Natural Gas Week articles from June 2006

Natural Gas Week archives from June 2006

Natural gas weekly spot prices.
June 5, 2006... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 5/30-6/5 Avg. Avg. Jun. Price Daily Daily Bid Point $/MMBtu Chg....

Playing chicken: gas intensive end-users mulling winter hedges.
June 5, 2006... With prompt-month natural gas futures prices recently falling below $6/MMBtu in mid-May, the hedging interests of some gas intensive industrial end-users have been peaked as forward-month prices have not been this low since February 2005....

CenterPoint, Duke propose next pipe as US replumbing continues.
June 5, 2006... Nothing indicates growing gas production in a given region more than proposals to build new pipelines to transport the badly needed fuel supplies to markets elsewhere. And nothing indicates that markets don't believe that other sources of gas...

Lackluster June bidweek ushers in July fireworks as markets rally.
June 5, 2006... Bidweek trading for June in the natural gas industry proved to be fairly sluggish and quiet as books closed on May as reflected by much lighter-than-usual volumes, while ranges at most points were un-typically tight. Many traders attributed the...

Industry, agencies make strides preparing for the next big blow.
June 5, 2006... Just 48 hours prior to the official start of the 2006 hurricane season, industry and government officials spoke about what improvements have been made since 2005's unparalleled hurricane season. "There has been unprecedented attention given...

More leases acquired.(Late news ...)
June 5, 2006... More leases acquired: Dune Energy said Friday it acquired additional leaseholds in Texas for $5.5 million as part of an existing sale agreement. Dune said the purchase price is worth $1.19/Mcf of natural gas equivalent of net proved reserves....

Power plan unveiled.(Late news ...)
June 5, 2006... Power plan unveiled: Duke Energy on Friday said it has filed an application with state officials to build two 800-MW baseload coal units on the site of its Cliffside Steam Station plant in North Carolina. The company said its Duke Energy...

Pipeline plans finalized.(Late news ...)
June 5, 2006... Pipeline plans finalized: Oneok said Friday it had completed the transactions needed to form a natural gas liquids pipeline (NGL) joint venture with Williams that was announced in early May. Overland Pass Pipeline plans to develop a $450...

Appalachian Basin storage field offers strategic deliverability.
June 5, 2006... As the old saying goes, build a better mousetrap and the world will beat a path to your door. At Houston-based eCORP, they have taken a different approach to that saying and developed a different way of storing natural gas. Using...

Intrastate weekly spot prices.
June 5, 2006... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 5/30-6/5 Avg. Avg. Jun. Price Daily Daily Bid Point $/MMBtu Chg. High Low...

NGSA sees calm summer market, burgeoning storage to 3,500 Bcf.
June 5, 2006... In its annual Summer Outlook, the Natural Gas Supply Association (NGSA) sees this cooling season as finally providing a break in the feverish pace of natural gas prices over the last few years. Though, admittedly, there's the possibility that...

Prices and differentials for major hubs and selected city gates.
June 5, 2006... June 5, 2006 US$/MMBtu, Volume-Weighted [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 5/29 5/30 5/31 6/1 6/2 HH-NY +0.46 +1.00 +0.62 +0.52 +0.51 HH-Chicago -0.26 -0.06...

Speaker: climate change helping spark wave of regulations, plans.
June 5, 2006... The energy industry is facing a growing storm of state, local and federal regulations that are often at odds with each other but all with one purpose--curb global warming and with it, climate change. "Climate change policy is a business...

Composite spot wellhead price.
June 5, 2006... COMPOSITE SPOT WELLHEAD PRICE January 2002 to Present ($/MMBtu) Year Jan. Feb. March April May June July August Sept. Oct. 2006 8.20 7.30 6.47 6.61 5.93 2005 6.05 5.99 6.77 6.99 6.26 6.91 7.50 8.99...

Storage plays overcoming weak US netbacks in attracting LNG.
June 5, 2006... The US is currently offering LNG exporters the lowest netbacks in the world, with front-month Henry Hub futures prices stuck in a relatively low $6 to 7/MMBtu range. Yet the swing US terminal at Lake Charles, Louisiana, was on track to receive...

Natural gas futures.
June 5, 2006... NATURAL GAS FUTURES Trading Dates: May 30 - June 2, 2006 NEW YORK MERCANTILE EXCHANGE (NYMEX)(HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume...

New generation of 'smart tool' components can take the heat.
June 5, 2006... The US Department of Energy has announced a breakthrough in efforts to develop "smart tools" capable of withstanding the extreme high temperatures encountered in drilling deep gas wells. Engineering firm Honeywell has successfully tested...

Grant Prideco puts DOE-funded project into commercial drilling.
June 5, 2006... New drilling technology that allows a surface operator to get real-time data on everything from pressure to the type of geological formations the drill bit is pushing through has entered commercial service--turning the drill pipe itself into an...

North American weekly gas storage.
June 5, 2006... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) May 26 May 19 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1169 ...

Natural gas bidweek prices.
June 5, 2006... NATURAL GAS BIDWEEK PRICES Flow Dates: 6/1-6/30 June Chg. Prev. Price Avg. from Bid- Point $/MMBtu Prev....

Jack-up rigs leaving US Gulf searching for bigger paydays.
June 5, 2006... With more than 1,000 leases on the Gulf of Mexico shelf set to expire over the next three years, exploration and production companies may be hard-pressed to find a rig to drill a well before time runs out. Jack-up rigs are leaving the Gulf...

NGW's monthly weighted averages.
June 5, 2006... NGW'S MONTHLY WEIGHTED AVERAGES $/MMBtu Price Point May 06 Apr.'06 Mar.'06 Feb.'06 Jan.'06 Gulf Coast ANR SE 6.15 6.94 6.66 7.35 8.40 Col. Gulf - Earth 6.16 7.05 ...

Moonshine: clean power for global prosperity.(CURRENT)
June 5, 2006... Since oil topped the $70 mark, interest in alternative energy has skyrocketed. But, it takes a rocket scientist to come up with the idea of using "solar moonbeams" to power the Earth. And while it seems a bit far-fetched, this is exactly...

Swepco plans to add clean coal, gas generation to portfolio mix.(CURRENT)
June 5, 2006... An American Electric Power (AEP) subsidiary wants to invest $1.4 billion to build new natural gas and coal plants in the South. Southwestern Electric Power Company (Swepco) serves 439,000 customers in Louisiana, Arkansas and East Texas. The...

Spot electricity trading.(CURRENT)
June 5, 2006... SPOT ELECTRICITY TRADING Trading Dates: May 30-June 2, 2006 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Comparative fuel prices.(CURRENT)
June 5, 2006... COMPARATIVE FUEL PRICES (Cash Market) June 5, 2006 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $51.00/ton $6.44/MMBtu ...

Kinder Morgan senior management make bid to take company private.(Regional Market Roundup)
June 5, 2006... With a group of the senior management behind him, Richard D. Kinder, the chairman and chief executive of Kinder Morgan Inc. (KMI) has announced a $22 billion effort to take the Houston-based company private. Kinder and his partners propose...

Baker Hughes rig count.(Regional Market Roundup)
June 5, 2006... [ILLUSTRATION OMITTED] BAKER HUGHES RIG COUNT Week Ended Jun. 2 Rotary Rigs Current Previous Year Week Week Ago Total US 1,657 1,649...

Gas price trends.(Regional Market Roundup)
June 5, 2006... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO South North Jun 5, 2006 Inter (well) - - 5.01 5.06 Intra...

Natgas demand for power to soar as Ontario implements coal ban.(Canadian Markets)
June 5, 2006... Canada is no exception to growing power demand in North America. For several years, demand for clean power generation has ruled the roost, encouraging the expansion of gas-fired generation capacity, which in turn was stimulated by...

Far East Energy reports success at Chinese Coalbed Methane well.(World Roundup)
June 5, 2006... Far East Energy has achieved continuous gas flow in its first horizontal well in the Shouyang Block of its Coalbed Methane project in Shanxi Province, China. At this early stage, the volume being produced is still small and the data obtained is...

Canadian price report.(World Roundup)
June 5, 2006... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas ...

Gulf framework getting stronger to weather coming super storms.(World Roundup)
June 5, 2006... In 1989, Hurricane Hugo passed directly over my head just a few miles from where it came ashore and in the process put the fear of God in me when it comes to these massive storms. And each hurricane season since has been met with a certain...

Natural gas weekly spot prices.
June 12, 2006... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 6/6-6/12 Avg. Avg. Jun. Price Daily Daily Bid Point $/MMBtu Chg. High...

Storm damage may help Blanco in effort to derail Gulf lease sale.
June 12, 2006... In her bid to stop the scheduled August Western Gulf lease sale, Louisiana Gov. Kathleen Blanco is being helped by the two most destructive storms to hit the Bayou State in decades--hurricanes Katrina and Rita. By Wednesday, the governor...

Congressionally mandated coal safety measures bullish for gas.
June 12, 2006... Natural gas price bulls have another factor to bolster their position: recently implemented congressional mandates requiring a significant and swift upgrading of safety conditions in underground coal mines. "While these new safety measures...

Tropical storm might kick start market; Effect to be short-lived.
June 12, 2006... With a tropical system brewing in the Caribbean, the impact on futures prices is expected to be much stronger than any physical damage the nascent storm might inflict. [GRAPHIC OMITTED] This low is expected to drift north-northwest...

Conoco pulls application for Alabama offshore LNG terminal.
June 12, 2006... Bowing to concerns about its use of open-rack vaporizers for its Compass Port LNG terminal off the Alabama coast, ConocoPhillips on Friday announced it was withdrawing its application for a federal license to build the facility. Located...

Expansion plan unveiled.(Late news)
June 12, 2006... Expansion plan unveiled: Kinder Morgan Energy Partners has said it has plans for a $76 million expansion of its natural gas storage field in Liberty County, Texas. Kinder Morgan said the new underground storage cavern will add about 5.5 Bcf of...

Power commitment made.(Late news)
June 12, 2006... Power commitment made: Texas-based TXU Corp. has secured a commitment for $11 billion of nonrecourse financing to add new coal generation and launch its related subsidiary TXU DevCo, in which it will sell or swap equity interests. TXU also...

Drilling barges sold.(Late news)
June 12, 2006... Drilling barges sold: Parker Drilling Friday has executed a definitive agreement with The Shell Petroleum Development Corporation of Nigeria Ltd. to sell two drilling barges, Barge Rigs 73 and 75 and related assets located in Nigeria, for $46...

Producers, forecasters monitor developing system in Caribbean.
June 12, 2006... Energy industry and shipping interests from Brownsville, Texas, to New Orleans are keeping an eye on an area of low pressure in the western Caribbean that is slowly moving into an area of the Gulf of Mexico known to spawn tropical storms in...

Intrastate weekly spot prices.
June 12, 2006... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 6/6-6/12 Avg. Avg. Jun. Price Daily Daily Bid Point $/MMBtu Chg. High Low...

Consortium proposing yet another pipeline to access NatGas production.
June 12, 2006... Only a couple of years ago, Rocky Mountain and Midcontinent natural gas producers couldn't interest a pipeline in expanding capacity that would increase output from the delivery-constrained regions. Now, five different projects are on the...

Chesapeake adds Barnett Shale sites in $932 million asset buy.
June 12, 2006... In two separate deals valued together at $932 million, independent Chesapeake Energy last week added 67,000 acres in the Barnett Shale and up to 1.5 trillion cubic feet of natural gas reserves to its portfolio. Chesapeake Chief Executive...

Prices and differentials for major hubs and selected city gates.
June 12, 2006... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES June 12, 2006 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 6/5 6/6 6/7 6/8 6/9 HH-NY ...

North American weekly gas storage.
June 12, 2006... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Jun. 2 May 26 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1213 ...

NEB: oil sands output poised to jump threefold over next decade.
June 12, 2006... Canada's oil sands production could triple over the next decade to nearly 3 million barrels per day, according to a new report released by Canada's National Energy Board (NEB). This is a 40% increase over previous projections, which had put oil...

Wind could seize greater market share if high NatGas cost persist.
June 12, 2006... The high price of natural gas is helping clear the way for alternative power sources to increase their market share. Investment in wind power for electricity generation has been growing steadily over the last few years. With President...

Natural gas futures.
June 12, 2006... NATURAL GAS FUTURES Trading Dates: June 5-June 9, 2006 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume ...

Pipeline capacity utilization.
June 12, 2006... PIPELINE CAPACITY UTILIZATION Jun. (2006) Jun. (2005) Location FlowDate Flow Month-to-Date Month-to-Date Transco Zone 6 NY 6/5/2006 1,458,251 1,479,285 1,399,505...

NatGas cost burns out baseload power option.(CURRENT)
June 12, 2006... The trend to add new coal and nuclear generation and to sell gas-fired assets continues at full throttle amid high fuel costs that are not only hitting the customer's wallet, but also the deep pockets of investors. Even though natural...

Firms adding coal, nukes, dumping gas.(CURRENT)
June 12, 2006... Constellation may sell 3,145 MW of gas-fired generation because the assets fail to complement its coal and nuclear plants in the current environment. It's an interesting development at the nation's largest wholesale power trader and the...

Wisconsin PSC encourages IGCC consortium to advance technology.(CURRENT)
June 12, 2006... The Department of Natural Resources and the Public Service Commission of Wisconsin (PSC) released a draft report about the future prospects of integrated gasification combined cycle (IGCC) technology for the Badger State. The report...

Los Angeles moving ahead with wind farm.(CURRENT)
June 12, 2006... State mandates continue to open the door for long-term renewable growth in the US, as seen last week with Los Angeles, which will soon have its first city-owned wind project. The project will help Los Angeles meet its 20% by 2010 renewable...

California utilities support GHG cuts.(CURRENT)
June 12, 2006... Pressure to ensure clean power generation, which favors natural gas over coal, continues to build with the latest effort by a group of California public utilities that last week pledged to support the Golden State's greenhouse gas reduction...

Spot electricity trading.(CURRENT)
June 12, 2006... SPOT ELECTRICITY TRADING Trading Dates: June 5-June 9, 2006 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT Week ...

Comparative fuel prices.(CURRENT)
June 12, 2006... COMPARATIVE FUEL PRICES (Cash Market) June 12, 2006 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $50.50/ton $6.24/MMBtu $2.10/MMBtu EAST COAST...

Cracks found in Thunder Horse manifolds, production delayed.(Regional Market Roundup)
June 12, 2006... BP's Thunder Horse platform and field, located in the Gulf of Mexico's Mississippi Canyon Block 778 about 150 miles southeast of New Orleans, has hit yet another snag in bringing the facility online. According to BP, while conducting...

Baker Hughes rig count.(Regional Market Roundup)
June 12, 2006... BAKER HUGHES RIG COUNT Week Ended Jun. 9 Rotary Rigs Current Previous Year Week Week Ago Total US 1,661 1,657 1,339 Land ...

Gas price trends.(Regional Market Roundup)
June 12, 2006... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO TEXAS Gulf Coast Gulf Coast South...

Canada Southern has new suitor; Newest offer trumps hostile bid.(Canadian Markets)
June 12, 2006... Canada Southern Petroleum finds itself facing takeover bids--one being a hostile takeover attempt--from two fellow Canadian companies. Calgary-based Canadian Superior Energy said last week it would acquire Canada Southern Petroleum with a...

Gazprom: US firms might not be picked for Shtokman gas project.(World Roundup)
June 12, 2006... Russia's gas monopoly Gazprom said last week it would not necessarily select US partners for its huge Shtokman gas project, which it is developing for the US market. Gazprom has shortlisted five companies--ConocoPhillips and Chevron from...

Gas flowing from new North Sea fields.(World Roundup)
June 12, 2006... UK's BG and New York-based Hess have announced the start of first gas from their Atlantic and Cromarty fields in the Outer Moray Firth of the UK North Sea. At its peak, the development is slated to produce around 220 MMcf/d. The gas will...

Canadian price report.(World Roundup)
June 12, 2006... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ ALBERTA Total Sumas ...

Conundrum: Winter gas likely to waylay buyers one way or another.
June 12, 2006... In talking to gas buyers at last week's LDC Forum Northeast in Boston, it became clear that not a few wished to avoid a winter catastrophe. Looking at the current winter spreads, it's not hard to see how that might keep a few buyers up at...

Gas price report.
June 12, 2006... GAS PRICE REPORT ($/MMBtu--Spot) June 12, 2006 Interstate Intrastate Delivered Delivered Wellhead Wellhead To Pipeline To Utility Bid Bid Bid ...

Natural gas weekly spot prices.
June 19, 2006... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 6/13-6/19 Avg. Avg. Jun. Price Daily Daily Bid Point $/MMBtu Chg....

Storage fields curtailing flows; signs of coming price fall mount.
June 19, 2006... At the current rate of natural gas injections, by the end of October gas storage inventories could easily be entering the next heating season with nearly 3.65 Tcf in the ground, a new all-time high. Even now, some storage operators are...

Blanco makes good on threat to block Western Gulf lease sale.
June 19, 2006... Whether or not there will be a lease sale in August or the future for offshore sites in the Gulf of Mexico will either be settled through negotiations or in the court room. Last week, Louisiana Gov. Kathleen Blanco made good on her promise...

July gas vaults over $7/MMBtu as squeeze tightens, heat builds.
June 19, 2006... Market bulls awakened late last week driven by upward trending technical indicators, which were supported by a slightly bullish storage report. However, some market players see the strength in prices as a house of cards likely to collapse at...

Another bill filed in house to allow gas drilling off US coasts.
June 19, 2006... A Louisiana congressman has opened a new front in the fight to open up the East and West coasts of the US to oil and gas exploration and production. Rep. Bobby Jindal (R-Louisiana) introduced H.R. 4761, the Domestic Energy Production...

Plant to be acquired.(Late news ...)
June 19, 2006... Plant to be acquired: The California Public Utilities Commission has approved Pacific Gas & Electric's (PG&E) request to acquire from Mirant the 530-MW combined-cycle, natural gas-fired Contra Costa 8 plant, located near Antioch, California,...

Hearing called on pipeline.(Late news ...)
June 19, 2006... Hearing called on pipeline: A public hearing has been called for Jun. 21 in Hattiesburg, Mississippi, to get comments on a proposed $500 million, 270-mile natural gas pipeline from Texas and Louisiana that would cross Mississippi to the Alabama...

Fight over deepwater Gulf lease royalties getting hotter, uglier.
June 19, 2006... The energy industry and lawmakers continue to square off over leases mistakenly issued without price thresholds by the Minerals Management Services in 1998 and 1999. Last month, the House passed an amendment to the Interior Department's...

Intrastate weekly spot prices.
June 19, 2006... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 6/13-6/19 Avg. Avg. Jun. Price Daily Daily Bid Point $/MMBtu Chg. High...

Major coal gasification plant planned for southwest Louisiana.
June 19, 2006... In a first of its kind for Louisiana, a coal gasification plant is being planned for South Louisiana, according to Gov. Kathleen Blanco and officials with Synfuel Inc. The $5 billion plant to be built in Ascension Parish in southwest...

Prices and differentials for major hubs and selected city gates.
June 19, 2006... June 19, 2006 US$/MMBtu, Volume-Weighted [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 6/12 6/13 6/14 6/15 6/16 HH-NY +0.44 +0.43 +0.46 +0.56 +0.64 HH-Chicago -0.09 -0.06...

BP Energy, Kentucky Authority enter into prepaid gas contract.
June 19, 2006... Learning a lesson about how easily the nation's natural gas supply line from the Gulf of Mexico can be disrupted, the Public Energy Authority of Kentucky (Peak) entered in a $1 billion, 10-year, prepaid contract with BP Energy to make sure its...

Slow but smooth start for Nymex energy trading on Globex platform.
June 19, 2006... Last Monday's first day of trading New York Mercantile Exchange (Nymex) energy products on the Chicago Mercantile Exchange's (CME) electronic Globex platform was hailed as a success, as the volume of energy contracts traded electronically grew...

North American weekly gas storage.
June 19, 2006... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Jun. 9 Jun. 2 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1268 ...

Natural gas futures.
June 19, 2006... NATURAL GAS FUTURES Trading Dates: June 12 - June 16, 2006 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last ...

Fresh LNG supply spells sharp increase in summer LNG imports.(Atlantic Basin LNG Update)
June 19, 2006... Although the US has been sucking in record amounts of LNG in recent months, the picture could flip on a dime if Europeans suddenly agree to pay more or demand shoots up elsewhere. In June through August last year, US LNG imports totaled 153...

Prices for major Atlantic basin LNG hubs.(Atlantic Basin LNG Update)
June 19, 2006... May 2006 ($US/MMBtu) * 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....