Natural Gas Week articles from April 2005

Natural Gas Week archives from April 2005

Natural gas weekly spot prices.
April 4, 2005... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 3/29-4/4 Avg. Avg. Apr. Price Daily Daily Bid Point $/MMBtu Chg....

Investors clamor for stake in bull run in stocks, commodities.
April 4, 2005... If energy markets were already a paradise for speculators thriving on volatility, it only got sweeter last week after PIRA Energy Group raised the specter of $8.70/MMBtu July gas followed by a broadside from Goldman Sachs suggesting a coming...

El Paso to expand LNG activity, eyes investments in US, Mexico.
April 4, 2005... El Paso is considering several opportunities to expand its presence in the LNG sector through investments in several proposed LNG projects, a senior El Paso executive said last week. The company is talking with the sponsors of Freedom LNG...

Markets poised to continue rally this week riding bullish wave.
April 4, 2005... Ask market players what to expect this week and the consensus is clear: most lean toward gas prices continuing to advance--big time. [GRAPHIC OMITTED] Not only have gas futures prices rallied for two consecutive weeks following a...

Virginia fight brings coastal drilling moratorium to front.
April 4, 2005... Efforts in Virginia to prompt the Governor's Liaison Office to lobby congressional delegations and federal agencies to remove the long-standing moratorium on offshore natural gas drilling failed when Gov. Mark Warner vetoed the legislation at...

Open season started.(Late news)
April 4, 2005... Open season started: Cheniere Creole Trail Pipeline, a subsidiary of Cheniere Energy, has started an open season through Jun. 1 for the marketing of natural gas pipeline capacity to interconnect its planned LNG terminals in Cameron Parish,...

Property acquired.(Late news)
April 4, 2005... Property acquired: XTO Energy has acquired oil and natural gas properties in East Texas and North Louisiana from Plains Exploration & Production in deal valued at $350 million. XTO Energy said the proved reserves are about 175 Bcfe, of which...

Gas fields to be developed.(Late news)
April 4, 2005... Gas fields to be developed: The Canadian energy company Winslow has entered into a farm-out agreement with a major developer that covers 44 sections of land to explore for shallow gas in west-central Saskatchewan. Winslow has agreed to drill 12...

NGW's monthly weighted averages.
April 4, 2005... NGW'S MONTHLY WEIGHTED AVERAGES $/MMBtu Price Point Mar'05 Feb'05 Jan'05 Dec'04 Nov'04 Oct'04 Gulf Coast ANR SE 6.82 5.99 6.09 6.45 5.61 6.08 Col. Gulf--Erath 6.87 6.04 ...

Lake Charles send out plunges; BP loses Delaware bid for pier.
April 4, 2005... LNG buyers in Europe absorbed almost all the March spot cargoes available in the Atlantic Basin, completely depriving the US receiving terminal at Lake Charles, Louisiana, of supplies during the month. The facility's send-out plunged to a...

Intrastate weekly spot prices.
April 4, 2005... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 3/29-4/4 Avg. Avg. Apr. Price Daily Daily Bid Point $/MMBtu Chg. High...

EIA to publish new survey in May; next Western Gulf Lease Sale set.
April 4, 2005... The Energy Information Administration announced last week that it will publish the first natural gas production estimates from a new survey of 280 US producers in May. The survey will represent about 90% of the US gas producers, said John...

Prices and differentials for major hubs and selected city gates.
April 4, 2005... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES April 4, 2005 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 3/28 3/29 3/30 3/31 4/1 HH-NY ...

Questar ponders upstream play options beyond Pinedale Anticline.
April 4, 2005... Questar, an integrated gas company based in Salt Lake City, has only recently started to pluck the fruits of its plum acreage in Wyoming's Pinedale Anticline, but already it is scoping out new opportunities to sustain production growth well...

Composite spot wellhead price.
April 4, 2005... COMPOSITE SPOT WELLHEAD PRICE January 2001 to Present ($/MMBtu) Year Jan. Feb. March April May June July August Sept. Oct. 2005 6.05 5.99 6.77 2004 5.90 4.79 5.28 5.62 6.17 6.11 5.82 5.37 4.84 5.97...

Composite spot delivered-to-pipeline price.
April 4, 2005... COMPOSITE SPOT DELIVERED-TO-PIPELINE PRICE January 2001 to Present ($/MMBtu) Year Jan. Feb. March April May June July August Sept. Oct. 2005 6.94 6.17 6.98 2004 6.30 4.82 5.32 5.65 6.20 6.12 5.86 5.43 ...

Long-time explorer Bill Barrett at home in Rocky Mountain region.
April 4, 2005... With many large independents expanding their exploration programs in the US Rocky Mountain region, joining the smaller independents who built the play into a gas-producing powerhouse, it's become quite costly to acquire acreage in the gas-rich...

Natural gas futures.
April 4, 2005... NATURAL GAS FUTURES Trading Dates: March 28-April 1, 2005 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Thursday Last Volume Last Volume Last...

Infinity finds Fort Worth Basin hot prospect, Wyoming spotty.
April 4, 2005... The Fort Worth Basin continues to be a hot property for Denver-based Infinity, an independent oil and gas producer. Infinity's President and Chief Executive Stanton E. Ross said its Texas division, Infinity-Texas, has drilled, fractured and...

North American weekly gas storage.
April 4, 2005... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Mar. 25 Mar. 18 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 548 ...

Natural gas bidweek prices.
April 4, 2005... NATURAL GAS BIDWEEK PRICES Flow Dates: (Vol./d) Apr. Chg. Prev. Price Avg. from Bid- Point $/MMBtu Prev. High Low...

Citygate prices.
April 4, 2005... CITYGATE PRICES (Vol./d) Apr. Chg. Prev. Price Avg. from Bid- Point $/MMBtu Prev. High Low Vol. Deals Week ...

Study: hydrates in Gulf may be far smaller than first thought.
April 4, 2005... How much methane hydrates are in the Gulf of Mexico is anyone's guess. But it could be less than what many are counting on, according to a new report issued by a group of researchers who published their findings in the Mar. 15 issue of...

EPA rules turn sulfur dioxide auction bullish.(CURRENT)
April 4, 2005... The Environmental Protection Agency's 13th annual sulfur dioxide (S[O.sub.2]) allowance auction that was was a big hit this year, unlike the 2004 auction stifled by regulatory uncertainty. Bids for S[O.sub.2] allowances almost doubled this...

Low hydro could spell higher gas use.(CURRENT)
April 4, 2005... A key culprit in the 2000-01 energy crisis may be back on the prowl as California and the Pacific Northwest again face the prospect of extremely poor hydro conditions. Washington state expects to have one of its driest summers on record,...

Clean-coal projects advance, still face deep challenges.(CURRENT)
April 4, 2005... Two major companies aiming to commercialize integrated gasification combined-cycle (IGCC) technology--GE Energy and Bechtel Power--signed a major letter of intent last week with the nation's largest power generator to perform a scoping study...

Compromise sought in Texas LMP debate.(CURRENT)
April 4, 2005... Calpine offered to play the diplomat last week at an informal meeting in Houston between supporters and opponents of revamping Texas' market design from zonal to locational marginal pricing (LMP) (NGW Sep.27,'04,p8). Calpine supports LMP...

Landfill power sees new developments.(CURRENT)
April 4, 2005... Converting decomposing waste in landfills into methane gas to fuel power plants continues to see growth in various parts of the US. One of the pioneers, Waste Management, announced last week it wants to start building a 3.2-MW landfill...

Spot electricity trading.(CURRENT)
April 4, 2005... SPOT ELECTRICITY TRADING Trading Dates: March 28-April 1, 2005 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT Week...

Comparative fuel prices.(CURRENT)
April 4, 2005... COMPARATIVE FUEL PRICES (Cash Market) April 4, 2005 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $58.50/ton $7.66/MMBtu $2.44/MMBtu EAST COAST...

Harken Energy to explore Ohio prospect for coalbed methane.(Regional Market Roundup)
April 4, 2005... Dallas-based Harken Energy said last week that one of its affiliates has entered into an agreement with Ohio Cumberland LP to explore for coalbed methane on 400,000 acres in Ohio. Gulf Energy Management signed the exploration and production...

Baker Hughes rig count.(Regional Market Roundup)
April 4, 2005... BAKER HUGHES RIG COUNT Week Ended Apr. 1 Rotary Rigs Current Previous Year Week Week Ago Total US 1,329 1,331 1,160 Land ...

Gas price trends.(Regional Market Roundup)
April 4, 2005... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO TEXAS Gulf Coast Gulf Coast South...

Canada struggles to implement Kyoto, government threatened.(Canadian Markets)
April 4, 2005... Canada's commitment to the Kyoto Greenhouse Gas Treaty, which went into effect worldwide in mid-February, is becoming a political hot potato that threatens to bring down the government--something that would automatically result in a federal...

Mexico preparing LNG agenda to include up to seven terminals.(World Roundup)
April 4, 2005... Mexico's Comision Federal de Electricidad is preparing to issue several gas purchase and LNG terminal construction tenders in the near future, as the country's state electricity generator and its energy regulator together pursue an ambitious...

Repsol may site Venezuelan LNG terminal.(World Roundup)
April 4, 2005... Spain's Repsol YPF will explore the possibility of building a separate LNG plant on Venezuela's coast--as well as entering that country's flagship Mariscal Sucre export project--as part of an agreement with state Petroleos de Venezuela (PDV)....

Petro-Canada, Gazprom talks progress.(World Roundup)
April 4, 2005... Petro-Canada reports talks with Russian gas giant Gazprom on exporting liquefied natural gas to North America are proceeding smoothly and could lead to firmer arrangements between the two companies in a matter of months. "We're making very...

Canadian price report.(World Roundup)
April 4, 2005... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas Eastport...

Excelerate's terminal receives first offshore delivery of LNG.
April 4, 2005... Excelerate Energy's Gulf Gateway LNG receiving terminal is not only the first to come on stream in the US in almost a quarter-century, it is the world's first offshore LNG delivery site. The specially modified LNG tanker Excelsior arrived...

Gas price report.
April 4, 2005... GAS PRICE REPORT ($/MMBtu--Spot) April 4, 2005 Interstate Intrastate Delivered Delivered Wellhead Wellhead To Pipeline To Utility Bid ...

Natural gas weekly spot prices.
April 11, 2005... NATURAL GAS WEEKLY SPOT PRICES Flow Dates:4/5-4/11 Avg. Avg. Apr. Price Daily Daily Bid Point $/MMBtu Chg....

'Active' hurricane season ahead may add fuel to market jitters.
April 11, 2005... As if recently soaring crude oil and gas prices, bullish price projections, and a significant increase in speculative market influences were not enough for most gas traders to contend with--now approaches the 2005 hurricane season. Because of...

Wood steps down as FERC head, Kelliher said likely successor.
April 11, 2005... Pat Wood III, chairman of the Federal Energy Regulatory Commission, announced last week he will step down and head home to Texas when his four-year term ends in June. It is likely one of the two remaining Republican FERC commissioners will...

Markets slide as technicals take breather, fundamentals weaken.
April 11, 2005... Natural gas and crude futures took an early run at new heights last week, but trading quickly turned south as the market sought a new bottom. [GRAPHIC OMITTED] It was quite a reversal for a week that saw crude hit a record $58.28/bbl...

WoodMac: ultra-deep shelf Gulf gas play potentially world-class.
April 11, 2005... The Gulf of Mexico's ultra-deep shelf gas play has world-class potential in terms of prospect sizes and profitability, but it is still in the very early phases of being tested, research and consulting firm Wood Mackenzie concludes in an...

Moratorium upheld.(Late news ...)
April 11, 2005... Moratorium upheld: Efforts to override Virginia Gov. Mark R. Warner's veto of a bill seeking to end the federal moratorium on offshore oil and gas drilling exploration failed in a 16-20 vote in the state Senate. Sen. Frank W. Wagner,...

CLNG director dies.(Late news ...)
April 11, 2005... CLNG director dies: The Center for Liquefied Natural Gas has reported that Executive Director Dick Sharples has died from cancer. A 30-year veteran of the energy industry, Sharples was a former chairman of both the National Gas Council and the...

Forecast made.(Late news ...)
April 11, 2005... Forecast made: R. W. Beck, Inc. issued its second quarter 2005 update to its natural gas price forecast on Friday. The updated forecast's annual average price at Henry Hub for 2005 is $6.40/MMBtu--an increase of about 13% over the firm's first...

Wells planned.(Late news ...)
April 11, 2005... Wells planned: The EnCana Corp. said Friday it intends to drill up to 450 oil and gas wells in western Colorado's Piceance Basin. EnCana's plans helped drive a 31% first-quarter increase in drilling permits for the state of Colorado and a 36%...

Fleet acquired.(Late news ...)
April 11, 2005... Fleet acquired: Houston-based Cal Dive International has entered into a purchase agreement with New Orleans-based Torch Offshore to buy the Louisiana-based fleet of offshore service support vessels for $92 million, including a $4.6 million...

Two voices: local move against 'vital' Sempra Energy terminal.
April 11, 2005... Even as a member of the Mexican government was promoting LNG imports as vital to his nation's energy future, a lawmaker from Baja California was trying to stop development of Sempra Energy's $800 million LNG receiving terminal. Guillermo...

Intrastate weekly spot prices.
April 11, 2005... INTRASTATE WEEKLY SPOT PRICES Flow Dates:4/5-4/11 Avg. Avg. Apr. Price Daily Daily Bid Point $/MMBtu Chg. High Low...

Prices and differentials for major hubs and selected city gates.
April 11, 2005... April 11, 2005 US$/MMBtu, Volume-Weighted [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 4/4 4/5 4/6 4/7 4/8 HH-NY +0.62 +0.52 +0.61 +0.58 +0.54 HH-Chicago -0.17 -0.20...

Natural gas alternatives being found for oil sands development.
April 11, 2005... While oil sands producers are encouraged by high crude oil prices, which makes extraction of useable crude from the thick oil sands much more economically feasible, they are also keeping a sharp eye on the rising price of natural gas, which is...

US independent E&P portfolios getting far more unconventional.
April 11, 2005... The oil and gas industry has been described in a number of ways, but unconventional has seldom been among the terms applied. Yet, a good number of the exploration and production companies presenting at last week's Howard Weil Energy...

North American weekly gas storage.
April 11, 2005... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Apr. 1 Mar. 25 Weekly Year Yr. Ago 5-year Region Week Week Change Ago Change Average US East 546...

AGA: gas reserves hit 190 Tcf, but producers on 'treadmill'.
April 11, 2005... US gas reserves hit an 18-year high in 2004 according to a new report from the Washington, D.C.-based American Gas Association. The year also saw a record number of gas wells drilled and completed. In its preliminary report for 2004, the...

Natural gas futures.
April 11, 2005... NATURAL GAS FUTURES Trading Dates: April 4 - April 8, 2005 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume...

Excelerate Energy celebrates commissioning of LNG terminal.
April 11, 2005... Officials with The Woodlands, Texas-based Excelerate Energy announced last week the successful commissioning of its Gulf Gateway Energy Bridge Deepwater Port in the Gulf of Mexico--the world's first offshore LNG receiving facility and the first...

Japan could lead way to mining hydrates by end of next decade.
April 11, 2005... Commercial mining of methane hydrates could come as early as 2018, with Japan probably leading the way. Kirk Osadetz, manager of the Gas Hydrates program for Canada's Natural Resources Ministry, said he based his forecast on the fact that...

Pipeline capacity utilization.
April 11, 2005... PIPELINE CAPACITY UTILIZATION Pipeline Point Name Capacity Mar-05 Feb-05 Colorado Interstate Cheyenne 590,000 76% 87% Gas Columbia Gas Leach 2,218,000...

Construction resumes on incomplete gas plants.(CURRENT)
April 11, 2005... Despite higher natural gas prices and future supply concerns, natural gas combined-cycle (NGCC) plants aren't endangered, but they likely won't see the same growth spurt as they have in recent years any time soon. The massive wave of newly...

Proposal gives gasification subsidies.(CURRENT)
April 11, 2005... Proposed congressional legislation is seeking to relieve the US industrial and power generation sectors that are hogtied by high natural gas prices by ensuring future supply using coal and biomass gasification. US Sens. Lamar Alexander...

Western governors ink massive transmission project agreement.(CURRENT)
April 11, 2005... The governors of California, Nevada, Utah and Wyoming formally agreed last week to build a new transmission line across the western US. California must add 1,000 MW of new capacity yearly, net of retirements, just to meet growing demand....

FPL building wind farm in west Texas.(CURRENT)
April 11, 2005... FPL Energy said last week it is building its second wind farm, a 220.5-MW facility called Horse Hollow, near Abilene, Texas. Construction is expected to start this month and finish by year-end. FPL Energy's 114-MW Callahan Divide project...

Spot electricity trading.(CURRENT)
April 11, 2005... SPOT ELECTRICITY TRADING Trading Dates: April 4-April 8, 2005 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

CenterPoint Energy sells Texas nuke.(CURRENT)
April 11, 2005... The Nuclear Regulatory Commission has approved the sale of shares in the 2,500-MW South Texas nuclear plant, as part of CenterPoint Energy's sale of generation assets to Texas Genco. Texas Genco is a group of private equity investors,...

Comparative fuel prices.(CURRENT)
April 11, 2005... COMPARATIVE FUEL PRICES (Cash Market) April 11, 2005 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $58.00/ton $7.91/MMBtu $2.42/MMBtu EAST COAST New...

ChevronTexaco buys out Unocal, first such merger in many years.(Regional Market Roundup)
April 11, 2005... The nation's second largest oil company, ChevronTexaco, announced last week that it is buying Unocal, the ninth largest oil and gas producer in the US, for about $16.8 billion in cash and stock. As part of the deal, Chevron will assume $1.6...

Baker hughes rig count.(Regional Market Roundup)
April 11, 2005... [GRAPHIC OMITTED] BAKER HUGHES RIG COUNT Week Ended Apr. 8 Rotary Rigs Current Previous Year Week Week Ago Total US 1,327 1,329 1,138...

Gas price trends.(Regional Market Roundup)
April 11, 2005... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO South North Apr 11, 2005 Inter (well) - - 6.48 6.35 Intra...

ChevronTexaco to sell Unocal's Northrock assets after merger.(Canadian Markets)
April 11, 2005... The prospect of ChevronTexaco spinning off some of its attractive Canadian oil and gas assets in the wake of its acquisition of fellow California-based Unocal for $16.8 billion has not gone unnoticed among Canada's energy trusts, who have been...

Apache hits two Egyptian finds, bolsters reserves by Qasr field.(World Roundup)
April 11, 2005... Apache Corp. said last it has made two new gas discoveries in Egypt, including one that could hold some 500 Bcf of reserves. The Syrah 1X well on the company's Khalda concession was drilled to a total depth of 14,445 feet. It logged 266 feet of...

Gazprom edges closer to US LNG trade.(World Roundup)
April 11, 2005... Persistent market rumors that Russia's Gazprom has obtained LNG cargoes and is seeking to place them in North American markets look to be premature--but perhaps not by much. Gazprom itself confirmed last week that it is still hoping to...

Australia's Gorgon project gets backing.(World Roundup)
April 11, 2005... ChevronTexaco, Exxon Mobil, and Royal Dutch/Shell have agreed to combine the massive gas reserves of the Greater Gorgon Area off the West Coast of Australia into a single LNG project. Chevron will hold a 50% operating stake in the planned...

Canadian price report.(World Roundup)
April 11, 2005... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas ...

Slow down: growing market for LNG could hold substantial risk.(World Roundup)
April 11, 2005... It is nothing short of amazing how quickly LNG has come to be seen as our salvation. Even a few years ago, mothballed terminals in the Gulf and Southeast seemed little more than relics of an ill-conceived scheme. Now, companies jostle for...

Natural gas weekly spot prices.
April 18, 2005... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 4/12-4/18 Avg. Avg. Apr. Price Daily Daily Bid Point $/MMBtu Chg....

Early contango: seasonal gift driving record storage build.
April 18, 2005... The recent contango in gas futures has been nothing short of manna from heaven for storage players and an almost certain ticket to another weld-busting injection season. "We've never seen these kinds of spreads so early in the year, and...

Gasification policy, not IGCC value itself, divides industry.
April 18, 2005... Talk to any major corporation today and you will hear a litany of concerns about high natural gas prices, dwindling supplies, growing reliance on energy imports and increasing energy demand. But a resolution could be dawning, a growing...

Energy prices seeking bottom as markets enter shoulder months.
April 18, 2005... As they say, what goes up must come down, which was certainly true last week for a natural gas market that saw a barrage of bearish fundamental and technical indicators take the steam out of the Nymex May gas futures contract. [GRAPHIC...

Fuel switching no panacea for high gas costs this time around.
April 18, 2005... As demand for gas grows and supply tightens, suggestions that large gas consumers exercise the fuel-switching option have again started making the rounds. But it's not that simple this time around, according to the Canadian Energy Research...

Wood farewell.(Late news ...)
April 18, 2005... Wood farewell: Giving his last speech as FERC chairman to the annual meeting of the US Energy Association on Friday, Pat Wood III said he had changed his mind about the need for a "data hub" to monitor natural gas prices. "The time has come,"...

Land acquired.(Late news ...)
April 18, 2005... Land acquired: Denver-based Teton Petroleum has closed on the purchase of 123,000 acres of an 180,000-acre acquisition in the Eastern Denver-Julesburg Basin. Company officials said it will purchase leases covering the remaining 57,000 acres in...