Natural Gas Week articles from December 2006

Natural Gas Week archives from December 2006

Natural gas weekly spot prices.
December 4, 2006... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 11/28-12/4 Avg. Avg. Dec. Price Daily Daily Bid Point $/MMBtu...

Gas market fundamental drivers appear to have lost their punch.
December 4, 2006... Usually market law is about as immutable as the law of gravity. What goes up must eventually come down in the face of bearish market conditions. Or so it seemed until recently; because when it comes to hedge fund activity in natural gas...

Republicans pushing drilling bill with last hours of power waning.
December 4, 2006... Republicans are set to use their last days in control of Congress to try to enact legislation expanding offshore drilling in the Gulf of Mexico. The House of Representatives Republican leadership on Friday slated a Tuesday vote on...

December contract expires with fireworks; January an early dud.
December 4, 2006... Before rolling off the board last week, the Nymex December gas futures contract mounted an impressive rally, with prices soaring at expiry amid a buying frenzy. But even while January gas continues holding well above $8, indicators suggest that...

Exxon's lease on Alaska's Point Thomson field revoked by state.
December 4, 2006... The state of Alaska on Monday moved to checkmate Exxon Mobil in the long-running chess match over control of the massive Point Thomson oil and gas field by declaring the company and other leaseholders in default for failing to develop the unit....

Ban upheld.(Late news ...)
December 4, 2006... Ban upheld: A ban on road construction in national forests set when former President Clinton was in office applies to hundreds of oil and gas leases sold by the Bush administration, according to a ruling handed down last week by a federal...

Plant sold.(Late news ...)
December 4, 2006... Plant sold: American Electric Power has completed its sale of the Plaquemine Cogeneration Facility in Plaquemine, Louisiana, to The Dow Chemical Company in a deal valued at $64 million. The 880-MW Plaquemine Cogeneration Facility has four...

Supreme court hears arguments in landmark global warming case.
December 4, 2006... The Supreme Court last week waded into the controversial issue of global warming, closely probing several states' claim that the Environmental Protection Agency was wrong for not regulating greenhouse gas emissions from new vehicles. ...

Intrastate weekly spot prices.
December 4, 2006... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 11/28-12/4 Avg. Avg. Dec. Price Daily Daily Bid Point $/MMBtu Chg. High...

Prices and differentials for major hubs and selected city gates.
December 4, 2006... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES December 4, 2006 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 11/27 11/28 11/29 11/30 12/1 HH-NY ...

US soon to be awash in LNG regas capacity once thought too little.
December 4, 2006... A few years ago, the US was concerned about a perceived lack of regasification capacity for the flood of LNG due to hit North American shores before the end of the decade. A few Cassandras tried to warn about the potential for overbuilding, but...

Composite spot wellhead price.
December 4, 2006... COMPOSITE SPOT WELLHEAD PRICE January 2002 to Present ($/MMBtu) Year Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. 2006 8.20 7.30 6.47 6.61 5.93 6.04 5.93 7.11 4.60 5.47 6.78 2005 6.05 5.99...

Composite spot delivered-to-pipeline price.
December 4, 2006... COMPOSITE SPOT DELIVERED-TO-PIPELINE PRICE January 2002 to Present ($/MMBtu) Year Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. 2006 8.28 7.55 6.69 6.77 5.99 6.14 6.15 7.28 4.91 5.69 7.00 2005...

Speakers: Texas, Louisiana seen dominating LNG industry in US.
December 4, 2006... If Louisiana put out a welcome mat for the LNG business, the Lone Star State has opened the door and set a place at the table. Texas is currently home to eight LNG projects "and nine if you count Sabine Pass," said Victor G. Carrillo, a...

Natural gas futures.
December 4, 2006... NATURAL GAS FUTURES Trading Dates: November 27--December 1, 2006 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Thursday Last Volume Last...

Dinosaurs Enron Once denigrated thriving five years after its fall.
December 4, 2006... As former Enron chief executive Jeff Skilling packs his bags later this month to start a federal prison term of at least two decades, one could speculate on whether the former energy-trading "wunderkind" ever imagined the turmoil Enron would...

North American weekly gas storage.
December 4, 2006... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Nov. 24 Nov. 17 Weekly Year Yr. Ago Region Week Week Change Ago Change US East 1936 1964 -28 ...

Natural gas bidweek prices.
December 4, 2006... NATURAL GAS BIDWEEK PRICES Flow Dates: 12/1-12/31 December Chg. Prev. Price Avg. from Bid- Point $/MMBtu Prev....

Citygate prices.
December 4, 2006... CITYGATE PRICES December Chg. Prev. Price Avg. from Bid- Point $/MMBtu Prev. High Low Vol. Deals Week ...

EOG: Barnett up, but stealth plays fall short of expectations.
December 4, 2006... EOG Resources has bumped up its resource estimate for the prolific Barnett Shale gas play, but there is no hard evidence yet that any of the "stealth plays" it has been quietly pursuing will turn out to be anywhere near as successful. ...

Canadian natural cuts budget; complains of high service costs.
December 4, 2006... Canadian Natural Resources (CNR) hopes that the numerous company announcements of 2007 budget cuts will pressure service companies and rig contractors into lowering sky-high service costs for upstream firms. CNR Vice Chairman John Langille...

NGW's monthly weighted averages.
December 4, 2006... NGW'S MONTHLY WEIGHTED AVERAGES $/MMBtu Price Point Nov-06 Oct-06 Sep-06 Aug-06 Jul-06 Jun-06 Gulf Coast ANR SE 7.32 6.19 4.65 7.25 5.85 6.19 Col. Gulf--Erath 7.32 5.46 ...

West to coal: 'I wish I knew how to quit you'.(CURRENT)
December 4, 2006... Despite being fueled largely by hydro power, the West--despite political pressure to go greener--can't quite just say no to coal. Two of the Western Interconnect's massive, coal-fueled plants are, however, facing some major, fundamental...

DOE raining tax breaks on clean coal.(CURRENT)
December 4, 2006... To some, "clean coal" is an oxymoron--but not to the federal government. Last week, the US Department of Energy allocated nearly $1 billion in tax credits to nine clean-coal projects in nine states. But in an odd twist, the government...

PJM says market structure has saved retail consumers billions.(CURRENT)
December 4, 2006... The PJM Interconnection claims consumers in the coordinated market between PJM and the New York ISO (NYISO) have saved between $430 million and $1.3 billion annually, according to a study it commissioned of regional retail prices over seven...

DOE funds prototype coal dryer project.(CURRENT)
December 4, 2006... The US Department of Energy has given the go-ahead to Great River Energy to conduct a full-scale demonstration of its $31.5 million prototype coal dryer, designed to increase coal plant efficiency while reducing toxic emissions. The dryer...

DPL selling Ohio peaker plant to AEP.(CURRENT)
December 4, 2006... DPL Energy is selling its 480-MW Darby Electric Generating Station to Columbus Southern Power, a utility subsidiary of American Electric Power (AEP), for about $102 million. The simple cycle, natural gas peaking plant, located near...

Spot electricity trading.
December 4, 2006... Trading Dotes: November 27-December 1, 2006 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price POINT This Week Last Week Change Year Ago Month Ago Cinergy $47.10 ...

Comparative fuel prices.
December 4, 2006... COMPARATIVE FUEL PRICES (Cash Market) December 4, 2006 APPALACHIA Appalachian Pool Dlvd (Util) Ohio/Big Sandy River Coal $39.00/ton $8.43/MMBtu ...

Wyoming leads pack with $1B in MMS royalties; Texas takes $22M.(Regional Market Roundup)
December 4, 2006... About $2.2 billion was distributed to 34 states in 2006 as part of their share of revenues collected by the Department of Interior's Minerals Management Service. MMS Director Johnnie Burton said disbursements are made to states on a...

Baker Hughes Rig Count.
December 4, 2006... Week Ended Dec. 1 Rotary Rigs Current Week Previous Week Year Ago Total US 1,717 1,697 1,460 Land 1,608 1,587 1,360 Inland Waters ...

Gas price trends.
December 4, 2006... TEXAS Gulf CALIFORNIA ROCKY NEW Gulf Coast Coast ($/MMBtu) South North MTNS MEXICO...

Pengrowth energy trust snapping up conoco's Burlington properties.(Canadian Markets)
December 4, 2006... Energy trusts remain a force to be reckoned with in Canada's oil and gas mergers and acquisitions market despite government plans to phase out their tax advantages over the next four years. Pengrowth Energy Trust emerged as top dog last...

Marathon is nearing completion of LNG train in equatorial guinea.(World Roundup)
December 4, 2006... Marathon Oil said last week that Train 1 of its LNG project on Bioko Island, Equatorial Guinea, is on track to start up in mid-2007. Revealing details of a gas sales agreement between Marathon and BG, Dave Roberts, a Marathon senior vice...

Algerian LNG projects on back burner.(World Roundup)
December 4, 2006... Algeria is still aiming for gas exports of 8.2 billion cubic feet per day in 2010, but pipelines rather than LNG, will be the focus of increasing exports. Sonatrach officials said last week that the Algerian state company is encouraged by...

Canadian price report.
December 4, 2006... ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ ALBERTA Total Sumas Eastport Total ...

Coal could be ultimate loser in supreme court C[O.sub.2] emissions case.
December 4, 2006... In a case with far-reaching implications for the energy industry, the Supreme Court heard oral arguments last week in a lawsuit that will decide if the Environmental Protection Agency has the authority to regulate carbon dioxide (C[O.sub.2])...

Gas price report.
December 4, 2006... ($/MMBtu--Spot) December 4, 2006 Interstate Intrastate Delivered Wellhead Wellhead To Pipeline Bid Bid ...

Natural gas weekly spot prices.
December 11, 2006... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 12/5-12/11 Avg. Avg. Dec. Price Daily Daily Bid Point $/MMBtu Chg....

Greens castigate BLM inventory report as 'misleading,' 'biased'.
December 11, 2006... Environmentalist groups are calling the Bureau of Land Management's latest inventory report "misleading" while promoting a pro-drilling agenda. The report, an extension, or Phase II, of the 2003 Energy Policy and Conservation Act (EPCA)...

Chesapeake's McClendon: coal cheaper but inferior to NatGas.
December 11, 2006... Natural gas producers should put more energy into touting the fuel's environmental benefits, especially in comparison to coal, according to Chesapeake Energy Chief Executive Aubrey McClendon. "I think our biggest opportunity is ensuring...

Warming weather looking bleak for gas bulls; sell-off possible.
December 11, 2006... Near-term winter weather is decidedly bearish as seasonally light demand amid moderating temperatures is expected to keep a lid on January gas futures this week. However, even while the market appears poised to test recent lows, if last month's...

President could lift Bristol Bay drilling moratorium by Christmas.
December 11, 2006... President Bush is considering lifting a 17-year-old ban on oil and gas exploration in rich fishing waters off the coast of southwestern Alaska, a White House spokeswoman said Friday. The potential for drilling in Bristol Bay, home of the...

Hurricane forecast.(Late news ...)
December 11, 2006... Hurricane forecast: A Colorado State University research team issued its 2007 Atlantic hurricane forecast Friday, saying that El Nino conditions that led to a quiet hurricane season in 2006 are likely to dissipate by next summer, leading to...

Larger pipe.(Late news ...)
December 11, 2006... Larger pipe: El Paso, CenterPoint and Duke will expand the capacity of a planned natural gas pipeline project that will bring supplies to growing markets in the US Southeast. The companies said in a statement they signed a definitive agreement...

Three discoveries.(Late news ...)
December 11, 2006... Three discoveries: New Orleans-based Energy Partners (EPL) had three-for-three hits with one oil and two gas discoveries at its drilling projects in the Gulf of Mexico. EPL said it had struck two zones of high-quality potential natural gas pay...

Offshore drilling bill finally clears House, heads for showdown in Senate.
December 11, 2006... A bill expanding offshore drilling in the Gulf of Mexico cleared the House of Representatives on Friday after surviving a scare from an oil and gas royalty-related amendment. The Senate at press time was poised to take up the bill for a vote....

Intrastate weekly spot prices.
December 11, 2006... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 12/5-12/11 Avg. Avg. Dec. Price Daily Daily Bid Point $/MMBtu Chg. High...

Alaska majors challenge FERC over forced pipeline expansion.
December 11, 2006... A trio of major energy companies is challenging the authority of federal regulators to order expansion of a proposed natural gas pipeline in Alaska. An attorney representing Exxon Mobil, BP and ConocoPhillips last week told a three-judge...

Prices and differentials for major hubs and selected city gates.
December 11, 2006... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES December 11, 2006 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 12/4 12/5 12/6 12/7 12/8 HH-NY ...

BP slapped with $32 B bill; MMS head counters royalty criticism.
December 11, 2006... The federal Minerals Management Service (MMS) dropped a bill on oil giant BP on Thursday for more than $32 million in unpaid royalties and interest due from the company's New Mexico coalbed methane production. The bill, including $18.9...

North American weekly gas storage.
December 11, 2006... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Dec. 1 Nov. 24 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1946 ...

AGL plans $180 M NatGas storage site near Spindletop salt dome.
December 11, 2006... A 90-acre spot near the Spindletop salt dome in Beaumont, Texas, became some hot property last week, as Atlanta, Georgia-based AGL Resources unveiled a plan for a $180 million gas storage facility there that will rely on supply coming from some...

Natural gas futures.
December 11, 2006... NATURAL GAS FUTURES Trading Dates: December 4--December 8, 2006 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume...

Halliburton, Grant Prideco team developing drilling breakthrough.
December 11, 2006... Determining what is going on at the bottom of a well while drilling involves a lot of educated guesses, based on information derived from fluids and solids returned to the surface, behavior of the drill bit and perhaps a little "black magic"...

Pipeline capacity utilization.
December 11, 2006... PIPELINE CAPACITY UTILIZATION December December (2006) (2005) Month- Location FlowDate Flow Month-to-Date to-Date ...

Race on to start new nuke before Bush exits.(CURRENT)
December 11, 2006... Call it optimism. Call it blind ambition. But with roughly 800 days left in power, the Bush administration retains some determined goals towards advancing nuclear power in the US. "We want to see a new plant ordered and construction begun...

Enron: the musical hits home with West.(CURRENT)
December 11, 2006... Even five years after its spectacular spiral into bankruptcy, Enron's reach remains alive for the Western power industry. Most notable is the Snohomish Public Utility District's ongoing struggle to keep from paying millions in contract...

RGGI releases draft GHG rules designed to cut C[O.sub.2] emissions.(CURRENT)
December 11, 2006... Despite objections by a faction of power producers, the Regional Greenhouse Gas Initiative (RGGI) has released a preliminary draft of rules to reduce carbon dioxide emissions from power plants. The draft comes nearly a year to the day since...

Cogen group forms; seeking members.(CURRENT)
December 11, 2006... The Texas Combined Heat and Power Initiative officially organized as a non-profit group last week and is seeking members. Potential participants will be drawn from industrial, institutional (medical, educational and business) and commercial...

Spot electricity trading.(CURRENT)
December 11, 2006... SPOT ELECTRICITY TRADING Trading Dates: Dec. 4--Dec. 8, 2006 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT Week ...

Coal generation continues to roil ercot.(CURRENT)
December 11, 2006... A group of New York pension funds, along with the Connecticut State Treasurer's Office, both major TXU shareholders, last week filed resolutions regarding the company's plans to handle carbon dioxide (C[O.sub.2]) emissions produced by the 11...

Comparative fuel prices.(CURRENT)
December 11, 2006... COMPARATIVE FUEL PRICES (Cash Market) December 11, 2006 APPALACHIA Ohio/Big Sandy River Coal Appalachian Pool Dlvd (Util) $41.75/ton $7.77/MMBtu ...

Congress passes pipeline safety bill; AGA, others applaud final version.(Regional Market Roundup)
December 11, 2006... Congress approved legislation last week expanding federal oversight of low-stress oil pipelines and increasing protection measures for underground natural gas pipelines. Passage of the bill, which reauthorizes the national pipeline safety...

Baker hughes rig count.(Regional Market Roundup)
December 11, 2006... BAKER HUGHES RIG COUNT Week Ended Dec. 8 Rotary Rigs Current Week Previous Week Year Ago Total US 1,724 1,717 1,483 Land 1,611 1,608 ...

Gas price trends.(Regional Market Roundup)
December 11, 2006... GAS PRICE TRENDS TEXAS CALIFORNIA ROCKY NEW Gulf Coast Gulf Coast ($/MMBtu) South North MTNS MEXICO Offshore Onshore Dec 11, 2006 ...

Kitimat poised to help bridge Canadian supply shortfall.(Canadian Markets)
December 11, 2006... The proposed Kitimat LNG receiving terminal and re-gasification complex has something going for it besides the beautiful scenery on the British Columbia coast some 600 miles north of Vancouver. It also is two days or more nearer in sailing...

Qatar Oryx gas-to-liquids plant begins production for export.(World Roundup)
December 11, 2006... Qatar's first gas-to-liquids plant, Oryx GTL, will start deliveries by the first quarter of 2007, Chris Turner, general manager for Oryx GTL, told reporters on the sidelines of the Gastech 2006 conference in Abu Dhabi. "Production started...

Canadian price report.
December 11, 2006... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigaioule) --BRITISH COLUMBIA-- Huntingdon/ Kingsgate/ Total Sumas Eastport ...

Gerdes: whatever winter brings, $7-plus gas a certainty in 2007.
December 11, 2006... Note to market players: Quit fretting about gas prices going into a tailspin. If a recent report from The Gerdes Group holds up, prices could average between $7 and $9 for some time to come, despite the possibility that the huge storage surplus...

Gas price report.
December 11, 2006... GAS PRICE REPORT ($/MMBtu--Spot) December 11, 2006 Interstate Intrastate Delivered Delivered Wellhead Wellhead To Pipeline To Utility Bid ...

Natural gas weekly spot prices.
December 18, 2006... Flow Dates: 12/12-12/18 Avg. Avg. Dec. Daily Daily Bid Price Point $/MMBtu Chg. High Low Vol. Deals...

Greens seethe over Senate action partially lifting drilling moratorium.
December 18, 2006... Finishing out the year with a lame-duck session, the House and Senate passed bills that would open some 8 million acres in the Gulf of Mexico to oil and gas development. It's no surprise that environmental and conservation groups were annoyed...

Raymond James: coming two weeks may create bear trap in natural gas.
December 18, 2006... Even as January gas futures sink under the weight of bearish weather and storage fundamentals, Raymond James predicts that gas prices are about to turn around and industry traders should be wary "not to get caught in the gas bear trap, because...

January gas could see $6 handle; cash market poised for takedown.
December 18, 2006... With unseasonably warm temperatures blanketing most of the country this week, fundamental drivers of the January natural gas contract are unquestionably slanted to the downside. Unless hedge funds are able to keep prices elevated, as they did...

Two pipeline projects planned serving Barnett Shale production.
December 18, 2006... Kinder Morgan Energy Partners and Energy Transfer Partners have joined to develop a $1.25 billion, 500-mile pipeline that will be called the Midcontinent Express Pipeline (MEP). With interest in the pipeline up, the developers are holding an...

Agreements signed.(Late news ...)
December 18, 2006... Agreements signed: Williams has signed agreements with seven natural gas shippers to increase natural gas supplies from existing sites in Virginia and Pennsylvania in November 2008 in an effort to meet growing demand in the northern US. In a...

Plant sold.(Late news ...)
December 18, 2006... Plant sold: Allegheny Energy Supply has completed the $23 million sale of its 540-MW Gleason gas-fired generating facility to the Tennessee Valley Authority. The plant is located in Weakley County, Tennessee, and was acquired by Allegheny in...

Additional funding.(Late news ...)
December 18, 2006... Additional funding: The Canadian Environmental Assessment Agency (CEAA) will make an additional C$25,000 (US$21,600) available to help groups and individuals take part in the environmental assessment of the Keltic LNG terminal and wharf project...

Stone Energy quits search for merger; reshaping E & P strategy.
December 18, 2006... Long the talk of mergers and takeovers, Stone Energy last week unveiled a strategic program that drops any talk about looking for a partner and instead concentrates on some of its lower-risk operations. As part of this strategy, Stone...

Intrastate weekly spot prices.
December 18, 2006... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 12/12-12/18 Avg. Avg. Dec. Daily Daily Bid Price Point $/MMBtu Chg. High...

Speakers: LNG imports alone no panacea for Energy woes ahead.
December 18, 2006... The future energy mix for the US will include LNG, but no one should expect it to be the silver bullet needed to solve the country's energy dilemma. "No, it will be a part of our future energy picture," said Deputy Assistant Secretary...

Prices and differentials for major hubs and selected city gates.
December 18, 2006... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES December 18, 2006 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 12/11 12/12 12/13 12/14 12/15 HH-NY ...

Interior settles royalties with five firms over flubbed leases.
December 18, 2006... Attempting to douse the firestorm over controversial oil and gas royalties that are costing the government billions of dollars, the Interior Department last week signed deals with five companies to settle disputes over royalty payments for...