representing the oil and natural gas industries is predicting dire consequences for New England if the region doesn’t improve its energy infrastructure by the end of the current decade. The 68-page report released Thursday was prepared for the New England Coalition for Affordable Energy, a Boston-based advocacy group. But it was sponsored by two ...

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Natural gas rates to fall for some customers

Falling natural gas prices will mean the smallest average bills in a decade for thousands of Clark and Champaign county customers this winter. Customers on Columbia Gas of Ohio’s budget payment plan will likely average $62.88 per month this winter, said Shanelle Hinkle-Moore, the company’s external affairs specialist. That price is down from an average of about $80 per month ...

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Rice Energy widens loss

Rice Energy Inc. recorded a loss of $69.7 million, or 51 cents per share, for the second quarter. During the same time last year, the Canonsburg-based oil and gas company posted a loss of $7.9 million, or 6 cents per share. Rice drills for oil and gas in the Marcellus Shale in southwestern Pennsylvania and in the Utica Shale in ...

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