Natural Gas Week articles from January 2008

Natural Gas Week archives from January 2008

Natural gas weekly spot prices.
January 7, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 1/1-1/7 Price Point $/MMBtu Chg. High Low GULF COAST ANR SE 7.44 +0.60 7.92 7.02 Col. Gulf - Erath 7.50 +0.63 7.91 7.01...

Then there was one: TransCanada makes Alaska NatGas pipeline cut.
January 7, 2008... The state of Alaska has whittled down a handful of proposals for a multibillion dollar natural gas pipeline project to a single company--TransCanada. Gov. Sarah Palin on Friday announced the results of the state's initial review of the...

Not dead yet: floor trading hard hit in '07; extinction inching closer.
January 7, 2008... Electronic trading platforms gained even more ascendancy last year, dealing a further blow to open outcry trading that was vibrant less than two years ago, but now distained by many as old-fashioned and impractical. And while 2008 won't be the...

Record $100/bbl oil, speculators keep February gas contract aloft.
January 7, 2008... In the midst of crude oil futures topping $100 a barrel for the first time last week, natural gas futures followed the market hype by trading up near $8/MMBtu. But while crude appears to be setting up for a sell-off, relentless speculative...

Alaska deal could save sole US LNG train, raise gas production.
January 7, 2008... Alaska Gov. Sarah Palin announced a deal late last week with ConocoPhillips and Marathon designed to keep the sole US liquefied natural gas export facility in operation. The agreement includes pledges from the two international oil...

Company bought.(Late news ...)
January 7, 2008... Company bought: Forest Oil is buying Infinity Oil & Gas of Wyoming, a subsidiary of Infinity Energy Resources, in a deal valued at $17.4 million. The deal between the Denver-based firms includes all of Infinity's producing oil and natural gas...

In service.(Late news ...)
January 7, 2008... In service: Williams has placed an expansion of its Transco natural gas pipeline system into service, increasing firm transportation capacity into the New York City metropolitan area. The Leidy to Long Island project required expanding existing...

Contract landed.(Late news ...)
January 7, 2008... Contract landed: Atwood Oceanics has won a three-year contract from Chevron Australia to provide a new-build semi-submersible drilling rig capable of working in waters from 6,000 feet to 8,000 feet deep off the coast of Australia. The deal...

Kerkorian buys stake in Delta; assets heavy in Colorado, Utah.
January 7, 2008... A little over a month after failing to get his way with independent refiner Tesoro, billionaire takeover specialist Kirk Kerkorian has struck again, finding it far easier this time to grab a sizeable stake in a small US exploration and...

Intrastate weekly spot prices.
January 7, 2008... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 1/1-1/7 Price Point $/MMBtu Chg. High Low Louisiana Intras -- -- -- -- Oklahoma Intras -- -- -- -- South Texas Intras 7.36...

Focus on the future, companies begin securing Natgas supplies.
January 7, 2008... With its eye on the horizon, Chesapeake Energy sold two European companies future natural gas production in Kentucky and West Virginia in a deal valued at $1.1 billion. Several identical deals under discussion may net Oklahoma City-based...

Prices and differentials for major hubs and selected city gates.
January 7, 2008... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES January 7, 2008 US$/MMBtu, Volume-Weighted [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 12/31 1/1 1/2 1/3 1/4 HH-NY ...

New study: European alternative energy firms to get lion's share.
January 7, 2008... With energy prices increasing and a growing clamor for tightened regulation of greenhouse gases, alternative energy companies could be in for a golden year in 2008. But US companies may start this race behind the pack. "Non-US...

Natural gas futures.
January 7, 2008... NATURAL GAS FUTURES Trading Dates: December 31 - January 4 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Last Volume Last Volume February 2008 7.483 ...

Pipeline capacity utilization.
January 7, 2008... PIPELINE CAPACITY UTILIZATION Location FlowDate Flow Jan. (2008) Jan. (2007) Month-to-Date Month-to-Date Transco 1/4/2008 1,893,104 1,895,029 1,794,583 Zone 6 NY ...

Natural gas bidweek prices.
January 7, 2008... NATURAL GAS BIDWEEK PRICES Flow Dates: 1/1-1/31 January Chg. Price Avg. from Point $/MMBtu Prev. High Low GULF COAST ANR SE 7.12 -0.24...

2008 poised to become the real year of the Nuke.(CURRENT)
January 7, 2008... The Chinese are looking forward to the Year of the Rat, which begins Feb. 7, but the US may already have embarked on the Year of the Nuke. While 2007 was touted for bringing on a "Nuclear Renaissance" there were just enough applications...

Big guns focus on holy grail: power storage, capturing wind.(CURRENT)
January 7, 2008... RWE Power, a power generator in Europe, is working with GE to develop a zero-emission storage technology, called Advanced Adiabatic Compressed Air Energy Storage. The companies said they suspect the technology has higher efficiency than...

Scrutinized Palo Verde Unit 3 returning.(CURRENT)
January 7, 2008... The return of Palo Verde Unit 3, which has been down since Sep. 29 for refueling, maintenance and replacement of its steam generators, is expected within the week. During recent maintenance work on the unit's cooling tower, sparks from...

Spot electricity trading.(CURRENT)
January 7, 2008... SPOT ELECTRICITY TRADING Trading Dates: December 31, 2007-January 4, 2008 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month...

Proposed Nevada coal plant under review.(CURRENT)
January 7, 2008... The embattled coal plant proposed by Sierra Pacific for the Ely area of Nevada is up for public review, a process that the Bureau of Land Management said could take at least two years, according to the Associated Press. Written comments...

SoCal Ed inks geothermal power deal.(CURRENT)
January 7, 2008... Ormat Technologies, a Reno-based developer of geothermal power plants, recently signed a 20-year power purchase agreement with Southern California Edison. Under the agreement--the eighth between both parties--Ormat will sell electricity...

Comparative fuel prices.(CURRENT)
January 7, 2008... COMPARATIVE FUEL PRICES (Cash Market) January 7, 2007 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $57.50/ton $8.04/MMBtu ...

Westside, Crusader merger targets unconventional US Natgas plays.(Regional Market Roundup)
January 7, 2008... Westside Energy has entered into an agreement to merge with privately held, Oklahoma City-based oil and gas firm Crusader Energy, creating a company with a major land position in some of North America's most prolific resource plays. The...

Baker hughes rig count.(Regional Market Roundup)
January 7, 2008... [ILLUSTRATION OMITTED] BAKER HUGHES RIG COUNT Week Ended Jan. 4 Rotary Rigs Current Previous Year Week Week Ago Total US 1,774 1,782 1,695 ...

Gas price trends.(Regional Market Roundup)
January 7, 2008... GAS PRICE TRENDS ($//MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO South North Jan 7, 2007 Inter (well) -- -- 6.27 6.77 Intra...

Analyst: long-term projects can not wait on Canadian CO2 policy.(Canadian Markets)
January 7, 2008... Energy infrastructure operators--whether oil sands projects, coal-fired power plants or even natural gas-fueled electricity generators--may find that 2008 is the year hard decisions have to be made on what kinds of facilities they can build and...

Total awards FMC huge contract for deepwater project off Angola.(World Roundup)
January 7, 2008... FMC Technologies has landed a $980 million contract to supply deep-water processing and production systems to Total's Pazflor project offshore Angola. Officials with Houston-based FMC said the deal included orders for three gas-liquid...

Cameron awarded Venezuelan contract.(World Roundup)
January 7, 2008... Cameron International has been awarded a $190 million contract to provide underwater oil and natural gas drilling equipment to Venezuela's national oil company. Houston-based Cameron will provide Petroleos De Venezuela with 10 sets of...

Japanese utility pays $18/MMBtu for LNG.(World Roundup)
January 7, 2008... In the wake of Japan's top utility, Tokyo Electronic Power, indefinitely shutting down its Kashiwazaki-Kariwa nuclear plant, demand for LNG has soared in the Asian markets. Now Reuters reports that at least one Japanese utility has paid around...

Canadian price report.(World Roundup)
January 7, 2008... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Total Province Huntingdon/ Kingsgate/ ...

North American weekly gas storage.
January 7, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Dec. 28 Dec. 21 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1604 ...

Spectra energy adding 1.6 Bcf/d pipe capacity into US market mix.
January 7, 2008... With an investment of about $660 million, Houston-based Spectra Energy has added about 1.6 billion cubic feet per day into its North American natural gas transmission line with projects that stretch from the southern US into Canada. It's...

Natural gas weekly spot prices.
January 14, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 1/8-1/14 Avg. Avg. Jan. Price Daily Daily Bid Point $/MMBtu Chg....

Colorado dems reverse position, offer compromise on Roan Plateau.
January 14, 2008... Last year at this time, it would have been out of the question. Now, three Colorado lawmakers are proposing a compromise to allow energy development within federal shale reserves on the Roan Plateau as long as environmental protections are...

Energy prices may be teetering with recession signals flashing.
January 14, 2008... Despite speculation that oil futures prices could surge well beyond $100 a barrel in 2008, potentially lifting natural gas prices in sympathy, there's growing consensus that the US economy is on the ropes, and history shows that economic...

NatGas Rallies Amid speculation; strong surge seen topping out.
January 14, 2008... Despite ample natural gas in storage to meet remaining winter demand and forecasts for more above-normal temperatures, Nymex February gas futures shot up about 20% in the last two weeks. But, bearish storage data and weakening crude could bring...

GAO report: LNG tankers remain vulnerable; CG said unprepared.
January 14, 2008... The seaborne supply chain bringing natural gas to the US is becoming even more exposed to terrorist attack and disruptions and the very agency charged with defending the nation's ports and harbors is getting stretched dangerously thin. ...

Spectra starts open season for Bronco pipe; competition growing.
January 14, 2008... A three-way fight is developing over getting natural gas from the Rocky Mountains to US markets after Spectra Energy said it is holding an open season to solicit interest in its Bronco Pipeline. Like Kinder Morgan Energy Partners' Rex-West...

Contango greets new year with moves to restructure, streamline.
January 14, 2008... In a spate of announcements to start the year, Contango Oil & Gas said it will sell off a chunk of its Fayetteville Shale acreage in Arkansas, boost its interests in the Eugene Island 10 discovery offshore Louisiana, and sell its 10% limited...

Intrastate weekly spot prices.
January 14, 2008... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 1/8-1/14 Avg. Avg. Jan. Price Daily Daily Bid Point $/MMBtu Chg. High...

Prices and differentials for major hubs and selected city gates.
January 14, 2008... SELECTED DAILY DIFFERENTIALS Differential 1/7 1/8 1/9 1/10 1/11 HH-NY +0.52 +0.70 +0.98 +0.82 +0.95 HH-Chicago -0.02 +0.06 +0.08 -0.02 -0.03 AECO-CHIC -0.33 +0.69 +0.68 +0.66 -0.34 AECO-PG&E...

North American weekly gas storage.
January 14, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Jan.4 Dec.28 Weekly Year Yr.Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1511 1604...

Natural gas futures.
January 14, 2008... NATURAL GAS FUTURES Trading Dates: January 7 - January 11 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume ...

New French LNG terminals set to raise global NatGas competition.(LNG Update)
January 14, 2008... Burgeoning regasification terminals in France could trigger rivalry between European terminals and tighten Atlantic Basin supply even more, especially given delays--albeit temporary--in new liquefaction capacity around the world. If...

Prices for major Atlantic Basin LNG hubs.(LNG Update)
January 14, 2008... * 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 York Citygate is a weighted...

Gas may soon see Colorado generation boom.(CURRENT)
January 14, 2008... Coloradans "living in the moment" might have been, until recently, only the hippie and/or Buddhist factions, mainly in the Boulder area. But since the first leg of the Rockies Express West pipeline's completion, most anyone concerned with...

Texas state capital to get wind project; no power line plan yet.(CURRENT)
January 14, 2008... Austin Energy, the 10th-largest community-owned electric utility in the US, will have access to power from a $350 million, 166-MW wind generation project to be developed in West Texas by GE Energy Financial Services, a unit of GE, and UK-based...

FERC approves enron-snopud settlement.(CURRENT)
January 14, 2008... The Federal Energy Regulatory Commission last week approved an $18 million settlement agreement resolving Enron's claims against Snohomish Public Utility District (Snopud). True to form, Enron originally sought ten times that amount for breach...

Spot electricity trading.(CURRENT)
January 14, 2008... SPOT ELECTRICITY TRADING Trading Dates: January 7-January 11, 2008 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Geothermal power plant goes online.(CURRENT)
January 14, 2008... US Geothermal said last week that its Unit One geothermal power plant at Raft River, Idaho, has been put into commercial operation. The company said that Idaho Power has started buying power under the terms of a 10-MW Public Utility...

Comparative fuel prices.(CURRENT)
January 14, 2008... COMPARATIVE FUEL PRICES (Cash Market) January 14, 2008 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $58.00/ton $8.26/MMBtu $2.42/MMBtu EAST COAST...

Chesapeake claiming number two spot in booming barnett shale.(Regional Market Roundup)
January 14, 2008... Chesapeake Energy said last week it has supplanted XTO Energy as the number two producer in the prolific Barnett Shale. The company also said it has tacked on another chunk of acreage in the heart of the North Texas gas play. Chesapeake...

Baker hughes rig count.
January 14, 2008... BAKER HUGHES RIG COUNT Week Ended Jan. 11 Rotary Rigs Current Previous Year Week Week Ago Total US 1,744 1,774 1,717 Land ...

Gas price trends.
January 14, 2008... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO South North Jan 14, 2007 Inter (well) ...

Bad, good news: export pipes see lighter usage; influx ready.(Canadian Markets)
January 14, 2008... Declining natural gas production in the Western Canadian Sedimentary Basin doesn't bode well for the country's export pipelines, according to a new report by the Canadian Energy Research Institute. The situation could be even worse should...

Woes hit LNG plants worldwide; supplies tightening, prices rising.(World Roundup)
January 14, 2008... Liquefaction plants worldwide are facing a flurry of glitches that collectively are depriving the market of a surge in LNG supply anticipated for this winter--and aggravating global market tightness that has pushed prices in Asia as high as...

Sakhalin-2 could be delayed--again.(World Roundup)
January 14, 2008... Sakhalin-2 in the Russian Far East is likely to push back LNG exports to early 2009 from mid-2008 because of delays in building the onshore pipelines. This would mark the second delay for the troubled two-train, 1.3 billion cubic foot per day...

Shell to conduct tests in Iraqi field.(World Roundup)
January 14, 2008... The Iraqi government has asked Royal Dutch Shell to conduct long-term production tests on a gas field close to the Syrian border, which could lead to Shell taking a stake in the play. The results will ascertain the size and quality of the...

Canadian price report.(World Roundup)
January 14, 2008... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas ...

Alaska bets on TransCanada for gas pipeline.(Analysis)
January 14, 2008... The state of Alaska is betting on Canadian pipeline giant TransCanada to deliver on the state's long-held dream of developing a pipeline to carry North Slope natural gas to markets in the lower 48. Critics of the plan argue it's a...

Raymond James, Gerdes on same road to a different destination.
January 14, 2008... The Gerdes Group and Raymond James came out last week with very different natural gas '08 price forecasts based on the same fundamental supply information. Raymond James (RJ) dropped its 2008 US gas price forecast from $7/MMBtu to...

Natural gas weekly spot prices.
January 21, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 1/15-1/21 Avg. Avg. Jan Daily Daily Bid Price Point $/MMBtu...

Connecticut threatens lawsuit as Broadwater passes EIS muster.
January 21, 2008... Connecticut Gov. Jodi Rell and Attorney General Richard Blumenthal are threatening to take legal action against the Federal Energy Regulatory Commission if the agency grants final approval to an LNG terminal planned in Long Island Sound. ...

Yesteryear's trash fast becoming Prometheus' bounty for spot LNG.
January 21, 2008... Could the garbage truck that picks up your trash today really be powered by the trash you threw out years ago? The Kiefer Landfill in California's Sacramento county has selected Seattle-based Prometheus Energy to capture landfill-emitted...

Winter's coldest blast rescues gas bulls, but bears closing in.
January 21, 2008... January is known for being one of the most volatile months for natural gas futures, and this month is certainly living up to its reputation. [GRAPHIC OMITTED] While the latest blast of arctic air, now blanketing the high-demand...

Rex-West backers Mull new pipe; Colorado to Kansas section open.
January 21, 2008... Within a week of Rockies Express Pipeline-West (Rex-West) beginning interim service on a 500-mile segment from Colorado to Kansas, Kinder Morgan Energy Partners (KMP) and its partners are considering the construction of another line out of the...

Plant studied.(Late news ...)
January 21, 2008... Plant studied: Hess and ArcLight Capital Partners are studying plans to build a 512-MW natural gas-fired power plant in Bayonne, New Jersey. If built, the plant would deliver power to Consolidated Edison in New York. The two companies said it...

Acquisition disputed.(Late news ...)
January 21, 2008... Acquisition disputed: One of Quest Resource's major shareholders has called for the energy company to stop its planned $207 million acquisition of Pinnacle Gas Resources and instead consider selling itself. In a letter to Quest's board that was...

Drilling halted.(Late news ...)
January 21, 2008... Drilling halted: PetroQuest Energy has suspended drilling at its La Cantera project in South Louisiana. A spokesman for the Lafayette, Louisiana-based firm said operations were shut down after adverse conditions were encountered almost three...

Fate of polar bear, Chukchi Sea E&P intertwine in house measure.
January 21, 2008... US Rep. Edward Markey (D-Massachusetts) introduced legislation last week to prohibit the Bush administration from selling oil and gas drilling rights off Alaska's northwest coast until a decision was reached on whether to expand federal...

Court rules MMS study adequate for 2007's Beaufort Sea lease sale.
January 21, 2008... A US District Court in Alaska last week ruled the Interior Department's Minerals Management Service had done an adequate job of assessing the environmental risk posed by oil development when it held an offshore lease sale in April for acreage...

Intrastate weekly spot prices.
January 21, 2008... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 1/15-1/21 Avg. Avg. Jan. Price Daily Daily Bid Point $/MMBtu Chg. High...

Osaka gas said mystery buyer in Contango's Freeport stake sale.
January 21, 2008... The mystery buyer of the 10% stake in Freeport LNG is Japanese utility Osaka Gas, Natural Gas Week has learned. The giant gas company paid US independent Contango Oil and Gas a modest $68 million for the stake, which does not come with...

Prices and differentials for major hubs and selected city gates.
January 21, 2008... SELECTED DAILY DIFFERENTIALS Differential 1/14 1/15 1/16 1/17 1/18 HH-NY +3.23 +2.86 +2.28 +1.17 +10.14 HH-Chicago -0.05 -0.01 +0.07 +0.25 +0.77 AECO-CHIC +0.72 +0.80 +0.98 +0.93 +1.30...

Operating costs continue rising for Permian Basin energy firms.
January 21, 2008... One of the hottest production regions in the US, the Permian Basin, is also becoming one of the most costly in which to operate. That was the finding of a study by Ziff Energy of operating costs since 2004 for both natural gas and oil...

North America weekly gas storage.
January 21, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Jan. 11 Jan. 4 Weekly Year Yr. Ago Region Week Week Change Ago Change US East 1482 1511 ...

Natural gas futures.
January 21, 2008... NATURAL GAS FUTURES Trading Dates: January 14-January 18 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume ...

Mad dash under way for Marcellus Shale acreage.(E & P Update)
January 21, 2008... The accepted wisdom in the E&P community at the moment is that the Marcellus Shale--particularly the portion in southwestern Pennsylvania--is the "hot" new gas play in the US, heading up nothing short of a drilling renaissance in the...

Gas rigs Vs. total rigs.(E & P Update)
January 21, 2008... Gas Rigs Vs. Total Rigs Oil Rigs Gas Rigs 1/1/2003 142 714 1/21/2005 177 1084 1/19/2007 275 1466 7/20/2007 287 1497 8/24/2007 316 1494 9/21/2007 ...

Storage-price-gas rig count.(E & P Update)
January 21, 2008... Storage-Price-Gas Rig Count Rig Count Storage 07/20/07 1497 2692 08/24/07 1494 2926 09/21/07 1458 3132 10/19/07 1438 3375 11/21/07 1455 3540 12/21/07 ...

Fight brewing over Oyster Creek relicensing.(CURRENT)
January 21, 2008... In response to the Nuclear Regulatory Commission's ombudsman audit of the agency last fall, a coalition of six environmental and citizens' groups recently filed a petition with the NRC to halt its license renewal process for the nation's aging...

US sees Record amount invested in renewable energy sector in '07.(CURRENT)
January 21, 2008... A new survey shows that while the US may be lagging behind in worldwide spending on renewable energy, a milestone was reached last year in the amount of venture capital invested in US renewable energy projects, indicating that spending in the...

Greens tackle 'lax' Texas stance on coal.(CURRENT)
January 21, 2008... Not only are the feds under fire for alleged lax standards in the nuclear industry, but the Lone Star State purportedly is putting commerce before public safety, according to a coalition of environmental groups (see p8). Last week,...