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Colorado has 40 times more natural gas than thought

natural gas, Colorado, hydraulic fracturing

DENVER (AP) — Western Colorado has 40 times more natural gas than previously thought, but an immediate boom is unlikely because of low gas prices, government and industry experts said Wednesday. The U.S. Geological Survey said the Mancos Shale formation in Colorado’s Piceance (PEE’-yahns) Basin holds about 66.3 trillion cubic feet of gas, up from 1.6 trillion estimated in 2003. ...

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US stocks fall in global slump as energy companies skid

US stocks fall in global slump as energy companies skid

NEW YORK (AP) — U.S. stocks are skidding Monday morning as global stocks also took losses. Energy companies are falling the farthest although the price of oil is little changed. Companies including Xerox and drugmaker Perrigo are down after reporting disappointing earnings. KEEPING SCORE: The Dow Jones industrial average fell 137 points, or 0.8 percent, to 17,866 as of 10:40 ...

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Federal suit to stop Halliburton, Baker Hughes deal

Federal suit to stop Halliburton, Baker Hughes deal

WASHINGTON (AP) — The Justice Department on Wednesday sued to stop Halliburton Co. from acquiring oilfield services rival Baker Hughes Inc., saying the deal would harm consumers and eliminate head-to-head competition. The proposed transaction, valued at nearly $35 billion, would combine two of the world’s three leading providers of those services to oil and gas companies and create a bigger ...

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23.5M acres off Texas up for oil, gas leases in August

23.5M acres off Texas up for oil, gas leases in August

NEW ORLEANS (AP) — The federal government will offer 23.5 million acres off of Texas for oil and gas leases in August. The Bureau of Ocean Energy Management says that’s all the available waterbottom in the western Gulf of Mexico. Spokesman John Filostrat (FIL-oh-strat) says the agency has not chosen a date or location. Last August marked the smallest sale ...

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US stocks rising as crude oil prices get lift

US stocks rising as crude oil prices get lift

NEW YORK (AP) — Stocks are turning higher in early trading Wednesday on strong earnings reports and a rise in crude oil prices. Several energy companies are rising sharply after getting a beat-down the day before. Oil-rig operator Transocean is up 5 percent. KEEPING SCORE: The Dow Jones industrial average rose 40 points, or 0.2 percent, to 17,004 as of ...

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Entergy Mississippi cuts rates by $102M as natural gas dips

Entergy Mississippi cuts rates by $102M as natural gas dips

JACKSON, Miss. (AP) — Entergy Mississippi just can’t cut electrical rates fast enough to keep up with falling natural gas prices, and Mississippi Power Co. isn’t far behind. The unit of New Orleans-based Entergy Corp. will cut rates by $102 million in coming months on its 442,000 Mississippi customers. For residential customers who use 1,000 kilowatts of electricity per month, ...

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Gasoline price jumps by 7 cents over past 2 weeks

gas prices, gasoline

CAMARILLO, Calif. (AP) — The average price of gasoline has jumped by 7 cents over the past two weeks, to $1.84 a gallon. Industry analyst Trilby Lundberg said Sunday that despite the increase, the price is 70 cents per gallon cheaper than a year ago. Lundberg says the moderate price hike is due to growing demand for gasoline across the ...

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