Natural Gas Week articles from May 2005

Natural Gas Week archives from May 2005

Natural gas weekly spot prices.
May 2, 2005... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 4/26-5/2 Avg. Avg. May Price Daily Daily Bid Point $/MMBtu Chg....

US gas, crude futures prices in hands of European Union voters.
May 2, 2005... Nymex crude and natural gas futures prices may be significantly impacted in the coming month as Europeans head to the polls to vote on the new European Union Constitution, because no matter what the result, the fallout from the referendum will...

Senate bill circumvents Florida drilling ban in gas-rich waters.
May 2, 2005... A move is afoot in the Senate to open up an area of the Gulf to drilling, now closed by the Florida drilling ban. Two US senators say they will introduce a bill that would strip Florida jurisdiction over parts of Lease 181 by instructing...

Emerging bears push down energy contracts, more downside seen.
May 2, 2005... Increasingly bearish fundamental and technical indicators throughout the petroleum complex took the steam out of energy futures last week, sinking Nymex June crude oil futures below $50 a barrel by Friday, which in turn helped pressure the June...

Directional drilling at center of fight over park resources.
May 2, 2005... Directional drilling, long accepted as a way drillers can ease the size of their "footprint" in sensitive areas, has become a hot-button topic in a heated political debate about drilling under the Gulf Islands National Seashore off the coast of...

LNG deals signed.(Late news ...)
May 2, 2005... LNG deals signed: State-owned China National Offshore Oil Corp. (CNOOC) has signed two separate agreements to build LNG terminals in Zhejiang and Hebei provinces, according to company announcements this week. CNOOC inked a preliminary agreement...

Properties sold.(Late news ...)
May 2, 2005... Properties sold: Ketch Resources Trust has bought natural gas properties in British Columbia and Alberta from an unnamed company in a deal worth $199.88 million. The properties are at Martin Creek in northeastern British Columbia and Lookout...

House explosion spawns anti-LNG fervor in Cove Point home state.
May 2, 2005... A late March house explosion in District Heights, Maryland, has blossomed into probing questions from area legislators not only about the safety of the natural gas pipeline infrastructure in the area, but also, in a somewhat unforeseen...

Intrastate weekly spot prices.
May 2, 2005... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 4/26-5/2 Avg. Avg. May Price Daily Daily Bid Point $/MMBtu Chg. High Low...

ChevronTexaco lands in middle of California conspiracy theory.
May 2, 2005... The petroleum industry has abounded with conspiracy theories going back even before John D. Rockefeller cornered the market on railcars and pipelines in the Ohio and Pennsylvania oil fields more than 120 years ago, but most alleged schemes...

Prices and differentials for major hubs and selected city gates.
May 2, 2005... May 2, 2005 US$/MMBtu, Volume-Weighted [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 4/25 4/26 4/27 4/28 4/29 HH-NY +0.49 +0.41 +0.49 +0.78 +0.47 HH-Chicago -0.01 -0.02 +0.06...

Blackstone bid could threaten Nymex open outcry floor trading.
May 2, 2005... Tony Rosado, a floor trading specialist on the New York Mercantile Exchange was in Houston earlier this month playing golf and meeting with clients and fellow traders. It's the sort of thing the veteran trader does occasionally, trying to...

Composite spot wellhead price.
May 2, 2005... COMPOSITE SPOT WELLHEAD PRICE January 2001 to Present ($/MMBtu) Year Jan. Feb. March April May June July August Sept. Oct. 2005 6.05 5.99 6.77 6.99 2004 5.90 4.79 5.28 5.62 6.17 6.11 5.82 5.37 4.84...

Kinder Morgan eyes LNG market, but still eschews merchant role.
May 2, 2005... The Kinder Morgan companies, which together comprise one of the largest US midstream commodity pipeline and transportation entities, are looking to get into the LNG business, at least on the infrastructure side. But don't hold your breath...

Natural gas futures.
May 2, 2005... NATURAL GAS FUTURES Trading Dates: April 25 - April 29, 2005 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last...

Analysts report gas volume dip, supply crunch seen on horizon.
May 2, 2005... Don't look for a turnaround in North American gas production anytime soon. A recent report by Lehman Brothers concludes that US gas production will slide by 2% per year through 2009. Those year-over-year declines follow what Lehman analyst...

North American weekly gas storage.
May 2, 2005... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Apr. 22 Apr. 15 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 636 ...

Canadian officials upbeat about Alberta natural gas production.
May 2, 2005... Canadian energy officials arrived in Washington, D.C., in force last week to convince US industry and political leaders that Canada's natural gas prospects are anything but in decline. "The sun is rising not setting" Greg Melchin Alberta's...

Natural gas bidweek prices.
May 2, 2005... NATURAL GAS BIDWEEK PRICES Flow Dates: 5/1-5/31 May Chg. Prev. Price Avg. from Bid- Point $/MMBtu Prev....

Excelerate considers siting LNG terminal off Northern California.
May 2, 2005... If Excelerate Energy Chief Executive Kathleen Eisbrenner and her staff occasionally feel as if they were navigating the starship Enterprise, going where no one has ever gone before as they cruise through the still developing North American LNG...

Bush energy speech covers wide ground, includes LNG controversy.
May 2, 2005... In an attempt to limit criticism and political fallout stemming from high-energy prices, President Bush proposed measures last week to increase LNG supplies, encourage new refineries and build more nuclear plants. He also sought to popularize...

NGW's monthly weighted averages.
May 2, 2005... NGW'S MONTHLY WEIGHTED AVERAGES $/MMBtu Price Point Apr.'05 Mar.'05 Feb.'05 Jan.'05 Dec.'04 Gulf Coast ANR SE 7.09 6.82 5.99 6.09 6.45 Col. Gulf - Erath 7.21 6.87...

Oil sands could temper US power fuel risks.(CURRENT)
May 2, 2005... A newly approved transmission project in Alberta returns the spotlight to an unexploited potential for the oil sands--providing power for the US and Canadian markets to mitigate price and supply risks. The Alberta Electric System Operator...

Project uses CHP for home heat, power.(CURRENT)
May 2, 2005... Climate Energy and Honda Motor Co. went public last week with plans to commercialize technology that will help residents create heat and electricity during the winter in their homes. Climate Energy will do a pilot project in Massachusetts...

FPL Energy, LIPA plan offshore wind farm off Long Island coast.(CURRENT)
May 2, 2005... FPL Energy, the nation's largest wind farm developer, is moving offshore with its next windfarm in partnership with the Long Island Power Authority (LIPA). The companies filed an application last week with the US Army Corps of Engineers to...

Bush lauds nuclear option in proposal.(CURRENT)
May 2, 2005... President Bush continued to include new nuclear generation in his call for a US energy policy last week. "Nuclear power is one of the safest, cleanest sources of power in the world, and we need more of it here in America," Bush said,...

Spot electricity trading.(CURRENT)
May 2, 2005... SPOT ELECTRICITY TRADING Trading Dates: April 25-April 29, 2005 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

New York tidal power test gets FERC OK.(CURRENT)
May 2, 2005... Verdant Power received the green light from the Federal Energy Regulatory Commission to test an estimated $15 million tidal power project in New York state, but the company still needs other permits. The three-phase project is in its second...

Comparative fuel prices.(CURRENT)
May 2, 2005... COMPARATIVE FUEL PRICES (Cash Market) May 2, 2005 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $59.00/ton $7.28/MMBtu $2.46/MMBtu EAST COAST New...

ConocoPhillips to operate new Helmerich & Payne rigs.(Regional Market Roundup)
May 2, 2005... Tulsa, Oklahoma-based Helmerich & Payne said last week that ConocoPhillips has signed a letter of intent to operate three of the firm's new rigs in the San Juan Basin in northwestern New Mexico. The company also posted strong second quarter...

Baker Hughes rig count.(Regional Market Roundup)
May 2, 2005... [ILLUSTRATION OMITTED] BAKER HUGHES RIG COUNT Week Ended Apr. 29 Rotary Rigs Current Previous Year Week Week Ago Total US 1,325 1,343...

Gas price trends.(Regional Market Roundup)
May 2, 2005... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO South North May 2, 2005 Inter (well) - - 6.04 5.92 Intra...

Imperial stops work on Mackenzie pipeline, cites native dispute.(Canadian Markets)
May 2, 2005... Imperial Oil dropped a bit of a bombshell Thursday when it announced it is stopping all non-regulatory work on the proposed C$7 billion (US$6 billion) Mackenzie Valley natural gas pipeline in Canada's Northwest Territories, the continent's...

Floating offshore LNG project given Mexican environmental OK.(World Roundup)
May 2, 2005... A $55 million floating LNG project proposed off the coast of Baja California has been given a green light by Mexico's environmental agency. The project consists of an LNG tanker being converted into a floating and regasification unit known...

Canadian price report.(World Roundup)
May 2, 2005... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas ...

US Helium recovery project nets profits in byproduct gas sales.
May 2, 2005... As part of the nation's energy portfolio--it probably isn't even a footnote. The Minerals Management Service completed its fourth sale of natural gas from government helium reserves in March, according to Leslie Theiss, field manager for...

Natural gas weekly spot prices.
May 9, 2005... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 5/3-5/9 Avg. Avg. May Price Daily Daily Bid Point $/MMBtu...

Deh Cho firm on demands, bogs down Mackenzie Valley pipeline.
May 9, 2005... As a young pipeline engineer in the 1970's, Wilf Gobert cut his professional teeth working on the first Mackenzie Valley pipeline proposal, which fell victim to crashing natural gas prices and the failure of Canada's federal government to reach...

BLM backs down from lease sale near historical New Mexico site.
May 9, 2005... An upcoming Bureau of Land Management auction of several New Mexico leases near an archeologically significant site has been canceled. The mid-May sale had drawn the ire of many conservationists, who felt the offerings were uncomfortably...

Bullish technicals win pitched battle over bearish fundamentals.
May 9, 2005... A battle between fundamental and technical indicators had bears and bulls at odds last week as prices tested new lows early in the week only to be followed by an impressive technically driven rebound in June gas futures prices. And because...

Greens fuming, industry smiling over US Roadless Rule changes.
May 9, 2005... Environmentalists were handed another biting defeat Thursday when the Bush Administration--prodded by a 2003 court ruling--moved to open up nearly 60 million acres in national forests to prospective road building, logging and other commercial...

Plans for nukes unveiled.(Late news ...)
May 9, 2005... Plans for nukes unveiled: NuStart Energy, a group of nine nuclear power companies with 58% of US nuclear supply, will choose by October 2005 the two locations where it plans to build new nuclear plants. NuStart also said it will file the final...

New LNG terminal.(Late news ...)
May 9, 2005... New LNG terminal: Houston-based Torp Technology is planning an offshore LNG receiving and regasification facility in the Main Pass area of the Gulf of Mexico that will be the first in the US to use HiLoad Technology--a floating L-shaped...

LNG terminal challenged.(Late news ...)
May 9, 2005... LNG terminal challenged: A NAFTA review board has been asked to review the effects of ChevronTexaco's plans for an LNG plant on Coronado Islands in Baja California. The islands are about 11 miles southwest of San Diego, California. The North...

Devon continues moves into new areas in Gulf states, Canada.
May 9, 2005... The Barnett Shale of North Texas clearly forms the cornerstone of Devon Energy's North American gas business, but the company is also moving full steam ahead in other areas such as East Texas, Canada and the Gulf of Mexico. During an...

Intrastate weekly spot prices.
May 9, 2005... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 5/3-5/9 Avg. Avg. May Price Daily Daily Bid Point $/MMBtu Chg. High Low...

Independents see opportunities where majors once ruled in Gulf.
May 9, 2005... Independents are still finding plenty of opportunities to keep them busy in the Gulf of Mexico, according to executives from a trio of companies who talked to energy reporters at this year's Offshore Technology Conference in Houston. Noble...

Prices and differentials for major hubs and selected city gates.
May 9, 2005... May 9, 2005 US$/MMBtu, Volume-Weighted [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 5/2 5/3 5/4 5/5 5/6 HH-NY +0.45 +0.51 +0.52 +0.48 +0.45 HH-Chicago +0.04 +0.01...

LNG terminals facing many hidden hurdles in construction.
May 9, 2005... Security, siting and environmental concerns may be the big three headline grabbers when it comes to LNG terminals, but hidden issues such as supply coordination and the availability of steel and concrete are just as critical. "There are a...

North American weekly gas storage.
May 9, 2005... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Region Apr. 29 Apr. 22 Weekly Year Yr. Ago 5-year 5-year Week Week Change Ago Change Average Change US East 657 ...

Energy bill provision called a windfall for oil, gas companies.
May 9, 2005... A seemingly innocuous provision in the voluminous energy bill passed by the House of Representatives could have far-reaching ramifications, as it would require the federal government to pay billions of taxpayer dollars to oil companies as...

Natural gas futures.
May 9, 2005... NATURAL GAS FUTURES Trading Dates: May 2 - May 6, 2005 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume ...

Study points out problems among aging UK rigs.
May 9, 2005... A study released at the Offshore Technology Conference 2005 in Houston last week paints a troubling picture for the offshore rigs on the UK's Continental Shelf. According to the study, of the more than 6,000 oil and gas wells located in the...

Pipeline capacity utilization.
May 9, 2005... PIPELINE CAPACITY UTILIZATION Pipeline Point Name Capacity Apr-05 Colorado Interstate Cheyenne 590,000 76% Gas Columbia Gas Leach 2,218,000 73%...

Hybrid aircraft, data systems among highlights at OTC 2005.
May 9, 2005... An aircraft that can take off and land like a helicopter and a rugged, new data gathering system were two of the technological advances showcased at the Offshore Technology Conference 2005 in Houston this week. The BA609 "is the next big...

Texas zonal deregulation success questioned.(CURRENT)
May 9, 2005... Is Texas deregulation all sizzle and no steak? Well, it depends on who's doing the talking in a power market that relies on natural gas-fired generation. The Public Utility Commission of Texas (PUCT) has required that current market...

Suez: software key to grow market share.(CURRENT)
May 9, 2005... Suez Energy Resources NA, formerly Tractebel Energy Services, wants to corner the small commercial and industrial end-users in Texas' competitive power markets, and just launched a software system to help. Software has continued to play a...

PJM grows with integration of Dominion; FERC OKs PJM DG plan.(CURRENT)
May 9, 2005... Dominion has joined the RTO PJM by integrating the operations of Dominion's Virginia and North Carolina transmission assets into PJM's vast network. Also last week, federal regulators approved standardized connection rules for small distributed...

Utilities test Co-firing biomass, coal.(CURRENT)
May 9, 2005... Green Energy Resource expects to begin trials this year with utilities in the Midwest on its Eco-green coal, which premixes wood biomass and coal that is boiler ready. Co-firing of biomass and coal involves substituting biomass for a...

Spot electricity trading.(CURRENT)
May 9, 2005... SPOT ELECTRICITY TRADING Trading Dates: May 2-May 6, 2005 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Nanotechnology, solar make hydrogen.(CURRENT)
May 9, 2005... Some believe the development of hydrogen-fueled vehicles can be accelerated by combining nanotechnology and solar energy. Scientists told United Press International that solar generation of hydrogen could be seen as soon as three to four...

Comparative fuel prices.(CURRENT)
May 9, 2005... COMPARATIVE FUEL PRICES (Cash Market) May 9, 2005 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $59.00/ton $7.03/MMBtu $2.46/MMBtu EAST COAST New York...

Members of Congress demand drilling ban to remain in place.(Regional Market Roundup)
May 9, 2005... Over 100 members of the US House of Representatives are pressing the Appropriations Committee to make sure the current congressional ban on offshore drilling in certain areas off the US West and East coasts remains in place. "We are...

Baker Hughes rig count.(Regional Market Roundup)
May 9, 2005... [ILLUSTRATION OMITTED] BAKER HUGHES RIG COUNT Week Ended May. 6 Rotary Rigs Current Previous Year Week Week Ago Total US 1,324 1,325...

Gas price trends.(Regional Market Roundup)
May 9, 2005... GAS PRICE TRENDS ($/MMBtu) ROCKY CALIFORNIA MTNS South North May 9, 2005 Inter (well) - - 5.75 Intra (well) 5.92 -...

Nova Scotia, Canada streamline permits to jump start drilling.(Canadian Markets)
May 9, 2005... Energy officials from the Canadian province of Nova Scotia are optimistic that recent changes in the provincial and federal regulatory schemes will stimulate a resumption of drilling and development activity offshore Atlantic Canada. Nova...

Brazilian state firm Petrobras targets upstream Gulf of Mexico.(World Roundup)
May 9, 2005... Brazilian state oil company Petrobras plans to invest $1.9 billion on upstream projects in the Gulf of Mexico over the next five years. Speaking at the Offshore Technology Conference in Houston, Renato Bertani, head of Petrobras America,...

Canadian price report.(World Roundup)
May 9, 2005... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas ...

Summer forecasts portend slow start to heat, hell of a finish.
May 9, 2005... If US government and other private forecasts are right, summer loads could come in with the bears and go out with the bulls as seasonal heat will ramp-up slowly before scorching weather arrives in July. Andover, Massachusetts-based weather...

Gas price report.
May 9, 2005... GAS PRICE REPORT ($/MMBtu--Spot) May 9, 2005 Interstate Intrastate Delivered Delivered Wellhead Wellhead To Pipeline To Utility Bid ...

Natural gas weekly spot prices.
May 16, 2005... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 5/10-5/16 Avg. Avg. May Price Daily Daily Bid Point $/MMBtu Chg....

Omissions seriously flaw CFTC hedge fund report, sources say.
May 16, 2005... The report is more detailed and far more scholarly than that released earlier by the New York Mercantile Exchange, but sources say the recent Commodity Futures Trading Commission study on speculative influence in the futures market is just as...

LNG: tempting terrorist target or safe, secure urban resource.
May 16, 2005... A 159-page report released last week has raised anew safety concerns surrounding LNG tankers and terminals, saying the facilities are "attractive targets" for terrorists and there isn't much that can be done to stop or prevent such attacks. ...

Market bears poised to strike further blow to gas contract.
May 16, 2005... Weak domestic and global fundamentals in the petroleum markets roused market bears last week, putting a damper on the bull-controlled market of late. And while minor technical rebounds may emerge along the way, many traders are betting selling...

Natural gas futures.
May 16, 2005... NATURAL GAS FUTURES Trading Dates: May 9 - May 13, 2005 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume ...

First nations negotiating impasse to Mackenzie pipeline progress.
May 16, 2005... Imperial Oil's threat to "go slow" on the C$7 billion (US$5.66 billion) Mackenzie Valley pipeline project just over two weeks ago appears to be paying dividends, with the Canadian government now saying it will create a temporary fund to help...

Blast shuts down plant.(Late news ...)
May 16, 2005... Blast shuts down plant: The 484-MW Harrison County Power Project in Harrison County, Texas, was shut down early Friday after a natural gas pipeline that fuels the plant exploded. The plant is located about 150 miles east of Dallas near the...

Drilling deal signed.(Late news ...)
May 16, 2005... Drilling deal signed: Questar Exploration and Production and Questar Gas Management said today that they have signed an agreement with the Ute Indian tribe to explore for natural gas on 12,557 acres of tribal lands in the Uinta Basin of...

Pipeline project announced.(Late news ...)
May 16, 2005... Pipeline project announced: Halifax-based Maritimes & Northeast Pipeline said today it will triple the capacity of its 930-mile long natural gas pipeline from Nova Scotia to Massachusetts by way of Maine. The project calls for increasing the...

Congress wrangles over energy bill, key issues still on the table.
May 16, 2005... A compromise on key oil and gas provisions remains elusive even as a Senate panel rolled out a detailed plan of action starting this Tuesday for a broad energy bill, indicating the difficulty that lies ahead for the legislation. Despite a...

EOG bets future on 'weird' gas plays once eschewed, now prized.
May 16, 2005... The North American natural gas business is getting really "weird," says Mark Papa, chairman and chief executive of Houston-based EOG Resources. By weird, Papa said at the recent Howard Weil Energy Conference, he means unconventional...

Intrastate weekly spot prices.
May 16, 2005... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 5/10-5/16 Avg. Avg. May Price Daily Daily Bid Point $/MMBtu Chg. High...

Prices and differentials for major Hubs and selected City Gates.
May 16, 2005... [ILLUSTRATION OMITTED] May 16, 2005 US$/MMBtu, Volume-Weighted SELECTED DAILY DIFFERENTIALS Differential 5/9 5/10 5/11 5/12 5/13 HH-NY +0.51 +0.56 +0.51 +0.49 +0.47 HH-Chicago -0.14 -0.02...

Petsec plan pays off with Gulf gas find on Main Pass prospect.
May 16, 2005... Petsec Energy's plan of an aggressive drilling program with its capital spending plan for 2005 is paying off as the company announced a commercial gas discovery this week on its Main Pass prospect in the Gulf of Mexico. The company's 2005...