Natural Gas Week articles from December 2008

Natural Gas Week archives from December 2008

Natural gas weekly spot prices.
December 1, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 11/25-12/1 Avg. Avg. Nov. Price Daily Daily Bid Point $/MMBtu Chg. High Low ...

Golden state gets surprisingly cozy with notion of offshore E&P.
December 1, 2008... Long portrayed as the central casting villain in California, the energy industry is suddenly finding itself with a lot of potential suitors. With the lifting of both the congressional and executive bans on offshore drilling, the state is...

Even as gasoline prices sink, NGV math adds up; sales good.
December 1, 2008... Falling gasoline prices and financial market turmoil seem to have marginally slowed down interest in natural gas vehicles (NGVs). However, even in the new economic environment, the case for NGVs is still sound and movement toward NGVs...

NatGas mounts rally, but still in rut until winter plays hand.
December 1, 2008... After a strong December gas expiry, gas futures saw some sharp volatility during an abbreviated week of trading as a large draw in gas stocks clashed with concerns that a deteriorating US economy and intensifying recession will slash demand for...

House climate report suggests controls on range of NatGas uses.
December 1, 2008... National lawmakers report a growing consensus in support of a national cap-and-trade law to rein in greenhouse gas emissions--and as the more precise details are considered, an "economy-wide" system is scoring considerable momentum. In a...

Arctic claim.(Late news ...)
December 1, 2008... Arctic claim: With more than 75% of Greenland's voters saying yes to self-rule, the way has been paved for the island to gain independence from Denmark and lay claim to oil and gas reserves off its shores above the Arctic Circle. A self-rule...

Storm total.(Late news ...)
December 1, 2008... Storm total: In its final damage assessment report on hurricanes Gustav and Ike, the federal Minerals Management Service reports that 60 platforms were destroyed. Another 31 were damaged severely enough to require three to six months to repair...

Acquisition completed.(Late news ...)
December 1, 2008... Acquisition completed: Anchor Drilling Fluids USA has completed the acquisition of Advantage Drilling Fluids. Terms of the transaction were not disclosed. Advantage, based in Longmont, Colorado, is a leading provider of drilling and completion...

Natural gas supply glut may be lurking on horizon for new year.
December 1, 2008... Lower commodity prices, a weak economy and slowing industrial demand are beginning to staunch surging domestic natural gas production. But the reductions in active rigs and capex spending may come too late to prevent a supply glut in 2009. ...

Intrastate weekly spot prices.
December 1, 2008... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 11/25-12/1 Avg. Avg. Nov. Price Daily Daily Bid Point $/MMBtu Chg. High...

Unconventional gas growing fast as share of North American pie.
December 1, 2008... Unconventional natural gas resources could account for 69% of lower-48 production by 2020, up from 48% last year, according to a new report by consulting group ICF International. Tight gas, coalbed methane and shale gas will be major...

Prices and differentials for major hubs and selected city gates.
December 1, 2008... SELECTED DAILY DIFFERENTIALS Differential 11/24 11/25 11/26 HH-NY +1.72 +1.15 +0.85 HH-Chicago +0.08 -0.02 -0.38 AECO-CHIC -0.23 +0.79 -0.49 AECO-PG&E -0.61 +0.48 -0.40

Marcellus Shale play comes with unique challenges, opportunities.
December 1, 2008... The Marcellus Shale may be gold for the state of Pennsylvania, but the developing gas play has its own set of unique headaches and concerns. In addition to the sliding price of gas on global markets, there are environmental and...

Composite spot wellhead price.
December 1, 2008... COMPOSITE SPOT WELLHEAD PRICE January 2004 to Present ($/MMBtu) Year Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. 2008 7.83 8.30 9.03 9.86 10.47 11.97 10.81 7.83 6.75 2007 6.25 7.79 6.52 7.07 7.34...

Range Resources emerging as a key player in Marcellus Shale.
December 1, 2008... Range Resources aims to make a big name for itself in the Appalachian Basin's Marcellus Shale play, pushing forward with plans to expand infrastructure and production despite the credit crisis and the steep drop in commodity prices. The...

Natural gas futures.
December 1, 2008... NATURAL GAS FUTURES Trading Dates: November 24-November 26 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last...

Upcoming global LNG supplies could satisfy US market demand.
December 1, 2008... The US is importing less than half the volume of LNG this year than it did in 2008, with LNG cargoes being diverted to pricier markets, particularly in Asia and the Pacific Rim, where demand has risen sharply. But in the medium- and...

North American weekly gas storage.
December 1, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Nov. Nov. Yr. 21 14 Weekly Year Ago 5-year 5-year Region Week Week Change Ago Change Average Change US ...

Natural gas bidweek prices.
December 1, 2008... NATURAL GAS BIDWEEK PRICES Flow Dates: 12/1-12/31 December Chg. Prev. Price Avg. from Bid- Point $/MMBtu Prev. High Low ...

Strong Q3 earnings tarnished by capex cuts, tight credit market.
December 1, 2008... Record high energy prices that peaked in July lifted earnings across the board during the third quarter. Many companies saw profits soar in the quarter, despite hurricane losses incurred in the Gulf of Mexico. Every firms in the energy...

NGW's monthly weighted averages.
December 1, 2008... NGW'S MONTHLY WEIGHTED AVERAGES $/MMBtu Price Point Nov-08 Oct-08 Sep-08 Aug-08 Jul-08 Jun-08 Gulf Coast ANR SE 6.59 6.73 7.56 8.24 11.20 12.59 Col. Gulf - Erath 6.57...

APPA outlines pitfalls ahead for generators.(CURRENT)
December 1, 2008... A consortium of more than 2,000 smaller publicly owned utilities comprising the American Public Power Association (APPA) recently expressed concerns about incorporating renewable technology to the grid's highest court of reliability, the North...

Co-ops find power in banding together.(CURRENT)
December 1, 2008... The National Renewables Cooperative Organization (NRCO), formed earlier this year by power supply cooperatives located throughout the country, has taken action to tackle the responsibilities of an impending carbon tax and renewables mandates....

Pennsylvania's Peco cuts NatGas rates; seeking alternative credits.(CURRENT)
December 1, 2008... Exelon utility subsidiary Peco has lowered its natural gas rate by 18.8 % beginning this month. Combined with another decrease three months ago, the Kennett Square, Pennsylvania-based utility says its natural gas rate will be almost the same as...

Litigation filed against new gen nuke.(CURRENT)
December 1, 2008... Four public advocacy groups recently filed motions with the US Nuclear Regulatory Commission, opposing EDF's partnership in a proposed third nuclear reactor at Constellation Energy's existing Calvert Cliffs plant in Lusby, Maryland--and seeking...

Spot electricity trading.(CURRENT)
December 1, 2008... SPOT ELECTRICITY TRADING Trading Dates: November 24-November 26, 2008 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT...

California funding water conservation.(CURRENT)
December 1, 2008... The California Public Utilities Commission (CPUC) last week allocated $1.33 million for pilot energy efficiency programs between the state's investor-owned utilities and CPUC-regulated water companies. The CPUC's Water Action Plan calls...

Wind Power to mitigate prolonged drought.(CURRENT)
December 1, 2008... The Upper Great Plains region of the Western Area Power Administration (WAPA) has signed a three-year agreement to purchase the output, capacity and green tags from a 50-MW wind farm owned by Basin Electric Power Cooperative. The contract,...

Comparative fuel prices.(CURRENT)
December 1, 2008... COMPARATIVE FUEL PRICES (Cash Market) December 1, 2008 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $78.00/ton $7.16/MMBtu ...

Parish governments mulling local regs for Haynesvillle development.(Regional Market Roundup)
December 1, 2008... The governing bodies of the Northwest Louisiana parishes of Bossier, Caddo, DeSoto and Webster are studying a unified series of regulations to control development of the region's Haynesville Shale play. The rules, which would include water...

Baker Hughes rig count.(Regional Market Roundup)
December 1, 2008... BAKER HUGHES RIG COUNT Week Ended Nov. 26 Rotary Rigs Current Week Previous Week Year Ago Total US 1,866 1,941 1,823 Land 1,783 ...

Gas price trends.(Regional Market Roundup)
December 1, 2008... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW MTNS MEXICO South North Dec 1, 2008 Inter (well) -- -- 4.47 4.67...

Low gas, oil prices hit Alberta finances; economy still strong.(Canadian Markets)
December 1, 2008... Canada reportedly has the strongest banking system in a world suffering from the worst financial crisis in almost 80 years, and its overall economy is not doing all that bad, compared to that of any number of other nations. Nevertheless, that...

Sakhalin-2 train 1 starting LNG export; Japan cargo in February.(World Roundup)
December 1, 2008... The Gazprom-led Sakhalin-2 project plans to start loading its first LNG tanker on Feb. 19, while year-round oil shipments should begin in December, Russia's Itar-Tass news agency reported last week. The LNG tanker is destined for Japan. ...

Qatar offering new gas tracks for E&P.(World Roundup)
December 1, 2008... Qatar has lined up more than 10 big international firms to bid for Block A, the latest in a string of four newly created gas exploration tracts to go on offer. The geological target is the deep pre-Khuff reservoir, which lies at depths of...

Shell, state PetroChina ink LNG deal.(World Roundup)
December 1, 2008... State giant PetroChina has inked a final agreement to buy up to 270 million cubic feet per day of LNG from Royal Dutch Shell, double the volumes originally agreed. Shell will sell the LNG under a 20-year term contract, with volumes coming...

Canadian price report.(World Roundup)
December 1, 2008... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas Eastport...

DB: National Infrastructure Bank essential for a Greener tomorrow.
December 1, 2008... One of the key initiatives of the incoming Obama administration is the launching of an economic stimulus plan to save or create 2.5 million jobs. And in its wake, it could transform how power is produced and consumed in the US. In the...

Natural gas weekly spot prices.
December 8, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 12/2-12/8 Avg. Avg. Dec. Price Daily Daily Bid Point $/MMBtu Chg. High Low Vol....

NatGas, power marketers worry about customers ability to pay.
December 8, 2008... In the midst of the financial turmoil in the US, a potential nightmare is brewing for natural gas and electricity providers who provide massive quantities of supply to national companies that are on the verge of bankruptcy. Recently,...

Greening Ohio: landfill gas to fuel NGVs on trek across state.
December 8, 2008... Ohio's Route 71 highway runs diagonally across the state from Cleveland in the northeast, through Columbus, to Cincinnati in the southwest. The idea is to make Route 71 into a "biomethane corridor" that will support natural gas vehicles--fleets...

NatGas collapses to 15-month low amid struggling economy.
December 8, 2008... Nymex January Natural gas futures fell to their lowest level in more than 15 months, as a slowing economy cut demand from utilities and industrial users. Collapsing crude oil prices and tumbling equities also helped squash gas prices....

Cash-strapped Chesapeake seeking ways to bolster its balance sheet.
December 8, 2008... Cash-strapped Chesapeake Energy hopes to tap equity markets for new funding, supplementing the billions it has already raised in joint venture deals and asset sales since natural gas prices tumbled from their record highs in July. ...

Mackenzie delayed.(Late news ...)
December 8, 2008... Mackenzie delayed: The Joint Review Panel, a Canadian regulatory group studying the proposed $12.5-billion Mackenzie Valley Pipeline, has said it will not have a final report on the project until December 2009. The proposed pipeline will ship...

AGA priorities.(Late news ...)
December 8, 2008... AGA Priorities: The American Gas Association (AGA) is "developing a list as we speak" on how jobs in the natural gas sector can play a role in President-elect Obama's proposed economic stimulus package, AGA leaders told reporters Friday. The...

Marcellus Shale producers face a rising tide of new regulations.
December 8, 2008... Natural gas producers in the Marcellus Shale region are beginning to see a strong regulatory environment emerge in New York and Pennsylvania, with a growing number of local, state and federal officials stirred over the high-pressure process...

Intrastate weekly spot prices.
December 8, 2008... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 12/2-12/8 Avg. Avg. Dec. Price Daily Daily Bid Point $/MMBtu Chg. High...

Obama slides oil and natural gas profits tax off national agenda.
December 8, 2008... The idea of a windfall profits tax on oil and natural gas companies was a centerpiece of President-elect Barack Obama's platform throughout the presidential campaign. Recently, however, as most energy prices have fallen, there have been growing...

Prices and differentials for major hubs and selected city gates.
December 8, 2008... SELECTED DAILY DIFFERENTIALS Differential 12/1 12/2 12/3 12/4 12/5 HH-NY +1.28 +0.97 +0.86 +1.48 +2.01 HH-Chicago -0.08 -0.02 +0.14 +0.06 +0.06 AECO-CHIC +0.75 -0.15 -0.11 -0.19 -0.24 AECO-PG&E...

Talisman capex cuts won't hit Marcellus, Montney shale plays.
December 8, 2008... Canadian upstream firm Talisman Energy anticipates "significant" reductions to its capital expenditure program next year, according to the company's chief financial officer. However, the company remains committed to its North American...

North American weekly gas storage.
December 8, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Nov. Nov. Yr. 28 21 Weekly Year Ago 5-year 5-year Region Week Week Change Ago Change Average Change US ...

Deepwater coral study in Gulf could impact future operations.(Report)
December 8, 2008... At first glance, it doesn't seem like much--a federally funded study of deepwater coral in the Gulf of Mexico. But the outcome of the $3.7 million, four-year study could mean the difference between blocks being put up for lease, or not, in...

Natural gas futures.
December 8, 2008... NATURAL GAS FUTURES Trading Dates: December 1-December 5 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume ...

Atlas Energy develops two-stage frac process for Marcellus play.
December 8, 2008... Moon Township, Pennsylvania-based Atlas Energy Resources has come up with a new way to help unlock unconventional gas in the Marcellus Shale play. Atlas Energy President Richard D. Weber said that during the past several weeks, the company...

Ercot reconfigures its nodal market launch.(CURRENT)
December 8, 2008... Nearly five years after state regulators mandated that the Electric Reliability Council of Texas (Ercot) develop a nodal wholesale market design, the grid operator sees its goal in sight, but it's further away and it will cost more to get...

AEP proposes transmission project.(CURRENT)
December 8, 2008... A multi-state, extra-high voltage transmission project being proposed across the Upper Midwest to foster renewable energy may very well help develop more natural gas-fueled plants. Renewable sources of power are politically desirable now, but...

EDF re-enters fray for JV partner Constellation's nuclear business.(CURRENT)
December 8, 2008... In the latest turn of the roller coaster ride involving Constellation Energy's nuclear business, French nuclear utility EDF is back in the game, having submitted a $4.5 billion bid for 50% ownership. EDF noted that its offer represented...

Spot electricity trading.(CURRENT)
December 8, 2008... SPOT ELECTRICITY TRADING Trading Dates: December 1-December 5, 2008 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

AEP's Cook Unit 1 remains offline.(CURRENT)
December 8, 2008... American Electric Power's long-embattled Unit 1 at its D.C. Cook Nuclear Plant, down since Sep. 20, will be offline for repairs and refurbishing much longer than was previously expected. Standard & Poor's, however, said its ratings and outlook...

Duke Energy trying to get rules changed.(CURRENT)
December 8, 2008... Duke Energy is trying to change legislative requirements for its utility subsidiary in the Carolinas so that it can be reimbursed for its expenses on a more timely basis. A benefit for ratepayers, the company claims, will be less of a...

Comparative fuel prices.(CURRENT)
December 8, 2008... COMPARATIVE FUEL PRICES (Cash Market) December 8, 2008 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $67.00/ton $6.77/MMBtu ...

Decline in Texas Petro Index may signal end of state's buffer.(Regional Market Roundup)
December 8, 2008... The Texas Petro Index declined in October from the record score achieved a month earlier, a trend reversal that could signal the beginning of the end of a sustained expansion of state oil and gas exploration and production activity that has...

Baker Hughes rig count.(Regional Market Roundup)
December 8, 2008... BAKER HUGHES RIG COUNT Week Ended Dec. 5 Rotary Rigs Current Week Previous Week Year Ago Total US 1,852 1,866 1,828 Land 1,771 ...

Gas price trends.(Regional Market Roundup)
December 8, 2008... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO South North Dec 8, 2008 Inter (well) -- -- 3.65 4.94 ...

Political squabbling adds new pressure to oil and gas industry.(Canadian Markets)
December 8, 2008... The news out of the Western Canadian Sedimentary Basin isn't very encouraging if higher prices are what producers seek in their Christmas stockings. Storage is full, reports FirstEnergy Capital analyst Martin King, standing at a record 480.7...

French environmental officials say 'no' to 4Gas LNG project.(World Roundup)
December 8, 2008... Citing environmental reasons, French officials have rejected a project by 4Gas to build an LNG receiving terminal in Verdon-sur-Mer. French environmental officials said the project was dismissed notably because parts of the terminal would...

IPR well sets record in Alamein Basin.(World Roundup)
December 8, 2008... Irving, Texas-based IPR gauged a Jurassic oil and gas-condensate discovery at the second deepest well in Egypt's Western Desert. At 17,000 feet, the Zain-1X is the deepest in the Alamein Basin and is about 130 kilometers southwest of...

Canadian price report.(World Roundup)
December 8, 2008... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas ...

Hydrogen cars no silver bullet, but could prove a platinum one.
December 8, 2008... "We can truly replace the gasoline vehicles we drive today with this technology," said Catherine Dunwoody, executive director of the California Fuel Cell Partnership in a presentation for the National Hydrogen Association (NHA) entitled...

Natural gas weekly spot prices.
December 22, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 12/16-12/22 Avg. Avg. Dec. Price Daily Daily Bid Point $/MMBtu Chg. High Low ...

Obama picks reveal new emphasis on science, pragmatic approach.
December 22, 2008... President-elect Barack Obama's cabinet selections announced last week shed new light on the incoming administration's priorities when it comes to energy and climate change, including the role of natural gas development in US energy policy. ...

Final Colorado oil, gas rules target Piceance Basin concerns.
December 22, 2008... Following months of planning and discussions, Colorado has adopted a set of regulations that are expected to radically alter the process in which energy companies seek permits to drill and operate natural gas wells in the state. If the...

La. lease sale gathers $1.4MM; LOGA head Says times are scary.
December 22, 2008... The Louisiana Mineral Board held its December lease sale and collected a little more than $1.4 million--a sharp contrast to the heady collections of almost $93 million taken during the summer amid a spending spree to gather Haynesville Shale...

Owens Corning moves to support NatGas-heavy Pickens Energy Plan.
December 22, 2008... Texas billionaire T. Boone Pickens has picked up an industrial-sized ally for his Pickens Energy Plan in an endorsement from Owens Corning. The Pickens Plan calls for the development of a huge line of windfarms stretching from North Dakota...

Drilling postponed.(Late news ...)
December 22, 2008... Drilling postponed: Shell said Friday it will not drill in Alaska's Beaufort Sea in 2009 after a court ruling in November that federal officials failed to address environmental impacts when they granted the company a permit. Additionally, Shell...

Sale held.(Late news ...)
December 22, 2008... Sale held: Despite the threat of an injunction that was endorsed by actor Robert Redford, the US Bureau of Land Management offered 132 oil and gas parcels totaling 163,935 acres at its Friday lease sale held in Salt Lake City. The sale included...

Global capex.(Late news ...)
December 22, 2008... Global capex: Analysts at Barclays Capital said Friday that global spending on oil and gas exploration and production will shrink 12% to $400 billion in 2009 as the steep slide in energy prices and tight credit markets reverse a six-year trend...

Oil plunging to five-year lows fails to seriously drag down gas.
December 22, 2008... In spite of crude oil prices plummeting to lows not seen since April 2004, Nymex January natural gas futures showed a bit of resilience last week. However, gas prices are being underpinned mainly by the recent bout of cold weather and once the...

Intrastate weekly spot prices.
December 22, 2008... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 12/16-12/22 Avg. Avg. Dec. Price Daily Daily Bid Point $/MMBtu Chg. High...

EIA: gas output seen growing; energy demand flatter into 2030.
December 22, 2008... Relatively high natural gas prices and rising demand will keep domestic gas production strong for the next two decades. Natural gas growth in emerging shale plays could likely make up for losses that will result from declining imports and...

Prices and differentials for major hubs and selected city gates.
December 22, 2008... SELECTED DAILY DIFFERENTIALS Differential 12/15 12/16 12/17 12/18 12/19 HH-NY +0.93 +0.98 +1.03 +1.97 +6.23 HH-Chicago +0.38 +0.35 +0.31 +0.24 +0.50 AECO-CHIC -0.33 -0.24 -0.11 -0.10 +0.08 AECO-PG&E...

EOG chief encourages more uses for natural gas in US energy mix.
December 22, 2008... Now that new horizontal drilling and hydraulic fracturing technology has unlocked vast quantities of shale gas, the US should consider using the fuel more widely in a variety of industries, such as transportation and power generation, EOG...

North American weekly gas storage.
December 22, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Dec. Dec. Yr. 12 5 Weekly Year Ago 5-year 5-year Region Week Week Change Ago Change Average Change US ...

Natural gas futures.
December 22, 2008... NATURAL GAS FUTURES Trading Dates: December 15 - December 19 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last...