Natural Gas Week articles from June 2008

Natural Gas Week archives from June 2008

Natural gas weekly spot prices.
June 2, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 5/27-6/2 Avg. Avg. Jun. Price Daily Daily Bid Point $/MMBtu Chg....

Pension funds, index speculators blamed for soaring NatGas, oil.
June 2, 2008... The Nymex June gas futures contract saw its highest expiration ever last week. However, it wasn't a natural disaster, such as a devastating Gulf hurricane that caused the price spike, but a flood of pension fund dollars invested in "long-only"...

Alternative-fuel experts agree that the age of the NGV has come.
June 2, 2008... The two-car American family might look a little different in the not-so-distant future. One car will be the town car for commuting and day-to-day activities. The other car will be for cross-country travel. The two-car setup gives the family...

Aberdeen, Scotland, emerging as key base for Arctic operations.
June 2, 2008... As more companies eye the potential energy prize above the Arctic Circle, the Scottish seacoast city of Aberdeen is being seen as a critical base for any energy projects there. The Scottish energy city already has the infrastructure needed...

Colorado producers say proposed rules could hurt economy, prices.
June 2, 2008... If passed, proposed oil and gas conservation restrictions in Colorado could shut down large amounts production in the state, which in turn could raise natural gas prices on consumers nationwide, the state's major oil and gas operators are...

Rex-East approved.(Late news ...)
June 2, 2008... Rex-East approved: Rockies Express pipeline earned final approval from the Federal Energy Regulatory commission Friday to move forward with its eastern segment, planned to run from Audrain County, Missouri to Clarington, Ohio. Co-sponsors...

Offer rejected.(Late news ...)
June 2, 2008... Offer rejected: Calpine officially rejected an unsolicited $11 billion takeover offer from NRG Energy as inadequate, but said in a statement Friday that it is open to further negotiations. NRG's offer would combine the largest independent US...

Haynesville acreage.(Late news ...)
June 2, 2008... Haynesville acreage: Goodrich Petroleum has acquired additional interests in the Cotton Valley trend, which increases its net exposure in the Haynesville Shale to approximately 30,000 net acres.

Ban extended.(Late news ...)
June 2, 2008... Ban extended: A ban on oil and gas drilling near interstate highways in Louisiana will continue for another month. The drilling restriction within a quarter mile of an interstate was prompted by a November gas well blowout that shut down a...

Restricted domestic reserves called energy price relief key.
June 2, 2008... The US does not have access to large reserves of oil and natural gas within its own borders because of laws strictly governing air, water, wildlife and historic areas, according to a new report from senior land managers. Drawing harsh...

Intrastate weekly spot prices.
June 2, 2008... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 5/27-6/2 Avg. Avg. Jun. Price Daily Daily Bid Point $/MMBtu Chg....

Prices and differentials for major hubs and selected city Gates.
June 2, 2008... [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 5/26 5/27 5/28 5/29 5/30 HH-NY +0.61 +0.70 +0.62 +0.57 +0.57 HH-Chicago -0.10 +0.16 +0.06 -0.01 -0.01 AECO-CHIC +1.18 +1.56...

XTO makes big Bakken Shale oil acquisition; little gas involved.
June 2, 2008... One of North America's largest gas producers, XTO Energy, ticked off the last remaining shale play on its wish list of unconventional plays with a $1.85 million acquisition last week--though this time around, the company is opting to chase oil...

Composite spot wellhead price.
June 2, 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 2007 6.25 7.79 6.52 7.07 7.34 7.03 6.03 6.10...

June NatGas sets record; bulls sag, tropics begin percolating.
June 2, 2008... There wasn't a dull moment last week in the energy industry; as June natural gas futures rolled of the board at all time record highs, the first tropical storm of the season emerged, and the CFTC turned up the heat on energy futures traders....

Natural gas futures.
June 2, 2008... NATURAL GAS FUTURES Trading Dates: May 26 - May 30 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume ...

Methane's abundance fuels NASA dream for interplanetary travel.
June 2, 2008... Late last month, a simple notice from the University of London sent the scientific world into a frenzy--methane had been detected on a planet orbiting a sun almost 63 light years from the Earth in the constellation Vulpecula. It's also...

North American weekly gas storage.
June 2, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) May 23 May 16 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 845 797 48...

Natural gas bidweek prices.
June 2, 2008... NATURAL GAS BIDWEEK PRICES Flow Dates: 6/1-6/30 June Chg. Price Avg. from Point $/MMBtu Prev. High Low GULF COAST ANR SE 11.90 +0.64...

NGW's monthly weighted averages.
June 2, 2008... NGW'S MONTHLY WEIGHTED AVERAGES $/MMBtu Price Point May-08 Apr-08 Mar-08 Feb-08 Jan-08 Gulf Coast ANR SE 11.21 10.20 9.41 8.53 7.87 Col. Gulf - Erath 11.18 10.04 9.25 ...

Coal price meteoric rise expected to continue.(CURRENT)
June 2, 2008... While the entire suite of energy fuels has risen steadily since March, thermal coal prices are set to remain on the rise globally in the next two years, according to a recent report by Louis A. Moscatello, analyst for UBS Investment Research....

Woodmac: renewables target unrealistic.(CURRENT)
June 2, 2008... The European Union Emission Trading System (EU ETS), the model for the US cap-and-trade scheme, may have succeeded in creating windfall profits for the early mover German utilities, but one of its primary purposes--to incent the reduction of...

Healthy retail market in Texas suffers chink in shining armor.(CURRENT)
June 2, 2008... Two of the retail electricity providers (REP) in the nation's healthiest retail power market have gone under recently--and more are sure to follow, grid experts say. National Power Co., a Houston-based REP, recently broke its fixed-rate...

Western renewable zones emulating Texas.(CURRENT)
June 2, 2008... The feds are putting money into a system to identify renewable energy zones in the western US--loosely based on the model of Competitive Renewable Energy Zones established in Texas (NGW Mar.19,'07,p8). The Western Renewable Energy Zones...

Spot electricity trading.(CURRENT)
June 2, 2008... SPOT ELECTRICITY TRADING Trading Dates: May 27-May 30, 2008 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Week Last Week Year Month POINT ...

Dynegy divests another gas-fired peaker.(CURRENT)
June 2, 2008... In the heart of coal country, Houston's Dynegy plans to sell one of its natural gas-fueled peaking plants to an affiliate of Omaha-based Tenaska Capital Management. The sale of 815-MW Rolling Hills Power Generation Facility in Wilkesville,...

Comparative fuel prices.(CURRENT)
June 2, 2008... COMPARATIVE FUEL PRICES (Cash Market) June 2, 2008 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $102.00/ton $12.13/MMBtu $4.25/MMBtu ...

Royal Dutch Shell's Perdido spar to begin journey to Texas shipyard.(Regional Market Roundup)
June 2, 2008... Royal Dutch Shell reports that construction of the hull of the Perdido spar--one of the world's deepest offshore production facilities--is complete, and it is now being transported from a shipyard in Finland to Texas. The massive steel...

Baker hughes rig count.(Regional Market Roundup)
June 2, 2008... [ILLUSTRATION OMITTED] BAKER HUGHES RIG COUNT Week Ended May. 30 Rotary Rigs Current Previous Year Week Week Ago Total US 1,877 1,889...

Gas price trends.(Regional Market Roundup)
June 2, 2008... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO South North Jun 2, 2008 Inter (well) -- -- 8.03 8.48 Intra (well)...

Study offers pragmatic take on vast Horn River Basin resources.(Canadian Markets)
June 2, 2008... The emergence of British Columbia's Horn River Basin Shale play onto the North American unconventional resource scene has generated a great deal of interest around the industry--with many companies and analysts contending that it could be as...

Spanish demand down, hydro up, as Trinidad surges as LNG provider.(World Roundup)
June 2, 2008... Gas demand in Spain looks to be easing amid a much improved hydropower situation, but continued strong coal prices keep a floor of sorts under the market. Hydro reserves were at 57.3% of total capacity on May 20, versus 47.6% on Apr. 8. ...

Canadian price report.(World Roundup)
June 2, 2008... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas Eastport...

A sports car that runs on natural gas.
June 2, 2008... The problem with natural gas vehicles (NGVs), according to Tonight Show host and "car guy" Jay Leno, is that they aren't sexy enough in the public mind. That may be changing. [ILLUSTRATION OMITTED] A group of European companies led by...

Wamsutter: a real place lurks behind those production reports.
June 2, 2008... Workers drive trucks to and from rig sites along unpaved roads. Locals pay no mind to mesas lining the horizon, antelope charging by or prairie dogs that perfectly match the tan soil. Town population: 2,500, according to more liberal estimates....

Natural gas weekly spot prices.
June 9, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 6/3-6/9 Price Avg. Avg. Jun. Point Daily Daily Bid $/MMBtu Chg....

Climate bill killed by Senate GOP filibuster; stage now set for 2009.
June 9, 2008... Ending more than six months of anticipation, the US Senate took the necessary steps to begin debate last week on legislation designed to curb carbon emissions through a capand-trade system of emissions allowances, but was forced to move onto...

Forecasters weigh in as tropical storm season getting under way.
June 9, 2008... With the beginning of June comes the official start to the 2008 hurricane season. And with energy prices already hyper-sensitive to anything even remotely bullish, the industry is keeping a keen eye on the predictions of some of the nation's...

Traders see formation of 'blow-off top' for oil, NatGas futures.
June 9, 2008... While unnerving, Friday's record-setting buying spree in the oil and gas futures market, with crude gaining an astounding $10.75/bbl, had all the earmarks of a "blow-off top," traders said. But while the steep and rapid increase in price should...

TransCanada's gas pipeline plan in for rough ride in legislature.
June 9, 2008... Alaska lawmakers have started the clock on their review of a roughly $30 billion proposal by TransCanada Corp. to build a natural gas pipeline between the North Slope and markets in lower 48 states. The state legislature has 60 days to...

Ercot prices.(Late news ...)
June 9, 2008... Ercot prices: The Texas grid agency on Friday was set to consider a rule change that regulators and market participants hoped would return order to the state's real-time energy market where high prices have become chronic and severe. Directors...

Permian sale.(Late news ...)
June 9, 2008... Permian sale: Concho Resources has signed a deal to acquire Henry Petroleum's holdings in Texas and New Mexico for $565 million. Henry has operations in the Permian Basin of West Texas and southeast New Mexico. Included in the acquisition are...

MLP canceled.(Late news ...)
June 9, 2008... MLP canceled: Independent oil and gas company Devon Energy is no longer considering a public offering of a partnership for its gas gathering and processing business. In November, Devon pulled its planned IPO of a master limited partnership for...

Correction.(Correction notice)
June 9, 2008... A UBS Investment Research report on the outlook for thermal coal prices cited in the Current feature in the Jun. 2 edition incorrectly identified the lead author of the report. The lead author for the report is Shneuer Gershuni.

Gas market shrugs at restart of key independence hub in US Gulf.
June 9, 2008... The Independence natural gas production hub in the deepwater Gulf of Mexico returned to service late Tuesday after a leak kept the facility off line for nearly two months. Gas volumes were reported running at a reduced rate of 200 million...

Rare EPA order freezes planned drilling in cultural area of Utah.
June 9, 2008... In a rare action since the Bush administration took office, the US Environmental Protection Agency has put plans for natural gas production on the West Tavaputs plateau in northeastern Utah on hold based on concerns that federal land managers...

Intrastate weekly spot prices.
June 9, 2008... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 6/3-6/9 Price Avg. Avg. Jun. Point Daily Daily Bid $/MMBtu Chg. High...

Chesapeake moves fast in Shale play; six Haynesville wells done.
June 9, 2008... Chesapeake Energy said last week it plans to accelerate the pace of its drilling in the Haynesville Shale play of North Louisiana and East Texas after dramatically expanding the acreage it has under lease. Chief Executive Aubrey McClendon...

Prices and differentials for major hubs and selected city gates.
June 9, 2008... [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 6/2 6/3 6/4 6/5 6/6 HH-NY +0.85 +0.93 +0.96 +0.93 +1.45 HH-Chicago -0.03 -0.05 -0.03 -0.14 -0.19 AECO-CHIC +1.54 +1.69...

Cabot expanding East Texas gas leasehold with $600 million buy.
June 9, 2008... Cabot Oil & Gas has made a rare acquisition of producing properties in East Texas, greatly expanding its presence in an area where it initially established a foothold three years ago. Houston-based Cabot said it agreed to pay $602.8 million...

North American weekly gas storage.
June 9, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Region May 30 May 23 Weekly Year Yr. Ago 5-year 5-year Week Week Change Ago Change Average Change US East 905 ...

Dallas firm harnessing digital age to rein in far-flung assets.
June 9, 2008... With the information flow surrounding their drilling operations reaching the size of a tidal wave, Dallas-based Merit Energy had to do something. Merit--a private firm specializing in direct investments in mature oil and gas...

Natural gas futures.
June 9, 2008... NATURAL GAS FUTURES Trading Dates: June 2 - June 6 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume...

Pipeline capacity utilization.
June 9, 2008... PIPELINE CAPACITY UTILIZATION Location FlowDate Flow June (2008) June (2007) Month-to-Date Month-to-Date Transco Zone 6 NY 6/3/2008 1,454,832 1,365,517 ...

Mega-project set to harness stout Kansas winds.(CURRENT)
June 9, 2008... Three-fourths of power generation in Kansas comes from coal, so its utility customers traditionally have enjoyed some of the lowest utility rates in the country. But the state is undergoing a metamorphosis, whether stemming from the urge to go...

Yucca Mountain application hits deadline, but debate still raging.(CURRENT)
June 9, 2008... The new nuclear buildout isn't waiting solely for an authorized national plan for nuclear waste disposal--the holdup has more to do with burgeoning capital costs and manufacturers' reluctance to commit to a fixed price. Nonetheless, it doesn't...

Spot electricity trading.(CURRENT)
June 9, 2008... SPOT ELECTRICITY TRADING Trading Dates: June 2-June 6, 2008 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) POINT Avg. Price Avg. Price This Last Year Month Week...

Award-winning peaking plant adds unit.(CURRENT)
June 9, 2008... The second 545-MW natural gas-fueled unit at We Energies' Port Washington Generating Station in Wisconsin has been placed into commercial service. The first of the two units planned at the plant went online in July 2005, and was recognized...

Comparative fuel prices.(CURRENT)
June 9, 2008... COMPARATIVE FUEL PRICES (Cash Market) June 9, 2008 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $110.00/ton $13.01/MMBtu $4.58/MMBtu...

SES backers pulling the plug in Long Beach after months in Limbo.(Regional Market Roundup)
June 9, 2008... Sound Energy Solutions--a subsidiary of ConocoPhillips and Mitsubishi Corp.--has placed a liquefied natural gas terminal project in Long Beach, California, on indefinite hold. After spending some $80 million over the course of seven years...

Baker Hughes rig count.(Regional Market Roundup)
June 9, 2008... [ILLUSTRATION OMITTED] BAKER HUGHES RIG COUNT Week Ended Jun. 6 Rotary Rigs Current Previous Year Week Week Ago Total US 1,886 1,877...

Gas price trends.(Regional Market Roundup)
June 9, 2008... GAS PRICE TRENDS ($/MMBtu) CALIFORNIA ROCKY MTNS NEW MEXICO South North Jun 9, 2008 Inter (well) -- -- 8.15 9.81 Intra (well) 10.17 --...

Canada's NEB foresees high oil, NatGas prices throughout summer.(Canadian Markets)
June 9, 2008... There is not a great deal of hope for any sort of reprieve this summer from the high oil and gas prices seen across Canada, according to the National Energy Board's (NEB) outlook for the country's energy market. Seasonal demand increases,...

Gazprom outlines Shtokman plans; LNG production may start in 2014.(World Roundup)
June 9, 2008... The massive Shtokman LNG project in the Barents Sea will start up in 2014, according to Yuri Komarov, general director of Gazprom's Sevmorneftegas, though a final investment decision is to be taken at the end of 2009. Drilling at Shtokman...

Canadian price report.(World Roundup)
June 9, 2008... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Total Huntingdon/Sumas Kingsgate/Eastport Province ...

Hot gas: Raymond James turning decidedly more bullish for 2008.
June 9, 2008... Raymond James (RJ) is getting more bullish on natural gas, upping its 2008 price forecast to $10/MMBtu from $8/MMBtu last week. The $2/MMBtu hike comes as RJ surveyed the field of broken assumptions that seemed like pretty good bets when it...

Natural gas weekly spot prices.
June 16, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 6/10 - 6/16 Avg. Avg. Jun. Price Daily Daily Bid Point $/MMBtu Chg....

Colorado Naval Oil Shale Reserve to hit auction block this August.
June 16, 2008... Wrapping up more than a decade of political opposition, legal hurdles and environmental planning, the US Bureau of Land Management (BLM) announced last week that federal land on the Roan Plateau in northwestern Colorado, treasured for its...

Rockies Express-West has evened out Midwest, western markets.
June 16, 2008... The western segment of the Rockies Express pipeline has left a significant footprint on the natural gas market since going into service this year, adding key infrastructure to connect resources produced in Wyoming, Colorado and Utah with...

NGVs seeing more fleet service; soaring oil only adds to allure.
June 16, 2008... If soaring crude prices and visions of $200 oil have done nothing else, they have proved a boon for natural gas vehicle (NGV) development, with the volume of NGVs coming "at a much more aggressive rate than expected." [GRAPHIC OMITTED] ...

Locals push Otero Mesa protection, industry touts energy resources.
June 16, 2008... The US Bureau of Land Management (BLM) could easily decide, in the future, to hold a lease sale for oil and gas exploration on portions of the Otero Mesa in southern New Mexico. And environmentalists could bring up possible drilling-related...

Speculation bill.(Late news ...)
June 16, 2008... Speculation bill: Senate leaders are preparing bipartisan energy legislation that would deal exclusively with market speculation. The bill is likely to be introduced next week. The legislation is being cosponsored by Sens. Stevens and Dianne...

Reserves reporting.(Late news ...)
June 16, 2008... Reserves reporting: The US Securities and Exchange Commission on Thursday said agency staff has completed recommendations for updating how oil and gas companies are required to report reserves. The SEC's current disclosure requirements were...

Record high oil, storage concerns underpin July natural gas prices.
June 16, 2008... Last week gas futures raced to yet another new record high for a July contract, supported by stubbornly bullish oil prices and concerns that storage will not reach traditionally comfortable levels by the end of the refill season. Meanwhile,...

Intrastate weekly spot prices.
June 16, 2008... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 6/10 - 6/16 Avg. Avg. Jun. Price Daily Daily Bid Point $/MMBtu Chg....

XTO snags Haynesville acreage with Hunt Petroleum acquisition.
June 16, 2008... XTO Energy announced last week that it has agreed to buy Dallas-based Hunt Petroleum in a $4.19 billion, cash-and-stock deal, pushing its total leasehold in the emerging Haynesville Shale play up over 100,000 net acres. The deal marks the...

Prices and differentials for major hubs and selected city gates.
June 16, 2008... SELECTED DAILY DIFFERENTIALS Differential 6/9 6/10 6/11 6/12 6/13 HH-NY +1.99 +1.29 +0.97 +0.88 +0.81 HH-Chicago -0.18 -0.14 -0.09 -0.09 -0.09 AECO-CHIC +1.39 +1.23 +1.46 +1.21 +1.45 AECO-PG&E...

North American weekly gas storage.
June 16, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Jun. May Weekly Year Yr. 5-year 5-year 6 30 Ago Region Week Week Change Ago Change Average Change US ...

Natural gas futures.
June 16, 2008... NATURAL GAS FUTURES Trading Dates: June 9 - June 13 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume ...

Dow, EDF form marketing deal for possible LNG capacity swap.(LNG Update)
June 16, 2008... The trading unit of state power company Electricite de France has signed a "cooperative marketing agreement" with US chemicals major Dow involving liquefied natural gas that could involve as little as swapping capacity each holds at...

Prices for major Atlantic basin LNG hubs.(LNG Update)
June 16, 2008... PRICES FOR MAJOR ATLANTIC BASIN LNG HUBS ($US/MMBtu) June 2008 Tenn Z0: $12.22 Houston Ship Channel: $12.11 Trunkline West: $12.29 Henry Hub: $12.35 Transco Z5: $13.48 New...

Wind industry gathers to strategize.(CURRENT)
June 16, 2008... Windpower '08 in Houston drew more than 12,000 wind industry employees and a massive Vestas blade--on display in front of the convention center. Wind advocates gathered to buy and sell, as well as strategize how to convince Congress to...

Utilities join forces to add wind power.(CURRENT)
June 16, 2008... A cluster of very small players has brought green energy to the grid--and green to their coffers. Four load-serving entities in Washington State have joined forces and built a major wind farm--The White Creek Wind Project, sprawled out...

Calvert Cliffs nuke application complete, decision pending.(CURRENT)
June 16, 2008... The US Nuclear Regulatory Commission (NRC) has accepted the final portion of the combined license (COL) application for a single EPR unit at the existing Calvert Cliffs Nuclear Plant in Lusby, Maryland, UniStar Nuclear Energy, a strategic...