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Beyond playing the energy sector with individual oil stocks or an exchange-traded fund such as the U.S. Oil Fund (USO) - Get United States Oil Fund LP Report, how much do you know about investing in the natural gas industry?

The following are key insights from

TheStreet.com

.

From

Oil Follows Rollercoaster Path Thursday

:

Natural gas futures dove from roughly $8.25 per million British thermal units to below $7.75 per million British thermal units in less than 10 minutes midmorning

Sept. 18.

The cause of the extreme volatility in natural gas isn't entirely clear. Jim Williams, economist at WTRG economics in Arkansas, said in an email that the fall may have been connected to the near-implosion of

Constellation Energy

(CEG)

, which got a downgrade in the morning from Citigroup and by midday had a buyout offer from a Warren Buffett-controlled company.

Read the full version of

Oil Follows Rollercoaster Path Thursday

. (Related:

TheStreet Recommends

Constellation Energy Attracts $4.7 Billion Bid From Buffet

)

From

The Real Story With Frank Curzio: More Potholes on Wall Street

(Audio, Sept. 17):

Chuck Marvin: "Anybody who's looking to invest in some of these natural gas companies right now, it's really important to look at where they

the wells are, is there existing infrastructure pipeline -- or do new pipelines need to be built -- and how long are the lease terms? Because these things can collapse and can essentially implode really, really quickly."

To listen to the full version of Curzio and Marvin's natural gas discussion, go to

The Real Story page

and click "More Potholes on Wall Street."

From

Cramer: A Winning Play for 2010

(Video, Sept. 3):

Cramer:

"

Transocean

(RIG) - Get Transocean Ltd. Report

comes out today and says that there's a gigantic increase in day rates. Brazil comes out and says they may have four times the amount of natural gas in one field. All these things mean one thing: We need more rigs... I think that you have to look at natural gas as a 2009, 2010 story. And if you're selling it here, you're literally just reacting to the tick-by-tick of the natural gas futures."

To watch the video, click the player below:

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From

Cramer's 'Mad Money' Recap: Sept. 2

:

Jim Cramer talked with

Clean Energy

(CLNE) - Get Clean Energy Fuels Corp. Report

president and CEO Andrew Littlefair about his company's outlook as interest in natural gas as an alternative fuel heats up ahead of the November elections.

Littlefair said that passage of Proposition 10, a California ballot initiative, will devote $3 billion to alternative fuels, signaling a boon for not only his company, but also for the entire alternative fuel industry. He said that this one initiative alone could displace as much as 1.5 billion gallons of gasoline and diesel fuel a year.

Littlefair said that while he sees ethanol as an important step towards alternative fuels, only natural gas in its liquefied or compressed forms, can deliver the big numbers needed to reduce the country's need for foreign oil.

Read the full article.

Plus, don't miss Cramer's take on the long-term positives of natural gas in this video on

TheStreet.com TV

:

Cramer: Natural Gas Pains Won't Last

(Aug. 20).

From

Cramer Interviews Chesapeake Energy CEO

(Video, Aug. 1):

Jim Cramer:

"Tell me what you've been up to in Washington?

Aubrey McClendon, CEO of Chesapeake Energy (CHK) - Get Chesapeake Energy Corporation Report

: "Was in Washington this week, having conversations with Congressional leaders about energy policy. Basically talking about how we can begin to move our transportation network away from expensive, dirty, imported oil to clean, affordable, abundant, American natural gas. And if we can do that, we can bring $2 gasoline back to the American people... This conversation that I've embarked on in Washington, I couldn't have had three or four years ago and the reason for that is these technological breakthroughs we've had in accessing gas from all these shale formations... They absolutely allow this country to address its energy issues and its environmental issues with a clean slate of paper."

Watch the video on TheStreet.com TV.

Plus, don't miss this Chesapeake-focused video on

TheStreet.com TV:

Cramer: Chesapeake Energy's Got Legs

(Jul. 25).

From

TSC Power Stocks: Chesapeake Energy

:

During the week of July 28,

TheStreet.com

readers searched for the following 10 stocks more than any others.

3. Chesapeake Energy:

Across the board, great values are being created in the natural gas sector. The stocks got walloped as natural gas futures collapsed from over $13 to $9 and change recently.

Natural gas is not going away. In fact, we will be using a lot more of it in the future because it's a clean-burning fuel that is abundant here in the U.S.

Read the full article.

To listen to Chesapeake's second-quarter earnings conference call,

click here

.

From

Cramer: The Cheapest Energy Stock Worth Buying

(Video, Jul. 30):

Jim Cramer:

"When you see the Marcellus Shale numbers... you're going to wish you were in there... and

Cabot's

(COG) - Get Cabot Oil & Gas Corporation Report

Marcellus... the one

natural gas company that is cheapest is now Cabot... Cabot's spent a fortune buying up acreage and I think it's going to really pay off."

To watch the video, click the player below:

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From

ExxonMobil Strikes Oil, Nat Gas Deals

:

The oil giant

Exxon Mobil

(XOM) - Get Exxon Mobil Corporation Report

and a subsidiary will invest $1.1 billion to develop more than 270 million oil-equivalent barrels from the Turrum field in the Bass Strait, offshore southeast Australia, the company said. That follows an earlier announcement that it will partner with Australian miner

BHP Billiton

(BHP) - Get BHP Group Ltd Sponsored ADR Report

in a $1 billion deal to develop natural gas from the Kipper field, also in the Bass Strait.

Read the full article.

From

Find the Bottom in Natural Gas

(Video, Jul. 25)

David Peltier finds value in natural gas following the recent pullback in the energy patch.

Peltier:

"One of the names I really like here, is

El Paso

(EP)

... they have two sides of the

natural gas business, but I think because of this, the company as a whole, is being undervalued."

Watch the video on TheStreet.com TV.

Plus, don't miss these natural gas-focused "Wall Street Confidential" videos with Jim Cramer on

TheStreet.com TV

:

Cramer: Chesapeake Energy's Got Legs

(Jul. 25),

Cramer: It's the Year of Natural Gas

(Jul. 15),

Cramer: Why Nat Gas Is a U.S. Story

(Jul. 9),

Cramer: Natural Gas Rules

(Jul. 2),

Cramer: Why Nat Gas Is for Keeps

(Jun. 17),

Cramer: One Gas Play Can Make Your Year

(May 21),

Cramer: Buy Nat Gas Now, Wind in '09

(May 15),

Cramer: Natural Gas Dip Not Due to Dollar

(Apr. 28),

Cramer: Make Money With Natural Gas

(Apr. 15) and

Cramer: Dems Will Make This the Year for Natural Gas

(Mar. 28).

From

Cramer's 'Mad Money' Recap: Reaping the Benefits of High Oil Prices

:

Cramer says big oil just cannot take advantage of the higher oil prices because they either just can't drill for enough oil, or they expected oil prices to retreat and hedged their bets. Some signed contracts with foreign governments that backfired.

That hasn't been the case, he emphasized, with oil stocks that have natural gas exposure.

They include

XTO Energy

(XTO)

,

Southwestern Energy

(SWN) - Get Southwestern Energy Company Report

and El Paso.

Read the full article.

For more natural gas and oil investment ideas from Cramer, read his five-part "Mad Money" series on "wildcat" drillers:

Cramer's 'Mad Money Recap': How to Beat High Oil Prices

,

Cramer's 'Mad Money Recap': Putting Housing Ahead of Inflation

,

Cramer's 'Mad Money' Recap: Peru Play

,

Cramer's 'Mad Money' Recap: A Home-Grown Natural Gas Play

and

Cramer's 'Mad Money' Recap: Next Week's Game Plan

.

From

Should You Buy It? Forest Oil

:

Back on June 30, the

Forest Oil

(FST) - Get FAST ACQUISITION CORP Report

disclosed that it had 90,000 net acres of leasehold land in the Haynesville Shale (Texas/Louisiana), with a resource potential of 5 trillion cubic feet (Tcfe) of natural gas equivalent. Forest ended 2007 with proven reserves of just 2 trillion Tcfe of natural gas.

Production is not expected to ramp at the company's Haynesville site until 2009. In the meantime, Forest will drill 10 to 15 new vertical pilot wells in the second half of the year.

The company also plans to drill four horizontal test wells at the Utica shale in Quebec, beginning this month. As a result, Forest Oil is taking advantage of rising natural gas prices and targeting to spend $1.15 billion to $1.25 billion on exploration and drilling in 2008 and generate 15% annual organic production growth over the next couple of years.

Read the full article.

Plus, don't miss

Forest Oil Still on Fire

on

TheStreet.com TV

. To watch the video, click the player below:

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From

How to Play $200 Oil

:

Anadarko

(APC) - Get Anadarko Petroleum Corporation Report

is especially prepared for the prospect of $200 oil, both on the natural gas side and on the oil side. It has international exposure, but with oil that high, transportation costs will become an issue for the major oil companies. For U.S. domestic usage, the Gulf of Mexico is a strong local source. Anadarko is drilling deep to develop new fields, and it has the best rig inventory lockups in the Gulf. In both the Miocene and Lower Tertiary Prospects, it is planning on drilling an additional 10 to 15 wells for exploration and appraisal. More oil and gas means more profit.

On land, Anadarko has an equally impressive record.

Read the full article.

Plus, don't miss these Anadarko-focused videos on

TheStreet.com TV

:

Cramer: Why I Love Anadarko

(May 6) and

Cramer Interviews Anadarko Petroleum CEO

(Mar. 25).

Need Natural Gas Exposure? Don't Know Where to Start?

In "

How to Outperform the Market and Manage Risk With ETFs

," Scott Rothbort writes that you can use an industry-specific exchange-traded fund (ETF) as a "placeholder" as you do the necessary homework on individual stocks. The

United States Natural Gas Fund

(UNG) - Get United States Natural Gas Fund LP Report

is a natural gas-focused ETF.

To stay up to date on natural gas, visit the

TheStreet.com's

Energy/Commodities section

.

This article was written by a staff member of TheStreet.com.