Natural Gas Week articles from February 2008

Natural Gas Week archives from February 2008

Natural gas wekly spot prices.
February 4, 2008... NATURAL GAS WEEKLY SPOT PRICES Avg. Avg. Feb. Price Daily Daily Bid Point $/MMBtu Chg. High Low Vol. Deals...

North Louisiana CBM play could someday rival powder River Basin.
February 4, 2008... Known for its oil and natural gas resources, Louisiana may soon add coalbed methane (CBM) to its list of energy reserves with a play stretching across the northern part of the state that several experts say could rival Wyoming's Powder River...

Sage grouse debate enflamed by court ruling, E&P said at risk.
February 4, 2008... Weighing between two and seven pounds, the sage grouse is a timid bird with unusual feathers and a rotund stature that hides when approached. Recent discussions among lawmakers, however, prove the legal controversy behind sage grouse protection...

If March '08 storage end doesn't best 2007 finale, it could be close.
February 4, 2008... With January behind us, the US natural gas industry is beginning to get a clearer picture of where natural gas storage levels are likely to exit the withdrawal season. And while Mother Nature will have the final say, it looks like a close race...

Forecasts blow to natgas bulls; very warm February taking shape.
February 4, 2008... Even though February gas futures clung tightly to the $8 mark up until expiry, market bulls taking on long positions in March gas futures have a new reason for concern, as some meteorologists are looking for a significantly warmer February. ...

Now operational.(Late news ...)
February 4, 2008... Now operational: Wyoming Interstate Company (Wic) has placed its Kanda lateral pipeline and accompanying mainline expansion in service. The 124-mile, 24-inch diameter lateral provides natural gas from the Uintah Basin to Wic's existing mainline...

Open season.(Late news ...)
February 4, 2008... Open season: Spectra Energy Partners is conducting a non-binding open season through Feb. 29 to solicit participation in holding capacity on its East Tennessee Natural Gas pipeline system. The proposed expansion, called the Greenway Project, is...

Divisions bought.(Late news ...)
February 4, 2008... Divisions bought: Pioneer Drilling will buy three Wedge Group production and service divisions for $303 million. The deal includes Wedge Well Services, Wedge Wireline and Wedge Fishing and Rental Services and is expected to close by the end of...

Rex kicks tires on extension to New York citygate at Linden, NJ.
February 4, 2008... First there was construction of Rockies Express West Pipeline from Colorado to Missouri. Then, plans started moving forward for the Rex East arm to Ohio, followed by an open season for a Northeast extension to New Jersey's western border. ...

Appalachian producers vie for attention with booming Marcellus.
February 4, 2008... With interest in Pennsylvania's core Marcellus Shale acreage exploding in recent months, several small and mid-sized independents have been on the road attempting to make the case that there are other areas of the Appalachian Basin that aren't...

Intrastate weekly spot prices.
February 4, 2008... INTRASTATE WEEKLY SPOT PRICES Avg. Avg. Feb. Price Daily Daily Bid Point $/MMBtu Chg. High Low Vol. Deals Week...

Prices and differentials for major hubs and selected city gates.
February 4, 2008... [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 1/28 1/29 1/30 1/31 2/1 HH-NY +0.96 +1.02 +1.44 +0.95 +0.70 HH-Chicago +0.23 +0.23 +0.13 +0.12 +0.10 AECO-CHIC -0.37 +0.63...

Fall River LNG terminal under threat by federal, state bills.
February 4, 2008... Plans for the Weaver's Cove LNG project in Fall River, Massachusetts, could be at risk if one or both of a pair of proposed bills are ultimately passed into law--one under active discussion in the US Senate, another in the Massachusetts state...

Composite spot wellhead price.
February 4, 2008... COMPOSITE SPOT WELLHEAD PRICE January 2004 to Present ($/MMBtu) Year Jan. Feb. Mar. Apr. May Jun. Jul. 2008 7.83 2007 6.25 7.79 6.52 7.07 7.34 7.03 6.03 2006 8.20 7.30 6.47 6.61 5.93 6.04 5.93 2005 6.05...

Little fanfare for NGVs at show; but major NGV advance coming.
February 4, 2008... Nearly every car company at the Washington Auto Show last week was talking up some kind of sexy, green, fuel-efficient option--this despite the fact that most of them couldn't actually build, sell or fuel the cars they were promoting. ...

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

Exxon smashes profit record; firm tops $40 B with fourth qtr.(Financial report)
February 4, 2008... Like a juggernaut, Exxon Mobil posted the largest annual profit by a US company--$40.6 billion--as the world's largest publicly traded energy company benefited from historic prices at year's end. And in doing so, the Irving, Texas-based...

North American weekly gas storage.
February 4, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Jan. 25 Jan. 18 Weekly Year Region Week Week Change Ago US East 1257 1402 -145 1482 West ...

Natural gas bidweek prices.
February 4, 2008... NATURAL GAS BIDWEEK PRICES Flow Dates: 2/1-2/29 February Chg. Price Avg. from Point $/MMBtu High Low Vol. Deals GULF COAST ANR SE ...

NGW's monthly weighted averages.
February 4, 2008... NGW'S MONTHLY WEIGHTED AVERAGES $/MMBtu Price Point Jan-08 Dec-07 Nov-07 Oct-07 Gulf Coast ANR SE 7.87 7.08 7.01 6.59 Col. Gulf - Erath 7.92 7.06...

Southeastern nukes get reprieve from drought.(CURRENT)
February 4, 2008... The current climate could conceivably threaten some nuclear reactors, and that's a literal statement, not a political one. Some say the Southeast's year-long drought, broken briefly by a recent spate of rains, could impact nearly one-fourth...

FutureGen gasification project looks near death as costs spiral.(CURRENT)
February 4, 2008... Five years after Bush unveiled the FutureGen project in a State of the Union Address, efforts to build the world's cleanest coal-burning power plant for $1 billion are all but dead. It wasn't entirely the fact that the US Department of...

Calpine emerges from chapter 11 protection.(CURRENT)
February 4, 2008... Houston-based independent power producer Calpine last week beat its self-imposed deadline to exit bankruptcy by one day. When the company's reorg plan was approved in December by the US Bankruptcy Court, Southern District of New York,...

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

Comparative fuel prices.(CURRENT)
February 4, 2008... COMPARATIVE FUEL PRICES (Cash Market) February 4, 2008 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $75.00/ton $8.39/MMBtu ...

Newfield inks contracts to move Arkoma Basin natgas via new pipe.(Regional Market Roundup)
February 4, 2008... Newfield Exploration has signed two agreements for firm transportation of a combined 250 million cubic feet per day of gas from the Woodford Shale play in the Arkoma Basin of southeastern Oklahoma. The first agreement is for 200 MMcf/d of...

Baker hughes rig count.(Regional Market Roundup)
February 4, 2008... [ILLUSRATION OMITTED] BAKER HUGHES RIG COUNT Week Ended Feb. 1 Rotary Rigs Current Previous Year Week Week Ago Total US 1,763 1,747 1,714...

Gas price trends.(Regional Market Roundup)
February 4, 2008... GAS PRICE TRENDS ROCKY NEW CALIFORNIA MTNS MEXICO South North Feb 4, 2008 Inter (well) -- -- 7.37 7.38 Intra (well) ...

New rex mirrors, contrasts with grandpa of west-east pipes, TCPL.(Canadian Markets)
February 4, 2008... The last time natural gas flow patterns changed as much as they will when the Rockies Express (Rex) pipeline is completed next year was almost a half century ago, when North America's first west-to-east pipeline was constructed. That was...

E. Canadian shale plays taking off; Australian firm targets Quebec.(World Roundup)
February 4, 2008... Australian coalbed methane player Molopo has agreed to acquire 1.85 million acres of land in an emerging shale gas play in the Canadian province of Quebec for $3.2 million. Molopo hopes to prove up a multiple-trillion cubic feet gas...

Indonesia pushing forward with CBM plans.(World Roundup)
February 4, 2008... Indonesia's plans to develop coalbed methane as an energy source are slowly gaining momentum, despite some regulatory hiccups, with the first production sharing contract set to be inked in February. The deal will be signed with a consortium...

Canadian price report.(World Roundup)
February 4, 2008... CANADIAN PRICE REPORT BRITISH COLUMBIA Kingsgate/ Huntingdon/ Total Eastport Sumas Province Border ...

Japan getting closer to shaking off shackles of LNG dependence.(World Roundup)
February 4, 2008... The headline sounded ominous enough: "Japan Mines 'Flammable Ice,' Flirts with Environmental Disaster." But a closer reading revealed a more hopeful side. Japan is poised to unlock the secret of mining methane hydrates, freeing itself...

Natural gas weekly spot prices.
February 11, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 2/5-2/11 Price Point $/MMBtu Chg. High Low GULF COAST ANR SE 7.91 -0.09 8.15 7.52 Col. Gulf-Erath 7.87...

Arkansas, Colorado latest states to consider severance tax hikes.
February 11, 2008... With a number of state legislatures currently in session, debate is growing on how much states should collect from oil and gas production through the tax code. This past fall, Alaska Gov. Sarah Palin led a successful effort to increase oil...

Bush requesting 16% budget hike aiding futures markets watchdog.
February 11, 2008... In order to keep the official watchdog of the US commodity futures markets well fed and on full alert, the Bush administration is proposing a 16% budget increase for the Commodity Futures Trading Commission, which oversees markets whose trading...

NatGas bulls not yet ready to throw in towel on fading winter.
February 11, 2008... Despite the fact that winter is melting faster than snow in spring, gas market bulls aren't quite ready to bring Nymex March gas down from its lofty $8-plus pedestal. [GRAPHIC OMITTED] "The strength we've seen in gas over the past few...

Shell top bidder at protested Chukchi Sea lease sale in Alaska.
February 11, 2008... A federal oil and gas lease sale last week in Alaska's Chukchi Sea brought in a record $2.66 billion, despite the protests of conservation and native groups concerned about the potential impact on the polar bear. The sum of the winning...

Rex-West.(Late news ...)
February 11, 2008... Rex-West: Recent winter storms have delayed the start of full service on the Rockies Express PipelineWest into March, according to a Web site posting. But pipeline partner Kinder Morgan also said the Echo Springs lateral was placed into service...

LNG crews.(Late news ...)
February 11, 2008... LNG crews: Shell International Trading and Shipping Co. said it will begin recruiting US seafarers for the company's growing management portfolio of LNG vessels. Shell recently increased that portfolio in November 2006 when Nakilat Shipping, a...

Traders convicted.(Late news ...)
February 11, 2008... Traders convicted: Three former El Paso natural gas traders were found guilty of reporting false deals to index publishers in order to manipulate gas prices from 2000 to 2002. A US federal court jury convicted James Brooks, Wesley Walton and...

Asking 'why' yields benefit in increasing US pipeline efficiency.
February 11, 2008... Sometimes simply asking why can have profound repercussions. Just ask Mike McGonagill. The chief operating officer for Alliance Pipeline, McGonagill asked that simple question while looking at the operating parameters for natural gas...

Intrastate weekly spot prices.
February 11, 2008... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 2/5-2/11 Avg. Avg. Feb. Price Daily Daily Bid Point $/MMBtu Chg. High Low...

Researcher finds frequency to produce NatGas from junk, waste.
February 11, 2008... Imagine a machine that can take in 10 tons of waste from junked automobiles--tires, plastic, vinyl inside pieces and the like--and then produce enough natural gas to produce 17 million Btus of energy. Sound like something out of a sci-fi...

Prices and differentials for major hubs and selected city gates.
February 11, 2008... SELECTED DAILY DIFFERENTIALS Differential 2/4 2/5 2/6 2/7 2/8 HH-NY +0.67 +0.85 +1.19 +1.02 +1.75 HH-Chicago +0.13 +0.19 +0.23 +0.17 +0.30 AECO-CHIC +0.62 +0.73 +0.55 +0.71 +0.37 AECO-PG&E...

Innovations fielded for easier land, sea pipeline inspection.
February 11, 2008... Without making a lot of noise, two companies on opposite ends of the nation have advanced research and development projects that in one case will allow a more detailed inspection of underground pipelines below city streets. Randolph, New...

North American weekly gas storage.
February 11, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Feb.1 Jan. 25 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1138 1257...

Onshore projects dominate capex budgets in '08 company planning.
February 11, 2008... In Denver recently, St. Mary Land & Exploration unveiled a $626 million capital spending plan for 2008 that will see a large percentage of the budget spent on the ArkLa-Tex region. Also weighing in with a hefty spending plan for this year...

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

Pipeline capacity utilization.
February 11, 2008... PIPELINE CAPACITY UTILIZATION Location FlowDate Flow Feb. (2008) Feb. (2007) Month-to-Date Month-to-Date Transco Zone 6 NY 2/4/2008 1,717,177 1,763,729 ...

Nevada eyes developing geothermal resource.(CURRENT)
February 11, 2008... For those who can't get enough analogy-speak--"60 is the new 40"--here's one that may not be all that far-fetched. According to a scholastic study, being promoted by geothermal industry advocates, "Nevada is the new Saudi Arabia." And...

Wind to cut Hawaii oil dependence.(CURRENT)
February 11, 2008... One thinks of the Hawaiian Islands as a getaway from the smog and traffic of the mainland--but it's hardly a holiday for Hawaiians concerned with generating clean power. US reliance on coal to generate more than half of its electricity...

Renewable sector press congress for quick extension of tax credits.(CURRENT)
February 11, 2008... Although Congress extended the tax credits for renewable energy early last time, wind power advocates are already advocating another extension. If those tax credits aren't renewed the next go-round, the US could lose more than 116,000...

Fortis structures hedge with wind farm.(CURRENT)
February 11, 2008... Fortis Energy Marketing and Trading, formerly Dukeowned Cinergy, has entered into a long-term natural gas hedge with the Sherbino I Wind Farm, a 150-MW joint venture owned by subsidiaries of Houston-based BP Alternative Energy North America and...

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

Two utilities plan line to connect wind.(CURRENT)
February 11, 2008... Two small utility companies are planning a 60-mile power line in eastern North Dakota to move electricity from proposed wind farms in Griggs, Steele and Barnes counties. Minnkota Power Cooperative of Grand Forks, North Dakota, and Otter...

Comparative fuel prices.(CURRENT)
February 11, 2008... COMPARATIVE FUEL PRICES (Cash Market) February 11,2008 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd(Util) $79.00/ton $8.47/MMBtu ...

Roan plateau barrier anvil point to see clean-up contract in June.(Regional Market Roundup)
February 11, 2008... Federal officials will sign a contract in June that will start the ball rolling on removal of the current barrier to gas development on federal lands within Colorado's Roan Plateau, US Interior Secretary Dirk Kempthorne announced last week. ...

Baker hughes rig count.(Regional Market Roundup)
February 11, 2008... BAKER HUGHES RIG COUNT Week Ended Feb. 8 Rotary Rigs Current Previous Year Week Week Ago Total US 1,755 1,763 1,731 Land ...

Gas price trends.(Regional Market Roundup)
February 11, 2008... GAS PRICE TRENDS ($/MMBtu) CALIFORNIA ROCKY NEW MTNS MEXICO South North Feb 11, 2008 Inter (well) -- -- 7.17 7.30...

Saskatchewan government looks to bolster CBM, shale gas plays.(Canadian Markets)
February 11, 2008... Saskatchewan is Canada's third leading natural gas producer, whose 18,700 gas wells delivered 273 billion cubic feet in 2006 or about 750 million cubic feet per day. That volume isn't much compared to the enormous flow of more than 13.2...

Qatar, partners see commercial breakthough in GTL jet fuel use.(World Roundup)
February 11, 2008... An airplane traveling between the UK and France earlier this month may have seemed ordinary to those it passed by. But the jet's three-hour flight was much more: it marked a milestone in natural gas-based alternative fuel technology. ...

Floating LNG looks cheap, petronas finds.(World Roundup)
February 11, 2008... Malaysian state Petronas is getting serious about deploying the world's first floating LNG production plant on a deepwater gas development off the state of Sabah. The firm tells NGW sister publication World Gas Intelligence that it has...

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

Coal plant projects hit hard by stable gas, inevitable mandates.(World Roundup)
February 11, 2008... What a difference a couple of years can make in a market. In the aftermath of hurricanes Katrina and Rita, thirdquarter '05 natural gas prices jumped into a $10 to $15 range with a nationwide fleet of idle gas-fired power plants ready to be...

Natural gas weekly spot prices.
February 18, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 2/12-2/18 Avg. Avg. Feb. Price Daily Daily Bid Point $/MMBtu High ...

Scientist: new lifeform will be engineered to make future fuels.
February 18, 2008... A new life form may be the key to the world's energy future. With that short premise, J. Craig Venter had the undivided attention of a room full of leading energy industry movers and shakers. Venter, chairman of the J. Craig Venter Institute...

Bi-Fuel CNG-gasoline car could be ticket into consumer market.
February 18, 2008... Ron Cogan has test driven what may be the natural gas vehicle of the future. Cogan, editor and publisher of the Green Car Journal and a longtime advocate of alternatively powered vehicles, has been testing bi-fuel vehicles, which can run...

Cooler-than-expected late winter takes unexpected toll on storage.
February 18, 2008... Like the 2007 hurricane season before it, winter 2007-08 just doesn't want to follow the script from last fall calling for an extraordinarily warm late winter. And with the market topping the mid-February hump, it's beginning to dawn on players...

Conoco says it is determined to move ahead with Alaska gas line.
February 18, 2008... ConocoPhillips last week said it was pressing ahead with its proposal for a North Slope natural gas pipeline project despite failing to reach an agreement with the state of Alaska. Brian Wenzel, vice president of Alaska North Slope gas...

Reforms urged.(Late news ...)
February 18, 2008... Reforms urged: Mexican Energy Minister Giorgina Kessel said she hopes an upcoming energy reform bill will allow Pemex to form joint ventures to develop reserves in the deepwater Gulf of Mexico. She said Pemex must act fast to develop oil and...

Explosions reported.(Late news ...)
February 18, 2008... Explosions reported: Officials in McCook, Texas, early Friday reported a series of explosions at what officials said was an oil pipeline near the border with Mexico. Hidalgo County Emergency Manager Tony Pena said there were no injuries and...

Rig sale.(Late news ...)
February 18, 2008... Rig sale: Houston-based Transocean has hired Simmons & Co. International to market and sell two semi-submersible rigs. Transocean is selling the GSF Arctic II and GSF Arctic IV in keeping with the terms of a compliance agreement with the Office...

Shell, NOAA ink joint agreement to help monitor gulf conditions.
February 18, 2008... A new layer of defense to protect the Gulf of Mexico's energy industry from hurricanes is being added, thanks to a collaborative effort between the US division of Royal Dutch/Shell and NOAA. Officials with Shell and the National Oceanic and...

Intrastate weekly spot prices.
February 18, 2008... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 2/12-2/18 Avg. Avg. Feb. Price Daily Daily Bid Point $/MMBtu Chg. High...

CNX details Appalachian assets, potential of CBM and shale plays.
February 18, 2008... In its most detailed review to date of its holdings in the Appalachian Basin, CNX Gas said last week that it has an estimated 3.6 trillion to 7.4 trillion cubic feet of recoverable reserves and net unrisked resource potential. That range...

Prices and differentials for major hubs and selected city gates.
February 18, 2008... [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 2/11 2/12 2/13 2/14 2/15 HH-NY +5.48 +1.73 +2.45 +2.01 +2.51 HH-Chicago +0.31 +0.30 +0.34 +0.36 +0.27 AECO-CHIC +0.43 +0.90...

America's energy coast leaders draft accord between Gulf states.
February 18, 2008... Energy industry executives and environmentalists have joined forces to write what is being called a sustainability accord for the four states that make up America's Energy Coast. In doing so, the states of Texas, Louisiana, Mississippi and...

North American weekly gas storage.
February 18, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Feb. 8 Feb. 1 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1072 ...

Exxon reserves replacement take hit from loss of Venezuelan crude.
February 18, 2008... Exxon Mobil had another good year for reserve replacement through the drillbit in 2007, thanks to resource additions in the Mideast, West Africa and other parts of the world. However, the company's overall reserve replacement performance took a...

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

Australia soon becoming regional LNG player with global ambition.(LNG Update)
February 18, 2008... With Indonesia faltering, Australia is poised to become a leading regional supplier, with ongoing and planned projects and expansions capable of exporting more than 5 billion cubic feet per day to markets throughout Asia--and perhaps the US--by...

Prices for major Atlantic basin LNG hubs.
February 18, 2008... [ILLUSTRATION OMITTED] * European gas prices are four-week spot averages from World Gas Intelligence. US gas prices are Natural Gas Week's volume-weighted composites from delivery first day of month through most current delivery date. New...

Coal projects getting dicier without GHG rules.(CURRENT)
February 18, 2008... Now that Wall Street has weighed in, Congress is free to put a price on carbon... or to further incent renewable generation... or to fully fund coal sequestration efforts... at least do something that will indicate how to best keep the...