Natural Gas Week articles from April 2008

Natural Gas Week archives from April 2008

Natural gas weekly spot prices.
April 7, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 4/1/-4/7 Avg. Avg. Apr. Price Daily Daily Bid Point $/MMBtu...

Arkansas lawmakers raise natgas severance taxes in 5% compromise.
April 7, 2008... Arkansas Gov. Mike Beebe signed off on the state's first natural gas severance tax increase in more than 50 years last week, a move largely influenced by thriving by thriving production in the Fayetteville Shale formation in northern Arkansas....

Advances in horizontal drilling gave shale boost from obscurity.
April 7, 2008... Onshore shale gas plays in the US have made the trip from virtual obscurity to one of the most important domestic sources of natural gas in an astoundingly brief span of time, thanks largely to the introduction, and continual refinement, of...

Double trouble: soaring natgas leading to high electricity rates.
April 7, 2008... High flying natural gas prices are creating economic havoc for commercial electricity customers whose power contracts are up for renewal in deregulated states. And if natural gas fails to hit seasonal lows during the coming shoulder months, it...

California greens up offensive against West Coast LNG industry.
April 7, 2008... Economics and environmental politics are coming into play now more than in the past as California greens continue their offensive against the entire LNG industry on the West Coast. Even projects that meet California's strict environmental...

Panel oks bill.(Late news ...)
April 7, 2008... Panel OKs bill: A legislative committee has approved higher taxes on natural gas wells drilled along the Alabama coast. The House Government Appropriations Committee passed the administration-backed tax measure on a lopsided voice vote. The...

Rights secured.(Late news ...)
April 7, 2008... Rights secured: TXCO Resources took a step forward in its development of the Pearsall and Eagleford shales in southwest Texas on Friday, with the announcement of an agreement with Anadarko Petroleum that gives it the right to drill on 349,000...

US company moving swiftly with claims over Arctic region energy.
April 7, 2008... After a somewhat slow start, a US-based company is picking up speed in its goal to grab the Arctic Commons, which officials at Arctic Oil & Gas say could be the largest energy prize in the world. Arctic Oil & Gas Chief Executive Peter...

Prices and differentials for major hubs and selected city gates.
April 7, 2008... [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 3/31 4/1 4/2 4/3 4/4 HH-NY +0.84 +1.18 +1.07 +0.95 +0.87 HH-Chicago +0.30 +0.18 +0.13 +0.13 +0.02 AECO-CHIC +0.96 +0.90...

High court blocks LNG terminal; BP to press on with its NJ project.
April 7, 2008... British Petroleum (BP) is moving forward with plans for a New Jersey-based LNG terminal despite a Supreme Court ruling Monday upholding Delaware's rejection of the Crown Landing project, because its unloading pier for imports would extend just...

Bulls go on the defensive amid growing bearish fundamentals.
April 7, 2008... Until speculators begin to back off energy commodities as a hedge against inflation, market bears in the natural gas market may have to put up a fight to press prices lower. However, growing data supporting an ample summer supply situation...

Composite spot wellhead price.
April 7, 2008... COMPOSITE SPOT WELLHEAD PRICE January 2004 to Present ($/MMBtu) Year Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. 2008 7.83 8.30 9.03 2007 6.25 7.79 6.52 7.07 7.34 7.03 6.03 6.10 5.53 6.49 2006...

Texas open season far exceeds expectations for storage needs.
April 7, 2008... The results of an open season for capacity at its Hill-Lake and Worsham-Steed storage facilities that support production in the Barnett Shale region have a lot of people smiling at Houston-based NorTex Gas Storage. In addition to smiling, it...

Natural gas futures.
April 7, 2008... NATURAL GAS FUTURES Trading Dates: March 31 - April 4 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume...

Forest Oil touts 'transforming' shale, unconventional portfolio.
April 7, 2008... For a long time, Denver-based independent Forest Oil has remained among the rank-and-file independent producers known largely for a solid base of conventional producing properties, including numerous developments across Arkansas, Louisiana,...

North American weekly gas storage.
April 7, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Mar. 28 Mar. 21 Weekly Year Ago Yr. Ago 5-year 5-year Region Week Week Change Change Average Change US East 575 ...

Natural gas bidweek prices.
April 7, 2008... NATURAL GAS BIDWEEK PRICES Flow Dates: 4/1-4/30 April Chg. Prev. Price Avg. from Bid-Week Point $/MMBtu Prev. High...

NGW's monthly weighted averages.
April 7, 2008... NGW'S MONTHLY WEIGHTED AVERAGES $/MMBtu Price Point Mar-08 Feb-08 Jan-08 Dec-07 Nov-07 Oct-07 Gulf Coast ANR SE 9.41 8.53 7.87 7.08 7.01 6.59 Col. Gulf - Erath 9.25 ...

Gas prices may prompt Maine to leave Nepool.(CURRENT)
April 7, 2008... Many chuckles have been shared over the years regarding Texas seceding from the rest of the country, but Maine may actually do it--when it comes to the power grid, that is. The state's energy regulators have recently deemed that staying in...

Ormat, Nevada utility unite to create Nevada geothermal project.(CURRENT)
April 7, 2008... Nevada Power, a wholly owned subsidiary of Sierra Pacific Resources, has entered into a joint ownership agreement with Ormat Nevada, a wholly owned subsidiary of Ormat Technologies, for the co-development of the Carson Lake geothermal energy...

Geothermal project set for Utah's Escalante.(CURRENT)
April 7, 2008... Raser Technologies has begun developing an additional geothermal project in Utah. This brings Raser's total projects under development to eight, representing 80 to 85 MW of geothermal power projects started since April 2007. Raser...

TransCanada to buy massive Ravenswood.(CURRENT)
April 7, 2008... National Grid is selling its massive Ravenswood Generating Station, acquired in the company's buyout of KeySpan, to TransCanada for $2.9 billion (NGW Oct.8,p9). Ravenswood is a 2,450-MW facility in Queens, New York, that provides New York...

Spot electricity trading.(CURRENT)
April 7, 2008... SPOT ELECTRICITY TRADING Trading Dates: March 31-April 4, 2008 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Comparative fuel prices.(CURRENT)
April 7, 2008... COMPARATIVE FUEL PRICES (Cash Market) April 7, 2008 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $86.00/ton $10.26/MMBtu $3.58/MMBtu EAST...

ETP moving on new gas pipeline for Texas, Louisiana Shale plays.(Regional Market Roundup)
April 7, 2008... Energy Transfer Partners (ETP) has approved construction of a $485 million, 42-inch natural gas pipeline to serve the Bossier and Barnett Shale natural gas plays of East and North Central Texas and Louisiana. The 160-mile, Texas...

Baker hughes rig count.(Regional Market Roundup)
April 7, 2008... [ILLUSTRATION OMITTED] BAKER HUGHES RIG COUNT Week Ended Apr. 4 Rotary Rigs Current Previous Year Week Week Ago Total US 1,830 1,808 1,726...

Gas price trends.(Regional Market Roundup)
April 7, 2008... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO South North Apr 7, 2008 Inter (well) -- -- 8.43 8.57...

TransAlta, Alstom developing CO2 capture, storage technology.(Canadian Markets)
April 7, 2008... In what could become a major step in helping develop the technology needed for the capture of coal-related greenhouse gas emissions, two companies have formed a strategic alliance to develop a large-scale carbon dioxide capture and storage...

Report: Mexico must study how other nations manage resources.(World Roundup)
April 7, 2008... Mexico's Energy Minister Georgina Kessel and Pemex Director Jesus Reyes Heroles have presented a report that stresses the need for Pemex to work with other companies to develop Mexico's deepwater reserves. However, they stopped short of...

Nigeria studying gas to gasoline project.(World Roundup)
April 7, 2008... Nigeria's president is interested in a proposal he said Exxon Mobil made regarding development of a natural gas to gasoline plant in the West African nation, according to a statement issued by President Umaru Musa Yar'Adua's office last week....

Noble lands $4B in drilling contracts.(World Roundup)
April 7, 2008... Offshore drilling contractor Noble has signed a memorandum of understanding for contracts worth up to $4 billion with Brazil's Petrobras. The contracts, together spanning 29 years, would extend the service of five deepwater drilling rigs...

Canadian price report.(World Roundup)
April 7, 2008... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas ...

Memory of Hackberry decision fading, but not impact on US LNG.
April 7, 2008... Many events transpired to change the operational and financial outlook for independent liquefied natural gas (LNG) receiving terminals in North America over the past decade. The sector hasn't developed anywhere nearly as prolifically as...

Natural gas weekly spot prices.
April 14, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 4/8-4/14 Avg. Avg. Apr. Price Daily Daily Bid Point $/MMBtu Chg....

Big banks' credit woes sparking scrutiny of trading credit lines.
April 14, 2008... In the wake of the Enron collapse of 2001, evaporating trading credit took down several major energy marketers. Today, Wall Street banks who largely replaced those victims of tightening credit standards are facing multi-billion dollar...

Questar CEO: Rockies will face pipe constraints again by 2010.
April 14, 2008... Proposals for additional pipeline capacity out of the Rocky Mountains seem to come on a monthly basis these days even though the initial phases of the Rockies Express (Rex) pipeline have added almost 2 billion cubic feet per day of takeaway...

BP, Conoco Alaska gas pipeline proposal hailed as huge advance.
April 14, 2008... ConocoPhillips and BP last week said they plan to jointly develop a $30 billion natural gas pipeline to ship Alaska North Slope gas to markets in the Lower 48. The announcement was universally hailed in Alaska and Washington, D.C., where...

New York rejects Broadwater LNG project; proponents to press on.
April 14, 2008... New York Gov. David Paterson determined last week that Broadwater LNG cannot operate safely in Long Island Sound under the state's coastal management laws, a decision that leaves the Royal Dutch Shell and TransCanada venture without...

Rules amended.(Late news ...)
April 14, 2008... Rules amended: The Alberta government has made some changes in its royalty system in an effort to convince the energy industry to spend C$500 million (US$490 million) more than planned drilling deep oil and natural gas wells, Alberta Energy...

Rex advance.(Late news ...)
April 14, 2008... Rex advance: Rockies Express-East earned a mostly positive environmental impact statement from federal regulators Friday. Reviewers said the Missouri-to-Ohio pipeline must follow alternate routes in certain areas to mitigate damage to the...

Spinoff opposed.(Late news ...)
April 14, 2008... Spinoff opposed: New York Attorney General Andrew Cuomo has asked the state power regulator to block Entergy's plan to spin off five of its nuclear power stations. Cuomo said the plan for the new nuclear company to borrow up to $6.5 billion...

Senators drum up measure giving states authority over LNG siting.
April 14, 2008... Motivated by growing opposition to LNG terminals planned in their home states, a group of influential US senators from New York, Connecticut and Oregon are pushing a bill that would negate the authority of federal regulators to approve the...

'Anomalies' and leaking pipeline shut down massive Gulf platforms.
April 14, 2008... Two giant production platforms were brought to their knees over the past few weeks and it wasn't the result of a titanic storm or economic meltdown. The shut downs were the result a small leak in a pipeline at the Independence Hub and what was...

Prices and differentials for major hubs and selected city gates.
April 14, 2008... [ILLUSTRATION OMITTED] PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES April 14, 2008 US$/MMBtu, Volume-Weighted SELECTED DAILY DIFFERENTIALS Differential 4/7 4/8 4/9 4/10 4/11 HH-NY ...

Natural gas market dominance by bulls or bears being hotly debated.
April 14, 2008... Despite Nymex prompt-month gas ending last week in the high $9/MMBtu range and the 12-month strip en-trenched at more than $10/MMBtu, a debate is raging over whether market bulls or bears will be in control of the herd in weeks to come. ...

North American weekly gas storage.
April 14, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Apr. Mar. 4 28 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 563 575 ...

TransCanada lifts curtain on 500 mile Pathfinder gas pipeline project.
April 14, 2008... The race to move natural gas from the Rockies to US markets tightened week as TransCanada said it was gauging support for its proposed Pathfinder Pipeline with the start of a binding open season. As proposed, Pathfinder is a 500-mile,...

Natural gas futures.
April 14, 2008... NATURAL GAS FUTURES Trading Dates: April 7 - April 11 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume ...

Pipeline capacity utilization.
April 14, 2008... PIPELINE CAPACITY UTILIZATION Location FlowDate Flow April (2008) April (2007) Month-to-Date Month-to-Date Transco 4/4/2008 1,495,544 1,484,794 1,556,890 Zone 6 NY ...

Senate OKs renewable credits; fate uncertain.(CURRENT)
April 14, 2008... Things took a turn for the better this week, from the perspective of renewable power advocates anxiously waiting on the federal government to renew production tax credits that are about to expire. The US Senate passed a measure 88-8 on...

Entergy bond to recover storm costs.(CURRENT)
April 14, 2008... The Louisiana subsidiary of New Orleans-based Entergy has preliminary approval from that state's Bond Commission to finance a $1 billion bond to pay for power restoration in the wake of the double whammy from the 2005 hurricanes. If...

Innovative natgas hedge coming to rescue of intermittent capacity.(CURRENT)
April 14, 2008... Wind's intermittency may be frustrating to power grid schedulers--and it may or may not have been the main culprit behind the recent Stage 2 emergency in Texas--but an international investment bank is leading the way in planning financially for...

Toshiba close to landing US reactor deal.(CURRENT)
April 14, 2008... Toshiba said last week that its Westinghouse division is in negotiations to build two nuclear reactors in Florida for Progress Energy in a deal worth about $6.9 billion. Progress Energy signed a letter of intent with Westinghouse Electric...

PG&E contract OK'd for wind capacity.(CURRENT)
April 14, 2008... Pacific Gas and Electric Company (PG&E) moved closer last week to meeting renewable mandates after the California Public Utilities Commission approved a 15-year wind supply contract for the San Francisco-based utility. Under the power...

Spot electricity trading.(CURRENT)
April 14, 2008... SPOT ELECTRICITY TRADING Trading Dates: April 7-April 11, 2008 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Comparative fuel prices.(CURRENT)
April 14, 2008... COMPARATIVE FUEL PRICES (Cash Market) April 14, 2008 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $88.00/ton $10.53/MMBtu ...

CSU storm team forecasts active tropical season for Atlantic basin.(Regional Market Roundup)
April 14, 2008... The Colorado State University hurricane forecast team--now led by Bill Gray's successor Phil Klotzbach--is once again predicting a "well above average" Atlantic basin hurricane season. "We are calling for a very active hurricane season this...

Baker hughes rig count.(Regional Market Roundup)
April 14, 2008... [ILLUSTRATION OMITTED] BAKER HUGHES RIG COUNT Week Ended Apr. 11 Rotary Rigs Current Previous Year Week Week Ago Total US 1,815 1,830...

Gas price trends.(Regional Market Roundup)
April 14, 2008... GAS PRICE TRENDS ROCKY NEW CALIFORNIA MTNS MEXICO South North Apr 14, 2008 Inter (well) -- -- 8.72 8.79...

Apache reporting strong results from Horn River Basin shale play.(Canadian Markets)
April 14, 2008... Apache gave the most substantive proof to-date last week that Canada's Ootla Shale--alternatively referred to as the Muskwa by EOG as well as some other operators--has a promising future ahead of it. At the Howard Weil Energy Conference in...

Calderon proposal offers modest reform; opposition is still fierce.(World Roundup)
April 14, 2008... Mexican President Felipe Calderon presented a watered-down energy reform proposal to Congress last week that would allow some expansion of private sector involvement in the oil industry, but retains the ban preventing Pemex from forming...

Canadian price report.
April 14, 2008... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas ...

Not dead yet: gas price link to oil more subtle, but still firm.
April 14, 2008... The recent gas market upsurge, which saw the Nymex Henry Hub gas May contract breeze past $10/MMBtu last week, would seem to defy logic and open the door for some rather sinister musings regarding evil financiers. However, though shadowy...

Natural gas weekly spot prices.
April 21, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 4/15-4/21 Avg. Avg. Apr. Price Daily Daily Bid Point $/MMBtu Chg....

Bill seeks compromise on Roan drilling; postpones BLM timetable.
April 21, 2008... For years, Colorado lawmakers have actively worked against each other in addressing a decade-long debate: whether or not energy production should be allowed in federal shale reserves on the scenic, biologically diverse Roan Plateau, an area...

Cheniere preparing to celebrate even as its prospects grow dim.
April 21, 2008... Cheniere Energy is having a big celebration today to mark the commissioning of the initial phase of its 2.6 billion cubic feet per day LNG receiving terminal at Sabine Pass, Louisiana, across the river from Port Arthur, Texas. The...

Conoco, BP proceeding with gas pipeline plans; Exxon still absent.
April 21, 2008... ConocoPhillips and BP say they are moving forward with plans to build a $30 billion natural gas pipeline on Alaska's North Slope regardless of whether the state chooses to sanction a competing proposal by independent pipeline company...

NatGas soars to two-year highs; strong advance 'defying gravity'.
April 21, 2008... Nymex May gas futures contract muscled into the $10.60s by late last week, a price level not seen for more than two years and only achieved during the historic run to $15/MMBtu in the wake of hurricanes Katrina and Rita in 2005. And with the...

Plan unveiled.(Late news ...)
April 21, 2008... Plan unveiled: The Department of the Interior's Minerals Management Service has designated five areas on the Outer Continental Shelf as priority areas for alternative energy research in federal waters. The five areas are offshore New Jersey,...

Storage proposed.(Late news ...)
April 21, 2008... Storage proposed: Central Valley Gas Storage has proposed building a natural gas storage facility north of Sacramento, California. The company has launched an open season for non-binding capacity bids for the proposed Central Valley Gas Storage...

Wild Horse.(Late news ...)
April 21, 2008... Wild Horse: Puget Energy plans to expand a wind farm on Central Washington's Whisky Dick Mountain, boosting the site's capacity up to 22%. The company's Puget Sound Energy division said it will ask state regulators to let it add about 25 wind...

XTO gains foothold in Marcellus Shale; buying linn's assets in play.
April 21, 2008... XTO made its entrance into the burgeoning Marcellus Shale in the Appalachian Basin last week, agreeing to pay $600 million to Linn Energy for a package of producing properties, leasehold acreage and infrastructure which will give it a solid...

Intrastate weekly spot prices.
April 21, 2008... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 4/15-4/21 Avg. Avg. Apr. Price Daily Daily Bid Point $/MMBtu Chg. High...

Schlumberger head: outlook good for North American gas producers.
April 21, 2008... The short-term outlook for North American natural gas production has "improved considerably" in recent months, says Schlumberger Chief Executive Andrew Gould, as lower storage levels, declining Canadian output and the decline in LNG cargoes...

Prices and differentials for major hubs and selected city gates.
April 21, 2008... SELECTED DAILY DIFFERENTIALS Differential 4/14 4/15 4/16 4/17 4/18 HH-NY +0.92 +0.76 +0.71 +0.61 +0.61 HH-Chicago +0.14 +0.00 -0.03 -0.03 -0.09 AECO-CHIC +1.10 +0.89 +0.84 +0.81 +0.51 AECO-PG&E...

North American weekly gas storage.
April 21, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Apr. 11 Apr. 4 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 582 ...

Natural gas futures.
April 21, 2008... NATURAL GAS FUTURES Trading Dates: April 14 - April 18 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last...

Europe sees a muted, personal opposition to LNG project plans.(LNG Update)
April 21, 2008... Though not as muscular as local opposition seen in the US, hostility to LNG regas terminals in Europe is gaining some intensity as the more European "banana syndrome" (build absolutely nothing anywhere near anything) becomes more observable....

Prices for major Atlantic Basin LNG hubs.(LNG Update)
April 21, 2008... * European gas prices are four-week spot averages from World Gas Intelligence. US gas prices are Natural Gas Week's volume-weighted composites from delivery first day of month through most current delivery date. New York Citygate is a weighted...

Ercot studies to wind farms: bring it on!(CURRENT)
April 21, 2008... The transmission zones to foster wind development in Texas are proceeding apace, and the studies are rolling in, heralding the value of the renewable source. A recent study conducted by the Texas Wind Coalition shows proposed transmission...

Duke prepares McGuire nuke for prolonged Southeastern drought.(CURRENT)
April 21, 2008... Just in case the drought impacting much of the southeastern US gets worse, one nuclear plant says it is ready. Duke Energy has finished modifying the auxiliary feedwater system to the McGuire Nuclear Station near Charlotte that will make it...

North Dakota project to upgrade lignite.(CURRENT)
April 21, 2008... Another coal-gasification project has been announced in the Midwest; the latest, in southwest North Dakota. South Heart gasification project partners, Great Northern Power Development (GNPD) and Allied Syngas have selected GTL Energy to...

Spot electricity trading.(CURRENT)
April 21, 2008... SPOT ELECTRICITY TRADING Trading Dates: April 14-April 18, 2008 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

DOE funding efforts curb GHG emissions.(CURRENT)
April 21, 2008... The US Department of Energy will shell out loan guarantee solicitations in two stages this summer for as much as $38.5 billion for projects using "advanced technologies that avoid, reduce or sequester emissions of air pollutants and greenhouse...