Natural Gas Week articles from February 2005

Natural Gas Week archives from February 2005

Natural gas weekly spot prices.
February 7, 2005... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 2/1-2/7 Avg. Avg. Feb. Price Daily Daily Bid Point $/MMBtu Chg....

State bill would give Colorado landowners negotiating rights.
February 7, 2005... When it comes to the inherent conflict of having a right to use a property, but not a right to what lies beneath, gas-rich but environmentally sensitive Colorado is ground zero. Around 85% of the Centennial State's property sales involve...

Competitive M&A market pushes reserve values to record levels.
February 7, 2005... The quest for reserve and production growth drove a surge in US upstream merger and acquisition activity last year, stretching deal values to questionable levels in the eyes of some analysts. The value of US acquisitions--involving the...

EIA once again draws skeptics after bearish storage report.
February 7, 2005... If the latest Energy Information Administration storage report goes without revision--a big if in some traders' minds--then natural gas markets are likely to fall under $6/MMBtu through the latter half of winter, given robust storage...

New England balking over FERC citing of KeySpan LNG terminals.
February 7, 2005... New England legislators have turned up the volume on their criticism of the Federal Energy Regulatory Commission over its ongoing attempts to site LNG terminals in the Northeast. Last week, a coalition of Rhode Island legislators formally...

Power project scrapped.(Late news ...)
February 7, 2005... Power project scrapped: The Public Service Enterprise Group's PSEG Power division has stopped the development of its proposed Cross Hudson transmission project because of high costs and other economic uncertainties. PSEG said it has notified...

Plant gets OK.(Late news ...)
February 7, 2005... Plant gets OK: Oregon's Energy Facility Siting Council has given Peoples Energy Resources Power Generation group the OK for its California-Oregon Border Energy facility. The facility is a 1,150-MW gas-fired generation plant located near the...

N[O.sub.x] and S[O.sub.2] now traded.(Late news ...)
February 7, 2005... N[O.sub.x] and S[O.sub.2] now traded: The New York Mercantile Exchange board has approved the trade of nitrogen oxide (N[O.sub.x]) and sulfur dioxide (S[O.sub.2]). S[O.sub.2] prices in spot markets tripled in 2004 and have risen slightly this...

Agreement reached.(Late news ...)
February 7, 2005... Agreement reached: Officials with Calgary-based Stealth Ventures said they have reached an agreement to acquire additional interests in coalbed methane projects in Nova Scotia in the Stellarton and Cumberland basins. No terms of the agreement...

Canadians jostling in wake of East Coast's revenue bonanza.
February 7, 2005... The recent deal hammered out between Canada's federal government and two East Coast provinces, Newfoundland and Nova Scotia, giving them a full 100% of the revenues from offshore drilling has not gone unnoticed in other regions of the country...

Intrastate weekly spot prices.
February 7, 2005... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 2/1-2/7 Avg. Avg. Feb. Daily Daily Bid Price Point $/MMBtu Chg. High Low...

LNG: a new source for NGLs or US processing problem to come.
February 7, 2005... Liquefied natural gas is not your father's natural gas, and not just because it comes in on a boat. North American natural gas is processed to fairly rigid standards to meet pipelines requirements for energy content (Btu), percentage of...

Prices and differentials for major hubs and selected city gates.
February 7, 2005... February 7, 2005 US$/MMBtu, Volume-Weighted [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 1/31 2/1 2/2 2/3 2/4 HH-NY +0.99 +0.98 +0.84 +0.75 +0.62 HH-Chicago -0.10 -0.05...

CFTC files suit against 15 gas traders for false reporting.
February 7, 2005... Fifteen US natural gas traders were accused last week in federal lawsuits of allegedly reporting false prices to industry newsletters, an indication that the government's probe into market manipulation between 2000 and 2002 has broadened to...

Analyst gives energy industry good forecast for next 5 years.
February 7, 2005... Wall Street veteran John Olson said he has seen the signs and for the energy industry, the next five years "are going to be good." Olson, senior vice president and chief investment officer with Sanders Morris Harris, said the current market "is...

Composite spot wellhead price.
February 7, 2005... COMPOSITE SPOT WELLHEAD PRICE January 2000 to Present ($/MMBtu) Year Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. 2005 6.05 - - - - - - - - 2004 5.90 4.79 5.28 5.62 6.17 6.11...

Commissioner: gas prices favor FERC Agenda, better energy bill.
February 7, 2005... Gas prices and volatility have caught the attention of Congress more than the Aug. 14, 2003, blackout, which could help the Federal Regulatory Energy Commission meet its goals this year, according to one FERC commissioner. "Gas prices...

Natural gas futures.
February 7, 2005... NATURAL GAS FUTURES January 31 - February 4, 2005 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume ...

Duke reverses course; overhaul pushes energy merchant in black.
February 7, 2005... Duke Energy is no longer looking up from the pit of fallen merchants as fourth-quarter and yearly earnings released last week elevate the company to a new high. Duke impressively reversed yearly losses of $1.34 billion in 2003 to income of...

Exxon Mobil, shell, most others post strong quarterly earnings.
February 7, 2005... Exxon Mobil said it earned a record $8.42 billion in the fourth quarter and $25.33 billion for all of 2004, as higher prices for oil and natural gas erased a slight decline in production. The world's largest publicly traded oil company just...

North American weekly gas storage.
February 7, 2005... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Jan. 28 Jan. 21 Weekly Year Yr. 5-year 5-year Region Week Week Change Ago Ago Average Change ...

Natural gas bidweek prices.
February 7, 2005... NATURAL GAS BIDWEEK PRICES Flow Dates: 2/1-2/28 Feb. Chg. Prev. Price Avg. from Bid- Point $/MMBtu Prev....

NGW's monthly weighted averages.
February 7, 2005... NGW'S MONTHLY WEIGHTED AVERAGES $/MMBtu Price Point Jan. '05 Dec. '04 Nov. '04 Oct. '04 Sep. '04 Gulf Coast ANR SE 6.09 6.45 5.61 6.08 4.80 Col. Gulf - Erath 6.19...

Majors seeing growth in renewable portfolios.(Current)
February 7, 2005... In the world of oil and gas giants, renewables are more like David to Goliath--minus the sling-shot--with solar the primary focus and wind the second key renewable strategy. Renewables traditionally include wind, solar, biomass, geothermal...

FP&L gets approval for 1,150-MW gas-fired plant at Turkey Point.(CURRENT)
February 7, 2005... Florida Power & Light (FP&L), the utility of FPL Group, gained approvals last week to add more gas-fired generation, seemingly a trend in the Sunshine State, that is indicative of other large gas plants falling under utilities' rate bases (NGW...

Southern launches Florida mercury lab.(CURRENT)
February 7, 2005... Southern Company subsidiary GulfPower could be the first utility in the US to launch a comprehensive Mercury Research Center to study different methods of reducing mercury emissions from power plants. The research center, which will be at...

Spot electricity trading.(CURRENT)
February 7, 2005... SPOT ELECTRICITY TRADING Trading Dates: January 31-February 4, 2005 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Funds go for the green with renewables.(CURRENT)
February 7, 2005... Utilities and oil and gas majors are not the only companies making plays in the renewable energy markets since private equity funds have joined the game. Carlyle/Riverstone has snatched up refining, gas and power assets since at least...

Comparative fuel prices.(CURRENT)
February 7, 2005... COMPARATIVE FUEL PRICES (Cash Market) February 7, 2005 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $57.25/ton $6.59/MMBtu $2.39/MMBtu EAST COAST ...

Gulfstream putting cross-Florida 110-mile addition into service.(Regional Market Roundup)
February 7, 2005... Officials with Gulfstream Natural Gas System said last week that a 110-mile natural gas pipeline extension in Florida has been put into service. Gulfstream Vice President Brad Reese said construction of the 30-inch Phase II pipeline...

Baker hughes rig count.(Regional Market Roundup)
February 7, 2005... [GRAPHIC OMITTED] BAKER HUGHES RIG COUNT Week Ended Feb. 4 Rotary Rigs Current Previous Year Week Week Ago Total US 1,248 1,256 1,117 ...

Gas price trends.(Regional Market Roundup)
February 7, 2005... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO TEXAS Gulf Coast Gulf Coast South...

British Columbia seeing onshore boom, still eying offshore E&P.(Canadian Markets)
February 7, 2005... Although it got off to a much slower start than neighboring Alberta, British Columbia is starting to show significant progress with its burgeoning natural gas industry, thanks to attractive royalty and tax schemes implemented in the early...

Canadian price report.(Canadian Markets)
February 7, 2005... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas ...

Despite ravages of Ivan, 2004 a banner year for Gulf of Mexico.(Canadian Markets)
February 7, 2005... Many will remember 2004 as the Year of Ivan. But Chris Oynes, regional director for the Minerals Management Service's New Orleans office, says when it comes to a lasting legacy, 2004 might better be considered a break-through year for deepwater...

Natural gas weekly spot prices.
February 14, 2005... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 2/8-2/14 Avg. Avg. Feb. Price Daily Daily Bid Point $/MMBtu Chg....

ICAP auctions still a mystery as importance of numbers swells.
February 14, 2005... Since their launch nearly nine months ago, ICAP natural gas and crude oil storage options have successfully drawn the attention of energy traders across the country. But other than providing a way for hedgers and speculators to...

FERC, CFTC defend speculators' interest in Nymex gas trading.
February 14, 2005... A lack of credible market data, rather than speculators, should be held responsible for an increase in volatility in natural gas futures prices, the head of the Federal Energy Regulatory Commission told Congress last week. FERC Chairman...

Bullish-bearish market balance dominates trading for near term.
February 14, 2005... Lethargic gas futures, mixed cash prices and moderate weather blanketing much of the continental US produced a less than stellar performance by the natural gas market last week. However, as a new arctic wave is forecast to bring frigid weather...

TCPL proposes conversion of gas pipeline to crude oil carrier.
February 14, 2005... Is TransCanada PipeLines' (TCPL) proposal to get into the oil pipeline business in competition with Calgary neighbor Enbridge a strategic decision or a response to Enbridge's efforts to get a piece of the planned Alaska natural gas pipeline,...

MMS Gulf Lease Sales.(Late news)
February 14, 2005... MMS Gulf Lease Sales: The Minerals Management Service announced Friday the availability of the Final Notices of Lease Sale 197, an offshore oil and gas lease sale in the Eastern Gulf of Mexico, and Lease Sale 194, an offshore oil and gas lease...

Williams received FERC authorization Friday to construct an expansion on its Transcontinental Gas Pipe Line in New Jersey.(Late news)
February 14, 2005... Williams received FERC authorization Friday to construct an expansion on its Transcontinental Gas Pipe Line in New Jersey. The expansion will provide an additional 105 MMcf/d of firm service to South Jersey Gas, a utility to for more than...

Correction.(Correction Notice)
February 14, 2005... An article published in the Feb. 7 edition of Natural Gas Week incorrectly said that KeySpan LNG is seeking federal approval to build an LNG terminal in Fall River, Massachusetts, as well as proposing a floating LNG terminal in Long Island...

Murkowski applauds recent FERC decisions on Alaskan pipeline.
February 14, 2005... Alaska Gov. Frank Murkowski says he is pleased by recent Federal Energy Regulatory Commission actions pushing ahead the $20 billion Alaskan pipeline to the US lower-48, as well as issuing a final rule outlining how companies can bid for...

Intrastate weekly spot prices.
February 14, 2005... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 2/8-2/14 Avg. Avg. Feb. Price Daily Daily Bid Point $/MMBtu Chg. High Low...

Speakers cite critical, growing shortage of natural gas storage.
February 14, 2005... A lack of storage capacity in the US isn't just for academic discussions or fodder for roundtables at industry conferences. It's a problem that must be addressed sooner rather than later by the energy industry, according to several speakers at...

Prices and differentials for major hubs and selected city gates.
February 14, 2005... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES February 14, 2005 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 2/7 2/8 2/9 2/10 2/11 HH-NY ...

XTO's Simpson says field still open at young Barnett Shale play.
February 14, 2005... XTO Energy Chief Executive Bob Simpson says there are still plenty of opportunities for companies looking to expand in the Barnett Shale gas play in North Texas. The Fort Worth, Texas-based independent producer plans to grow its Barnett...

Pipeline capacity utilization.
February 14, 2005... PIPELINE CAPACITY UTILIZATION Pipeline Point Name Capacity Colorado Interstate Gas Cheyenne 590,000 Columbia Gas Transmission Leach 2,218,000...

Pioneer reports higher earnings, production; rig companies mixed.
February 14, 2005... Pioneer Natural Resources' fourth-quarter net income rose to $102 million (69 cents/share) from $57 million (48 cents/share) in the year-earlier period. Revenues rose 52% to $529 million. Production rose 17% to 191,451 boe/d, reflecting...

Natural gas futures.
February 14, 2005... NATURAL GAS FUTURES Trading Dates: February 7-February 11, 2004 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last...

North American weekly gas storage.
February 14, 2005... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Feb. 4 Jan. 28 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1043 ...

Alternatives attracting attention from majors.(CURRENT)
February 14, 2005... While energy companies will undoubtedly remain faithful to such key conventional energy sources as oil, natural gas and coal, the need to meet growing global energy demand cleanly has created many mistresses. While the newest darling to the...

Problem: Version 0 has zero enforcement.(CURRENT)
February 14, 2005... The US electricity grid resembles a pack of pixie sticks dumped on the floor, and managing its reliability has increased in difficulty as demand grows faster than grid additions. The North American Electric Reliability Council (Nerc), a...

Bush budget would increase DOE funds for clean-Coal technology.(CURRENT)
February 14, 2005... As part of its budget requests, the Bush administration is seeking $759.9 million for the Department of Energy's fossil energy activities, focusing much of the planned expenditures on advances in clean-coal technologies and improvements to...

Study: wind rising in New York market.(CURRENT)
February 14, 2005... A study on wind generation growth in New York found that wind can achieve a 10% market share without major changes to the state's planning system and electric grid. The New York State Energy Research and Development Authority (Nyserda)...

Broker expands OTC trading services.(CURRENT)
February 14, 2005... Evolution Markets, a global brokerage firm, expanded its over-the-counter (OTC) services last week to include North American natural gas and power options, bolstering its growing natural gas and power brokerage group. The new OTC services...

Spot electricity trading.(CURRENT)
February 14, 2005... SPOT ELECTRICITY TRADING Trading Dates: February 7-February 11, 2005 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Comparative fuel prices.(CURRENT)
February 14, 2005... COMPARATIVE FUEL PRICES (Cash Market) February 14, 2005 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $56.75/ton $6.45/MMBtu $2.36/MMBtu EAST...

Bush budget tweaks natural gas incentives, proposes deep cuts.(Regional Market Roundup)
February 14, 2005... President Bush's fiscal 2006 budget would accelerate the issuance of offshore and onshore drilling permits to companies but trade time for money by charging additional user fees for the privilege. The centerpiece of the budget is yet another...

Baker Hughes rig count.(Regional Market Roundup)
February 14, 2005... BAKER HUGHES RIG COUNT Week Ended Feb. 11 Rotary Rigs Current Previous Year Week Week Ago Total US 1,280 1,248 1,111 Land ...

Gas price trends.(Regional Market Roundup)
February 14, 2005... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MINS MEXICO TEXAS Gulf Coast Gulf Coast South...

Having eaten the wildcatters, stodgy trusts turn to drilling.(Canadian Markets)
February 14, 2005... Canada's highflying royalty trusts have virtually gobbled up the country's mid-sized independent oil and gas companies, firms producing between 10,000 and 70,000 boe/d, according to a report issued last week by the Calgary-based Ziff Energy...

Tractebel inks Yemen LNG anchor deal with Total-led LNG venture.(World Roundup)
February 14, 2005... The Total-led Yemen LNG venture has signed a Heads of Agreement with Tractebel for 2.5 million tons per year of LNG. Total spokesman Paul Floren says final sales and purchase agreement will follow once the Yemen government gives its approval....

Qatargas-4 venture set to move forward.(World Roundup)
February 14, 2005... Qatar-based sources indicate that the Mideast Gulf nation will announce by July its intention to go ahead with the Qatargas-4 gas liquefaction train, which could start up around 2010-12. No companies were named as leading contenders to join...

Bolivian hopes fade as pipeline stalls.(World Roundup)
February 14, 2005... After domestic political squabbles cost it potential sales to North America, Bolivia's option to sell to its hefty natural gas reserves to its South American neighbors is starting to recede as well. Reports say the Northeastern Pipeline...

Canadian price report.(World Roundup)
February 14, 2005... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA ALBERTA Huntingdon/ Kingsgate/ Total Sumas ...

EIA slashes natural gas price outlook through rest of winter.
February 14, 2005... US natural gas prices should to see downward pressure through the first half of 2005 due to the likelihood of comfortable storage inventories entering spring, the Energy Information Administration is warning. In its latest short-term...

Gas price report.
February 14, 2005... GAS PRICE REPORT ($/MMBtu--Spot) February 14, 2005 Interstate Interstate Delivered Delivered Wellhead Wellhead To Pipeline To Utility Bid...

Natural gas weekly spot prices.
February 21, 2005... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 2/15-2/21 Avg. Avg. Feb. Price Daily Daily Bid Point $/MMBTU...

Market conundrum: prices set to hit new lows, may already have.
February 21, 2005... At a time when the natural gas market almost invariably moves toward seasonal lows, lack of volatility due to an unusually stubborn equilibrium between the market bears and bulls has some market observers wondering if prices haven't already...

Importers struggling to get top dollar for LNG in US gas market.
February 21, 2005... Even as proposals for LNG terminals continue to proliferate in the US, existing importers are struggling to address challenges posed by LNG in US downstream gas markets designed to accommodate domestic and Canadian pipeline gas. Foremost...

Market stalemate could break as gas storage surplus increases.
February 21, 2005... Growing bearish fundamentals in the natural gas market were offset by bullish crude and heating oil futures last week, freezing market volatility to the chagrin of traders who normally thrive off market fluctuations. [GRAPHIC OMITTED] ...

LNG siting draws fire, FERC's Wood says market will decide.
February 21, 2005... Despite safety concerns and fierce NIMBY opposition in California and coastal communities in the US Northeast, the Federal Energy Regulatory Commission is optimistic that progress will be made this year to pave the way for LNG terminals to get...

LNG terminal gets OK.(Late news ...)
February 21, 2005... LNG terminal gets OK: The US Department of Transportation's Maritime Administration has given final approval for Royal Dutch/Shell's proposed Gulf Landing LNG terminal "subject to certain conditions designed to protect and advance the national...

Reserves replaced.(Late news ...)
February 21, 2005... Reserves replaced: Exxon Mobil said that it had 1.8 billion boe of proved oil and gas reserves at the end of 2004. The company reported that it replaced 112% of production including property sales, and 125% excluding property sales. Production...

Reserves decrease.(Late news ...)
February 21, 2005... Reserves decrease: Toronto-based Imperial Oil Limited reported total year-end 2004 proved reserves of 1,716 million boe, a decrease of 125 million barrels from 2003. This represents a reserve life at current production rates of approximately 15...

Hydrogen station unveiled.(Late news ...)
February 21, 2005... Hydrogen station unveiled: ChevronTexaco Technology Ventures LLC, a subsidiary of ChevronTexaco, unveiled its first Chevron Hydrogen energy station Friday at the Hyundai-Kia America Technical Center in Chino, California. The project is part of...

MMS to propose rule change to encourage ultra-deep drilling.
February 21, 2005... The federal Minerals Management Service is proposing a new incentive program for ultra-deep drilling and is asking for public input on the new plan. An MMS spokesman on Friday said that under the proposed rule, the agency will allow...

Intrastate weekly spot prices.
February 21, 2005... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 2/15-2/21 Avg. Avg. Feb. Price Daily Daily Bid Point $/MMBtu Chg. High...

High commodity prices leaves many companies 'awash in cash'.
February 21, 2005... Current market conditions have created a situation that many business leaders would not have anticipated a decade ago--an excess of cash. "On the strength of $40 and $50 oil and $6 gas, energy companies are awash in cash," said Robert...

Prices and differentials for major hubs and selected city gates.
February 21, 2005... [ILLUSTRATION OMITTED] February 21, 2005 US$/MMBtu, Volume-Weighted SELECTED DAILY DIFFERENTIALS Differential 2/14 2/15 2/16 2/17 2/18 HH-NY +0.50 +0.47 +0.65 +1.05 +0.88 HH-Chicago +0.03 +0.03...

Report: California gas shortage looming unless solutions found.
February 21, 2005... In terms of natural gas use, California is the 10th largest consumer in the world. And a state-sponsored study released this week forecasts the Golden State to become even more dependent on natural gas over the next decade. The California...

North American weekly gas storage.
February 21, 2005... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Feb. 11 Feb. 4 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 984...