Natural Gas Week articles from June 2007

Natural Gas Week archives from June 2007

Natural gas weekly spot prices.
June 4, 2007... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 5/29-6/4 Avg. Avg. Jun. Price Daily Daily Bid Point $/MMBtu Chg....

Exxon backs off Arctic pipelines; future supply loss huge problem.
June 4, 2007... Exxon Mobil Chief Executive Rex W. Tillerson fired off a multi-target howitzer barrage last week with his matter-of-fact statement that neither the proposed Mackenzie Gas Project in Canada nor the Alaska natural gas line is economically...

Colorado law gives landowners edge in disputes with producers.
June 4, 2007... Balancing the rights of landowners and the needs of energy companies to drill for oil and natural gas has always been a little dicey, but it may have gotten a little finer after Colorado's governor signed a law that tries to establish a middle...

Emerging tropical season, summer demand slated to support NatGas.
June 4, 2007... Despite natural gas being rapidly packed into storage at a near-record pace, it's likely that the onset of the 2007 hurricane season--with an aptly timed tropical storm forming on day one--and emergence of summer heat will keep July gas prices...

MMS and industry report being braced for '07 hurricane season.
June 4, 2007... The lessons of the 2005 hurricane season that devastated much of the Gulf of Mexico have not gone unheeded. At least, last year's breather gave the offshore industry a chance to regain ground and better prepare for the future, according to...

Deadline extended.(Late news)
June 4, 2007... Deadline extended: The electricity industry has been scrambling to meet Friday's deadline to comply with the North American Electricity Reliability Council's (Nerc) reliability standards, which were to become law Jun. 4 (NGW Jan.8,p8). The...

Acting director.(Late news)
June 4, 2007... Acting director: Walter Cruickshank has been named acting director of the US Interior Department's Minerals Management Service Interior Secretary Dirk Kempthorne said Thursday. Cruickshank has been deputy director of MMS since 2002 and...

Whales threatened.(Late news)
June 4, 2007... Whales threatened: Whale populations off the coast of Alaska and Arctic Canada are facing a new threat from energy operations in that area, according to a report by the International Whaling Commission (IWC), which held its annual meeting last...

Oregon LNG files application to build Columbia River terminal.
June 4, 2007... After flying under the radar since early 2004, a little-known company called Oregon LNG is about to jump into the limelight with a plan for a $1 billion receiving terminal on the Oregon coast that already has the support of the locals. ...

Intrastate weekly spot prices.
June 4, 2007... INTRASTATE WEEKLY SOPT PRICES Flow Dates: 5/29-6/4 Avg. Avg. Jun. Price Daily Daily Bid Point $/MMBtu Chg. High...

Viva Gas Vegas: bank's trading loss echoes MotherRock and Amaranth.
June 4, 2007... Last week, the Bank of Montreal (BMO) disclosed that trading losses from bad bets on its natural gas trading portfolio have surged to $680 million, from its initial report of $450 million. And a further look into the debacle shows similar...

Prices and differentials for major hubs and selected city gates.
June 4, 2007... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES June 4, 2007 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 5/28 5/29 5/30 5/31 6/1 HH-NY +0.59...

US Sens. Landrieu, Lott forming industry coalition to aid coast.
June 4, 2007... A recent reception in Washington, D.C., could have broad implications for America's Energy Coast. "Louisiana, as well as Texas, Mississippi and Alabama represent 'America's Energy Coast,' and are the core of the seventh-largest economic...

Composite spot wellhead price.
June 4, 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 2006 8.20 7.30 6.47 6.61 5.93 6.04 5.93 7.11...

Composite spot delivered-to-pipeline price.
June 4, 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 2006 8.28 7.55 6.69 6.77 5.99 6.14...

Analysts: pipeline tax ruling may be boon for growing MLPs.
June 4, 2007... Analysts are hailing a recent tax ruling by an administrative law judge in Washington as good news for pipeline owners that want to place their assets into a master limited partnership (MLP). They say the ruling should make interstate...

Natural gas futures.
June 4, 2007... NATURAL GAS FUTURES Trading Dates: May 29--June 1, 2007 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume June...

NiSource planning major storage expansion at Ohio Crawford site.
June 4, 2007... With natural gas demand on the rise and the need for more storage booming, NiSource Gas Transmission & Storage (NGT & S) is expanding its Columbia Gas Transmission's (CGT) Crawford storage field in Ohio by 15 billion cubic feet of working gas...

NGSA sees continued high gas prices, despite adequate supply.
June 4, 2007... As usual, weather tops the list of price pressure factors in the Natural Gas Supply Association's (NGSA) Summer Outlook. "Government forecasters don't believe the heat will be as harsh as last summer--the second warmest on record--but with...

North American weekly gas storage.
June 4, 2007... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) May 25 May 18 Weekly Year Yr. Ago Region Week Week Change Ago Change US East 970 905 65 1162 -192 West...

Natural gas bidweek prices.
June 4, 2007... NATURAL GAS BIDWEEK PRICES Flow Dates: 6/1-6/30 June Chg. Prev. Price Avg. from Bid- Point $/MMBtu Prev. High...

Citygate prices.
June 4, 2007... CITYGATE PRICES June Chg. Prev. Price Avg. from Bid- Point $/MMBtu Prev. High Low Vol. Deals Week Austin, Tx. ...

Calm Gulf weather helps speed rig, platform to offshore sites.
June 4, 2007... Calm seas in the Gulf of Mexico have helped speed up some marine traffic across the Gulf and helped Canadian Superior move a drilling rig to Trinidad earlier than planned. The weather has also helped as a tension-leg platform for BHP Billiton's...

NGW's monthly weighted averages.
June 4, 2007... NGW'S MONTHLY WEIGHTED AVERAGES $/MMBtu Price Point May-07 Apr-07 Mar-07 Feb-07 Jan-07 Dec-06 Gulf Coast ANR SE 7.63 7.53 7.04 7.92 6.22 6.53 Col. Gulf--Erath 7.59 7.55 ...

Calpine embraces green geothermal power.(CURRENT)
June 4, 2007... On the eve of announcing its reorganization plan, Calpine is showing off what conceivably could serve as the mascot for the bankrupt independent power producer (IPP): Not a natural gas plume--a geothermal project. Calpine's hopes are...

Gates, PNM JV staking a Texas claim.(CURRENT)
June 4, 2007... Natural Gas Week has learned that Hugh Smith, senior VP of Energy Resources for PNM Resources in Albuquerque, has been pegged to head EnergyCo, the joint venture between the energy holding company and Bill Gates' Renton, Washington-based...

Europe's E.On plans to keep US arm against advice of analysts.(CURRENT)
June 4, 2007... Europe's largest non-state-run utility E.On has no plans to divest its US arm, Louisville, Kentucky-based LG & E, despite arguments from some analysts that it is non-core and should be sold. Instead group chief executive Wulf Bernotat told...

Spot electricity trading.(CURRENT)
June 4, 2007... SPOT ELECTRICITY TRADING Trading Dates: May 29-June 1, 2007 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT Week ...

Comparative fuel prices.(CURRENT)
June 4, 2007... COMPARATIVE FUEL PRICES (Cash Market) June 4, 2007 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $45.00/ton $8.23/MMBtu $1.88/MMBtu EAST COAST New...

Lobbying firm's contract frozen by Alaska for spending concerns.(Regional Market Roundup)
June 4, 2007... Alaska Gov. Sarah Palin has frozen the contract of a lobbying firm hired to advocate for the opening of the Arctic National Wildlife Refuge, after questions were raised about how the company spent state funds. Oregon-based Pac/West...

Baker Hughes rig count.(Regional Market Roundup)
June 4, 2007... BAKER HUGHES RIG COUNT Week Ended Jun. 1 Rotary Rigs Current Previous Year Week Week Ago Total US 1,774 1,760 1,657 Land ...

Gas price trends.(Regional Market Roundup)
June 4, 2007... GAS PRICE TRENDS ($/MMBtu) TEXAS CALIFORNIA ROCKY NEW Gulf Coast Gulf Coast South North MTNS MEXICO Offshore Onshore Jun...

Canadian gas producers seek to replicate US shale gas success.(Canadian Markets)
June 4, 2007... Canadian companies, casting an envious eye south of the border to the prolific Barnett Shale play in North Texas, are starting to kick the tires on a few shale gas plays in their own back yard. The move follows the pattern of coalbed...

Strong jump in deliveries helps push Qatar to top LNG producer.(World Roundup)
June 4, 2007... Deliveries of LNG worldwide increased by more than 12% last year to almost 159 million metric tons, equivalent to 7 trillion cubic feet of natural gas, according to the 2006 report on global LNG trade from the Paris-based International Group of...

Canadian price report.(World Roundup)
June 4, 2007... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas Eastport ...

Once 2007 storm season passes, wake will be bearish, guaranteed.
June 4, 2007... Ten years ago, hurricane season just didn't have the panache it does today. But that was before the very mention of a tropical low forming off Africa or in the Caribbean could move the prompt month a buck or more. You just didn't hear...

Gas price report.
June 4, 2007... GAS PRICE REPORT ($/MMBtu--Spot) June 4, 2007 Interstate Intrastate Delivered Delivered Wellhead Wellhead To Pipeline To Utility Bid Bid Bid ...

Natural gas weekly spot prices.
June 11, 2007... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 6/5-6/11 Avg. Avg. Jun. Price $/ Daily Daily Bid Point MMBtu Chg. High...

Foreign firms flocking to Cuban waters; US firms watch and wait.
June 11, 2007... Industry advocates are fuming about US companies remaining sidelined last week as PetroVietnam became the latest in a growing number of foreign energy exploration firms preparing to explore for oil and natural gas in the deepwater Gulf of...

Analysts, traders see NatGas on pace for yet another record refill.
June 11, 2007... Natural gas traders who've been bullish on summer gas futures are starting to rethink that position as storage inventories continue to swell. Even with summer heat and a potentially active hurricane season looming, some see swelling gas stocks...

Volatile July gas stages strong rally, then fades back to range.
June 11, 2007... It was an active week for Nymex July gas futures as speculative buying sent prices muscling well above $8 on the back of bullish crude oil prices. But as the week progressed, the overheated market began to simmer and traders began capturing...

Alliance formed to quickstart pipe repairs after gulf storms.
June 11, 2007... Four of the Gulf of Mexico's largest operators have formed an alliance to speed deepwater repairs to pipelines and subsea facilities by stockpiling repair equipment along the Gulf Coast. Deep Water Response to Underwater Pipeline...

LNG Delay.(Late news)
June 11, 2007... LNG Delay: The California Senate late last week passed a bill aimed at blocking LNG projects. SB 412, approved by a vote of 22-12, would prohibit approval of any offshore LNG projects until the California Energy Commission completes a study...

Coal Plant.(Late news)
June 11, 2007... Coal Plant: LS Power Group and Dynegy are forming a joint venture called Mid-Michigan Energy to build a $1.3 million, 750-MW coal-fired power plant in Midland, Michigan, that would open by 2012.

Not for sale.(Late news)
June 11, 2007... Not for sale: Speaking at Reuters Global Energy Summit in New York, Parker Drilling Chief Executive Robert Parker said the company is not for sale. Parker Drilling has been the subject of speculation about a possible takeover.

Wells OK'd.(Late news)
June 11, 2007... Wells OK'd: The federal Bureau of Land Management has given the OK for the drilling of up to 1,570 natural gas wells over the next 20 years on the 3,000-foot-high Roan Plateau in Colorado. The BLM order covers 115 square miles of federal lands....

Rahall forced to press pause on vote; anti-turbine measures axed.
June 11, 2007... Republicans, renewable energy proponents and industry have finally found some common ground--a shared adversary in House Natural Resources Committee chairman Nick Rahall (D-West Virginia). Rahall introduced a bill last month that seeks not...

Intrastate weekly spot prices.
June 11, 2007... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 6/5-6/11 Avg. Avg. Jun. Price $/ Daily Daily Bid Point MMBTu Chg. High Low...

Standardized course of training being developed for US LNG crews.
June 11, 2007... The first step toward developing training standards for US mariners to serve on LNG tankers took place last week in Washington, D.C. The Center for Liquefied Natural Gas was the scene of a signing ceremony involving US Maritime...

Prices and differentials for major hubs and selected city gates.
June 11, 2007... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES June 11, 2007 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 6/4 6/5 6/6 6/7 6/8 HH-NY ...

XTO, Loews pick up prime NatGas producing assets from Dominion.
June 11, 2007... Dominion has sold a huge chunk of its US onshore gas assets to Loews Corp. and XTO Energy for a combined $6.5 billion. Loews is grabbing Dominion's operations in the Permian Basin, Michigan and Alabama for $4 billion. The properties hold...

North American weekly gas storage.
June 11, 2007... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Jun. 1 May 25 Weekly Year Yr. Ago Region Week Week Change Ago Change US East 1036 970 66 1207...

Survey: geopolitical risks top concern of world energy leaders.
June 11, 2007... Political uncertainty in the US and around the world will remain one of the biggest factors in energy developments over the next five years. That was one of the key findings of a World Energy Council survey of 50 of the world's senior...

Natural gas futures.
June 11, 2007... NATURAL GAS FUTURES Trading Dates: June 4-June 8, 2007 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume ...

Chevron CEO urges free market solutions to US energy problems.
June 11, 2007... Improved energy security in the US depends upon raising efficiency, creating a diversity of energy sources and increasing the use of domestic supplies that are currently off limits, according to Business Roundtable, a group of 160 chief...

Pipeline capacity utilization.
June 11, 2007... PIPELINE CAPACITY UTILIZATION June (2007) June (2006) Location FlowDate Flow Month-to-Date Month-to-Date Transco Zone 6 NY 6/6/2007 1,388,505 1,443,041 1,510,724...

NRG facing carbon head on; betting on nukes.(CURRENT)
June 11, 2007... Legislators could move with lightning speed on setting a carbon price; they could devise an interim policy working with today's best-case realities, or they might never get their act together. Those are the scenarios most power generators...

Coal outage strains water-tapped west.(CURRENT)
June 11, 2007... Just how dependent the hydro-rich western US is on coal-fired generation right now was shown when a major, coal-fired unit in Wyoming tripped around noon last Monday. Reverberations in the wholesale power markets were felt as far away as...

PG & E says cow manure, not wind better pathway to a greener future.(CURRENT)
June 11, 2007... Although Pacific Gas & Electric will not invest in any more California wind power, it's giving cow manure a try. State regulators recently approved a 10-year agreement between the utility and BioEnergy Solutions, of Bakersfield, California,...

Spot electricity trading.(CURRENT)
June 11, 2007... SPOT ELECTRICITY TRADING Trading Dates: June 4-June 8, 2007 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT Week ...

Comparative fuel prices.(CURRENT)
June 11, 2007... COMPARATIVE FUEL PRICES (Cash Market) June 11, 2007 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $47.75/ton $8.33/MMBtu $1.99/MMBtu EAST COAST...

Bois d'Arc Energy ponders possible sale after drilling setbacks in Gulf.(Regional Market Roundup)
June 11, 2007... After two of its offshore drilling efforts in the Gulf of Mexico hit dry holes, Houston-based Bois d'Arc Energy has decided to examine its strategic options, which include a possible sale of the company. A Bois d'Arc spokesman said last...

Baker Hughes rig count.
June 11, 2007... BAKER HUGHES RIG COUNT Week Ended Jun. 8 Rotary Rigs Current Previous Year Week Week Ago Total US 1,760 1,774 1,661 Land ...

Gas price trends.
June 11, 2007... GAS PRICE TRENDS ($/MMBtu) TEXAS CALIFORNIA ROCKY NEW Gulf Coast Gulf Coast South North MTNS MEXICO Offshore Onshore Jun...

NW minister: over-the-top option making more sense for Arctic gas.(Canadian Markets)
June 11, 2007... Brendan Bell, minister of Industry, Tourism and Investment for Canada's Northwest Territories, knows that Alaskan law prohibits constructing a gas pipeline that would connect the Prudhoe Bay and other North Slope fields to the Mackenzie Delta...

Chinese recover methane hydrate samples in South China sea probe.(World Roundup)
June 11, 2007... The Chinese Ministry of Land and Resources said Chinese researchers have successfully recovered samples of natural gas hydrates from the South China Sea. A ministry spokesman said the samples were collected from two sites in the northern South...

Canadian price report.(World Roundup)
June 11, 2007... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas Eastport ...

Tillerson might not be bluffing about nixing Arctic Gas projects.
June 11, 2007... Pipeline proposals to bring Arctic Gas to hungry markets in Canada and the lower 48 took another hit when Exxon Mobil Chief Executive Rex W. Tillerson recently dismissed the projects that have been decades in the planning. And without...

Gas price report.
June 11, 2007... GAS PRICE REPORT ($/MMBtu--Spot) June 11, 2007 Interstate Intrastate Delivered Delivered Wellhead Wellhead To Pipeline To Utility Bid Bid Bid ...

Natural gas weekly spot prices.
June 18, 2007... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 6/12-6/18 Avg. Avg. Jun. Price $/ Daily Daily Bid Point MMBtu Chg....

Alaska advances NatGas pipeline plan despite producer opposition.
June 18, 2007... Gov. Sarah Palin's administration is pushing forward with a plan to deliver North Slope natural gas to markets in Canada and the lower 48, despite opposition from three companies that hold rights to the majority of the resources. Natural...

Bad news bulls: meteorologists hint at warm winter, $4 NatGas.
June 18, 2007... A nightmare scenario for natural gas market bulls could be in the making, as some meteorologists say there is emerging evidence that a warm winter could be in store for the US this year. "We've seen prompt-month gas futures hang above $7.50...

July gas contract ends Friday on high note; is fat lady singing?
June 18, 2007... More summer-like weather in the major markets, a surging petroleum complex, plus a blip in the storage refill juggernaut, stoked a late week rally by natural gas futures. [GRAPHIC OMITTED] The rally peaked in early Friday afternoon...

Dominion combines reservoirs, salt caverns in storage project.
June 18, 2007... After taking a look at growing markets in the Northeast and Mid-Atlantic regions, Dominion last week unveiled plans for its Storage Factory Project--a plan that combines new salt cavern storage with depleted reservoir storage, at a cost of $500...

For sale?(Late news)
June 18, 2007... For sale?: Reports from several media sources Friday indicated that officials with the New York Mercantile Exchange are exploring a sale of the exchange for about $14.3 billion. The Nymex has the world's largest energy futures market. According...

Agreement reached.(Late news)
June 18, 2007... Agreement reached: Arena Resources said Friday it will invest about $45 million over four years to build a high-pressure natural gas pipeline with Aspen Pipeline. A spokesman said Tulsa, Oklahoma-based Arena Resources will drill at least 60...

Funds raised.(Late news)
June 18, 2007... Funds raised: XTO Energy said Friday it raised a little over $1 billion through a public offering of its common stock. The Houston-based company said it had offered 17.25 million common shares at $60.50/share, raising just under $1.05 billion....

CNX Gas spends $66.5 million to gather CBM properties.
June 18, 2007... Coalbed methane producer CNX Gas has struck a three-way deal under which it will spend $66.5 million to boost its gross acreage position from 2.5 million to 3.6 million gross acres. The transaction will expand CNX's acreage in the Illinois...

Energy Alliance: independents lead the pack in Lone Star State.
June 18, 2007... The energy industry is commonly called Big Oil, but in Texas, it would be more accurate to use Small or Medium Oil. That's according to the latest survey by the Texas Alliance of Energy Producers. The survey showed that small and...

Intrastate weekly spot prices.
June 18, 2007... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 6/12-6/18 Avg. Avg. Apr. Price Daily Daily Bid Point $/MMBtu Chg. High...

Prices and differentials for major hubs and selected city gates.
June 18, 2007... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES June 18, 2007 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 6/11 6/12 6/13 6/14 6/15 HH-NY ...

Asia, Europe top increases in global upstream investment.
June 18, 2007... Global upstream expenditures are now expected to increase 13% this year over 2006 levels, up from a projection of 9% growth made at the end of last year, according to the latest spending survey by Lehman Brothers. Worldwide spending is forecast...

North American weekly gas storage.
June 18, 2007... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Jun. 8 Jun. 1 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1097 ...

Natural gas futures.
June 18, 2007... NATURAL GAS FUTURES Trading Dates: June 11-June 15, 2007 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume ...