Natural Gas Week articles from January 2005

Natural Gas Week archives from January 2005

Natural gas weekly spot prices.
January 3, 2005... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 12/28-1/3 Avg. Avg. Jan. Price Daily Daily Bid Point $/MMBtu Chg....

Shell's seismic breakthrough heralds new era in foothills.
January 3, 2005... A major gas discovery recently made by Shell Canada in Alberta's foothills northwest of Calgary is being touted as a breakthrough in the interpretation of three-dimensional seismic technology. Shell's proprietary software enabled them to...

Abandoned mines could be next unconventional target of E&Ps.
January 3, 2005... Abandoned coal mines may have been mined out, but according to a Colorado company many of them may still be able to help the nation's energy needs. Getting methane from abandoned coal mines "is a very unconventional source, but it is one...

January exits $2 lower at Nymex on rising storage concerns.
January 3, 2005... US natural gas markets remain vulnerable to upward price shocks with the worst of winter temperatures still ahead in January. But the weight of near-record storage inventories for late December and so-far uninspiring heating demand are pushing...

North American weekly gas storage.
January 3, 2005... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Dec. 24 Dec. 17 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1635 ...

Group demands EIA come clean on events behind storage fiasco.
January 3, 2005... A municipal utility group is demanding that the Energy Information Administration come clean on the events behind the Nov. 24 storage report fiasco that inflated December natural gas prices. The Federal Energy Regulatory Commission has...

Clarification.(Correction Notice)
January 3, 2005... An article in the Dec. 27 Natural Gas Week, "Rising Trend in Texas Natural Gas Production May Be Faltering," misleadingly compared preliminary Texas Railroad Commission gas production data for the month of October to final historical data,...

One for the records.(Late news ...)
January 3, 2005... One for the records. The Natural Gas Week composite spot wellhead price averaged $5.77/MMBtu in 2004, the highest ever recorded for a full year. The well-head average eclipsed the previous record of $5.21, set in 2003.

Bid-week to come.(Late news ...)
January 3, 2005... Bid-week to come. Due to a shortened holiday week and some incomplete trader surveys. Natural Gas Week will publish January bid-week prices in its Jan. 10 issue. Bid-week prices will be made available Monday, Jan. 3, in its sister publication...

Delayed.(Late news ...)
January 3, 2005... Delayed. BJ Services said it will delay filing its annual report for the fiscal year ended Sept. 30, missing an already extended deadline, while the oilfield services provider continues an accounting investigation in the Asia Pacific region....

New well tested.(Late news ...)
January 3, 2005... New well tested: US Oil and Gas Resources said the Laughlin McIntyre 18-13 #1 well in the Puckett field in Mississippi has been tested at a rate of 2.2 MMcf/d. Company officials said a new flow line from the well to nearby gas sales facilities...

Egypt becomes potential LNG supply source for US market.
January 3, 2005... A new project is set to join the ranks of liquefied natural gas exporters, and potentially emerge as a new supplier to the growing US natural gas market. After nearly a month's delay from the original start-up date of Dec. 10, the...

Intrastate weekly spot prices.
January 3, 2005... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 12/28-1/3 Avg. Avg. Jan. Price Daily Daily Bid Point $/MMBtu Chg. High Low...

Chesapeake adds to reserves with $325 million purchase.
January 3, 2005... Chesapeake remained busy during an otherwise quiet Christmas holiday period in the North American upstream sector, announcing on Monday the purchase of BRG Petroleum, a private company based in Tulsa, Oklahoma, for $325 million in cash. ...

Prices and differentials for major hubs and selected city gates.
January 3, 2005... [ILLUSTRATION OMITTED] January 3, 2005 US$/MMBtu, Volume-Weighted SELECTED DAILY DIFFERENTIALS Differential 12/26 12/27 12/28 12/29 12/30 HH-NY +2.43 +1.60 +0.83 +0.66 +0.66 HH-Chicago -0.22 -0.19...

CREDO tests said promising for Calliope gas recovery system.
January 3, 2005... The Calliope gas recovery system is still making sweet music for its developers at CREDO Petroleum, who are testing the innovative system designed to bring dead gas wells back to economic life. The system uses compressed gas to lift liquids...

Composite spot wellhead price.
January 3, 2005... COMPOSITE SPOT WELLHEAD PRICE January 2000 to Present ($/MMBtu) Year Jan. Feb. March April May June July August Sept. Oct. 2004 5.90 4.79 5.28 5.62 6.17 6.11 5.82 5.37 4.84 5.97 2003 5.15 6.91 7.14...

NGW's monthly weighted averages.
January 3, 2005... NGW'S MONTHLY WEIGHTED AVERAGES $/MMBtu Price Point Dec.'04 Nov.'04 Oct.'04 Sep.'04 Aug.'04 Gulf Coast ANR SE 6.45 5.61 6.08 4.80 5.37 Col. Gulf - Erath 6.62 5.96 ...

New Independence Gulf Hub a model for E&P project finance.
January 3, 2005... The Independence Hub, a new deepwater natural gas platform to be located in the eastern Gulf of Mexico, made waves in November as the largest deepwater project ever, capable of producing some 850 MMcf/d of natural gas beginning in October 2007....

Natural gas futures.
January 3, 2005... NATURAL GAS FUTURES Trading Dates: December 27 - December 30, 2004 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last...

Costs squash gas' potential in power markets.(CURRENT)
January 3, 2005... What ever happened to the 1990s theory that natural gas would displace the market share of coal and nuclear for power generation? The answer, quite simply, is that natural gas has never been more expensive, in the process losing its...

Spot electricity trading.(CURRENT)
January 3, 2005... SPOT ELECTRICITY TRADING Trading Dates: December 27-December 30, 2004 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT...

Comparative fuel prices.(CURRENT)
January 3, 2005... COMPARATIVE FUEL PRICES (Cash Market) January 3, 2005 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $61.00/ton $6.57/MMBtu $2.54/MMBtu EAST COAST ...

Sempra Energy fails in bid to stop $24 billion lawsuit.(Regional Market Roundup)
January 3, 2005... Sempra Energy last week failed to stop a $24 billion antitrust class-action lawsuit filed against it from going to trial. The California Court of Appeal, Fourth Appellate District, said it has denied Sempra's writ of mandate. As a result of...

Baker hughes rig count.(Regional Market Roundup)
January 3, 2005... [ILLUSTRATION OMITTED] BAKER HUGHES RIG COUNT Week Ended Dec. 23 Rotary Rigs Current Previous Year Week Week Ago Total US 1,257 1,234...

Gas price trends.(Regional Market Roundup)
January 3, 2005... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO South North Jan. 3, 2004 Inter (well) - - 5.33 5.29 Intra...

Canada offers fertile ground for LNG terminal developers.(Canadian Markets)
January 3, 2005... Relative to the size of its population, Canada promises to be an overachiever in the liquefied natural gas business for the simple reason that its main target, the booming US market, prefers its natural gas via pipeline and not tanker. But how...

Lundin well fails to find oil, gas.(World Roundup)
January 3, 2005... Swedish oil firm Lundin Petroleum said it has failed to find commercial amounts of oil or natural gas at its Munir Block in Iran. "The results of our Iranian exploration program have clearly been disappointing," Lundin Chief Executive...

Willbros gets $150 million in contracts.(World Roundup)
January 3, 2005... The Willbros Group, a Houston-based contractor for the oil and gas industry, has received $150 million in contracts for projects in the US, Bangladesh, Oman and West Africa. Among the projects is West African Pipeline's gas pipeline...

Canadian price report.(World Roundup)
January 3, 2005... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas ...

Tri-Valley drilling project may double California gas reserves.(World Roundup)
January 3, 2005... Delayed for several weeks by a mechanical problem at its well, Tri-Valley Corp. has resumed plans to tap into an unconventional natural gas reserve estimated at 3.3 Tcf near Bakersfield, California. "To put that into perspective, even at...

Natural gas weekly spot prices.
January 10, 2005... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 1/4-1/10 Avg. Avg. Jan. Price Daily Daily Bid Point $/MMBtu Chg....

EnCana takes search for gas to Northwest's Columbia River Basin.
January 10, 2005... EnCana's drive to become a major gas producer in the US has led the Canadian mega-independent to Washington state, an area with no current oil or gas production and where the last well was drilled some 20 years ago. Walt Lowry of EnCana...

LNG not happening fast enough, says head of LNG advocacy group.
January 10, 2005... Natural gas in one guise or another has been either a cause or a source of livelihood--or both--for Richard J. Sharples for some 35 years. He has chaired the Natural Gas Supply Association and the Natural Gas Council, as well as tours of duty...

Balmy January sends cash, Nymex gas futures below $6/MMBtu level.
January 10, 2005... Several major forces are pressuring US natural gas prices to the $5/MMBtu mark, most notably brimming storage inventories and bearish weather forecasts through mid-January. But end-users are not out of the woods yet this heating season, with...

North American weekly gas storage (billion cubic feet).
January 10, 2005... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Dec. 31 Dec. 24 Weekly Year Yr. Ago Region Week Week Change Ago Change US East 1536 1635 -99...

Controversy swirls over threat to marine life by LNG terminal.
January 10, 2005... Data used by US Coast Guard predicting a massive red drum kill by Shell LNG's proposed Gulf Landing LNG terminal offshore Louisiana was flawed, a spokesman for Shell LNG tells Natural Gas Week. Nonetheless, even if the data in the Final...

Permit awarded.(Late news ...)
January 10, 2005... Permit awarded: ChevronTexaco has received an official permit to build a liquefied natural gas terminal offshore Mexico from the country's Energy Regulatory Commission. In addition, Chevron won the Communication and Transport Secretariat's...

Plant expanded.(Late news ...)
January 10, 2005... Plant expanded: Arizona-based Salt River Project is adding 825 MW in two phases to its 300-MW gas-fired plant. Since 1998, Arizona has added some 9,000 MW of gas-fired generation, and the power mix is now about 56% coal, 18% nuclear, 18%...

Record set.(Late news ...)
January 10, 2005... Record set: Tulsa, Oklahoma-based Williams said Friday that its Transco natural gas pipeline system has set a peak day delivery record of 8.73 MMdtk. The record was set Dec. 20, 2004, and breaks the previous high of 8.34 MMdtk set on Jan. 23,...

LNG presenting opportunties for Mustang Engineering's LNG Smart.
January 10, 2005... Just about everyone in the energy industry agrees. Not all of the 50 or so planned or proposed liquefied natural gas terminals in the US will be built, but some will. And that opens the door for innovation, said Scott Worthington with...

Intrastate weekly spot prices.
January 10, 2005... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 1/4-1/10 Avg. Avg. Jan. Price Daily Daily Bid Point $/MMBtu Chg. High Low...

2004 LNG imports best yet; new supply, capacity ensures trend.
January 10, 2005... The US appetite for liquefied natural gas remained healthy last year despite the buildup in domestic gas storage volumes, with 1.8 Bcf/d, or a total of 653 Bcf, imported in 2004, according to estimates by NGW sister publication World Gas...

Prices and differentials for major hubs and selected city gates.
January 10, 2005... January 10, 2005 US$/MMBtu, Volume-Weighted [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 1/3 1/4 1/5 1/6 1/7 HH-NY +0.68 +1.01 +0.79 +0.75 +0.51 HH-Chicago +0.06 +0.10...

Anadarko to buy more stock, cut drilling; lower prices cited.
January 10, 2005... Anadarko said Friday it is shifting $150 million to $200 million from its 2005 drilling budget to additional share repurchases because of the recent decline in oil and gas prices and the continued rise of upstream service costs. The...

Natural gas futures.
January 10, 2005... NATURAL GAS FUTURES Trading Dates: January 3 - January 7, 2005 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last...

Natural gas bidweek prices.
January 10, 2005... NATURAL GAS BIDWEEK PRICES Flow Dates:1/1-1/31 (Vol./d) Jan. Chg. Price Avg. from Point $/MMBtu Prev. High Low Vol. Deals GULF COAST ANR SE ...

Enterprise Partners increases interest in Louisiana NGLs plant.
January 10, 2005... Houston-based Enterprise Products Partners has capped off what it called its most successful year in its 36-year history by acquiring additional interests in a Louisiana-based natural gas liquids facility. Enterprise Vice Chairman and Chief...

IGCC round table said critical to development.(CURRENT)
January 10, 2005... The energy industry and related sectors need a comprehensive round-table discussion on how cross-sector cooperation can tap into the unexploited value of Integrated Gasification Combined Cycle (IGCC), one industry analyst believes. John...

PJM expands as RTOs gain dominance in US power markets.(CURRENT)
January 10, 2005... The mesh of transmission systems that connect a myriad collection of power plants in the Northeast continues to look more like a patchwork of systems and less like tangled twine as Regional Transmission Organizations (RTOs) progress. PJM...

DOE: fuel cells seen commerical by 2010.(CURRENT)
January 10, 2005... Fuel cell technology has reached a major milestone that supports its move from niche markets into widespread commercial use by the end of the decade, the Department of Energy announced recently. The DOE said that its public-private advanced...

Spot electricity trading.(CURRENT)
January 10, 2005... SPOT ELECTRICITY TRADING Trading Dates: January 3-January 7, 2005 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

First Turkey litter plant breaks ground.(CURRENT)
January 10, 2005... The nation's first power plant fueled by turkey litter finally started construction after recently completing financing. Minnesota, the world's largest producer of turkeys, started construction on its estimated $142 million, 55-MW bio-mass...

Comparative fuel prices.(CURRENT)
January 10, 2005... COMPARATIVE FUEL PRICES (Cash Market) January 10, 2005 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $60.50/ton $6.11/MMBtu $2.52/MMBtu EAST COAST ...

Cheniere expands Creole Trail with major construction plan.(Regional Market Roundup)
January 10, 2005... Cheniere Energy has boosted the size of its proposed liquefied natural gas receiving terminal at Cameron, Louisiana, by more than 25%, from 2.6 Bcf/d to 3.3 Bcf/d from 2.6 Bcf/d. That would make the facility, named Creole Trail, the largest LNG...

Baker hughes rig count.(Regional Market Roundup)
January 10, 2005... [ILLUSTRATION OMITTED] BAKER HUGHES RIG COUNT Week Ended Jan. 7 Ratary Rigs Current Previous Year Week Week Ago Total US 1,242 1,243...

Gas price trends.(Regional Market Roundup)
January 10, 2005... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO South North Jan. 10, 2005 Inter (well) - - 5.17 5.13 ...

Growing environmental concerns might slow Mackenzie Pipeline.(Canadian Markets)
January 10, 2005... Gauging the progress of the proposed C$7 billion (US$5.8 billion) Mackenzie Valley Pipeline depends on whether the source is the lead pipeline proponent Imperial Oil, the Deh Cho First Nation tribe who claim 40% of the pipeline's proposed path,...

Iraq seeks bids for Kormor gas field.(World Roundup)
January 10, 2005... Iraq's State Co. for Oil Projects has invited companies to submit bids by Mar. 1 for the development of the Kormor gas field in northern Iraq. The work at Kormor, located 50 miles east of Kirkuk, includes the construction of processing...

Statoil spuds first Venezuela gas well.(World Roundup)
January 10, 2005... Norwegian oil and gas group Statoil reports spudding its first gas exploration well as an operator off Venezuela Jan. 1. The well was drilled by Transocean's Sovereign Explorer rig in block 4 of the Plataforma Deltana area. Statoil is...

Canadian price report.(World Roundup)
January 10, 2005... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas ...

Analyst argues gas demand not growing more weather sensitive.(World Roundup)
January 10, 2005... As the number of new gas-fired power projects exploded in recent years at the same time many industrial plants shut down, the conventional wisdom emerged among analysts and traders that demand for natural gas is growing increasingly dependant...

Natural gas weekly spot prices.
January 17, 2005... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 1/11-1/17 Avg. Avg. Jan. Price Daily Daily Bid Point $/MMBtu Chg....

Groups weigh in ahead of senate hearing on natural gas squeeze.
January 17, 2005... Proposals have been streaming in on ways to combat sustained high natural gas prices and rebalance the market, as companies jockey for the Senate's ear in advance of a pivotal conference on the natural gas supply shortfall. Thirty-two...

XTO stakes No. 2 position in Barnett Shale with Antero buy.
January 17, 2005... XTO Energy will become the number-two producer in the prolific Barnett Shale gas play of North Texas, following a $685 million deal announced last week. The Fort Worth, Texas-based independent--whose rapid acquisition-driven growth...

Gas prices find support as old man winter strikes in earnest.
January 17, 2005... The most impressive cold wave of the 2004-05 winter is poised to strike the Plains, Great Lakes and Northeast regions over the Jan. 15-17 weekend, in the process staunching a bearish slide in natural gas spot and futures prices. How long the...

Wood: jurisdictional tug-of-war not over on LNG terminal siting.
January 17, 2005... The battle over where liquefied natural gas terminals get built both onshore and offshore the US shows no signs of abating in the new year, although it looks increasingly likely that many of the outcomes will be determined in court. ...

Rule change proposed.(Late news)
January 17, 2005... Rule change proposed: The Environmental Protection Agency is proposing to exempt oil and gas companies from its storm water run off rule until Jun. 12, 2006, so it can consider comments raised by stakeholders. The delay will apply for oil and...

LNG talks started.(Late news)
January 17, 2005... LNG talks started: BG is in talks with Nigerian National Petroleum Corp. and ChevronTexaco on building a liquefied natural gas plant in Nigeria. A BG spokesman said the talks are in the early stages and none of the companies involved had...

Energy companies stand to gain as rules change for mutual funds.
January 17, 2005... Recently passed federal legislation that allows mutual funds to invest in so-called Master Limited Partnerships, the majority of which are owned by energy companies, should result in an increase of investment in the country's energy...

Texas independents up spending in 2005 for E & P drilling programs.
January 17, 2005... Three Texas independents plan increases in their 2005 capital spending budgets, as well as aggressive drilling programs that account for almost 1,500 new wells. Dallas-based Pioneer Natural Resources says its board of directors approved...

Intrastate weekly spot prices.
January 17, 2005... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 1/11-1/17 Avg. Avg. Jan. Price Daily Daily Bid Point $/MMBtu Chg. High Low...

Texas gas council updates plans in event of winter supply crisis.
January 17, 2005... Recognizing the near-cosmic regulatory and operational shifts in the natural gas business in recent years, the Natural Gas Reliability Council of Texas is going to update its plans for dealing with emergency situations. "A lot has changed...

Prices and differentials for major hubs and selected city gates.
January 17, 2005... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES January 17, 2005 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 1/10 1/11 1/12 1/13 1/14 HH-NY ...

Forecast: 2005-06 may see gas prices fall as market stabilizes.
January 17, 2005... Natural gas and oil prices should become steady this year and begin a slight, two-year decline, according to a forecast released last week by Fitch Ratings. Sean Sexton, managing director of the US Oil and Gas Team at Fitch Ratings, said...

Pipeline capacity utilization.
January 17, 2005... PIPELINE CAPACITY UTILIZATION Pipeline Point Name Capacity Colorado Interstate Gas Cheyenne 590,000 Columbia Gas Transmission Leach 2,218,000...

EIA pares '05 demand outlook; Sees softer winter gas prices.
January 17, 2005... The Energy Information Administration has reduced its forecast for industrial gas demand in 2005, and predicts that US natural gas prices will soften through the winter due to so-far mild weather and healthy storage inventories. In its...

Natural gas futures.
January 17, 2005... NATURAL GAS FUTURES Trading Dates: January 10-January 14, 2004 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume...

North American weekly gas storage.
January 17, 2005... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Jan. 7 Dec. 31 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1494 ...

Texas may give newer gas-fired plants a lift.(CURRENT)
January 17, 2005... Some Texas legislators support changes to deregulation that would encourage greater use of cleaner, more efficient gas plants built during the past several years, leading to cost savings and reduced emissions. Armed with two "state of the...

New York campaign netting cleaner air.(CURRENT)
January 17, 2005... New Yorkers will soon be inhaling cleaner air since New York state took implementation of the federal Clean Air Act standards to a new level. New York Attorney General Eliot Spitzer has waged a vigilant effort against coal plants since...

Ontario names Carr to oversee new authority, energy measures.(CURRENT)
January 17, 2005... Ontario has appointed a former member of the province's energy board to lead its newest power authority and proposed rules to grow clean distributed generation (DG). Jan Carr, a 30-year industry veteran, will head up the Ontario Power...

2004 good year for utility investors.(CURRENT)
January 17, 2005... In his annual "state of the industry" address to Wall Street, Edison Electric Institute (EEI) President Tom Kuhn said 2004 was a good year for the US shareholder-owned electric utilities, which posted impressive gains and outperformed other...

Spot electricity trading.(CURRENT)
January 17, 2005... SPOT ELECTRICITY TRADING Trading Dates: January 10-January 14,2005 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...