Natural Gas Week articles from July 2007

Natural Gas Week archives from July 2007

Natural gas weekly spot prices.
July 2, 2007... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 6/26-7/2 Avg. Avg. Jul. Daily Daily Bid Price Point $/MMBtu...

Record rain in Texas, Oklahoma hinders gas projects, production.
July 2, 2007... Natural gas producers in Texas and Oklahoma say that weeks of unrelenting rain has created problems for field work, projects and drilling in one of the few bright spots of burgeoning production. With more even downpours in the forecast,...

Right whale MMS study begins in advance of Bering Sea lease sale.
July 2, 2007... The key to exploring for oil and natural gas in the Bering Sea may not be in hands of drillers or politicians. It will lie with a group of biologists from several different federal agencies who will spend the next 3.5 years studying and...

Perfect storm: bearish weather, rising storage sinks gas futures.
July 2, 2007... Downright bearish demand and anemic weather forecasts, not to mention an unexpectedly large increase to storage inventories, drove natural gas futures sharply lower last week, bottoming out at near six-month lows. And unfortunately for market...

'Energy independence' debated in house won't increase production.
July 2, 2007... House Democrats delivered this week on their promise to complete an energy package by the Fourth of July recess. House Speaker Nancy Pelosi (D-California) announced the plan, which will include provisions cherry-picked from energy-related...

Nuke sites named.(Late news)
July 2, 2007... Nuke sites named: Illinois-based Exelon Nuclear has named two possible sites in gas-heavy Texas for a new nuclear plant. Officials with the company, which operates the largest number of nuclear power plants in the US, said the primary site is...

Fleet formed.(Late news)
July 2, 2007... Fleet formed: Seacor Holdings and Nabors Industries have entered into an agreement to form a new company to own and operate a fleet of 20 offshore support vessels. A subsidiary of Fort Lauderdale, Florida-based Seacor will be the majority owner...

Clarification.(Correction notice)
July 2, 2007... A "Late news" item in the Jun. 18 edition incorrectly stated that Arena Resources would participate in the construction of a natural gas pipeline with Aspen Pipeline. As the item went on to say, Arena's sole part in the project is to produce...

Senate panel asks Congress to expand oversight of OTC trading.
July 2, 2007... A US Senate subcommittee is calling on Congress to expand federal oversight of energy trading to halt excessive market speculation. The Senate Committee on Homeland Security and Governmental Affairs' Permanent Subcommittee on Investigations...

Intrastate weekly spot prices.
July 2, 2007... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 6/26-7/2 Avg. Avg. Jul. Daily Daily Bid Price Point $/MMBtu Chg. High...

Clean Energy IPO getting off to slow start; firm bullish on future.
July 2, 2007... The initial public offering (IPO) of Clean Energy, a Seal Beach, California-based company backed by longtime oilman T. Boone Pickens, came up short of expectations at its end-of-May close. However, despite this speed bump, the long-term outlook...

Prices and differentials for major hubs and selected city gates.
July 2, 2007... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES July 2, 2007 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 6/25 6/26 6/27 6/28 6/29 HH-NY ...

Maryland wins decision in LNG siting fight; AES is undeterred.
July 2, 2007... If Maryland legislators aren't careful, their actions might start giving project managers at AES a complex. The company's proposed Sparrows Point liquefied natural gas project in Baltimore has been undeniably unwelcome by lawmakers, and was...

Composite spot wellhead price.
July 2, 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 7.79 6.52 7.07 7.34 7.03 2006 8.20 7.30 6.47 6.61 5.93 6.04 5.93...

Composite spot delivered-to-pipeline price.
July 2, 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 8.44 7.12 7.54 7.53 7.23 2006 8.28 7.55 6.69 6.77...

Waste management cuts ribbon on landfill-gas-to-energy project.
July 2, 2007... Sensing an opportunity and keeping its eye on the future, Waste Management last week lifted the curtain on a five-year plan to build up to 60 energy facilities that will use landfill gas. The program will result in the creation of more than...

Natural gas futures.
July 2, 2007... NATURAL GAS FUTURES Trading Dates: June 25-June 29, 2007 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Thursday Last Volume Last Volume Last...

Petrohawk lifts curtain on plan putting Permian assets into MLP.
July 2, 2007... Petrohawk Energy has become the latest US oil and gas producer to jump on the master limited partnership bandwagon, unveiling plans last week to place some of its Permian Basin assets in a newly created upstream MLP. The company also...

North American weekly gas storage.
July 2, 2007... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Jun. 22 Jun. 15 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1224 ...

Natural gas bidweek prices.
July 2, 2007... NATURAL GAS BIDWEEK PRICES Flow Dates: 7/1-7/31 July Chg. Prev. Avg. from Bid- Price Point $/MMBtu Prev. High...

Citygate prices.
July 2, 2007... CITYGATE PRICES August Chg. Prev. Avg. from Bid Price Point $/MMBtu Prev. High Low Vol. Deals Week Austin, Tx. ...

LNG surge behind robust storage; pulling dollars off of NatGas price.
July 2, 2007... Although LNG still constitutes only a marginal percentage of US gas supply, it has had a palpable effect on the country's gas market this summer by propping up storage levels in the wake of diminished Canadian imports and, thereby taking...

Study: $5 gas floor in place as unconventional plays' costs rise.
July 2, 2007... Analysts at John S. Herold see little hope for a return to the consumer-friendly days of sub-$5 natural gas, noting that US gas production peaked in 2001, and since then has been dropping off about 1.2% annually, despite the fact that the...

Federal court upholds FERC's authority on market-based rates.
July 2, 2007... A day after the Federal Energy Regulatory Commission released reforms to its market-based rate standards, the US Court of Appeals rejected a challenge by consumer advocates to the commission's ability to authorize market-based rates for...

NGW's monthly weighted averages.
July 2, 2007... NGW'S MONTHLY WEIGHTED AVERAGES S/MMBtu Price Point Jun-07 May-07 Apr-07 Mar-07 Feb-07 Jan-07 Gulf Coast ANR SE 7.37 7.63 7.53 7.04 7.92 6.22 Col. Gulf--Erath 7.36 7.59...

US nuclear design hodgepodge Hampers future.(CURRENT)
July 2, 2007... Maybe it's primarily spin, but this country's nuclear industry apparently makes lemonade out of lemons. With the current administration's push for nuclear power, the US nuclear industry is emphasizing it has learned from its mistakes. On...

PJM OKs upgrades, transmission lines.(CURRENT)
July 2, 2007... The traffic cops on Texas' electric grid--the Electric Reliability Council of Texas (Ercot)--are not the only progressive transmission planning organization. The state has made a big splash with its "go West, young lineman" atmosphere, once SB...

Spanish mega-utility Iberdrola makes Bid for Energy East Corp.(CURRENT)
July 2, 2007... Spain's Iberdrola last week said it would pay $4.5 billion for Energy East Corp., a Northeast utility holding company, further increasing its presence of Europe's third-largest utility in the US. Iberdrola said it would pay $28.50 per...

Spot electricity trading.(CURRENT)
July 2, 2007... SPOT ELECTRICITY TRADING Trading Dates: June 25-June 29, 2007 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Comparative fuel prices.(CURRENT)
July 2, 2007... COMPARATIVE FUEL PRICES (Cash Market) July 2, 2007 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $45.00/ton $7.20/MMBtu $1.88/MMBtu EAST COAST New...

Cera study: unconventional gas expensive, vital future supply.(Regional Market Roundup)
July 2, 2007... The shift to drilling for unconventional gas plays will have a price according to study released last week by the Cambridge Energy Research Associates (Cera) and IHS. The study concluded that continued strong market prices will be...

Baker Hughes rig count.
July 2, 2007... BAKER HUGHES RIG COUNT Week Ended Jun. 29 Rotary Rigs Current Previous Year Week Week Ago Total US 1,775 1,771 1,666 Land ...

Gas price trends.
July 2, 2007... GAS PRICE TRENDS ($/MMBtu) TEXAS CALIFORNIA ROCKY NEW Gulf Coast Gulf Coast South North MTNS MEXICO Offshore Onshore ...

Saskatchewan touts potential of province's vast energy reserves.(Canadian Markets)
July 2, 2007... Saskatchewan wants the world to know that it's playing more than just second fiddle to Alberta. Though it is Canada's second largest oil-producing province--Alberta is number one--it is also the country's third largest natural gas producing...

Conoco, Exxon will exit Orinoco projects; failed to reach terms.(World Roundup)
July 2, 2007... US majors Exxon Mobil and ConocoPhillips will exit their two multi-billion dollar projects in Venezuela's Orinoco river belt after failing to accept government-imposed terms for transferring majority ownership to the state. Meanwhile, four...

Canadian price report.
July 2, 2007... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas Eastport ...

Hot, stormy summer forecasts beginning to look cooler, calmer.
July 2, 2007... In case you hadn't noticed, some of the more overtly bullish signals for summer are being decidedly toned down. Everywhere you look, concerns over summer heat, hurricanes and the adequacy of the storage refill are beginning to wane, though no...

Gas price report.
July 2, 2007... GAS PRICE REPORT ($/MMBtu--Spot) July 2, 2007 Interstate Intrastate Delivered Delivered Wellhead Wellhead To Pipeline To Utility Bid ...

Natural gas weekly spot prices.
July 9, 2007... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 7/3-7/9 Avg. Avg. Jul. Price Daily Daily Bid Point $/MMBtu Chg....

NatGas prices not only factor in exports slowdown from Canada.
July 9, 2007... If $7.50 to $8 natural gas prices won't entice Canadian producers to ratchet up US exports, then certainly $6.50 isn't going to cause much of a stir. Yet, with recent US gas prices maintaining a healthy margin for producers, you have to wonder...

Leadership keeping Venezuela, Iran out of global LNG trading.
July 9, 2007... Venezuela, Russia and Iran have some of the largest natural gas reserves in the world, but of the three, only Russia is considered a viable player in the world's LNG industry. "Venezuela could be a huge player," said David E. Roberts Jr.,...

Additional downside for August natural gas contract seen limited.
July 9, 2007... There's no argument that catalysts supporting higher natural gas prices have been far and few between with unusually wet and cool weather squelching demand in the Eastern US for the last several weeks. But it looks like the tide might be...

Linn Energy doubling size with $2 billion Dominion agreement.
July 9, 2007... Houston-based Linn Energy has agreed to pay $2.05 billion for the Midcontinent exploration and production assets of Dominion Resources. Chief Executive Michael Linn noted that the transaction with Dominion--Linn's largest to date--will...

Report issued.(Late news)
July 9, 2007... Report issued: The current development cycle for the nation's interstate natural gas pipeline industry is basically credit neutral, according to a report issued today by New York City-based Fitch Ratings. In its report, Interstate Natural Gas...

Agreement reached.(Late news)
July 9, 2007... Agreement reached: UK National Grid (NG) expects its acquisition of US utility KeySpan to be completed in just over a month, after an agreement in principle was reached with staff of the New York State Department of Public Service and other...

Plug pulled.(Late news)
July 9, 2007... Plug pulled: A group of Florida utilities is suspending the permitting process for the $2 billion Taylor Energy Center, citing concerns over greenhouse emissions that would be produced by the 800 MW coal-fired plant, which was to be built in...

Oneok buys Kinder Morgan NGLs North System; $300 M agreement.
July 9, 2007... After a $300-million deal last week with Kinder Morgan Energy Partners, Oneok Partners has expanded its footprint in the natural gas liquids market. Oneok will receive a 1,600-mile interstate pipeline system that delivers natural gas...

US LNG imports hit record in 2nd qtr; Algeria gaining ground.
July 9, 2007... The US saw its heftiest LNG import levels ever in the second quarter with 3.2 billion cubic feet per day entering the country, according to US Department of Energy data and estimates from the US Waterborne LNG Report. In fact,...

Intrastate weekly spot prices.
July 9, 2007... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 7/3-7/9 Avg. Avg. Jul. Price Daily Daily Bid Point $/MMBtu Chg. High Low...

Global LNG pricing increasingly linked to ultra-liquid Henry Hub.
July 9, 2007... Thanks to the country's liquid and transparent gas market, the US benchmark gas price at Henry Hub in the gas producing region of Louisiana near Trunkline's Lake Charles receiving terminal has crystallized in recent years into the basis for US...

Prices and differentials for major hubs and selected city gates.
July 9, 2007... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES July 9, 2007 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 7/2 7/3 7/4 7/5 7/6 HH-NY +0.37...

Gas analyzers to clean power unit among recent innovations.
July 9, 2007... One of the major concerns during the liquefaction phase into LNG is the presence of water or carbon dioxide (CO2). Even trace amounts "can threaten the integrity of processing equipment during compression and liquefaction of the natural gas due...

North American weekly gas storage.
July 9, 2007... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Jun. 29 Jun. 22 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1278 ...

Pure LNG plays hard to come by; still investment options abound.
July 9, 2007... Although the global LNG industry is growing at a rapid pace, "pure LNG plays" allowing small-scale equity investors to tap into this lucrative market remain few and far between. Opportunities are particularly scarce on the liquefaction side,...

Natural gas futures.
July 9, 2007... NATURAL GAS FUTURES Trading Dates: July 2-July 6, 2007 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Thursday Last Volume Last Volume Last...

Pipeline capacity utilization.
July 9, 2007... PIPELINE CAPACITY UTILIZATION July (2007) July (2006) Location FlowDate Flow Month-to-Date Month-to-Date Transco Zone 6 NY 7/5/2007 1,422,346 1,324,377 1,617,316...

NW transmission projects to be keyed to wind.(CURRENT)
July 9, 2007... Wind power is blowing life into a once-stalled transmission expansion plan in the Pacific Northwest. When plans for some natural gas plants fell through--having been proposed in the region in the aftermath of the Western energy crisis of...

Nukes see huge drop in operating costs.(CURRENT)
July 9, 2007... US nuclear plants have had a good run in recent years, after a rocky start resulting not only from public opposition, but also technical and operational problems related to the hodgepodge of designs that distinguish the US industry from a more...

Crossborder Matl line linking oil sands to Montana gets funds.(CURRENT)
July 9, 2007... The planned 215-mile, 230-kV Montana Alberta Tie Ltd. (Matl) transmission line, stretching from the oil sands in Lethbridge, Alberta, to Great Falls, Montana, has moved a step closer to fruition, as its developer recently arranged for as much...

Spot electricity trading.(CURRENT)
July 9, 2007... SPOT ELECTRICITY TRADING Trading Dates: July 2-July 6, 2007 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT Week ...

Comparative fuel prices.(CURRENT)
July 9, 2007... COMPARATIVE FUEL PRICES (Cash Market) July 9, 2007 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $44.50/ton $6.76/MMBtu $1.85/MMBtu EAST COAST New...

Pine Prairie begins open season for La. salt cavern storage site.(Regional Market Roundup)
July 9, 2007... Pine Prairie Energy Center is conducting a non-binding open season for an additional 16 billion cubic feet of natural gas storage capacity. Houston-headquartered Pine Prairie said it intends to file an application for this Phase II...

Baker hughes rig count.(Regional Market Roundup)
July 9, 2007... BAKER HUGHES RIG COUNT Week Ended Jul. 6 Rotary Rigs Current Previous Year Week Week Ago Total US 1,752 1,775 1,659 Land ...

Gas price trends.(Regional Market Roundup)
July 9, 2007... GAS PRICE TRENDS ($/MMBtu) TEXAS CALIFORNIA ROCKY NEW Gulf Coast Gulf Coast South North MTNS MEXICO Offshore Onshore Jul 9, 2007 ...

Ziff energy report forecasting huge change for eastern Canada.(Canadian Markets)
July 9, 2007... Ziff Energy Group already had a fairly pessimistic forecast covering estimated Canadian natural gas exports to the US over the coming decade (NGW Jun.18, p12). Its most recent outlook is even more negative, and that is putting the most...

Statoil eyes Norwegian LNG for expansion capacity at cove point.(World Roundup)
July 9, 2007... Statoil is building up its US gas marketing operations in anticipation of first shipments from Norway's long-awaited Snohvit LNG project late this year and the expansion of the Cove Point, Maryland, LNG receiving terminal and regasification...

Canadian price report.(World Roundup)
July 9, 2007... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ ALBERTA Total Sumas Eastport...

Raymond James lowers '07 price; summer supply outlook stronger.
July 9, 2007... In this market, you have to be careful about linking deteriorating fundamentals with a pending price downturn, even given the overwhelmingly bearish conditions of late (NGW Jul.2,p20). But when the ever-bullish analysts at Raymond James...

Gas price report.
July 9, 2007... GAS PRICE REPORT ($/MMBtu--Spot) July 9, 2007 Interstate Intrastate Delivered Delivered Wellhead Wellhead To Pipeline To Utility Bid ...

Natural gas weekly sport prices.
July 16, 2007... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 7/10-7/16 Avg. Avg. Jul. Price Daily Daily Bid Point $/MMBtu Chg....

US gas storage expected to reach record levels by season's end.
July 16, 2007... Unless intense summer demand emerges quickly and US Gulf of Mexico production takes a huge hit from hurricanes, US natural gas storage appears on track to set new records at the end of the refill season. "Weather is the key to demand, but so...

Report: REX to change the face of US Intrastate pipeline industry.
July 16, 2007... A recent report released by Fitch Ratings asserts that the US interstate pipeline industry has entered a period of increasing change and uncertainty. One major change on the way is the $4.4 billion, 1,663-mile Rockies Express (REX) pipeline....

August NatGas aimed at $7 amid bullish weather, mixed technicals.
July 16, 2007... After a couple of weeks of Nymex August gas futures prices oscillating in the $6 range, it appears the fundamentals are beginning to shift more toward the bullish side of the spectrum. Summer heat is finally making its debut, and with the...

Senators lift curtain on legislation pushing cap-and-trade system.
July 16, 2007... Top senators in the energy policy debate unveiled far-reaching legislation last week designed to reduce greenhouse gas emissions through a mandatory cap-and-trade system. The Low Carbon Economy Act of 2007, sponsored by Sens. Jeff Bingaman...

US House says no to gas cartel.
July 16, 2007... The US House of Representatives passed a resolution late Wednesday opposing the establishment of a natural gas cartel. The resolution was sponsored by Rep. Ileana Ros-Lehtinen (R-Florida), the top Republican on the Foreign Affairs Committee,...

Senate panel continues probe into OTC energy market trading.
July 16, 2007... A Senate investigative panel early last week continued its probe into the effect on energy markets of "excessive speculation" in over-the-counter trading. The Senate Committee on Homeland Security and Governmental Affairs' Permanent...

Intrastate weekly spot prices.
July 16, 2007... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 7/10-7/16 Avg. Avg. Jul. Daily Daily Bid Price Point $/MMBtu Chg. High Low...

Higher operating costs starting to hit independents' bottom line.
July 16, 2007... Most independent oil and gas producers are expected to report a moderate year-on-year decline in second-quarter earnings over the next few weeks, reflecting escalating costs which have started to gnaw away at their margins. Commodity...

Prices and differentials for major hubs and selected city gates.
July 16, 2007... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES July 16, 2007 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 7/9 7/10 7/11 7/12 7/13 HH-NY ...

New programs studied to combat acute worldwide worker shortages.
July 16, 2007... From Ohio to Wyoming to Scotland, governments and the energy industry are studying new and innovative ways of trying to stop the ever-increasing loss of seasoned workers. "We need skilled workers," said Rhonda Reda with the Ohio Oil and...

North American weekly gas storage.
July 16, 2007... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Jul. 6 Jun. 29 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1348 ...

Mexico beefs up security after attacks on NatGas, oil pipelines.
July 16, 2007... The Mexican government boosted security at strategic oil and gas installations last week following rebel attacks that damaged state-owned oil company Pemex's pipelines and caused severe natural gas disruptions. Army members and federal...

Natural gas futures.
July 16, 2007... NATURAL GAS FUTURES Trading Dates: July 9--July 13, 2007 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume ...

Delays, tight market making LNG outlook tenuous at best.(Atlantic Basin LNG Update)
July 16, 2007... LNG project delays and an increasingly tight market could take their toll on the US' position in the global LNG marketplace. Analysts for John S. Herold showed that, on average, LNG projects faced delays of at least 3 1/2 years, either because...