NEW YORK, NY — (Marketwire) — 09/01/11 — Last month–s sudden economic downturn caused significant unrest in the natural gas market. According to naturalgas.org, the state of the US economy can have a considerable effect on the demand for natural gas in the short term, particularly for industrial consumers. When the economy is expanding, output from industrial sectors is generally increasing at a similar rate. The Bedford Report examines investing opportunities in natural gas and provides stock research on United States Natural Gas Fund (NYSE: UNG) and Chesapeake Energy Corporation (NYSE: CHK). Access to the full company reports can be found at:
The price of natural gas has improved this week as power started to come back in the East following widespread outages caused by Hurricane Irene. Gas also got a boost Wednesday from the shutdown of a major pipeline in the Gulf of Mexico that has operating problems. The Destin Pipeline transports gas from offshore wells in the Gulf to processing facilities in Mississippi that send gas on to major interstate pipelines.
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Shale gas has become an important feature of US energy supply. Daily production has increased from less than 1 billion cubic feet of gas per day (bcfd) in 2003, when the first modern horizontal drilling and fracture stimulation was used, to almost 20 bcfd by mid-2011.
One of the largest gas producers in North America, Chesapeake Energy, said it was looking for partners to help develop shale deposits in Ohio. Chesapeake chief executive officer, Aubrey McClendon, said he was looking for an entity to take on a 25 percent stake in its Utica shale field in Ohio.
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