Natural Gas Week articles from July 2008

Natural Gas Week archives from July 2008

Natural gas weekly spot prices.
July 7, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 7/1-7/7 Price Point $/MMBtu Chg. High Low GULF COAST ANR SE 13.03 +0.15 13.30 12.85 Col. Gulf - Erath ...

Mackenzie gas pipeline on track; detractors still questioning need.
July 7, 2008... Doubts continue to surface on the reasonable chances of success for the Mackenzie natural gas pipeline, proposed to run from the Northwest Territories in Canada toward markets in southern Canada and the US. The list of concerns keeps...

Chesapeake and Plains kick the Haynesville play into high gear.
July 7, 2008... Move over Barnett, here comes the Haynesville. Chesapeake Energy and Plains Exploration & Production announced last week that they have entered into a joint venture in the Haynesville Shale of North Louisiana and East Texas that is expected to...

Minority report implies global warming out, global cooling in.
July 7, 2008... Four scientists, four scenarios, four more or less similar conclusions without actually saying it outright--the global warming trend is done, and a cooling trend is about to kick in. The implication: Future energy price response is likely to be...

Petrohawk grabs spotlight with 'monster' Haynesville Shale well.
July 7, 2008... Petrohawk Energy turned heads last week with the announcement of its first horizontal well completion in the Haynesville Shale, which more than doubled the production rate of the previous best wells in the play. The company said its Elm...

Storm update.(Late news ...)
July 7, 2008... Storm update: The second tropical storm of the 2008 Atlantic hurricane season formed on Thursday, thousands of miles away from the US and is expected to eventually curve out northward over the open ocean. The US National Hurricane Center said...

Oregon LNG.(Late news ...)
July 7, 2008... Oregon LNG: The Federal Energy Regulation Commission has decided not to suspend review of the proposed Oregon LNG terminal, the Daily Astorian reported. However, FERC said it will look into the site control issue raised regarding a public...

CNG expands.(Late news ...)
July 7, 2008... CNG expands: Clean Energy Fuels has won a five-year contract to operate and maintain the compressed natural gas fueling facility for Metro RTA, the public transit provider for the city of Akron and Summit County, Ohio. The fueling facility...

San Juan Basin remains top gas region decades after discovery.
July 7, 2008... The dry, high desert of the San Juan Basin covers 4,600 square miles across the northwestern corner of New Mexico and carries over into the southwestern corner of Colorado. The rugged region may not suggest that an ocean ever was in the...

Intrastate weekly spot prices.
July 7, 2008... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 7/1-7/7 Avg. Avg. Jul. Price Daily Daily Bid Point $/MMBtu Chg....

Dominion inks Appalachian Basin deals for assets, new gas pipeline.
July 7, 2008... Dominion Resources has signed a $552 million deal to transfer drilling rights on a large portion of its Marcellus Shale leasehold in the Appalachian Basin to privately owned Antero Resources. The deal applies to drilling rights for the...

Prices and differentials for major hubs and selected city gates.
July 7, 2008... [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 6/29 6/30 7/1 7/2 7/3 HH-NY +1.02 +0.90 +0.89 +1.09 +0.65 HH-Chicago -0.10 -0.13 -0.12 -0.20 -0.41 AECO-CHIC +1.43 +1.52...

August NatGas sets new records; trend expected to go higher still.
July 7, 2008... Nymex gas futures surged to record highs for an August contract last week, cresting Thursday at $13.694/MMBtu. With Congress content to wait on further debate about controlling commodity speculation, there is little leverage to bring sellers...

Composite spot wellhead price.
July 7, 2008... 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 2007 6.25 7.79 6.52 7.07 7.34 7.03...

Western governors draft policy suggestions for next president.
July 7, 2008... Western governors hope to influence the national energy policy of the next presidential administration by submitting their own recommendations to the White House. The effort is being led by Utah Gov. Jon Huntsman, the newly elected...

E&P deals ramping up thanks to shale plays, high energy prices.
July 7, 2008... Merger and acquisition activity has been ramping up among mid-size exploration and production companies during the past several months, according to a research note released recently by Raymond James. Fueling the fire is an under-pricing of...

Natural gas futures.
July 7, 2008... NATURAL GAS FUTURES Trading Dates: June 30 - July 3 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume...

GAO: rising prices could help offset billions in missed royalties.
July 7, 2008... New research from the US Government Accountability Office reveals that rising natural gas and oil prices will help offset the amount of money the government stands to lose from nulled royalty payments associated with offshore production in the...

North American weekly gas storage.
July 7, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Jun. Jun. Weekly Year Yr. 5-year 5-year 27 20 Change Ago Ago Average Change Region Week Week Change US ...

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

NGW's monthly weighted averages.
July 7, 2008... NGW'S MONTHLY WEIGHTED AVERAGES $/MMBtu Price Point Jun-08 May-08 Apr-08 Mar-08 Gulf Coast ANR SE 12.59 11.21 10.20 9.41 Col. Gulf - Erath 12.50...

FERC: demand response reins in energy prices.(CURRENT)
July 7, 2008... No matter where you are in the supply chain, you've found yourself wondering when energy costs will stop their meteoric climb. But whatever your station, remind yourself you're not a western utility that signed desperate long-term contracts...

Northeast US power grid getting some badly needed transmission.(CURRENT)
July 7, 2008... Incremental but promising progress is being made, transmission-wise, in the Northeast US, with a couple of recently announced developments. Both bolster reliability on the grid, and the timing couldn't be better, as the fifth anniversary of...

Low-carbon Loan Program begins anew.(CURRENT)
July 7, 2008... In its second round of solicitations so far in its Loan Guarantee Program, the US Department of Energy is offering up billions in federal loan guarantee projects that employ "advanced energy technologies that avoid, reduce or sequester air...

Spot electricity trading.(CURRENT)
July 7, 2008... SPOT ELECTRICITY TRADING Trading Dates: June 30-July 3, 2008 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Coal plant breaks ground; biomass included.(CURRENT)
July 7, 2008... If a coal-fired plant can't make it in Virginia, where can it these days? Richmond-based Dominion Resources subsidiary Dominion Power Virginia is sweetening the pot for its new $1.8 billion Virginia City Hybrid Energy Center by including plans...

Comparative fuel prices.(CURRENT)
July 7, 2008... COMPARATIVE FUEL PRICES (Cash Market) July 7, 2008 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $129.50/ton $13.80/MMBtu $5.40/MMBtu ...

Governors to discuss US energy future at Centennial Conference.(Regional Market Roundup)
July 7, 2008... Energy issues will be front and center when the nation's governors meet this week in Philadelphia for the National Governors Association Centennial Meeting. A key part of the agenda is an examination of policy options to address the...

Baker hughes rig count.(Regional Market Roundup)
July 7, 2008... [ILLUSTRATION OMITTED] BAKER HUGHES RIG COUNT Week Ended Jul. 2 Rotary Rigs Current Previous Year Week Week Ago Total US 1,921 1,913...

Gas price trends.(Regional Market Roundup)
July 7, 2008... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO South North Jul 7, 2008 Inter (well) -- -- 9.22 10.53...

Nuclear project seen as cure for coming Alberta Energy shortfall.(Canadian Markets)
July 7, 2008... Bruce Power Chief Executive Duncan Hawthorne is on a mission to get Canada's first new nuclear power plant online in Alberta. The initial proposal by Energy Alberta (EA) was for a 2,200-MW, twin-reactor plant near Peace River. That proposal has...

Spain seeing surplus LNG influx as strong hydro displaces NatGas.(World Roundup)
July 7, 2008... The Spanish market that was so thirsty for LNG last winter is now facing a surplus of gas to cover its summer needs because of a strong hydro market. Still, companies are hesitant to divert supply to the US and other markets due to an...

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

Exxon head touts Qatar LNG projects.(World Roundup)
July 7, 2008... Joint ventures in Qatar in which Exxon Mobil participates will start up projects over the next two years that will bring more LNG to market than any other international oil company, Exxon Chief Executive Officer Rex Tillerson said at the 19th...

Debate growing over speculative influence in commodity markets.
July 7, 2008... It has been true for centuries. Whenever the powers-that-be have been unable or unwilling to deal with the fundamentals of a commodity, they begin pointing to the evil influence of "speculators." And with commodity prices soaring to...

Natural gas weekly spot prices.
July 14, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 7/8-7/14 Price Point $/MMBtu Chg. High Low GULF COAST ANR SE 12.27 -0.77 13.00 11.75 Col. Gulf - Erath ...

Goldman, Raymond James outlook bad for NatGas bulls, not bears.
July 14, 2008... Goldman Sachs is raising the likelihood that North American natural gas markets can be self-sufficient over a multiyear period. The reason: shale, coalbed methane and tight sand plays are popping up like mushrooms from the Northeast to West...

Report: Pennsylvania Marcellus Shale on track for big leagues.
July 14, 2008... Before the Haynesville Shale of North Louisiana and East Texas came along and stole its thunder, the Marcellus Shale of the Appalachian Basin was the hottest new North American shale gas play on the market. Yet while the fervor surrounding...

Gas futures disconnect; August falls as crude rallies to record.
July 14, 2008... Two months ago, a consensus was forming around the notion that $120 crude would prove the death knell of the global economy and the stock market. That well may be, once all the hedges roll off, but for now oil is poised to take out $150/bbl....

T. Boone Pickens uses COGA as bully pulpit for NGV campaign.
July 14, 2008... It was election season 1996, and energy entrepreneur T. Boone Pickens struck a likely agreement with then-presidential candidate Bob Dole: to chair campaign efforts in Texas, in trade for an appointment to national energy advisor--if they...

OCS regulations.(Late news ...)
July 14, 2008... OCS regulations: The Minerals Management Service has created the Office of Offshore Alternative Energy Programs to oversee alternative energy developments in the Outer Continental Shelf. The organization would issue offshore leases and regulate...

LNG expansion.(Late news ...)
July 14, 2008... LNG expansion: Chevron is planning to triple the production capacity of its proposed Wheatstone LNG project off western Australia to 2 billion cubic feet per day. Expansion plans for the project came after a significant gas extension was found...

Alaska scandal.(Late news ...)
July 14, 2008... Alaska scandal: A federal grand jury in Alaska has handed down a two-count indictment for bribery and conspiracy against sitting state Senator John Cowdery in an ongoing Justice Department investigation into the oil industry's political...

SEC settlement.(Late news ...)
July 14, 2008... SEC settlement: El Paso has settled charges that it fraudulently overstated oil and gas reserves without having to pay a fine or admit or deny the charges. The US Securities and Exchange Commission said former employees estimated reserves...

Conoco's San Juan best practices yield strong green, safety gains.
July 14, 2008... If the current cable television show based on life in the oil patch is any indication, portraying oil and gas fields as dirty and dangerous places must play well with viewers. Yet, ConocoPhillips has developed a series of best management...

Intrastate weekly spot prices.
July 14, 2008... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 7/8-7/14 Avg. Avg. Jul. Price Daily Daily Bid Point $/MMBtu Chg....

Prices and differentials for major hubs and selected city gates.
July 14, 2008... [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 7/7 7/8 7/9 7/10 7/11 HH-NY +1.13 +1.04 +0.94 +0.88 +0.83 HH-Chicago -0.06 -0.11 -0.11 -0.07 -0.11 AECO-CHIC +0.88 +1.78...

Quicksilver snags core Barnett assets; production jump expected.
July 14, 2008... Quicksilver Resources has entered into a $1.3 billion cash-and-stock deal with a group of private companies to acquire producing properties, leasehold and midstream assets in the Barnett Shale of North Texas. The deal is expected to boost the...

North American weekly gas storage.
July 14, 2008... NORTH AMERICAN WEEKLY GAS STORAGE Jul. Jun. Weekly Year Yr. 5-year 5-year 4 27 Change Ago Ago Average Change Region Week Week Change US East 1177 1116 ...

EIA issues another revision to 2008 natural gas demand outlook.
July 14, 2008... The US Energy Information Administration issued another revision to its short-term energy outlook, predicting Henry Hub natural gas spot prices will average $11.86 per thousand cubic feet this year, a 65% increase over its average price of...

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

Pipeline capacity utilization.
July 14, 2008... PIPELINE CAPACITY UTILIZATION Location FlowDate Flow July (2007) July (2006) Month-to-Date Month-to-Date Transco Zone 6 NY 7/11/2008 1,380,040 1,399,555 ...

Efficiency programs expanding to include gas.(CURRENT)
July 14, 2008... Energy efficiency programs aren't just for electric utilities and governmental buildings these days. With the Virginia General Assembly's recent passage of the Natural Gas Conservation and Ratemaking Efficiency Act, more than half of US...

Cap-and-trade key to states' strategies.(CURRENT)
July 14, 2008... In the absence of a national carbon policy, several states recently proceeded apace in their own strategies to reduce greenhouse gas emissions (GHG)--and despite the questionable ability to actually reduce such emissions, all include provisions...

Gas need drops as nation's nuke fleet surges to near top capacity.(CURRENT)
July 14, 2008... Acting as living testimony to the Bush administration's dream of expanding nuclear power generation, the nation's fleet showed almost a 100% attendance rate late last week. Apparently, none of the 104 operating units are undergoing major...

North Carolina firms embracing green.(CURRENT)
July 14, 2008... Two recent developments in North Carolina may not have a direct impact on regional electricity consumers' rates or lungs, but they'll contribute to economic growth. Duke Energy Generation Services (DEGS), a subsidiary of Charlotte-based...

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

Venture closes on Texas cogen plant.(CURRENT)
July 14, 2008... Global Infrastructure Partners, an independent fund based in Stamford, Connecticut, and New York's Fortistar have closed on the 830-MW, natural-gas fired cogeneration facility in Channelview, near Houston. The sale of the facility, from...

Comparative fuel prices.(CURRENT)
July 14, 2008... COMPARATIVE FUEL PRICES (Cash Market) July 14, 2008 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $124.00/ton $12.99/MMBtu $5.17/MMBtu...

BHP Billiton starts deep-Gulf gas production; Neptune hull repaired.(Regional Market Roundup)
July 14, 2008... Australian firm BHP Billiton reports that first oil and natural gas production has started from the Neptune development in the deepwater Gulf of Mexico. The standalone, tension-leg, 5,900-ton structure is designed to handle up to 50,000...

Baker Hughes rig count.(Regional Market Roundup)
July 14, 2008... [ILLUSTRATION OMITTED] BAKER HUGHES RIG COUNT Week Ended Jul. 11 Rotary Rigs Current Previous Year Week Week Ago Total US 1,922 1,921...

Gas price trends.(Regional Market Roundup)
July 14, 2008... GAS PRICE TRENDS ($/MMBtu) ROCKY MTNS NEW MEXICO CALIFORNIA South North Jul 14, 2008 Inter (well) -- -- 9.03 10.00...

Western Canadian NatGas storage rising while exports to US decline.(Canadian Markets)
July 14, 2008... Some of the natural gas production and operating statistics coming out of Western Canada these days don't seem quite logical, according to reports from Calgary-based investment bank FirstEnergy Capital. June's natural gas output was down...

Conoco, Adnoc agree to develop Abu Dhabi's Shah sour gas field.(World Roundup)
July 14, 2008... Abu Dhabi National Oil Co. (Adnoc) has signed an interim agreement with ConocoPhillips to develop the onshore Shah gas field. A final deal on the $10 billion project should be inked by year-end, according to a statement carried by the state...

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

Analysts: summer gas price risk intractably skewed toward rise.
July 14, 2008... As high as natural gas prices have been, one doesn't get the impression from analysts that the worst is over. In the words of Stephen Smith of Natchez, Mississippi-based Stephen Smith Energy Associates, "summer price risk still skewed to...

Natural gas weekly spot prices.
July 21, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 7/15-7/21 Price $/MMBtu Chg. High Low Avg. Avg. Jul. Point Daily Daily Bid ...

Report: Haynesville may surpass Barnett output within five years.
July 21, 2008... Production from the Haynesville Shale of North Louisiana and East Texas has the potential to surpass the current output from the prolific Barnett Shale of North Texas within the next five years, according to a report released last week by...

Offshore LNG terminals gaining traction, both in US and abroad.
July 21, 2008... LNG terminal developers are getting increasingly serious about going offshore as a way to fast-track the approval process, reduce local opposition, and ease safety concerns, although compared to onshore facilities, LNG deepwater ports are not...

Crossroads: natural gas poised for downside, resume record rise.
July 21, 2008... Energy futures appeared to stabilize Friday as tropical uncertainly gave the natural gas and crude markets some fundamental support after a week of staggering losses. While the three-day $16 plunge in oil prices took the spotlight, natural...

Alaska legislature nears vote on TransCanada pipeline proposal.
July 21, 2008... Alaska lawmakers are expected to vote as early as this week on whether to award TransCanada a state license to build a $26 billion natural gas pipeline. State legislators have been wrestling with the TransCanada proposal in special session...

Drilling veto.(Late news ...)
July 21, 2008... Drilling veto: The White House on Thursday threatened to veto legislation being considered by the US House of Representatives that would force oil companies to give up undrilled federal leases and ban the export of crude drilled in Alaska. The...

Lease sale.(Late news ...)
July 21, 2008... Lease sale: The Minerals Management Service will hold the next federal offshore oil and gas lease sale for the Gulf of Mexico in New Orleans on Aug. 20. Sale 207 will encompass about 3,400 unleased blocks covering some 18 million acres in the...

Nymex takeover.(Late news ...)
July 21, 2008... Nymex takeover: CME Group, the world's largest derivatives exchange, has revised details of its plan to buy Nymex Holdings in a drive to win over critics who have threatened to sink the deal. CME is offering an extra $110 million for the...

FERC moves to delay Bradwood Landing vote; needs review time.
July 21, 2008... The Federal Energy Regulatory Commission delayed a vote on whether to issue final approvals for the proposed Bradwood Landing LNG terminal just two days before it was scheduled to take place at the commission's Thursday meeting. According...

Intrastate weekly spot prices.
July 21, 2008... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 7/15-7/21 Price $/MMBtu Chg. High Low Avg. Avg. Jul. Point Daily Daily Bid ...

Bentek CEO: Gulf, Rockies pipes could be pushed beyond capacity.
July 21, 2008... The US certainly hasn't been shirking its ability to produce abundant domestic supplies of natural gas, particularly in recent months and years. The dilemma is that rising production is concentrated in two overloaded regions: The rural...

Prices and differentials for major hubs and selected city gates.
July 21, 2008... SELECTED DAILY DIFFERENTIALS Differential 7/14 7/15 7/16 7/17 7/18 HH-NY +1.02 +1.31 +2.15 +2.32 +1.64 HH-Chicago +0.01 +0.05 +0.11 +0.06 -0.11 AECO-CHIC +1.62 +1.72 +1.66 +1.50 +1.50 AECO-PG&E...

Supermajor BP jumping aboard shale train with Chesapeake deal.
July 21, 2008... After sitting quietly on the sidelines for several years, the major oil companies finally appear ready to become bigger participants in US shale plays. BP said last week it will pay Chesapeake Energy $1.75 billion for 90,000 net acres of...

Nexen boosts capex to fund gas development in Western Canada.
July 21, 2008... Calgary-based independent Nexen said Thursday that it will boost its 2008 capital expenditures by between $600 and $800 million, most of which will go toward the acceleration of its shale gas development in the Horn River Basin of British...

North American weekly gas storage.
July 21, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Jul. 11 Jul. 4 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1245...

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

US need for LNG could diminish before ramp up in 2012, beyond.(LNG Update)
July 21, 2008... Although the gap between North American gas prices and the world oil market has narrowed in recent months, growing US supplies are likely to shield the nation's market from falling into lockstep with global LNG prices--at least for the next...

Prices for major Atlantic basin LNG hubs.(LNG Update)
July 21, 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...