Natural Gas Week articles from March 2006

Natural Gas Week archives from March 2006

Natural gas weekly spot prices.
March 6, 2006... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 2/28-3/6 Avg. Avg. Mar. Price Daily Daily Bid Point $/MMBtu Chg. High...

Forced withdrawals: absorbed or cause prices to continue slide.
March 6, 2006... Unless demand increases notably over the next few weeks, storage operators may have to step up enforcement of contractual minimum withdrawals from storage facilities, which many sources believe could put further pressure on cash prices in the...

When it comes to LNG terminals, many are called, but few chosen.
March 6, 2006... The United States is one of the largest markets for natural gas, representing 24% of total worldwide demand. But, it is still one of the smallest importers of LNG, accounting for just 9% of global LNG deliveries. "I think what you see is...

Crude oil jitters, storage glut, restored demand week's drivers.
March 6, 2006... With crude muscling higher amid a collage of geopolitical concerns, combined with cooler weather and the return of industrial demand, natural gas traders are eyeing some decent support possibly underpinning the Nymex April gas futures contract...

Survey: independents struggling to overcome rig, crew shortages.
March 6, 2006... A new survey of 75 independents has painted a picture of an industry straining to keep pace with demand, while at the same time working to overcome shortages of drilling rigs and trained crews. The survey, conducted by the Houston-based...

CBOT contracts.(Late news ...)
March 6, 2006... CBOT contracts: The Chicago Board of Trade (CBOT) said Friday it may join a number of major US futures exchanges boosting their product offerings in the cash-flush energy market. Though a CBOT spokesperson could not give details, entry of the...

Calpine team.(Late news ...)
March 6, 2006... Calpine team: Bankrupt gas-fired generator Calpine appointed an executive team to oversee the restructuring of its core generation business. Scott Davido, the new chief financial officer, will be chief restructuring officer; Michael Bradley,...

Wisconsin ban.(Late news ...)
March 6, 2006... Wisconsin ban: A bill will be introduced in the Wisconsin legislature to lift a ban on the expansion and construction of nuclear power plants in state. The two Republican lawmakers--Assembly Majority Leader Mike Huebsch of West Salem and state...

CBM play.(Late news ...)
March 6, 2006... CBM play: PRB Gas Transportation has acquired a 15% working interest in approximately five sections of land representing 3,200 acres in Wyoming's Powder River Basin. PRB said it plans a 30- to 40-coalbed methane well drilling program in...

Steep rise in oil price rescues North Texas gas storage project.
March 6, 2006... Rising natural gas prices put a crimp in Falcon Gas Storage's efforts to redevelop the depleted Worsham-Stead field in North Texas, but rising oil prices saved the day. The Houston-based independent storage operator acquired the property...

Intrastate weekly spot prices.
March 6, 2006... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 2/28-3/6 Avg. Avg. Mar. Price Daily Daily Bid Point $/MMBtu Chg. High Low...

Prices and differentials for major hubs and selected city gates.
March 6, 2006... March 6, 2006 US$/MMBtu, Volume-Weighted [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 2/27 2/28 3/1 3/2 3/3 HH-NY +1.37 +0.90 +1.18 +1.91 +1.11 HH-Chicago -0.38 -0.63...

Flexibility, attitude, capacity: Gulf Coast best for LNG storage.
March 6, 2006... The dynamics of the North American gas storage business will change dramatically when the large volumes of LNG begin arriving late in this decade, requiring additional capacity that can deal with fluctuating delivery rates dictated by tanker...

Britain's National Grid fancies major US gas distributor KeySpan.
March 6, 2006... National Grid, the largest gas and power grid operator in the UK, last week agreed to buy KeySpan Energy, the largest natural gas distributor in the insatiable natural gas consuming Northeast. Boards of both companies have already...

Composite spot wellhead price.
March 6, 2006... COMPOSITE SPOT WELLHEAD PRICE January 2002 to Present ($/MMBtu) Year Jan. Feb. March April May June July August Sept. 2006 8.20 7.30 2005 6.05 5.99 6.77 6.99 6.26 6.91 7.50 8.99 11.24 2004 5.90 4.79...

Intelligent systems become more entrenched throughout industry.
March 6, 2006... The concept of intelligent systems is moving from the wellhead and the boardroom into the design room and out into the construction yard. Microsoft representatives were at the Cambridge Energy Research Associate's annual energy conference...

Natural gas futures.
March 6, 2006... NATURAL GAS FUTURES Trading Dates: February 27 - March 3, 2006 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume ...

Texas independent sets eyes on South Louisiana gas exploration.
March 6, 2006... Brigham Exploration is planning a major hike in its 2006 spending plan compared with its capital spending budget for 2005 with more than half targeting properties on the Gulf Coast. Brigham Chairman and Chief Executive Bud Brigham said the...

North American weekly gas storage.
March 6, 2006... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Feb. 24 Feb. 17 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1078 ...

Natural gas bidweek prices.
March 6, 2006... NATURAL GAS BIDWEEK PRICES Flow Dates: 3/1-3/31 March Chg. Prev. Price Avg. from Bid- Point $/MMBtu Prev. High...

Gasification alternatives poised to displace natural gas growth.
March 6, 2006... High oil and gas prices and growing environmental restrictions have fueled the romance between the energy industry and gasification technology to provide alternatives to natural gas in refining, chemicals and power generation. It uses a...

NGW's monthly weighted averages.
March 6, 2006... NEW'S MONTHLY WEIGHTED AVERAGES $/MMBtu Price Point Feb.'06 Jan.'06 Dec.'05 Nov.'05 Oct.'05 Sep.'05 Gulf Coast ANR SE 7.35 8.40 12.72 9.33 13.24 11.46 Col. Gulf - Erath ...

EIA forecasts less natgas, more coal by 2030.(CURRENT)
March 6, 2006... The "dash for gas" to be used in the electric power sector will slow down and then reverse because of higher fuel costs, according to the top dog at the Energy Information Administration. EIA Administrator Guy Caruso spoke at the Lukens...

Colorado bill funds feasibility study of IGCC at high altitudes.(CURRENT)
March 6, 2006... The Colorado General Assembly is considering House Bill 1281 that would set aside $3 million a year for three years to demonstrate the feasibility of integrated gasification combined cycle (IGCC) technology at high altitudes, which can...

Spot electricity trading.(CURRENT)
March 6, 2006... SPOT ELECTRICITY TRADING Trading Dates: February 27-March 3, 2006 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Comparative fuel prices.(CURRENT)
March 6, 2006... COMPARATIVE FUEL PRICES (Cash Market) March 6, 2006 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $54.00/ton $7.18/MMBtu $2.25/MMBtu EAST COAST ...

Shippers on board for 1,400-mile Rockies Express pipe to midwest.(Regional Market Roundup)
March 6, 2006... Kinder Morgan and partner Sempra Energy said last week that they received shipper commitments for all of the capacity on the $4 billion Rockies Express pipeline, a nearly 1,400-mile pipeline that will stretch from northern Colorado to eastern...

Baker Hughes rig count.(Regional Market Roundup)
March 6, 2006... [ILLUSTRATION OMITTED] BAKER HUGHES RIG COUNT Week Ended Mar. 3 Rotary Rigs Current Previous Year Week Week Ago Total US 1,531 1,543...

Gas price trends.(Regional Market Roundup)
March 6, 2006... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNA MTNS MEXICO South North Mar 6, 2006 Inter (well) - - 5.24 5.20 ...

Alberta eyeing gasification as playing vital role in oil sands.(Canadian Markets)
March 6, 2006... Energy is the engine of Alberta's economy, and Alberta Premier Ralph Klein says he aims to further bolster that role by raising coal gasification to the importance of oil sands development, which could provide synergies as well as lead to a...

China eyeing gas price hike to cool demand, encourage imports.(World Roundup)
March 6, 2006... China is weighing a sharp increase in domestic gas prices as a means to dampen rampant growth in industrial and fertilizer manufacturing demand that looks to be pulling supply from power generators. One result could be to make imported LNG and,...

Canadian price report.(World Roundup)
March 6, 2006... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas Eastport...

Natgas 30 Tcf market unlikely, but $50-plus crude here to stay.(World Roundup)
March 6, 2006... Will the US ever see a 30 Tcf/year natural gas market? Not likely, at least anytime in the foreseeable future, says EIA head Guy Caruso. Though once considered an article of faith in the industry just a few years ago, the 30 Tcf benchmark...

Natural gas weekly spot prices.
March 13, 2006... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 3/7-3/13 Avg. Avg. Mar. Price Daily Daily Bid Point $/MMBtu Chg....

Midwest AGs' study critical of NatGas market 'disingenuous'.
March 13, 2006... The attorneys general of Illinois, Iowa, Missouri and Wisconsin--the latest in a long line of public officials to rail against high natural gas price levels--released a study last week to bolster their claim that "market fundamentals can't...

Weighing options: stabilizing prices invite industrial hedging.
March 13, 2006... With natural gas futures prices stubbornly holding in the mid- to upper $6/MMBtu range, the market is bracing for prices to break higher or lower. But many once-burned large industrial end-users aren't taking chances and locking in what could...

Shoulder season blahs likely to keep natural gas prices adrift.
March 13, 2006... For nearly three weeks, natural gas futures have been mostly drifting sideways--not falling significantly, but also not gaining enough upside momentum to warrant a full steam bull run past the $7 area. And in the absence of any real drivers...

Under the gun: panel sets sight on drilling off Florida coastline.
March 13, 2006... As natural gas prices spiked upward of $14/MMBtu last September, momentum picked up pace in Congress to open areas with drilling bans to natural gas development. New legislation in the battle for more access--particularly in the Gulf of...

Norton resigns.(Late news)
March 13, 2006... Norton resigns: After five years in her position, Interior Secretary Gale A. Norton on Friday announced she will leave the Bush Cabinet at the end of March. Norton was a former Colorado attorney general who guided the Bush administration's...

Acquisition approved.(Late news)
March 13, 2006... Acquisition approved: Duke Energy on Friday said its shareholders have approved the firm's planned $9 billion purchase of Cinergy. Cinergy's shareholders also approved the acquisition earlier in the day. Officials with both companies said the...

Asset sale.(Late news)
March 13, 2006... Asset sale: Black Hills will acquire Koch Exploration oil and gas assets in the Piceance Basin in western Colorado for an undisclosed sum. In a joint statement, the two companies said the transaction is expected to be completed by the end of...

Deeper shale intervals explored; Adding allure to Fayetteville play.
March 13, 2006... Southwestern Energy, already sitting on a huge and highly promising acreage position in the Fayetteville Shale gas play in Arkansas, has indicated that deeper shale intervals in the same area could further boost its reserves and production. The...

Intrastate weekly spot prices.
March 13, 2006... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 3/7-3/13 Avg. Avg. Mar. Price Daily Daily Bid Point $/MMBtu Chg. High...

Energy industry seen grasping opportunity, facing challenges.
March 13, 2006... For several years now, the energy industry has been beating the drum about the challenges posed by new technology, the shortage of personnel and access to restricted lands. The difference now, according to Marathon Oil President and Chief...

Prices and differentials for major hubs and selected city gates.
March 13, 2006... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES March 13, 2006 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 3/6 3/7 3/8 3/9 3/10 HH-NY ...

Storm-wary Petsec Energy adding $30 million to Gulf E & P budget.
March 13, 2006... Petsec Energy has said $30 million raised in a share placement program will be used to expand the company's Gulf of Mexico natural gas drilling operations. The company's 2005 budget was $25 million, which included drilling programs in both the...

North American weekly gas storage.
March 13, 2006... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Mar. 3 Feb. 24 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1001 ...

Supermajors lead the way with fourth-quarter earnings reports.
March 13, 2006... Despite the lingering fallout from Hurricanes Katrina and Rita, fourth-quarter earnings reports have been mixed with Exxon Mobil posting a record quarterly profit of $10.3 billion ($1.65/share), sharply higher than the expected $1.44/share,...

Natural gas futures.
March 13, 2006... NATURAL GAS FUTURES Trading Dates: March 6-March 10, 2006 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume...

Pipeline capacity utilization.
March 13, 2006... PIPELINE CAPACITY UTILIZATION Pipeline Point Name Capacity Feb-06 Jan-06 Colorado Interstate Cheyenne 590,000 96% 82% Gas Columbia Gas Leach 2,218,000...

New gas-fired capacity hard sell in PJM market.(CURRENT)
March 13, 2006... The independent Market Monitoring Unit (MMU) of PJM said last week in its annual State of the Market report that PJM remained competitive in 2005. The MMU evaluates the various PJM markets for manipulation or abuse. PJM is the regional...

States taking hard look at high prices.(CURRENT)
March 13, 2006... Direct Energy Services, a non-utility retail supplier, said last week it will offer natural gas and electricity retail products to residents and businesses in New York. Direct Energy Services will initially supply power throughout the...

Revenues to stoke alternative energy; Sector to grow fourfold.(CURRENT)
March 13, 2006... Global revenues for clean-energy markets could grow fourfold, from $40 billion in 2005 to $167 billion by 2015 according to the research firm Clean Edge. The firm said biofuels, fuel cells and distributed hydrogen, solar photovoltaics, and...

AEP utility planning gas-fired expansion.(CURRENT)
March 13, 2006... Public Service Company of Oklahoma (PSO), a American Electric Power subsidiary, will add 170 MW of gas-fired generating capacity to the 900 MW Riverside Station. With the addition of two new gas combustion turbines, the plant's peak...

Spot electricity trading.(CURRENT)
March 13, 2006... SPOT ELECTRICITY TRADING Trading Dates: March 6-March 10, 2006 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT Week...

California utility grows green supply.(CURRENT)
March 13, 2006... Pacific Gas & Electric (PG & E) agreed to buy 120 MW of geothermal energy resources from the Military Pass-Newberry Volcano Project to meet renewable portfolio standards (RPS). The utility now has renewable contracts for 563 MW of renewable...

Alcoa may use coal for smelter restart.(CURRENT)
March 13, 2006... Alcoa is considering reopening its shuttered Eastalco aluminum smelter by building a coal-fired power plant. The Frederick, Maryland, smelter was closed in December because of high power prices. Alcoa spokesman Kevin Lowery said building...

Comparative fuel prices.(CURRENT)
March 13, 2006... COMPARATIVE FUEL PRICES (Cash Market) March 13, 2006 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $54.00/ton $6.87/MMBtu $2.25/MMBtu EAST COAST...

Chevron reports plan for robust production growth through 2010.(Regional Market Roundup)
March 13, 2006... Chevron will maintain annual capital expenditures at around $15 billion or slightly higher through 2008 in pursuit of its target of raising production to more than 3 million barrels of oil equivalent per day by 2010, the company's chief...

Baker Hughes rig count.(Regional Market Roundup)
March 13, 2006... BAKER HUGHES RIG COUNT Week Ended Mar. 10 Rotary Rigs Current Previous Year Week Week Ago Total US 1,532 1,531 1,282 Land ...

Gas price trends.(Regional Market Roundup)
March 13, 2006... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO TEXAS Gulf Coast Gulf Coast ...

Ziff: Canadian output heads for decline, but market will balance.(Canadian Markets)
March 13, 2006... The Western Canadian Sedimentary Basin may show slight gains in natural gas output over the next year or so, but beyond that the basin's maturity will start to show, cutting production by around 1 billion cubic feet per day to 14 Bcf/d in 2014,...

Bolivia eyes nationalization of majors' local energy companies.(World Roundup)
March 13, 2006... In a bid to invigorate its long dormant state oil and gas company YPFB, Bolivia plans to regain majority control over three of the country's largest private oil and gas firms. Under the plan YPFB would take a 51% stake in the Andina, Chaco...

Kuwait reports major NatGas, oil find.(World Roundup)
March 13, 2006... Kuwait reports the discovery of some 35 Tcf in new gas resources and 10 billion-13 billion barrels of light oil. The gas discovery is significant for Kuwait, which now imports 70%-80% of its needs. The northern Sabriya and Umm Niqa acreage...

Shell may revive Indian LNG terminal.(World Roundup)
March 13, 2006... Royal Dutch Shell may revive operations at its Hazira merchant LNG terminal by hiring out capacity to India's state-run Gail utility. Gail is in talks with Shell to rent 335 million cubic feet per day of capacity at Hazira for four years,...

Canadian price report.(World Roundup)
March 13, 2006... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA ALBERTA Huntingdon/ Kingsgate/ Total Sumas...

Forget storage: judging Winter strip, $6 NatGas is a real deal.
March 13, 2006... As April gas futures bottomed out around $6.45/MMBtu last week, it sure felt solid in spite of the fact--by any reckoning--early March storage shouldn't be sitting at 1,887 Bcf. And there's only one week of cold forecast for mid-March before...

Gas price report.
March 13, 2006... GAS PRICE REPORT ($/MMBtu--Spot) March 13, 2006 Interstate Intrastate Delivered Delivered Wellhead Wellhead To Pipeline To Utility Bid Bid ...

Natural gas weekly spot prices.
March 20, 2006... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 3/14-3/20 Avg. Avg. Mar. Price Daily Daily Bid Point $/MMBtu...

Rig shortage brings new angle to western permitting debate.
March 20, 2006... The Bureau of Land Management (BLM) has been awash in a sea of applications to drill in the West. Nationwide, the number of drilling permits has tripled in the last six years, with more than 95% of these applications concentrated in New Mexico,...

Feinstein seeking CFTC oversight of unregulated OTC markets.
March 20, 2006... US Sen. Diane Feinstein (D-California) is working on an amendment to the Commodity Exchange Reauthorization Act of 2005 that is intended to create greater transparency and better oversight in the currently unregulated OTC markets, however, the...

Traders eye technicals, storage, geopolitics as market drivers.
March 20, 2006... Indicators suggest that April gas futures prices could see another week of hefty volatility following another tug of war between market bulls and bears in the energy complex. Much of the continued upward momentum will be dependant upon...

McMoRan LNG terminal facing major opposition in Bayou State.
March 20, 2006... A proposed LNG receiving terminal off the coast of Louisiana is finding the going anything but smooth as it faces a well organized opposition in a state that has a reputation of being friendly to the energy industry. McMoRan Exploration...

Drilling approved.(Late news ...)
March 20, 2006... Drilling approved: The Senate approved legislation late Thursday that would allow energy companies to drill in the Arctic National Wildlife Refuge. The Senate voted 51-49 Thursday to approve a budget bill that would end a 26-year moratorium and...

Appointment named.(Late news ...)
March 20, 2006... Appointment named: The White House has announced that President Bush has picked Idaho Gov. Dirk Kempthorne to be his new interior secretary, selecting a pro-development Western Republican to push for more oil and gas drilling from the Gulf of...

Pipeline proposed.(Late news ...)
March 20, 2006... Pipeline proposed: Northwest Gas Transmission has said it plans to build a new natural gas pipeline in northern Ohio to offer the state more reliable, diverse and competitively priced natural gas. The company said it will court contracts from...

Former president sees people, technology going hand-in-hand.
March 20, 2006... Innovation, technology and people are all the key ingredients for a business or an industry to thrive. That was the message given recently by former President George H.W. Bush, the 41st president of the US, during a luncheon address at the...

Intrastate weekly spot prices.
March 20, 2006... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 3/14-3/20 Avg. Avg. Mar. Price Daily Daily Bid Point $/MMBtu Chg. High...

Prices and differentials for major hubs and selected city gates.
March 20, 2006... March 20, 2006 US$/MMBtu, Volume-Weighted [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 3/13 3/14 3/15 3/16 3/17 HH-NY +0.73 +1.00 +0.89 +0.88 +0.84 HH-Chicago -0.38 -0.44...

Intelligent systems help Norway lead world in connected fields.
March 20, 2006... In another three years, oil and gas fields off the coast of Norway may become the most connected in the world. Known as either the smart oilfield or the intelligent oilfield, the concept is the same--drilling platforms are connected to an...

New natgas-based Opec, not likely says one industry expert.
March 20, 2006... As global natural gas trade grows with the expansion of the liquefied natural gas business, will an Opec-like group of natural gas exporters be formed? Not likely, said George Eynon, vice president of business development and external...

North American weekly gas storage.
March 20, 2006... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Region Mar. 10 Mar. 3 Weekly Year Yr. Ago 5-year 5-year Week Week Change Ago Change Average Change US East 951 1001...

Natural gas futures.
March 20, 2006... NATURAL GAS FUTURES Trading Dates: March 13 - March 17, 2006 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last...

Far East still dominating LNG market; changes forecast.(Atlantic Basin LNG Update)
March 20, 2006... Despite fluctuations in natural gas prices in the US and Europe, the impact on the global LNG market should be rather modest, traders say. The market continues to be dominated by Far East countries, particularly Japan, but that situation should...