Natural Gas Week articles from February 2007

Natural Gas Week archives from February 2007

Natural gas weekly spot prices.
February 5, 2007... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 1/30-2/5 Avg. Avg. Feb. Price Daily Daily Bid Point $/MMBtu Chg....

New OTC regulation bill sparks reporting debate; ICE on board.
February 5, 2007... The idea of governmental regulation of now unregulated over-the-counter (OTC) energy derivatives markets has been bandied about for years. But now it's no longer just talk as a new bill before Congress would impose such oversight, while making...

North American LNG projects face rocky week from Mexico to Mass.
February 5, 2007... The North American LNG industry continued to have its share of rough weather, with a project in the US Northeast coming under new legislative attack and another on Mexico's Pacific Coast facing questions about its impact on endangered species....

Winter NatGas rally is likely to continue as cold wave intensifies.
February 5, 2007... After a bullish start for natural gas and the rest of the energy complex, March natural gas futures slid into negative territory late last week. However, with intensely cold weather blanketing most of the country east of the Rockies, it's...

FERC Outlook bleak for Alaska gas pipeline; cites political imbroglio.
February 5, 2007... According to the Federal Energy Regulatory Commission, the prospect of an Alaska gas pipeline has slipped considerably in the past year. In its third semi-annual report on the progress made in licensing and construction of the Alaska...

Sefttlement reached.(Late news)
February 5, 2007... Settlement reached: El Paso said Friday it has reached a settlement with Spectra Energy to resolve outstanding litigation brought by Citrus Trading against Spectra LNG Sales, formerly Duke Energy LNG Sales, for $100 million. El Paso's...

Contract landed.(Late news)
February 5, 2007... Contract landed: Key Energy has landed a 22-month, $45.8 million contract by Mexico's state energy monopoly Pemex to provide field production solutions and well workover services. Under the terms of the contract, Texas-based Key will initially...

Study funded.(Late news)
February 5, 2007... Study funded: The US Department of the Interior's Minerals Management Service has awarded a contract to IMV Projects Atlantic of St. John's, Newfoundland and Labrador to study the types of technology needed for oil and gas exploration and...

Independence Hub set into place; Gulf production could jump Bcf/d.
February 5, 2007... In the second half of this year, another 1 billion cubic feet of natural gas per day will be added into the daily total from the Gulf of Mexico. That huge jump in production will be thanks to a behemoth now at home in the Gulf. That giant...

Exco buys Oklahoma, South Texas producing assets from Anadarko.
February 5, 2007... Dallas-based Exco Resources has struck another deal to acquire assets from Anadarko Petroleum, this time agreeing to pay $860 million for properties in Oklahoma and South Texas. The latest deal with Anadarko is part of a rapid...

Intrastate weekly spot prices.
February 5, 2007... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 1/30-2/5 Avg. Avg. Feb. Price Daily Daily Bid Point $/MMBtu Chg. High Low...

Energy alliance: Texas plateau hit, but not signal of price bust.
February 5, 2007... After 49 months of continued growth, energy production in Texas reached a plateau in October. In the past, that heralded two major busts in the energy industry--one in 1997 and the second in 2001. "I don't see that happening this time,"...

Prices and differentials for major hubs and selected city gates.
February 5, 2007... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES February 5, 2007 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 1/29 1/30 1/31 2/1 2/2 HH-NY ...

Bentek: freeze-offs, maintenance taking toll on NatGas production.
February 5, 2007... With well freeze-offs in the Rocky Mountains and Midcontinent and Gulf of Mexico shut-ins approaching 3 billion cubic feet of gas per day, last week's relatively moderate storage withdrawals caught many market-watchers by surprise, especially...

Composite spot wellhead price.
February 5, 2007... COMPOSITE SPOT WELLHEAD PRICE January 2003 to Present ($/MMBtu) Year Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. 2007 6.25 2006 8.20 7.30 6.47 6.61 5.93 6.04 5.93 7.11 4.60 5.47 6.78 2005...

Composite spot delivered-to-pipeline price.
February 5, 2007... COMPOSITE SPOT DELIVERED-TO-PIPELINE PRICE January 2003 to Present ($/MMBtu) Year Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. 2007 6.68 2006 8.28 7.55 6.69 6.77 5.99 6.14 6.15 7.28 4.91 5.69...

Mulva: unconventional sources, renewables spell energy security.
February 5, 2007... With a message about America's energy future, ConocoPhillips Chief Executive James Mulva may have been preaching to the choir this week during a presentation at an America Petroleum Institute-sponsored luncheon in Houston. But it didn't...

Natural gas futures.
February 5, 2007... NATURAL GAS FUTURES Trading Dates: January 29-February 2,2007 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume ...

Frigid west puts Rockies express pipeline in hot water with FERC.
February 5, 2007... Construction on the Rockies Express Pipeline has been beset by missteps, evoking stern warnings from the Federal Energy Regulatory Commission., including a rebuke late last month from Office of Energy Projects (OEP) director Mark Robinson. ...

North American weekly gas storage.
February 5, 2007... NORTH AMERICAN WEEKLY GAS STORAGE (Billion cubic feet) Jan. 26 Jan. 19 Weekly Year Yr. Ago Region Week Week Change Ago Change US East 1465 1585...

Natural gas bidweek prices.
February 5, 2007... February Chg. Prev. Price Avg. from Bid- Point $/MMBtu Prev. High Low Vol. Deals Week GULF COAST ANR SE...

Citygate prices.
February 5, 2007... CITYGATE PRICES February Chg. Prev. Price Avg. from Bid- Point $/MMBtu Prev. High Low Vol. Deals Week Austin, Tx. ...

Petsec Energy plans onshore move with Louisiana Moonshine Project.
February 5, 2007... Australian independent Petsec Energy is on the verge of starting its largest onshore oil and gas drilling project since the company began work in the US more than 12 years ago. Executive Chairman Terry Fern said the company is going...

NGW's monthly weighted averages.
February 5, 2007... NGW'S MONTHLY WEIGHTED AVERAGES S/MMBtu Price Point Jan-07 Dec-06 Nov-06 Oct-06 Sep-06 Gulf Coast ANR SE 6.22 6.53 7.32 6.19 4.65 Col. Gulf--Erath 6.37 6.67 7.32 5.46 ...

Wind storage could address Reliability issues.(CURRENT)
February 5, 2007... Murphy's Law postulates that when the plumber arrives, the mysterious leak has stopped--providing no evidence. And when the IT tech comes to your cubicle, your error messages cannot be summoned. And so goes the highest law of wind power: On...

Terrorism security measure under fire.(CURRENT)
February 5, 2007... Commercial nuclear plant operators in the US won't be required to take additional measures to defend themselves against an aerial attack. The Nuclear Regulatory Commission, in its final rule on security regulations protecting nukes, decided...

Despite Devastation, industry changes, Entergy Soldiers on.(CURRENT)
February 5, 2007... New Orleans-based Entergy reported that its fourth quarter profit nearly tripled, from $90.2 million a year ago, to $268.3 million. The company's utility subsidiary, Entergy-New Orleans, filed for bankruptcy the month after Hurricane...

TransAlta mine closure leads to loss.(CURRENT)
February 5, 2007... Calgary-based TransAlta, a power generator and marketer in North America and Australia, reported a loss in the fourth quarter, mainly from charges for its Centralia mine closure in Washington state and lost opportunity costs from the repairs to...

Spot electricity trading.(CURRENT)
February 5, 2007... SPOT ELECTRICITY TRADING Trading Dates: January 29-February 2, 2007 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

DOE funds consortia on nuke waste site.(CURRENT)
February 5, 2007... The Department of Energy will devote $10.4 million for 11 commercial and public consortia selected last fall to conduct detailed siting studies for integrated spent fuel recycling facilities. The award recipients--six of whom are owned and...

Dynegy divests Louisiana peaking plant.(CURRENT)
February 5, 2007... Dynegy will sell a natural-gas fired plant in Sulphur, Louisiana, to Entergy Gulf States (EGS) for about $57 million in cash. The Calcasieu peaking plant generates up to 351 MW in winter and 322 MW in summer. Its sale is part of the...

Comparative fuel prices.(CURRENT)
February 5, 2007... COMPARATIVE FUEL PRICES (Cash Market) February 5, 2007 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $40.25/ton $8.30/MMBtu $1.68/MMBtu EAST...

BP Unveils $2.4 B Spending plan for San Juan Basin CBM drilling.(Regional Market Roundup)
February 5, 2007... BP plans to spend up to $2.4 billion over the next 13 years to increase its coalbed methane natural gas production in the San Juan Basin in southwestern Colorado. The company said the project will raise its ultimate gas recovery from the basin...

Baker Hughes rig count.(Regional Market Roundup)
February 5, 2007... BAKER HUGHES RIG COUNT Week Ended Feb. 2 Rotary Rigs Current Previous Year Week Week Ago Total US 1,714 1,699 1,513 Land ...

GAS price trends.(Regional Market Roundup)
February 5, 2007... GAS PRICE TRENDS ($/MMBtu) TEXAS CALIFORNIA ROCKY NEW Gulf Coast Gulf Coast South North MTNS MEXICO Offshore Onshore Feb 5, 2007 ...

New Brunswick Vies for place as hub for regional energy industry.(Canadian Markets)
February 5, 2007... Of Canada's 12 provinces, only Prince Edward Island and the tiny Hudson Bay enclave of Nunavut would rank lower than New Brunswick as an oil and gas center. The recently elected Liberal government wants to change that perception by turning the...

Chavez granted decree powers; leader eyeing NatGas industry.(World Roundup)
February 5, 2007... Venezuela's National Assembly granted special powers to President Hugo Chavez last week that will allow him to rule by decree for 18 months. The special powers are part of the president's plan to deepen his leftist revolution through a series...

Canadian price report.(World Roundup)
February 5, 2007... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas Eastport ...

February collapse, March gains paving volatile road to spring.
February 5, 2007... What a difference a day makes. Last Monday, the February contract swoons as it rolls off the board down 25.8 cents at $6.917/MMBtu and on Tuesday, the newly minted March prompt-month contract soars 80.3 cents to close at 7.740, and hits a...

Gas price report.
February 5, 2007... GAS PRICE REPORT ($/MMBtu--Spot) February 5, 2007 Interstate Intrastate Delivered Delivered Wellhead Wellhead To Pipeline To Utility Bid...

Natural gas weekly spot prices.
February 12, 2007... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 2/6-2/12 Avg. Avg. Feb. Price Daily Daily Bid Point $/MMBtu Chg....

Electronic trading surge could create Nymex floor "ghost town".
February 12, 2007... Latest data from the New York Mercantile Exchange showing soaring popularity in electronic trading also foreshadows a grim reality that the venerable 134-year-old outcry format is fast losing viability and could be extinct sooner than most...

Blame Enron: ex-energy merchants still mired in an asset reshuffling.
February 12, 2007... Five years after Enron's demise, assets of the former energy merchant sector remain actively traded properties as the companies continue reforming their identities. Enron made "convergence," the concept of offering a full range of energy...

200+ redux: market psychology may swing with record drawdown.
February 12, 2007... If this week's inventory report doesn't break all-time records it will be close, leaving little doubt that data for the week ended Feb. 9 could be a primary driver for natural gas futures prices for some time to come. [GRAPHIC OMITTED] ...

Bear Head mothballed, while US LNG projects stay on defensive.
February 12, 2007... Security issues and land use were the key themes swirling around this week's battle regarding the US LNG industry and its attempt to get new projects licensed and out of the starting gates. And in a late development, the demise of...

Et tu, Exxon.(Late news)
February 12, 2007... Et tu, Exxon: Officials with Exxon Mobil told reporters that the supermajor is no longer questioning whether global warming is real. Exxon's Vice President of Public Affairs Kenneth Cohen said the company is now trying to position itself as an...

Trading begins.(Late news)
February 12, 2007... Trading begins: Trading began Friday in units of Targa Resources Partners, a carve-out of midstream natural gas operator Targa Resources. The new master limited partnership is offering 16.8 million units at an initial price of $21/unit, with an...

Petrobras begins production at Gulf site; Eyes deepwater work.
February 12, 2007... Petrobras America's Cottonwood Project will soon be pulling double duty--first as part of the revenue stream for the company and secondly as a training platform for the company's personnel and technology as it eyes the lucrative deepwater Gulf...

Intrastate weekly spot prices.
February 12, 2007... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 2/6-2/12 Avg. Avg. Feb. Price Daily Daily Bid Point $/MMBtu Chg. High...

Cera study: NatGas E & P efforts reaping 'Diminishing Returns'.
February 12, 2007... Despite the high price of natural gas in recent years, "higher costs are undermining the economics of an increasing number of wells" in North America, according to a joint study by Cambridge Energy Research Associates (Cera) and IHS Inc....

Prices and differentials for major hubs and selected city gates.
February 12, 2007... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES November 27, 2006 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 2/5 2/6 2/7 2/8 2/9 HH-NY ...

Merger plans would unite biggest players in gas compression market.
February 12, 2007... Hanover Compressor and Universal Compression are moving ahead with plans for a merger that will create the dominant player in the natural gas compression business with a market capitalization of about $3.8 billion. However, Deutsche Bank...

Increasing ethanol production said bullish for NatGas demand.
February 12, 2007... Always looking for signs of increasing--and bullish--natural gas demand, Raymond James Energy Group (RJEG) turned its attention last week to growing ethanol production. "Natural gas is the fuel of choice for the ethanol industry, and the...

North American weekly gas storage.
February 12, 2007... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Feb. 2 Jan. 26 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1326 ...

Methane lakes, ethane rain fuel dreams of earthbound engineers.
February 12, 2007... Methane lakes and ethane rain are the stuff E & P dreams are made of. The lakes and rain are located on Titan, one of Saturn's many moons. A newly-discovered mountain range on Titan appears to be covered with methane snow. This world...

Natural gas futures.
February 12, 2007... NATURAL GAS FUTURES Trading Dates: February 5 - February 9, 2007 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Thursday Last Volume Last...

Pipeline capacity utilization.
February 12, 2007... PIPELINE CAPACITY UTILIZATION Feb. (2007) Feb. (2006) Location FlowDate Flow Month-to-Date Month-to-Date Transco Zone 6 NY 2/5/2007 1,852,006 1,811,837 1,708,560...

Aquila calls it quits, divests all operations.(CURRENT)
February 12, 2007... Fallout from Enron's spectacular collapse seems to be similar to nuclear waste: Any company that comes in contact with it suffers some degree of damage, possibly even fatal. For Kansas City-based Aquila, the suffering has lasted more than...

Firm to test Texas geothermal potential.(CURRENT)
February 12, 2007... Texas continued its search for new, renewable energy sources last week, awarding its first lease for geothermal energy production to Reno, Nevada-based Ormat Technologies. Texas Land Commissioner Jerry Patterson said the state received...

Bankrupt Calpine sells peaking plant to Puget Sound for $120M.(CURRENT)
February 12, 2007... Seattle-based Puget Sound Energy (PSE) last week received approval from the federal court administering Calpine's bankruptcy proceedings to buy the independent power producer's natural-gas fired Goldendale Generating Facility in southwest...

Spot electricity trading.(CURRENT)
February 12, 2007... SPOT ELECTRICITY TRADING Trading Dates: February 5-February 9, 2007 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Comparative fuel prices.(CURRENT)
February 12, 2007... COMPARATIVE FUEL PRICES (Cash Market) November 12, 2007 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $40.75/ton $8.84/MMBtu $1.70/MMBtu EAST...

Senate energy chair puts CFTC, FERC under spotlight at hearing.(Regional Market Roundup)
February 12, 2007... A key Senate Democratic chairman is seeking answers from federal regulators on the processes and actions taken to ensure there is no market manipulation that could raise natural gas prices for consumers. In letters to Commodity Futures...

Baker Hughes rig count.(Regional Market Roundup)
February 12, 2007... BAKER HUGHES RIG COUNT Week Ended Feb. 9 Rotary Rigs Current Previous Year Week Week Ago Total US 1,731 1,714 1,532 Land ...

Gas price trends.(Regional Market Roundup)
February 12, 2007... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO TEXAS Gulf Coast Gulf Coast South...

NEB issues early Mackenzie gas pipeline construction conditions.(Canadian Markets)
February 12, 2007... Canada's National Energy Board (NEB) is doing what it can to prevent the proposed Mackenzie Gas Project from falling further behind on a schedule that already has been delayed at least three years. The NEB on Tuesday released a set of...

Peru LNG targets Mexico, Chile as markets for Camisea supply.(World Roundup)
February 12, 2007... In the wake of a recent announcement that Peru LNG had taken a giant step forward by signing a firm construction contract for liquefaction and related facilities with Chicago Bridge & Iron (CB & I), Spain's Repsol YPF concedes it still has no...

Canadian price report.(World Roundup)
February 12, 2007... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas Eastport ...

Note to greens: efficiency and renewables alone won't cut it.
February 12, 2007... In late January, the Long Beach Port Commission may have nailed the coffin tight on Sound Energy Solutions' proposed Long Beach LNG terminal with its decision to end the project's environmental review. Whether or not the project will be...

Gas price report.
February 12, 2007... GAS PRICE REPORT ($/MMBtu--Spot) February 12 2007 Interstate Intrastate Delivered Delivered Wellhead Wellhead To Pipeline To Utility Bid ...

Natural gas weekly spot prices.
February 19, 2007... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 2/13-2/19 Avg. Avg. Feb. $/ Daily Daily Bid Price Point MMBtu Chg....

Storage scenarios becoming more critical in bull-bear price struggle.
February 19, 2007... The perennial imbroglio over just where end-of-season storage volumes will land--and what that might imply for gas prices moving forward--has never been more heated. "In the nearly 13 years that I've been trading the gas market, I've never...

Suit puts polar bear health at center stage; could impact E & P.
February 19, 2007... Even without the encroachment of oil and gas exploration, polar bears in the Arctic Circle are facing the possibility of extinction as the effects of global warming shrink critical ice sheets. But as groups fight to have the polar bear...

Bulls push chance for lingering cold as reason to run gas price.
February 19, 2007... Just the possibility of more cold weather in late February or early March is enough to keep natural gas traders on their toes coming back from the long holiday weekend; and even if the cold never materializes, it could still prove a driver for...

Delays pushing price of building Alaska gas pipeline to over $30 B.
February 19, 2007... Energy companies interested in building a natural gas pipeline in Alaska warned state lawmakers last week that continued delays are pushing up the project's price tag. Representatives from Alaska's three largest producers--Exxon Mobil, BP...

Review started.(Late news)
February 19, 2007... Review started: The government of Alberta has started a major review of oil and gas royalties paid to the province by energy companies. Alberta Finance Minister Lyle Oberg said a panel of a half-dozen experts will be seated and will take about...

Sale considered.(Late news)
February 19, 2007... Sale considered: Officials with Pogo Producing have confirmed that the company is looking at several strategic options, including putting the independent up for sale. A company spokesman said other options being considered include selling its...

Reserves reported.(Late news)
February 19, 2007... Reserves reported: El Paso said its 2006 proved natural gas and oil totaled more than 2.6 trillion cubic feet equivalent. The Houston-based company said this figure included 222 billion cubic feet equivalent related to its interest in Four Star...

Report released.(Late news)
February 19, 2007... Report released: Exxon Mobil has added 1.95 billion barrels of oil equivalent to its proved reserves last year, about 350 million barrels more than it produced, according to information released late last week by the company. The company said...

Correction.(Correction notice)
February 19, 2007... In the Feb.12 edition, the week's Canadian composite spot index price and the Canadian spot wellhead price should have read US$7.48/MMBtu and US$6.75/MMBtu, respectively.

Canada officially enters fight against LNG terminals in Maine.
February 19, 2007... Trouble came in waves last week for a pair of proposed LNG terminals in Maine, as Canada officially served notice to the US that the Canadian government will oppose the Downeast LNG and Quoddy Bay projects on both the federal and provincial...

Intrastate weekly spot prices.
February 19, 2007... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 2/13-2/19 Avg. Avg. Feb. Daily Daily Bid Price Point $/MMBtu Chg....

Bodman: LNG plays key role in nation's future energy security.
February 19, 2007... Cooperation among the world's nations and open marketplaces is the surest way to ensure energy security. That was the message Secretary of Energy Samuel Bodman gave to about 2,000 people attending CeraWeek 2007 last week in Houston. During...

Prices and differentials for major hubs and selected city gates.
February 19, 2007... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES February 19, 2007 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 2/12 2/13 2/14 2/15 2/16 HH-NY ...