The NYMEX September gas futures contract is currently trading at $4.01/MMBtu., $0.02 higher than yesterday's settlement. The 12 month strip is trading at $4.37/MMBtu(Up $0.01) and next year's winter strip (Nov 11 - Mar 12) is trading at $4.41/MMBtu (Up $0.02).

EPA Fracking Study Nearing an End

            The EPA's investigation into the process of Fracking and its environmental impact is almost over and New York States Commissioner of the Department of Environmental Protection, Joe Martens, doesn't expect much.

            "There is no evidence that we found that fracking fluids can migrate through that ... distance and those zones," said Martens, "We just don't see any risk from the deep horizontal well that is very far underground and migration up to the lowest level of fresh water."   

            New York State expects to begin issuing permits to drill for Natural Gas early next year.

Marcellus Production Still Booming

            Marcellus Shale production is still growing, and is doing so faster than it ever has.

As of the end of July, more than 1000 Marcellus wells have been added this year alone. It took until mid-September to reach that number last year, and that number was never reached in 2009.

            The Pennsylvania DEP has issued 1915 permits to drill for Natural Gas through July of this year. In 2010, the DEP had issued 1721, and in 2009 they had issued only 999 through the end of July.