Natural Gas Week articles from April 2003

Natural Gas Week archives from April 2003

Storm chaser. (Late News).
April 7, 2003... Veteran hurricane forecaster William Gray last week issued updated hurricane season forecast. He expects 2003 Atlantic basin hurricane activity to be 140% of average with 12 named storms between Jun. 1 and Nov. 30. Eight storms expected to...

All American pipeline. (Late News).
April 7, 2003... Duke Energy Gas Transmission last week began construction on Patriot extension of its East Tennessee Natural Gas (ETNG) system. Work began with looping of existing ETNG system and horizontal directional drill under New River in Wythe County,...

Sagging sooners. (Late News).
April 7, 2003... Oklahoma Corporation Commission last week reported decline in natural gas production for 2002 to 1.5 Tcf from 1.6 Tcf in 2001. From November 2002 to December 2002, gas production fell by 6.3 Bcf. Average Oklahoma gas price for 2002 was...

Average cash prices & futures strip. (Late News).
April 7, 2003... Mild national temperatures and a bearish storage report tempered natural gas prices last week. [GRAPH OMITTED]

US gas injection season starts with record low inventories.
April 7, 2003... The next several weeks should provide a good indication of the clearing price required in gas markets to accommodate both base-load industrial demand and the huge volume of storage gas that must be injected by next winter. Weather demand looks...

War may add security wrinkles to Cove Point's spring start-up. (Late News).
April 7, 2003... Will the spring reopening of the 1-Bcf/d Cove Point, Maryland, liquefied natural gas (LNG) terminal fall victim to the US-led war on Iraq? Safety concerns surrounding the imports of LNG--whether rational or not--have already delayed the restart...

Pioneer starts up Falcon field, but '03 outlook poor in Gulf. (Late News).
April 7, 2003... Pioneer Natural Resources began production at its Falcon gas field in the Gulf of Mexico in mid-March, about two weeks ahead of schedule and at a higher volume than originally projected. The additional Falcon production will help arrest...

Congress advances energy bills; house version tackles RTOs.
April 7, 2003... Congress last week tackled energy questions on a number of fronts, with separate committees in both the House and Senate passing key energy markups. Issues of division include electricity, Arctic drilling, and whether incentives should be...

Merchant companies rework debt but not everyone benefits.
April 7, 2003... Several struggling energy merchant companies made strong moves last week to refinance crushing debt and raise themselves back to investment grade credit ratings. Reliant Resources struck a deal with some 24 creditors who agreed to a $6.2...

EOG considers supply for Trinidad LNG.
April 7, 2003... Breaking the silence on the future of Trinidad's proposed Train 4 liquefaction plant, EOG Resources last week said that it is in negotiations to provide upstream gas to the Atlantic LNG (ALNG) project. This could be read as an indication that,...

Conservative business approach paying dividends for Dominion.
April 7, 2003... When investment bankers told Dominion Resources it ought to become a big trading company along the lines of Enron, or to expand into the international arena, or to follow anyone of the "new economy" strategies in vogue during the late-1990s,...

Major market prices.
April 7, 2003... MAJOR MARKET PRICES April 7, 2003 ($/MMBtu) This Weekly Bid Week Week Change for Apr. Chicago City Gate 5.06 -0.02 5.30 New York City Gate 5.60 +0.14 5.64...

El Paso, CMS end horrible year with plans for more asset sales.
April 7, 2003... Last year was a rough one for energy merchants as the collapse of the sector forced many one-time Wall Street favorites to sell billions of dollars in assets and restructure their finances to keep from falling into further financial trouble....

Spot prices on intrastate pipeline systems.
April 7, 2003... SPOT PRICES ON INTRASTATE PIPELINE SYSTEMS Delivered-to-Pipeline ($/MMBtu) April 7, 2003 This Weekly Bid Week Pipeline Week Change for Apr. ...

Dynegy sells US fiber business, signaling end of bandwidth era.
April 7, 2003... Among its energy merchant rivals, Dynegy held out hope the longest for a turnaround in the US telecommunications business. But in the end, the fate of Dynegy Global Communications was the same as telecom ventures started by Aquila, El Paso,...

Salt cavern storage.
April 7, 2003... SALT CAVERN STORAGE (Billion Cubic Feet) Mar 28 MMcfd MMcfd Bcf Bcf Facility State Max Max ...

FERC lets utilities join RTO, setting up state/federal fight.
April 7, 2003... Federal regulators moved last week to allow American Electric Power (AEP) and two other electric utilities to join the PJM Interconnection, setting the stage for a sharp federal-state jurisdictional fight with Virginia. The Federal Energy...

Outlook for higher gas prices boosts coal industry optimism.
April 7, 2003... Coal producers have had a rough couple of years due to a sluggish economy and relatively mild weather, but this past winter's jump in natural gas prices gives them optimism that their days will improve very soon. Companies presenting at...

2003 gas price outlook.
April 7, 2003... 2003 GAS PRICE OUTLOOK April 7, 2003/Week 14 12-Month Strip Wellhead Delivered-to-Pipeline Nymex $5.27 $5.41 $5.008 NOTES: (1) Prices are in $/MMBtu and are for...

Wall street not impressed with E&P success. (E&P Update).
April 7, 2003... Despite an upbeat outlook for the exploration and production (E&P) sector, the question institutional investors can't answer is why independents' share prices remain so low compared to historical ranges and price-earnings multiples. ...

Wisconsin coal plants face opposition. (Current).
April 7, 2003... A Wisconsin energy company facing opposition to a plan to build three new coal-fired electric plants highlights the increasingly perilous business environment some utilities must navigate, requiring them to balance environmental demands with...

Study: electric competition stalls. (Current).
April 7, 2003... The California electricity crisis of 2000-01, Enron's collapse, and the credit crisis in the energy industry have all but halted progress on electricity competition in the US, according to the latest Electricity Retail Energy Deregulation (RED)...

NYISO upgrades for SMD standard. (Current).
April 7, 2003... RALEIGH, North Carolina, and GUTLDERLAND, New York -- Technology and automation company ABB said last week that it was awarded a contract with the New York Independent System Operator (NYISO) to install its Supervisory Control and Data...

Indian group plans pacific NW plant. (Current).
April 7, 2003... SAN FRANCISCO -- Indigenous Global Development announced last week that it is negotiating to finance, develop, and build a 500-MW combined-cycle electric power plant in Washington state. The plant will be fueled by natural gas supplied...

PugetSound eyes renewables. (Current).
April 7, 2003... BELLEVUE, Washington -- Puget Sound Energy (PSE) last week released a draft "least-cost" plan detailing its strategy for a balanced portfolio featuring energy efficiency, renewable resources, and thermal power generation. The utility recently...

Comparative fuel prices.
April 7, 2003... COMPARATIVE FUEL PRICES (Cash Market) April 7, 2003 EAST COAST Natural Gas Natural Gas New York Harbor: Texas New York ...

Natural gas futures and spot electricity trading.
April 7, 2003... NATURAL GAS FUTURES AND SPOT ELECTRICITY TRADING Trading Dates: Mar. 31-Apr. 4, 2003 New York Mercantile Exchange (NYMEX) (Henry Hub) Monday Tuesday Wednesday Thursday Last/Volume...

Calpine starts Calgary gas plant. (Current).
April 7, 2003... CALGARY -- The Calpine Power Income Fund announced that the Calgary Energy Centre entered commercial operations last Monday. Fueled by natural gas, the Calgary Centre interconnects directly to the Alberta Interconnected Electric System and...

Mass. Electric seeks rate hike. (Current).
April 7, 2003... NORTHBOROUGH, Massachusetts -- Massachusetts Electric last week requested an increase in its standard offer supply rate to about 5.6cents/kWh from 4.7cents/kWh, citing increased fuel prices. Other components of customers' bills -- including...

Cash market hub trading.
April 7, 2003... CASH MARKET HUB TRADING ($/MMBtu) Henry Hub, La. Jan. Feb. March April May June July 1995 1.48 1.54 1.52 1.59 1.64 1.65 1.44 1996 ...

Natural gas rig count.
April 7, 2003... NATURAL GAS RIG COUNT Jan. Feb. March April May June July August Sept. 2000 Total 774 763 773 805 844 878 942 987 1011 Gas 631 616 599 609 644 677 733 779 ...

Sempra, PG&E hold open season to move proposed Mexican LNG. (Regional Market Roundup).
April 7, 2003... Sempra Energy International and PG&E Gas Transmission (PG&E GT) launched an open season last week seeking shipper interest in an expansion of their North Baja pipeline system that runs through the US Southwest and Baja California, Mexico. The...

Spot prices on interstate pipeline systems.
April 7, 2003... SPORT PRICES ON INTERSTATE PIPELINE SYSTEMS Delivered-to-Pipeline ($/MMBtu) April 7, 2003 This Weekly Bid Week Bid Week Pipeline Week Change for Apr....

Suncor announces C$3 billion expansion to oil sands projects. (Canadian Markets).
April 7, 2003... Suncor Energy last week announced a C$3 billion (US$2 billion) expansion of its oil sands operation to boost synthetic crude output by nearly 50% by 2007. The announcement underlines the growing concern that Canadian natural gas exports will be...

Rig count. (Canadian Markets).
April 7, 2003... There were 285 rigs drilling for natural gas and oil in Western Canada as of Apr. 1, a decrease of 120 from a week ago, according to the Canadian Association of Oilwell Drilling Contractors (CAODC). During the same period a year ago, CAODC...

Canadian Enerdata. (Canadian Markets).
April 7, 2003... Working gas in all Canadian storage facilities increased to 17.1% of capacity as of Mar. 28, up from 16.1% the week before, according to the most recent Canadian Enerdata gas storage survey. Canadian storage facilities were 48.9% full a...

The composite spot import price. (Canadian Markets).
April 7, 2003... The composite spot import price this week is US$4.67/MMbtu for gas leaving Canada and entering the US through six border crossing points. Natural Gas Week's Apr. 2, 2002, average for Canadian exports was US$3.32/MMBtu. Canada's average...

Canadian price report.
April 7, 2003... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA ALBERTA Huntingdon/ Kingsgate/ Total ...

City gate prices.
April 7, 2003... CITY GATE PRICES April 7, 2003 ($/MMBtu) Bid Week Bid Week City for Apr. for Mar. Austin, Texas Valero Transmission Co. 4.81 ...

Gas Price trends.
April 7, 2003... GAS PRICE TRENDS ($/MMBtu) CALFORNIA ROCKY NEW MTNS MEXICO ...

Gas prices spur E&P action; more drilling expected in 2003.
April 7, 2003... While no one expects a dramatic turnaround ahead in declining US gas deliverability, the exploration and production (E&P) sector is finally showing some signs of life following the recent surge in winter gas prices. Producers' response has...

Wellhead price.
April 7, 2003... The Natural Gas Week composite spot wellhead price this week is $4.67/MMBtu, 10 cents less than last week and $1.34 more than the Apr. 8, 2002, average. The spot delivered-to-pipeline price this week is $4.77/MMBtu, 10 cents less than last week...

Gas price report.
April 7, 2003... GAS PRICE REPORT ($/MMBtu--Spot) April 7, 2003 Interstate Intrastate Wellhead Wellhead Bid ...

New drilling platform. (Late News).
April 14, 2003... US Department of Energy officials Friday reported on first attempt in US to tap methane hydrates using new type of onshore drilling platform (NGW Feb. 3, pl) that reduces impact on fragile ecosystems. Anadarko's Arctic Platform,...

Moving on. (Late News).
April 14, 2003... Jerald V. Halvorsen, Interstate Natural Gas Association of America (INGAA) president, announced his retirement last week effective Aug. 1. Halvorsen served as INGAA president since 1987. INGAA executive vice president Don Santa, former FERO...

In hot water. (Late News).
April 14, 2003... Illinois' most powerful solar energy system will be dedicated Apr. 23 to celebrate Earth Day. New system, which produces more energy than any other solar system in state, is installed at "World's Largest Laundromat and Dry Cleaners" and saves...

Major oils make marketer gains but most firms are pulling out. (NGW's Final Rankings).
April 14, 2003... Are the days of bragawatts and imaginary molecules over? That is hard to tell for sure, but the ranks of North America's largest natural gas and power marketers for 2002 are showing the effects of a sector still in transition from the days when...

Late winter chill in Northeast revives gas market bullishness. (NGW's Final Rankings).
April 14, 2003... With above-normal temperatures predicted for the eastern US this week, this memorable winter may finally be in the rear-view mirror of the gas industry. But last week's unexpectedly chilly conditions in the Northeast and along the East Coast...

Canadian energy exports to US may slow as capacity tightens. (NGW's Final Rankings).
April 14, 2003... After a decade of booming growth in Canadian energy exports to the US, the era of sending additional oil and gas supplies south could be coming to an end. In a study released last week, the Toronto-based C.D. Howe Institute said the energy...

FERC advances 3 LNG projects; Coast Guard tackles Pelican EIS.
April 14, 2003... Federal regulators moved forward last week on three liquefied natural gas (LNG) projects as part of their increasing commitment to LNG as a new source of supply to meet increasing US natural gas demand. The Federal Energy Regulatory...

Momentum building in Russia for LNG terminal to supply US.
April 14, 2003... Russia's ice-free port of Murmansk is emerging as the favored location for a future liquefied natural gas (LNG) export terminal to be built specifically for supplying the growing US demand for natural gas. Two competing proposals have...

Correction.
April 14, 2003... An article published in Natural Gas Week's Jan. 13 edition stated that due to problems with data collection at the Minerals Management Service (MMS), HIS Energy, owner of the PI/Dwights database, had neither gas production data nor well log...

TVA nuke leak a false alarm.
April 14, 2003... TVA investigated the possible leak at the 1,148-MW nuclear facility after boric acid crystals were found on top of the unit's reactor vessel head during a planned refueling and maintenance outage on Mar. 27 (NGW, Mar. 31, p4). But as it turned...

El Paso shores up its board ahead of company proxy fight.
April 14, 2003... El Paso's current board and management aren't going to give in to a group of dissident shareholders headed by Selim K. Zilkha and Oscar S. Wyatt without putting up an aggressive fight. The company last week named its fourth new director...

Report: CBM drilling no threat to Colorado region's water.
April 14, 2003... Gunnison Energy's fight to drill for coalbed methane (CBM) gas in western Colorado's North Fork Valley region was bolstered by a new report detailing the impact of drilling -- or lack thereof -- on the local water supply. The 73-page...

Major Market Prices.
April 14, 2003... MAJOR MARKET PRICES April 14, 2003 ($/MMBtu) This Weekly Bid Week Week Change for Apr. Chicago City Gate 5.27 +0.21 5.30 New York City Gate 6.16 ...

Anadarko plans on big returns from aggressive '03 drilling.
April 14, 2003... Anadarko is trying to do its part to reverse the recent decline in North American natural gas production. The Houston-based super-independent is on track to increase gas production this year and next, after watching its production volumes...

Spot Prices On Intrastate Pipeline Systems.
April 14, 2003... SPOT PRICES ON INTRASTATE PIPELINE SYSTEMS Delivered-to-Pipeline ($/MMBtu) April 14, 2003 This Weekly Bid Week Pipeline Week Change for Apr. ...

Duke Energy, Tractebel to exit speculative Energy trading.
April 14, 2003... Duke Energy announced last Friday that its merchant businesses would halt proprietary, or speculative, trading to reduce the company's risk profile and collateral needs, joining Tractebel, who announced a similar move earlier last week. ...

House passes energy legislation as Senate begins their debate.
April 14, 2003... Both houses of Congress last week continued work on a comprehensive energy bill, with the Senate Energy and Natural Resources Committee beginning the markup of their legislation and the House of Representatives beginning floor debate on their...

2003 Gas Price Outlook.
April 14, 2003... 2003 GAS PRICE OUTLOOK April 14, 2003/Week 15 12-Month Strip Wellhead Delivered-to-Pipeline Nymex $5.58 $5.73 $5.433 NOTES: (1)Prices ore in $/MMBtu and...

Long Island may come up short from anti-infrastructure bill.
April 14, 2003... Long Island, New York -- one of the fastest growing areas for peak electricity demand--could be vulnerable to an energy crunch this summer if the state of Connecticut has its way. A bill that would extend the current moratorium on energy...

Salt Cavern Storage.
April 14, 2003... SALT CAVERN STORAGE (Billion Cubic Feet) Apr 4 MMcfd MMcfd Bcf Bcf Facility State Max Max ...

Murkowski signs legislation to spur pipeline development.
April 14, 2003... Alaska Gov. Frank Murkowski signed into law last week a bill authorizing the state to negotiate for a 2,100-mile natural gas pipeline from the North Slope estimated to cost up to $20 billion. The bill makes several changes to state law...

New lawsuit clouds Allegheny outlook. (Current).
April 14, 2003... Courts across the US continue to see new complaints filed over alleged industry malfeasance from accounting irregularities due to wash trades. Allegheny Energy and Wall Street firm Merrill Lynch are the subject of a recent complaint for...

High gas prices threaten plants. (Current).
April 14, 2003... High natural gas prices combined with low electricity prices are forcing PPL energy marketing subsidiary EnergyPlus to seek cost-based rates for some peaking power plants--or face deactivating them for up to four years. In January, PPL...

Comparative Fuel Prices.
April 14, 2003... COMPARATIVE FUEL PRICES (Cash Market) April 14, 2003 EAST COAST New York Harbor Natural Gas Natural Gas ...

Green Mountain buys wind power. (Current).
April 14, 2003... SYRACUSE, New York -- Green Mountain Energy said last Thursday that it agreed to buy electricity from PG&E National Energy Group's Madison wind farm in upstate New York through 2004. The company said it was buying the power to supply renewable...

Hydro One picks Parkinson. (Current).
April 14, 2003... TORONTO -- Hydro One, which distributes nearly 90% of Ontario's electricity, appointed Tom Parkinson as chief executive last Wednesday. Parkinson became Hydro One's chief operating officer and president in July 2002. He joined the...

Mirant, Nevada sign contracts. (Current).
April 14, 2003... ATLANTA and LAS VEGAS -- The Public Utilities Commission of Nevada approved three long-term power contracts between Mirant and Nevada Power, Mirant said last week. Under the contracts, which were signed in January and extend until April 2008,...

FPL gets new plant approval. (Current).
April 14, 2003... JUNO BEACH, Florida -- Florida Power & Light (FPL) said last week that Coy. Jeb Bush and his cabinet approved expansion proposals for the company's Manatee and Martin power plants. FPL said construction on the plants will begin this summer and...

Xcel settles Colorado rate case. (Current).
April 14, 2003... DENVER -- Xcel Energy said it has reached a settlement on all issues raised in its 2002 rate case filing in Colorado. On Apr. 4, the utility announced that after taking all aspects of the rate structure into account, electricity base rates will...

Natural Gas Futures And Spot Electricity Trading.
April 14, 2003... NATURAL GAS FUTURES AND SPOT ELECTRICITY TRADING Trading Dates: Apr. 7-Apr. 11, 2003 New York Mercantile Exchange (NYMEX) (Henry Hub) Monday Tuesday Wednesday Thursday Last/Volume...

Cash Market Hub Trading.
April 14, 2003... CASH MARKET HUB TRADING ($/MMBtu) Henry Hub, La. Jan. Feb. March April May June July August Sept. Oct. 1995 1.48 1.54 1.52 1.59 1.64 1.65 1.44 1.56 1.63 1.76 1996 2.92 4.41 3.00 2.71...

Natural Gas Rig Count.
April 14, 2003... NATURAL GAS RIG COUNT Jan. Feb. March April May June July August Sept. 2000 Total 774 763 773 805 844 878 942 987 1011 Gas 631 616 599 609 644 677 733 779 810 %...

FERC approves Greenbrier pipe under new NEPA pre-filing rules. (Regional Market Roundup).
April 14, 2003... The Greenbrier Pipeline project recieved the final go-ahead from the Federal Energy Regulatory Commission (FERC) last week. Greenbrier, a project of Charlotte, North Carolina-based Piedmont Natural Gas and Richmond, Virginia-based Dominion...

Lousiana. (Regional Market Roundup).
April 14, 2003... Discovery Gas Transmission last week began an open season for its 30-inch, 150-mile gas transmission pipeline operated by Williams on- and offshore Louisiana. The open season is for shippers interested in additional market outlet connections...

Alabama. (Regional Market Roundup).
April 14, 2003... Houston-based Falcon Gas Storage last week began an open season for capacity at its new high-deliverability, multi-cycle natural gas MoBay Storage Hub. The facility is located west of Mobile Bay, Alabama, and within a mile and a half of several...

Oklahoma. (Regional Market Roundup).
April 14, 2003... Dallas-based Puma Energy said last week that it signed an "agreement on basic principles" with DFC, another Dallas-based company, for the development of the Jumbo prospect located in Pushmataha County, Oklahoma -- near the town of Antlers,...

Spot Prices On Interstate Pipeline Systems--Part 1.
April 14, 2003... SPOT PRICES ON INTERSTATE PIPELINE SYSTEMS Delivered-to-Pipeline ($/MMBtu) April 14, 2003 PART 1 This Weekly Bid Week Bid Week Pipeline Week Change...

Canada ready to supply US gas but warns against subsidies. (Canadian Markets).
April 14, 2003... Canadian officials sought to assure US energy investors last week its Arctic was ripe for investment despite delays in building a C$4 billion (US$3 billion) gas pipeline and squabbling with Washington over subsidies for a competing pipeline...

Canadian Price Report.
April 14, 2003... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas...

XTO buys Williams gas assets.
April 14, 2003... Natural gas producer XTO Energy has agreed to acquire natural gas and coalbed methane (CBM) producing properties located in Colorado, Kansas, and New Mexico from Williams for $400 million. Fort Worth, Texas-based XTO's internal estimates...

Gas Price Trends.
April 14, 2003... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO South North April 2002...