Natural Gas Week articles from January 5 2009

Natural Gas Week archives from January 5 2009

Natural gas weekly spot prices.
January 5, 2009... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 12/30-1/5 Avg. Avg. Jan. Price Daily Daily Bid Point $/MMBtu Chg. High Low Vol....

US could take serious look at Law of the Sea but hurdles remain.
January 5, 2009... The US may be poised to seriously consider ratifying the United Nations Convention on the Law of the Sea, some 25 years after its negotiation, with support for US involvement coming from boosted Democratic majorities in the Senate and from...

Oil, natural gas take wild ride during crazy and chaotic 2008.
January 5, 2009... Natural gas prices rode a roller coaster in 2008, hitting nearly $14/MMBtu before plummeting to well below $6. All this in the midst of the biggest financial meltdown since the Great Depression of the 1930s. Either way you look at it, there was...

Virginia governor: state won't necessarily back 2011 lease sale.
January 5, 2009... Wait. Not so fast. Let's stop to think about this. That was Virginia Gov. Tim Kaine's reaction to an offshore lease sale planned less than three years from now off the Old Dominion's Atlantic coastline. The federal Minerals Management...

CORE: Robert Redford wrong in opposing Utah NatGas E&P.
January 5, 2009... Actor and environmentalist Robert Redford's efforts to block natural gas drilling in Utah has put him on a collision course with the Congress of Racial Equality. CORE National Chairman Niger Innis said that Redford and other activists...

Plans ended.(Late news ...)
January 5, 2009... Plans ended: Enterprise Products Partners and Quicksilver Gas Services have ended their plans for a 50% stake in TransCanada's $2 billion Pathfinder pipeline project. As planned, the 673-mile pipeline would run from Colorado to North Dakota...

Bankruptcy filed.(Late news ...)
January 5, 2009... Bankruptcy filed: Ausam Energy and its subsidiary, Noram Resources, have filed voluntary Chapter 11 bankruptcy petitions with the US Bankruptcy Court in Houston. The company reports it will continue its ordinary course of business operations...

HQ picked.(Late news ...)
January 5, 2009... HQ picked: The Gas Exporters Countries Forum (GECF) has established its charter and chosen Doha, Qatar, as the home for its headquarters. Doha was selected over Algeria, Iran and Russia as the site for its headquarters. The GECF has said it...

Industry tempers support for new SEC reserve rules, regulations.
January 5, 2009... The US Securities and Exchange Commission last week unanimously approved revisions to the standards that oil and gas companies use to book reserves. However, industry advocacy groups are now voicing concerns about some of the changes they had...

Intrastate weekly spot prices.
January 5, 2009... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 12/30-1/5 Avg. Avg. Jan. Price Daily Daily Bid Point $/MMBtu Chg. High Low...

Natural gas rallies above $6 on first trading day of 2009.
January 5, 2009... Cold weather forecasts for January, light end-of-the-year volumes, and high emotions regarding escalating geopolitical conflicts all combined forces to drive Nymex February gas futures back above $6 in intraday trading on the first official...

Prices and differentials for major hubs and selected city gates.
January 5, 2009... SELECTED DAILY DIFFERENTIALS Differential 12/29 12/30 12/31 1/1 1/2 HH-NY +0.74 +1.86 +3.62 +3.62 +1.43 HH-Chicago +0.27 +0.36 +0.21 +0.21 +0.18 AECO-CHIC -0.22 -0.22 -0.20 -0.20 -0.27 AECO-PG&E...

Barclays forecast: North America to lead 2009 E&P spending cuts.
January 5, 2009... Significant declines in commodity prices, tight credit markets, and constrained cash flow will force global exploration and production spending to drop by double-digits this year, says investment firm Barclay's Capital. Most cuts will take...

Composite spot wellhead price.
January 5, 2009... COMPOSITE SPOT WELLHEAD PRICE January 2004 to Present ($/MMBtu) Year Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. 2008 7.83 8.30 9.03 9.86 10.47 11.97 10.81 7.83 6.75 5.87 2007 6.25 7.79 6.52...

Tudor Pickering foresees NatGas hovering near $5.50/MMBtu in '09.
January 5, 2009... Natural gas prices could average $5.50/MMBtu in 2009 as the domestic market reacts to an abundance of new supplies and a recession-fueled retraction in demand, Tudor Pickering Holt said in a 2009 price outlook released recently. Recent gas...

Natural gas futures.
January 5, 2009... NATURAL GAS FUTURES Trading Dates: December 29 - January 2 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume...

North American weekly gas storage.
January 5, 2009... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Dec. Dec. Yr. 26 19 Weekly Year Ago 5-year 5-year Region Week Week Change Ago Change Average Change US ...

Natural gas bidweek prices.
January 5, 2009... NATURAL GAS BIDWEEK PRICES Flow Dates: 1/1-1/31 January Chg. Prev. Price Avg. from Bid- Point $/MMBtu Prev. High Low Vol....

NGW's monthly weighted averages.
January 5, 2009... NGW'S MONTHLY WEIGHTED AVERAGES $/MMBtu Price Point Dec-08 Nov-08 Oct-08 Sep-08 Aug-08 Jul-08 Jun-08 Gulf Coast ANR SE 5.80 6.59 6.73 7.56 8.24 11.20 12.59 Col. Gulf - 5.78 6.57...

Right route for proper energy use may be thorny.(CURRENT)
January 5, 2009... Flying in the face of the recent nationwide interest in conscientious energy use are two interesting disclaimers: in one instance, consumer advocates in California warn regulators that energy efficiency programs must be defined before a rush to...

Line approved for southern California.(CURRENT)
January 5, 2009... San Diego Gas and Electric Company (SDG&E) has received a nod from state regulators to build its Sunrise Powerlink Transmission Project, designed to bring renewable energy in the Imperial Valley to the grid. The project also is expected to...

GDF Suez North America closes deal on New England's FirstLight.(CURRENT)
January 5, 2009... Only six months after the $144 billion merger met all regulatory approvals, GDF Suez Energy North America has acquired FirstLight Power Enterprises, making the company the fifth largest electricity generator in New England. Although no sum...

Second RGGI auctions results released.(CURRENT)
January 5, 2009... The Regional Greenhouse Gas Initiative's (RGGI) recent cap-and-trade auction--the second in the US--sold 2.5 times the number of credits, for about 10% more than at the first auction. Sixty-nine bidders purchased all 31,505,898 credits...

Spot electricity trading.(CURRENT)
January 5, 2009... SPOT ELECTRICITY TRADING Trading Dates: December 29, 2008-January 2, 2009 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT...

NRG adds more wind to Texas grid.(CURRENT)
January 5, 2009... NRG Energy's second wind farm in Texas, near Big Spring in Howard County, has gone commercial. The 122-MW Elbow Creek Wind Project was developed by NRG subsidiary Padoma Wind Power LLC and is being dispatched by NRG Texas. The...

Comparative fuel prices.(CURRENT)
January 5, 2009... COMPARATIVE FUEL PRICES (Cash Market) January 5, 2009 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $64.25/ton $6.12/MMBtu ...

El Paso continues selling assets; $275MM expected from new sales.(Regional Market Roundup)
January 5, 2009... El Paso reported progress on its attempt to sell non-core assets, completing one transaction and executing purchase and sale agreements on several others last week. The expected proceeds from the reported transactions total approximately $275...

Baker Hughes rig count.(Regional Market Roundup)
January 5, 2009... BAKER HUGHES RIG COUNT Week Ended Jan. 2 Rotary Rigs Current Week Previous Week Year Ago Total US 1,623 1,721 1,774 Land 1,547 ...

Gas price trends.(Regional Market Roundup)
January 5, 2009... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO South North Jan 5, 2009 Inter (well) -- -- 3.97 4.55 ...

Triangle's Elmworth gets first shale-gas production lease.(Canadian Markets)
January 5, 2009... Nova Scotia has issued its first shale gas production lease, which could lead to the province's first major onshore natural gas production by the end of this year. Energy Minister Richard Hurlburt granted the lease in principle only days...

Endeavor well reaches depth; sidetrack planned as next phase.(World Roundup)
January 5, 2009... Challenger Energy along with its partners, Canadian Superior Energy and BG International, have drilled the Endeavour well offshore Trinidad to a depth of approximately 17,063 feet subsea in the final section of the well and into the main target...

Seadrill takes delivery of new drillship.(World Roundup)
January 5, 2009... Seadrill has taken delivery of the ultra-deepwater drillship West Capella from Samsung Heavy Industries in South Korea. After outfitting and mobilization, the drillship will relocate to Nigeria in West Africa to commence operations under a...

CNPC inks pact to distribute NatGas.(World Roundup)
January 5, 2009... China National Petroleum Corp. (CNPC), has signed a framework agreement with south China's Hunan province, under which the company will invest about US$438.23 million to construct natural gas projects in this area. CNPC is the parent company of...

Canadian price report.(World Roundup)
January 5, 2009... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas ...

Regulating hedge funds is fool's errand given essential purpose.
January 5, 2009... My sister, a former research economist at the US Commodity Futures Trading Commission, sent me an article the other day on hedge fund regulation, or lack thereof, laying out a cogent argument why these opaque pools of speculative money defy...