Natural Gas Week articles from August 2008

Natural Gas Week archives from August 2008

Natural gas weekly spot prices.
August 4, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 7/29-8/4 Avg. Avg. Aug. Price Daily Daily Bid Point $/MMBtu Chg. High Low ...

North Carolina joins OCS debate; Congress mulls OCS ban removal.
August 4, 2008... Following the paths of several other Atlantic coastal states, North Carolina leaders at the state and federal levels have in recent weeks brought the prospect of developing the state's considerable coastal reserves to the forefront. North...

Report claims US NatGas reserves could stretch into 22nd century.
August 4, 2008... The US has an estimated 2,247 trillion cubic feet of natural gas reserves, or enough to last the country for more than 100 years, according to a recent study released by the American Clean Skies Foundation. The report, based on producer...

Flurry of regulations, drilling bans in New Mexico hit industry.
August 4, 2008... While oil and natural gas rigs are a familiar sight in many parts of New Mexico, the state is no stranger to balancing exploration and production with the desire to preserve ancient ruins on the same expanse of land. Lately, however, the number...

MMS to include now banned OCS areas in upcoming lease sales.
August 4, 2008... The Bush administration put more pressure on Democrats to lift the ban on oil and gas drilling in the offshore Outer Continental Shelf (OCS) with the US Department of Interior saying last week it would prepare a new five-year lease sale program...

LNG exports.(Late news ...)
August 4, 2008... LNG exports: The chief executive of Chesapeake Energy on Friday said his company is looking at ways to invest in US export facilities for LNG. "I'm trying to figure out a way to get it on a boat and get it to overseas markets as well,"...

Roan opposition.(Late news ...)
August 4, 2008... Roan opposition: More than 17,000 protests have been filed in response to a federal plan to offer oil and gas leases on 55,186 acres of the Roan Plateau of western Colorado. The Bureau of Land Management's plan to hold an Aug.14 lease sale is...

Campaign promises.(Late news ...)
August 4, 2008... Campaign promises: Democratic presidential candidate Barack Obama on Friday called for a package of new measures to fight rising energy costs, including a $1,000 tax rebate for low- and middle-income workers. Obama said he would pay for the $65...

CFTC actions send contradictory signals on speculative influence.
August 4, 2008... The debate about the influence of speculators in energy markets took a new turn last week, as the Commodity Futures Trading Commission appeared to take contradictory stands on the issue. The day after the CFTC released a study concluding...

Intrastate weekly spot prices.
August 4, 2008... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 7/29-8/4 Avg. Avg. Aug. Price Daily Daily Bid Point $/MMBtu Chg. High Low...

September NatGas holds support; heat, tropics argue for rebound.
August 4, 2008... Natural gas and oil futures oscillated last week amid a collage of clashing fundamental and technical indicators. However, it appears that the recent pull back in prices may be turning bullish again as a new wave of buying is about to unfold....

Prices and differentials for major hubs and selected city gates.
August 4, 2008... SELECTED DAILY DIFFERENTIALS Differential 7/28 7/29 7/30 7/31 8/1 HH-NY +0.96 +0.91 +1.11 +0.98 +0.82 HH-Chicago -0.18 -0.20 -0.13 -0.08 -0.09 AECO-CHIC +0.98 +1.33 +1.34 +1.44 +1.30 AECO-PG&E...

Alaska Sen. Stevens caught up in Veco scandal; pleads not guilty.
August 4, 2008... Alaska Republican Sen. Ted Stevens entered a plea of not guilty last week to seven felony counts of failing to disclose gifts he received from an oil services company. Stevens, 84, appeared Thursday in federal District Court in Washington,...

Composite spot wellhead price.
August 4, 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 9.86 10.47 11.97 10.81 2007 6.25 7.79 6.52 7.07 7.34 7.03...

New York laying groundwork for development of Marcellus Shale.
August 4, 2008... The state of New York has begun laying groundwork for the use of horizontal drilling and hydraulic fracturing technology in the development of the Marcellus Shale, which extends through southwestern parts of the state. Earlier this month,...

Natural gas futures.
August 4, 2008... NATURAL GAS FUTURES Trading Dates: July 28 - August 1 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last...

Industry may take bad rap, but effort needed to improve image.(Conference notes)
August 4, 2008... While sending invitations to potential speakers for their annual natural gas strategy conference several months ago, leaders of the Colorado Oil and Gas Association received an eye-opening response from one legislator: "Due to the recent...

North American weekly gas storage.
August 4, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Jul. Jul. Weekly Year Yr. 5-year 5-year 25 18 Change Ago Ago Average Change Region Week Week Change US...

Natural gas bidweek prices.
August 4, 2008... NATURAL GAS BIDWEEK PRICES Flow Dates: 8/1-8/31 August Chg. Prev. Price Avg. from Bid. Point $/MMBtu Prev. High ...

EOG, Exxon earnings soar while Chesapeake hit by hedging losses.(Financial report)
August 4, 2008... EOG's success in the Texas Barnett Shale play continues to be a key driver of the company's gas production growth and a major factor behind strong second-quarter production growth to 1.35 billion cubic feet per day, up from 1.19 Bcf/d last...

NGW's monthly weighted averages.
August 4, 2008... NGW'S MONTHLY WEIGHTED AVERAGES $/MMBtu Price Point Jul-08 Jun-08 May-08 Apr-08 Mar-08 Feb-08 Gulf Coast ANR SE 11.20 12.59 11.21 10.20 9.41 8.53 Col. Gulf - Erath 11.31...

Environmentalists challenge new nuclear capacity.(CURRENT)
August 4, 2008... With nuclear energy seen by the industry and some environmentalists as a partial solution to the problem of climate change, it would be tempting to think that environmental challenges to newbuild were a thing of the past. Not so in the US...

Republicans block extension of renewable energy tax credits.(CURRENT)
August 4, 2008... Senate Republicans last week blocked legislation to extend a series of tax credits and incentives for renewable energy as they continued their call for floor votes on measures to boost domestic oil and natural gas production. The 51-43...

Pricey Florida solar program axed by PUC.(CURRENT)
August 4, 2008... Utility regulators in the Sunshine State last week pulled the plug on a $11.4 million program devoted to developing solar energy. Florida's Public Service Commission decided administration and marketing costs for the five-year-old program,...

Spot electricity trading.(CURRENT)
August 4, 2008... SPOT ELECTRICITY TRADING Trading Dates: July 28-August 1, 2008 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Wyoming 'quality' wind potential touted.(CURRENT)
August 4, 2008... While the Desert Southwest has much more potential to obtain clean energy from solar power, a study released last week by National Grid, a London-based utility, shows that Wyoming's wind can play a huge role providing additional power to the...

DOE to fund carbon capture projects.(CURRENT)
August 4, 2008... The US Department of Energy will provide $36 million for 15 projects aimed at developing "cost-effective" technologies for capturing carbon dioxide (CO2) from the existing fleet of coal-fired power plants. The projects awarded last week...

Comparative fuel prices.(CURRENT)
August 4, 2008... COMPARATIVE FUEL PRICES (Cash Market) August 4, 2008 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $135.00/ton $9.60/MMBtu $5.63/MMBtu ...

Midcontinent express prepares for additional capacity expansion.(Regional Market Roundup)
August 4, 2008... The Midcontinent Express Pipeline will expand its natural gas line in the southern US following a successful binding open season. The company, a joint venture of Kinder Morgan Energy Partners and Energy Transfer Partners, has awarded the...

Baker Hughes rig count.(Regional Market Roundup)
August 4, 2008... BAKER HUGHES RIG COUNT Week Ended Aug. 1 Rotary Rigs Current Previous Year Week Week Ago Total US 1,951 1,957 1,781 Land ...

Gas price trends.(Regional Market Roundup)
August 4, 2008... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO South North Aug 4, 2008 Inter (well) -- -- 6.71 7.44...

Ontario power prices should be fairly stable as coal is eliminated.(Canadian Markets)
August 4, 2008... One analyst's average price forecast of $58.54/MWh for Ontario for this year may seem low--along with the projected forecast of $71.82/MWh by 2011, given increasing fossil fuel prices expected the next few years. However, even though the...

Flood of summer LNG imports to US appears likely in 2008.(World Roundup)
August 4, 2008... US prospects for a summer LNG influx could be dimming with a popular storage play turning attention to winter LNG. Some traders are speculating that winter LNG prices could jump as high as $30/MMBtu. "Asians buyers are willing to pay...

Exxon-backed Nigerian NGL plant opens.(World Roundup)
August 4, 2008... Exxon Mobil affiliate Mobil Producing Nigeria has begun operations at a $1.3 billion natural gas liquids (NGLs) project. The East Area Natural Gas Liquids II project will produce 50 million b/d and ultimately recover 275 million bbl of liquids...

Venezuela returns to LNG export mode.(World Roundup)
August 4, 2008... Venezuelan President Hugo Chavez has invited Gazprom to enter the Deltana Platform and Mariscal Sucre LNG projects. The last time Mariscal Sucre surfaced, it had morphed from an LNG-only to a domestic gas-only scheme. Now it seems to be a...

Canadian price report.(World Roundup)
August 4, 2008... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas ...

Ex-Enron power player Pai making moves in emissions credit market.
August 4, 2008... The Enronification of the energy business continues unabated, with the latest development being among the strangest. Lou L. Pai, the shadowy ex-head of Enron's power division, suddenly emerged from his vast Colorado estate last week to pay...

Natural gas weekly spot prices.
August 11, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 8/5-8/11 Avg. Avg. Aug. Price Daily Daily Bid Point $/MMBtu Chg. High Low Vol....

Obama backs partial lifting of OCS ban; supports Senate compromise.
August 11, 2008... Faced with an electorate that now sees an economic downturn and rising energy costs as a chief issue in this year's presidential election cycle, Democratic candidate Sen. Barack Obama last week mapped a set of energy priorities he plans to...

Natural gas vehicles gaining on diesel in the well-to-wheels test.
August 11, 2008... In Donald O'Connor's modeling of transportation fuels, natural gas comes out looking pretty good--and that's saying something. O'Connor, president of [(S&T).sup.2] Consultants, is the person behind GHGenious, a "model for life cycle...

Gas tumbles as rallying dollar triggers sell-off in crude futures.
August 11, 2008... A major rally in the US dollar against the euro and other world currencies led to a sell-off in crude oil futures Friday, pulling down September gas futures already weakened by light summer demand and rising supply. [GRAPHIC OMITTED] ...

Sparrows point opposition plans LNG case appeal to Supreme Court.
August 11, 2008... Baltimore County is taking its case against the proposed AES Sparrows Point LNG project to the US Supreme Court in the latest in a series of legal and legislative attempts to block the project. The county plans to appeal a federal appellate...

Alaska controversy.(Late news ...)
August 11, 2008... Alaska controversy: Exxon Mobil will fight the state of Alaska's decision to terminate its leases at the Point Thomson oil and natural gas field on the North Slope. Margaret Ross, a company spokeswoman, said Exxon was extremely disappointed...

Independence returns.(Late news ...)
August 11, 2008... Independence returns: The Independence Hub natural gas production platform in the Gulf of Mexico was ramping up on Friday after planned maintenance work on an associated pipeline was completed, the platform's majority owner, Enterprise Products...

Devon unveils massive resource estimate in Haynesville gas play.
August 11, 2008... Devon Energy gave the industry its first peek at the potential of its Haynesville Shale position last week, announcing that early estimates from its initial vertical drilling tests indicate that there could be as much as 73 trillion cubic feet...

Intrastate weekly spot prices.
August 11, 2008... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 8/5-8/11 Avg. Avg. Aug. Price Daily Daily Bid Point $/MMBtu Chg. High Low...

Prices and differentials for major hubs and selected city gates.
August 11, 2008... [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 8/4 8/5 8/6 8/7 8/8 HH-NY +0.85 +0.67 +0.54 +0.47 +0.44 HH-Chicago -0.06 -0.22 -0.15 -0.18 -0.22 AECO-CHIC +1.48 +1.01...

High energy prices fuel profits across most O&G industry sectors.
August 11, 2008... Oil and gas driller Pride International posted higher second-quarter profits, helped by increased dayrates for its deepwater and midwater rigs offsetting lower utilization levels. Drilling companies have seen soaring dayrates, as high...

North American weekly gas storage.
August 11, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Aug. Jul. Yr. 1 25 Weekly Year Ago 5-year 5-year Region Week Week Change Ago Change Average Change US ...

Natural gas futures.
August 11, 2008... NATURAL GAS FUTURES Trading Dates: August 4 - August 8 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume...

Pipeline capacity utilization.
August 11, 2008... PIPELINE CAPACITY UTILIZATION Location FlowDate Flow Aug. (2007) Aug. (2006) Month-to-Date Month-to-Date Transco 8/4/2008 1,404,288 1,403,336 1,380,623 Zone 6 NY Niagara...

Guessing Yucca Mountain costs a slippery slope.(CURRENT)
August 11, 2008... The Bush administration wants the nation to know there is a consequence to not deciding--and quickly, at that--what to do with what no one wants in their backyard. Last week, Ward Sproat, the Department of Energy's director for the...

Laser technology used to clean biogas.(CURRENT)
August 11, 2008... Laser technology has vastly enhanced medical applications--not to mention made rock concerts more groovy--but thanks to a recent discovery, it can now also be used to help clean up methane gas for more widespread commercial usage by electric...

Sunny California rules in solar power, state utilities on board.(CURRENT)
August 11, 2008... It's no surprise that California dominates utilities' progress nationwide in harnessing solar power, according to a recent study released by the Solar Electric Power Association (Sepa). Not only does the state mandate 20% of major utilities'...

Greens: Texas coal plant too mercurial.(CURRENT)
August 11, 2008... Texas' reputation for doing things in a big way is not always desirable, as evidenced by the Sierra Club's recent ranking of Energy Future Holdings' power generating subsidiary, Luminant's Martin Lake coal-fired plant as being the worst mercury...

Constellation moves on Alabama gas plant.(CURRENT)
August 11, 2008... Constellation Energy plans to have its 774-MW, natural gas-fueled Hillabee Energy power plant online by 2010, and has named a new project general manager. Tony Padgett is moving internally, from managing two coal plants the company owns in...

Spot electricity trading.(CURRENT)
August 11, 2008... SPOT ELECTRICITY TRADING Trading Dates: August 4-August 8, 2008 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Comparative fuel prices.(CURRENT)
August 11, 2008... COMPARATIVE FUEL PRICES (Cash Market) August 11, 2008 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $120.00/ton $8.96/MMBtu ...

Proposed Haynesville pipeline would transport some 1.5 Bcf/d.(Regional Market Roundup)
August 11, 2008... DCP Midstream Partners and M2 Midstream have signed an agreement to pursue the development of a large diameter pipeline to move natural gas from the emerging Haynesville Shale play in North Louisiana. The 150-mile Haynesville Connector...

Baker Hughes rig count.(Regional Market Roundup)
August 11, 2008... [ILLUSTRATION OMITTED] BAKER HUGHES RIG COUNT Week Ended Aug. 8 Rotary Rigs Current Week Previous Week Year Ago Total US 1,967 1,951 1,798 Land ...

Gas price trends.(Regional Market Roundup)
August 11, 2008... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO South North Aug 11, 2008 Inter (well) -- -- 5.80 7.40...

Canadian-US climate initiative sets goals; pact launch in 2012.(Canadian Markets)
August 11, 2008... Although the US and Canada seem to face an endless impasse on how to best craft carbon control policy for reducing greenhouse gas pollutants, four Canadian provinces and seven western US states have made a pact to take matters into their own...

New Arctic map may help define boundary claims in resource race.(World Roundup)
August 11, 2008... UK scientists from Durham University's International Boundaries Research Unit have drawn up the first detailed map outlining areas of the Arctic that have already been delimited or could be claimed in the future by the bordering coastal states,...

Russia aims to revive Cuban energy ties.(World Roundup)
August 11, 2008... Seeking to restore ties with its former Cold War ally, the Russian government is considering cooperation agreements with Cuba in a variety of industries, including energy. Analysts say Russia's renewed interest in the Caribbean nation...

Canadian price report.(World Roundup)
August 11, 2008... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas ...

Alternatives gain momentum on RJ's nod, cheap solar storage.
August 11, 2008... Clues continue to pour in as to why we no longer light our lamps with whale oil. The latest: a "dirt cheap" breakthrough that apparently solves the problem of storing solar energy cheaply, while wind is finally standing upright. ...

Natural gas weekly spot prices.
August 18, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 8/12-8/18 Avg. Avg. Aug. Price Daily Daily Bid Point $/MMBtu Chg. High...

Roan Plateau lease sale draws in only fraction of expected amount.
August 18, 2008... Natural gas exploration and development leases covering large portions of the Roan Plateau in northwestern Colorado sold for twenty times less than recent market value for similar lands in an auction held late last week. The poor sales are...

Ethanol, ammonia surge behind DOE's rising natural gas demand.
August 18, 2008... Riddle: Why does Department of Energy natural gas data show industrial demand up by a healthy 4% to 5% year to date if natural gas prices peaking around $14/MMBtu caused widespread industrial demand destruction? Answer: Ethanol and ammonia...

NGVs pick up bi-partisan support in congress; bills before committee.
August 18, 2008... Natural gas vehicles are playing with a better hand these days having picked up the support of a Democratic congressman, a Republican senator and a pair of billionaires. Within days of one another, Rep. Rahm Emanuel (D-Illinois) and Sen....

House speaker Pelosi Softens OCS stance; Senate plan sparking fire.
August 18, 2008... When Congress reconvenes for three weeks in September, it will have a tough question on its hands: whether or not to renew its longstanding, 27-year ban on offshore oil and gas drilling on most of the US Outer Continental Shelf (OCS). The ban...

New plant.(Late news ...)
August 18, 2008... New plant: Atlas Pipeline Mid-Continent, a business unit of Atlas Pipeline Partners, is planning to construct a $150 million natural gas processing plant near Bennington, Oklahoma. The proposed project will have an initial natural gas...

Green heat.(Late news ...)
August 18, 2008... Green heat: Pressure is mounting on Oregon's only coal-fired power plant. State regulators are ordering Portland General Electric Co. to cut haze-causing pollutants from the Boardman plant 150 miles east of Portland by 65 percent by 2014, which...

Nuke licensing.(Late news ...)
August 18, 2008... Nuke licensing: The US Department of Energy and the US Nuclear Regulatory Commission late last week presented to Congress the Next Generation Nuclear Plant Licensing Strategy Report, describing the licensing approach, analytical tools, research...

Shale play.(Late news ...)
August 18, 2008... Shale play: Trans-Orient Petroleum--a tiny Canadian independent--says it will begin drilling an unconventional shale play in New Zealand over the next year.

Milestone reached.(Late news ...)
August 18, 2008... Milestone reached: John Lau, chief executive of Husky Energy said that 100 million barrels of crude oil has been produced from the White Rose oil field, 350 kilometers southeast of St. John's, Newfoundland and Labrador. The milestone was...

Natgas futures hit seven-month low; tropical storm percolating.
August 18, 2008... Not since early February have prompt-month natural gas futures prices fallen below $8, but September natural gas breached that mark on Friday, briefly dipping into the $7.90s. While further erosion in crude oil could pull gas futures back into...

Intrastate weekly spot prices.
August 18, 2008... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 8/12-8/18 Avg. Avg. Aug. Price Daily Daily Bid Point $/MMBtu Chg. High Low...

Domestic NatGas market has more downside potential despite slide.
August 18, 2008... Natural gas prices, which have come sharply off of record highs since early July, have a potential for an even greater downside, according to a Raymond James research note released last week. During the first half of the year, natural gas...

Prices and differentials for major hubs and selected city gates.
August 18, 2008... SELECTED DAILY DIFFERENTIALS Differential 8/11 8/12 8/13 8/14 8/15 HH-NY +0.50 +0.51 +0.50 +0.46 +0.54 HH-Chicago -0.21 -0.03 -0.05 -0.06 -0.06 AECO-CHIC +0.95 +1.10 +0.95 +0.97 +0.82 AECO-PG&E...

Energy industry applies lessons learned from '05 hurricane season.
August 18, 2008... The energy industry has taken to heart lessons learned from the hurricane season of 2005, when damage inflicted by Katrina and Rita led to a near-total shutdown of the Gulf of Mexico's offshore oil and gas production. In an attempt to...

North American weekly gas storage.
August 18, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Aug. Aug. Weekly Year Yr. 5-year 5-year 8 1 Ago Region Week Week Change Ago Change Average Change US ...

Natural gas futures.
August 18, 2008... NATURAL GAS FUTURES Trading Dates: August 11 - August 15 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume...

Opinions diverge on US need for LNG as imports stall, reserves soar.(LNG Update)
August 18, 2008... Recent growth in US natural gas production has caused many market observers to question if additional North American LNG imports will be needed over the next few years, casting doubts on the financial prospects for dozens of proposed import...