Natural Gas Week articles from August 2005

Natural Gas Week archives from August 2005

Natural gas weekly spot prices.
August 1, 2005... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 7/26-8/1 Avg. Avg. Avg. Price Daily Daily Bid Point $/MMBtu Chg....

Praise, scorn greet passage of $14 B energy bill by US Congress.
August 1, 2005... President Bush scored an important legislative win when Congress broke four years of gridlock to approve major energy policy overhaul legislation, which attempts to stimulate domestic energy supply and expand and modernize energy...

Churned Gulf slow storms' pace, production still in the crosshairs.
August 1, 2005... With the 2005 hurricane season off to an unbelievably active start--providing the Gulf of Mexico's energy industry with its fair share of gray hairs in the process--experts are pondering if it could have been a blessing in disguise. On one...

Hungry for volatility? Here's a recipe you are sure to savor.
August 1, 2005... Combine refinery fires with the uncertainty of a hyper-active hurricane season, mix it with a return of deep-pocketed fund account buying, and add a large dose of sharply ascending technical indicators, and you've got a recipe for all the...

NGW's monthly weighted averages.
August 1, 2005... NGW'S MONTHLY WEIGHTED AVERAGES $/MMBtu Price Point Jul.'05 Jun.'05 May 05 Apr.'05 Mar.'05 Gulf Coast ANR SE 7.40 7.09 6.41 7.09 6.82 Col. Gulf - Erath 7.53 7.15...

Inventory provision has Florida lawmakers feeling under the gun.
August 1, 2005... The final version of the Energy Bill includes a provision for a proposed inventory assessment of the Outer Continental Shelf (OCS) that has elected officials on the eastern side of the Gulf of Mexico up in arms. And some see this as the first...

Sabine Pass expansion.(Late news ...)
August 1, 2005... Sabine Pass expansion: Houston-based LNG terminal developer Cheniere Energy has filed an application to the Federal Energy Regulatory Commission to expand the receiving capacity of the Sabine Pass terminal it is building in Cameron Parish,...

Asset sale.(Late news ...)
August 1, 2005... Asset sale: Allegheny Energy announced Friday it can now sell its West Virginia assets, including Mountaineer Gas, the state's largest natural gas service company with around 230,000 customers, to a group of private equity investors for around...

New US boss at Shell talks gas policy, corporate image issues.
August 1, 2005... In a company where traders and technical professionals have generally held the top executive slots, John Hofmeister is an anomaly. The newly named US country chairman and president of Shell Oil is neither an engineer nor a geoscientist. Nor did...

Intrastate weekly spot prices.
August 1, 2005... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 7/26-8/1 Avg. Avg. Aug. Price Daily Daily Bid Point $/MMBtu Chg. High...

Unique Ivan still has industry guessing, preparing for repeat.
August 1, 2005... Was Hurricane Ivan a 100-year storm or one that occurs once every 1,000 years? The short answer--yes and neither. Ivan was the focus of considerable debate and discussion this past week at the American Petroleum Institute-sponsored 2005...

Prices and differentials for major hubs and selected city gates.
August 1, 2005... [ILLUSTRATION OMITTED] August 1, 2005 US$/MMBtu, Volume-Weighted SELECTED DAILY DIFFERENTIALS Differential 7/25 7/26 7/27 7/28 7/29 HH-NY +0.98 +0.89 +0.66 +0.45 +0.49 HH-Chicago -0.17 -0.29...

Andrew's bite was stronger, but Ivan won hands down for impact.
August 1, 2005... Hurricane Ivan has created a new reality for the Gulf energy industry. The storm and high prices for oil and gas have put the Gulf of Mexico under the national spotlight--a place it will stay for some time to come, according to Chris...

Composite spot wellhead price.
August 1, 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 6.99 6.26 6.91 7.50 2004 5.90 4.79 5.28 5.62 6.17 6.11...

Natural gas futures.
August 1, 2005... NATURAL GAS FUTURES Trading Dates: July 25 - July 29, 2005 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume...

Southwestern accelerates plans for its Fayetteville Shale gas play.
August 1, 2005... Southwestern Energy is stepping up the pace at which it is developing the Fayetteville Shale play in the western Arkansas portion of the Arkoma Basin. The company announced plans last week to increase its overall exploration and production...

Production tops 1 Tcf for Devon Energy in prolific Barnett Shale.
August 1, 2005... Five years ago, only a handful of companies had identified North Texas' Barnett Shale structure as one of the US lower 48's next natural gas hot spots. Notable among them was Mitchell Energy & Development, subsequently acquired by Devon Energy...

Strong European demand for LNG pulling supply from US markets.
August 1, 2005... Short-term LNG markets continue to be dominated by strong demand from Europe, in an environment of rising prices in underlying gas markets worldwide. At what should be the height of the US LNG import season, the BG-controlled Lake Charles...

North American weekly gas storage.
August 1, 2005... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Jul. 22 Jul. 15 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1288 ...

Natural gas bidweek prices.
August 1, 2005... NATURAL GAS BIDWEEK PRICES Flow Dates: 8/1-8/31 August Chg. Prev. Price Avg. from Bid- Point $/MMBtu Prev....

Offshore drillers reap benefits of tight global rig market.
August 1, 2005... It was a long time coming, but offshore drilling contractors are finally reaping the trickle-down effect of high energy prices and increased upstream spending by oil and gas companies. Rig-owners are operating their fleets at high...

Major power markets filling up on natural gas.(CURRENT)
August 1, 2005... Strategically planned gas-fired generation to meet surging demand could not have come soon enough as the heat wave that seared the nation catapulted power demand to new heights. Demand for power began to surface last summer, but this...

DG technology tested at Texas Wal-Mart.(CURRENT)
August 1, 2005... Wal-Mart is keeping the lights on at its newest super-center in McKinney, Texas, using wind, solar and biofuels as its primary sources for electricity. The supercenter will generate much of its electricity with a 50-kW Bergey Windpower...

Energy bill nixes 10% mandates, wind power tax credit extended.(CURRENT)
August 1, 2005... Now that the long sought after energy policy has been hammered out in conference and passed by both houses of Congress, only the president's signature stands in the way of the 10-year, $14.5 billion energy bill becoming law. Once Bush...

Spot electricity trading.(CURRENT)
August 1, 2005... SPOT ELECTRICITY TRADING Trading Dates: July 25-July 29, 2005 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Comparative fuel prices.(CURRENT)
August 1, 2005... COMPARATIVE FUEL PRICES (Cash Market) August 1, 2005 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $57.00/ton $7.94/MMBtu $2.38/MMBtu EAST COAST New York ...

New Jersey to file suit against Delaware in ongoing LNG fight.(Regional Market Roundup)
August 1, 2005... Acting New Jersey Governor Richard J. Codey has asked the state's attorney general to file suit against the state of Delaware in the US Supreme Court in a battle over the siting of a liquefied natural gas LNG receiving terminal developed by BP...

Baker hughes rig count.(Regional Market Roundup)
August 1, 2005... [ILLUSTRATION OMITTED] BAKER HUGHES RIG COUNT Week Ended Jul. 29 Rotary Rigs Current Previous Year Week Week Ago Total US 1,412 1,410...

Gas price trends.(Regional Market Roundup)
August 1, 2005... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO South North Aug 1, 2005 Inter (well) - - 6.06 5.98 ...

Nova Scotian minister refutes view energy policy a shambles.(Canadian Markets)
August 1, 2005... Nova Scotia's energy minister is taking strong exception to allegations raised by a Canadian university professor in a study released last week that the provincial government's energy strategy is not benefiting the region's economy and...

Anadarko seals exploration pact with big Indonesian independent.(World Roundup)
August 1, 2005... Moving to build on the foundation it established in Indonesia last year, Houston-based Anadarko Petroleum has struck a joint venture exploration agreement with Medco Energi, the Southeast Asian nation's largest independent oil and gas company....

Canadian price report.(World Roundup)
August 1, 2005... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas ...

Scorching August? Month will be hot, but how hot is debatable.(World Roundup)
August 1, 2005... A key factor behind Nymex August futures rolling off the board at an improbably high $7.647/MMBtu was that in the days leading up to expiration a WSI forecast began circulating in the market predicting August would be warmer than normal in the...

Natural gas weekly spot prices.
August 8, 2005... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 8/2-8/8 Avg. Avg. Aug. Price Daily Daily Bid Point $/MMBtu Chg....

Massachusetts politicians pulling end run on Weaver's Cove Energy.
August 8, 2005... A last minute addition to the $286.4 billion federal transportation bill approved by Congress 10 days ago could scuttle Hess subsidiary Weaver's Cove Energy's plans to build its proposed LNG terminal in Fall River, Massachusetts, just weeks...

Shell hard at work in Wyoming's challenging Pinedale Anticline.
August 8, 2005... Royal Dutch Shell has not made a heck of a lot of noise about its gas drilling in western Wyoming's Pinedale Anticline since entering the area through the acquisition of privately owned McMurry Energy in late 2001. But over the last few years...

Coal snafus sending natural gas demand higher, spikes storage.
August 8, 2005... Market reaction to last week's curiously low natural gas storage injection was fast and furious, sending the September contract up more than 30 cents within the first hour of the US Energy Information Administration report. Hardly any analyst...

Gray: wild Atlantic hurricane season might get even wilder.
August 8, 2005... Already off to a wild start, the 2005 Atlantic hurricane season is about to get even wilder, according to upgraded forecasts released last week by the National Weather Service and Dr. William M. Gray. And it may be a season that gets its place...

Keyspan requests rehearing.(Late news)
August 8, 2005... Keyspan requests rehearing: KeySpan has filed a request for a rehearing with the Federal Energy Regulatory Commission after the agency denied the company's request to upgrade its existing Fields Point LNG facility in Providence, Rhode Island....

Chevron ups stake.(Late news)
August 8, 2005... Chevron ups stake: Chevron has increased to 100% its equity stake in Bridgeline Holdings, which operates a 1,000 mile natural gas pipeline system and over 12 Bcf of gas storage in Southern Louisiana. Bridgeline was formed in 2000 between...

LNG plans supported.(Late news)
August 8, 2005... LNG plans supported: A group of legislators belonging to the Southern Legislative Conference have adopted a position paper that calls for the speedy consideration of proposed LNG import terminals by state and federal officials. The group...

Kinder Morgan, Terasen ink deal expanding breadth in US, Canada.
August 8, 2005... The Kinder Morgan Inc. acquisition of Canadian midstream company Terasen not only gives KMI greater access to Canada's growing oil pipeline sector, it also makes the company a much bigger player in the natural gas distribution business. ...

Intrastate weekly spot prices.
August 8, 2005... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 8/2-8/8 Avg. Avg. Aug. Price Daily Daily Bid Point $/MMBtu Chg. High Low...

Targa Resources to buy Dynegy midstream in $2.35 billion deal.
August 8, 2005... The restructuring of the midstream natural gas business shows no signs of slowing down, with deals valued in the billions of dollars occurring almost monthly. Last week, Houston-based Targa Resources was the mover and shaker. The company...

Prices and differentials for major hubs and selected city gates.
August 8, 2005... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES August 8, 2005 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 8/1 8/2 8/3 8/4 8/5 HH-NY ...

EIA: hard fought energy bill will do little to address needs.
August 8, 2005... President Bush is scheduled to sign the comprehensive energy bill today, ending a long struggle in Congress to address the nation's future energy concerns. But it may fall short of expectations, according to an Energy Information Administration...

North American weekly gas storage.
August 8, 2005... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Jul. 29 Jul. 22 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1326 ...

Alaskans move to force majors' hand in building gas pipeline.
August 8, 2005... The mammoth Alaska natural gas pipeline proposal continues to generate a fair share of threats from Alaskan politicians and demands for more financial assistance from the group of companies planning to build the pipeline. The...

Devon Energy seeing continued success in Barnett Shale field.
August 8, 2005... The Barnett Shale field in Texas is continuing to be a shining star for Oklahoma-based Devon Energy. The company this week reported on its operations in both the US and overseas during a mid-morning conference call last week to announce its...

Natural gas futures.
August 8, 2005... NATURAL GAS FUTURES Trading Dates: August 1-August 5, 2005 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Thursday Last Volume Last Volume...

BP sees possible doubling of output from Wamsutter field.
August 8, 2005... BP is considering a big ramp-up in development activity in the Wamsutter area of south-central Wyoming--a move which could double its gas production in the area over the next few years. The supermajor and its predecessor Amoco have been in...

Pipeline capacity utilization.
August 8, 2005... PIPELINE CAPACITY UTILIZATION Pipeline Point Name Capacity Jul-05 Colorado Interstate Gas Cheyenne 590,000 96% Columbia Gas Transmission Leach 2,218,000 57%...

Gas-heavy Texas adding to merchant coal fleet.(CURRENT)
August 8, 2005... The poster child for electric deregulation may have a new example to set for other power markets dominated by gas-fired generation. Growing demand and higher natural gas costs appear to be changing the fuel mix for power generation in the Lone...

Fitch: energy bill positive for credit.(CURRENT)
August 8, 2005... Credit implications of the new energy bill will mostly be positive for natural gas and power utility industries, according to rating agency Fitch Ratings. Tax credits, opportunities for accelerated depreciation, outright grants and other...

Calpine, GE start building next generation natural gas turbine.(CURRENT)
August 8, 2005... Calpine and GE announced last week that construction on their next-generation gas turbine would start this month. GE's H System technology is the industry's most fuel-efficient combined-cycle gas turbine technology capable of achieving 60%...

El Paso whittles away at asset sales.(CURRENT)
August 8, 2005... El Paso announced last week the $109 million sale of eight power plants in Asia that further chips away at the natural gas and pipeline company's non-core assets. A subsidiary of the privately held UK company Globeleq bought the plants...

US, Canada to add power markets link.(CURRENT)
August 8, 2005... Electric reliability in the Northeast reached a significant milestone as state regulators in Maine approved the necessity of building a major transmission line to connect Maine, New England and Canada's Maritime Provinces. The Northeast...

Spot electricity trading.(CURRENT)
August 8, 2005... SPOT ELECTRICITY TRADING Trading Dates: August 1-August 5, 2005 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Comparative fuel prices.(CURRENT)
August 8, 2005... COMPARATIVE FUEL PRICES (Cash Market) August 8, 2005 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $58.25/ton $8.91/MMBtu $2.43/MMBtu EAST COAST...

CNOOC Ltd. withdraws rival bid; Chevron, Unocal merger assured.(Regional Market Roundup)
August 8, 2005... CNOOC Ltd. announced last week it has ended its efforts to take over Unocal. The Chinese company announced early last week that it had withdrawn its offer for Unocal, largely as a result of the political heat its bid faced in Washington....

Baker Hughes rig count.(Regional Market Roundup)
August 8, 2005... BAKER HUGHES RIG COUNT Week Ended Aug. 5 Rotary Rigs Current Previous Year Week Week Ago Total US 1,436 1,412 1,235 Land ...

Gas price trends.(Regional Market Roundup)
August 8, 2005... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO TEXAS Gulf Coast Gulf Coast South...

CIBC coughs up $2.4 billion to satisfy alleged Enron collusion.(Canadian Markets)
August 8, 2005... The Canadian Imperial Bank of Commerce (CIBC) agreed last week to pay US$2.4 billion to disentangle itself from the Enron class action lawsuit, more than 10 times what the bank had set aside to settle the dispute and effectively wiping out its...

Trinidad's Altantic LNG Trains 4 & 5 reported gathering steam.(World Roundup)
August 8, 2005... Trinidad and Tobago's Atlantic LNG project appears to be getting into gear. Local sources tell NGW sister publication World Gas Intelligence that the investment decision for Train 4--due on line before the end of the year--is to be signed...

Repsol YPF buys 20% stake in Peru LNG.(World Roundup)
August 8, 2005... Hoping to strengthen its position in the Atlantic Basin, Repsol YPF is buying a 20% stake in the Peru LNG project, which is targeted at US and Mexican west coast markets. Moreover, Repsol has agreed to market the venture's entire 4 million...

Canadian price report.(World Roundup)
August 8, 2005... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA ALBERTA Huntingdon/ Kingsgate/ Total Sumas...

World party: drilling companies eye new markets, rig upgrades.
August 8, 2005... As a testament to the worldwide E & P boom, one Houston drilling company said it is setting its sights on new markets in the Middle East while another is considering reactivating idle rigs. With an eye on developing new markets, Rowan Cos....

Gas price report.
August 8, 2005... GAS PRICE REPORT ($/MMBtu--Spot) August 8, 2005 Interstate Intrastate Delivered Delivered Wellhead Wellhead To Pipeline To Utility Bid ...

Natural gas weekly spot prices.
August 15, 2005... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 8/9-8/15 Avg. Avg. Aug. Price Daily Daily Bid Point $/MMBtu...

Newly signed Energy Act already weighs in on new England scraps.
August 15, 2005... Ramifications of the sweeping 2005 Energy Policy Act, recently signed into law by President Bush, are already being felt in Connecticut, where Islander East Pipeline Co. has asked a federal appeals court to overturn a decision by the state...

Redefining NGLs: industry, once costly necessity, now cash cow.
August 15, 2005... The natural gas liquids business has suddenly become the hottest mergers and acquisitions play in the oil patch--a far cry from the days when NGLs were viewed as a bother-some stepchild of natural gas, itself the one-time red-headed stepchild...

Market knocking on the door of $10 natural gas, $70 crude oil.
August 15, 2005... It's hard to believe that crude oil and natural gas futures prices could muscle to such heights, beating record highs day after day last week. But what's even more mind blowing is that in all likelihood, the bulls are probably not done. ...

Long hot summer, coal shortages provide test of peaking demand.
August 15, 2005... It seems Mother Nature decided this was the year to pull out the stops with some of the hottest weather in decades, driving up electricity demand to record levels and kicking on a fleet of gas-fired peakers whose impact was heretofore untested....

Move made against Shell.(Late news ...)
August 15, 2005... Move made against Shell: Venezuela's tax authority, the Seniat, has asked a local court to freeze Royal Dutch Shell's Venezuelan assets, worth in excess of $130 million, while also ordering the temporary closure of one of Shell's offices, in...

Commission opposes feds.(Late news ...)
August 15, 2005... Commission opposes feds: Continuing a long-running feud, the California Coastal Commission voted unanimously to oppose the federal government's plan to extend 36 offshore oil and gas leases off the state's coast. In rejecting the federal move,...

Cheniere investigated.(Late news ...)
August 15, 2005... Cheniere investigated: Houston-based LNG terminal developer Cheniere Energy announced that the US Securities and Exchange Commission had started a formal and non-public investigation of "actions and communications by the company, its current or...

IHS: Gulf of Mexico will remain vital key to US energy future.
August 15, 2005... Growing demand for natural gas will continue to keep the Gulf of Mexico's deepwater and ultra-deep plays the star of the North American energy field for some time to come. That was the message given to the audience at the IHS Energy Round...

Intrastate weekly spot prices.
August 15, 2005... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 8/9-8/15 Avg. Avg. Aug. Price Daily Daily Bid Point $/MMBtu Chg. High Low...

Firms find occasional surprise in declining Gulf Coast region.
August 15, 2005... Crude oil and natural gas production in the onshore Gulf Coast region has essentially been a story of steady decline in recent years, but some companies have fared well, occasionally drilling an exceptional well that causes heads to turn. ...

Prices and differentials for major hubs and selected city gates.
August 15, 2005... [ILLUSTRATION OMITTED] August 15, 2005 US$/MMBtu, Volume-Weighted SELECTED DAILY DIFFERENTIALS Differential 8/8 8/9 8/10 8/11 8/12 HH-NY +0.79 +0.71 +0.86 +0.89 +0.76 HH-Chicago -0.13 -0.15...

Rosetta relishes freedom after break away from parent Calpine.
August 15, 2005... No longer held back by strict budgetary limits imposed by its former parent--struggling independent power producer Calpine--Rosetta Resources expects to thrive and bloom as an independent exploration and production company. Rosetta, which...

North American weekly gas storage.
August 15, 2005... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Aug. 5 Jul. 29 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1365 ...

Experts say high energy prices to inevitably cut into demand.
August 15, 2005... High oil and gas prices are here to stay for a while, but ultimately they will cut into demand and bring forth new energy supplies, according to speakers at the recent Colorado Oil and Gas Association's annual conference in Denver. David...

Natural gas futures.
August 15, 2005... NATURAL GAS FUTURES Trading Dates: August 8 - August 12, 2005 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last...