Natural Gas Week articles from May 2007

Natural Gas Week archives from May 2007

Natural gas weekly spot prices.
May 7, 2007... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 5/1-5/7 Avg. Avg. May Price Daily Daily Bid Point $/MMBtu Chg....

US gasoline addiction threatens to crack NatGas bears' position.
May 7, 2007... As refiners gear up for the challenge of meeting summer gasoline demand, some industry insiders say the tweaking of the 3-2-1 cracking process in order to produce more gasoline could lead to higher natural gas prices this fall and winter. ...

Western drilling activity said destroying sport hunting lands.
May 7, 2007... It's one thing to take on a green coalition, but now western oil and gas interests are butting heads with folks totin' guns. According to a group of environmentalists and hunters, the Bureau of Land Management has leased more than 27...

Bull market in bear's clothing sparks unexpected NatGas rally.
May 7, 2007... In spite of markedly lighter demand, Nymex June gas futures took flight last week on the back of an unexpected buying spree that seemingly emerged out of thin air. While some traders accused hefty financial players of muscling the market...

New Interior offshore drilling plan that includes Virginia blocks.
May 7, 2007... The US Interior Department unveiled a proposal last week that allows oil and gas drilling in federal waters near Virginia and opens new areas to exploration in the Gulf of Mexico and Alaska's Bristol Bay. In all, the Interior Department's...

Pipe fight.(Late news)
May 7, 2007... Pipe fight: Alaska's largest oil and gas companies say they have no intention of playing ball under the rules set out in Gov. Sarah Palin's natural gas pipeline bill. Exxon Mobil, BP and ConocoPhillips told the state Legislature that the bill...

Gulf survey.(Late news)
May 7, 2007... Gulf survey: CGG-Veritas has started the first in a series of surveys of the Walker Ridge area of the deepwater Gulf of Mexico. The surveys, which will cover 464 blocks, are among the largest such studies ever conducted in the Gulf. A spokesman...

Rig ready.(Late news)
May 7, 2007... Rig ready: Keppel AmFELS is on course to deliver Offshore Courageous, the first of five new, ultra-premium jackup drilling rigs, to Scorpion Offshore by the end of May, A second rig, Offshore Defender, was launched Mar. 31 and is undergoing...

Gulf gas production recovering; deepwater plays next great hope.
May 7, 2007... It may take three more years, but natural gas and oil production from the Gulf of Mexico is continuing to improve. Helping the recovery are deepwater projects that are coming on line and the potential for even greater discoveries. That was...

Intrastate weekly spot prices.
May 7, 2007... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 5/1-5/7 Avg. Avg. May Price Daily Daily Bid Point $/MMBtu Chg. High Low...

Prices and differentials for major hubs and selected city gates.
May 7, 2007... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES May 7, 2007 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 4/30 5/1 5/2 5/3 5/4 HH-NY +0.59...

Alaska asks FERC for special affiliate rules for gas pipeline.
May 7, 2007... The state of Alaska is asking federal regulators to reaffirm open-season rules for a North Slope natural gas pipeline that prohibit big energy companies from sharing proprietary information with their downstream pipeline and marketing...

Composite spot wellhead price.
May 7, 2007... COMPOSITE SPOT WELLHEAD PRICE January 2003 to Present ($/MMBtu) Year Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. 2007 6.25 7.79 6.52 7.07 2006 8.20 7.30 6.47 6.61 5.93 6.04 5.93 7.11 4.60 5.47...

Composite spot delivered-to-pipeline price.
May 7, 2007... COMPOSITE SPOT DELIVERED-TO-PIPELINE PRICE January 2003 to Present ($/MMBtu) Year Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. 2007 6.68 8.44 7.12 7.54 2006 8.28 7.55 6.69 6.77 5.99 6.14 6.15 7.28...

New support ship leads list of innovations showcased at OTC '07.
May 7, 2007... With a champagne toast and a round of applause, the C & M Group last week celebrated the official launch of the Ice Maiden I, a giant multipurpose vessel designed to operate anywhere in the world that's needed to support the offshore energy...

Natural gas futures.
May 7, 2007... NATURAL GAS FUTURES Trading Dates: April 30-May 4, 2007 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume ...

So-so tropical season forecast still puts Gulf at much higher risk.
May 7, 2007... A Houston-based forecasting company raised eyebrows last week at the Offshore Technology Conference 2007 by first forecasting a relatively light hurricane season, but then saying the area with the greatest chance of being hit by a storm was...

North American weekly gas storage.
May 7, 2007... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Apr. 27 Apr. 20 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 716 ...

Natural gas bidweek prices.
May 7, 2007... NATURAL GAS BIDWEEK PRICES Flow Dates: 5/1-5/31 May Chg. Prev. Price Avg. from Bid- Point $/MMBtu Prev. High...

Citygate prices.
May 7, 2007... CITYGATE PRICES May Chg. Prev. Price Avg. from Bid- Point $/MMBtu Prev. High Low Vol. Deals Week Austin, Tx. ...

Vector mulls Phase 2 capacity expansion as Phase 1 winds down.
May 7, 2007... The Rockies Mountain Express Pipeline (Rex) and a variety of other expansion projects are fueling even more development as shippers are hoping to cash in on additional capacity. Vector Pipeline, a joint venture between Enbridge and DTE...

Dockwise, Sealift merger opens new markets for heavy-lift fleet.
May 7, 2007... The merger last week of Dockwise and Sealift has created a company that within two years will have 21 heavy-lift vessels that can transport everything from ships to platforms to rigs. With the Offshore Technology Conference 2007 as a...

NGW's monthly weighted averages.
May 7, 2007... NGW'S MONTHLY WEIGHTED AVERAGES $/MMBtu Price Point Apr-07 Mar-07 Feb-07 Jan-07 Dec-06 Nov-06 Gulf Coast ANR SE 7.53 7.04 7.92 6.22 6.53 7.32 Col. Gulf--Erath 7.55 7.11 ...

Wind, waves, tides drive Scottish power goal.(CURRENT)
May 7, 2007... Using wave action, tidal power and the wind, Scotland is on the fast-track to reaching a national goal of having at least 10% of its electricity generated by renewable power. "It's not only doable, but I think we might reach the national...

PJM on the stump for a smart grid.(CURRENT)
May 7, 2007... Once upon a time, power customers usually were at fault if they lost service--it means they hadn't paid their bill. And with the power industry's metamorphosis towards a "Smart Grid"--one that will provide accurate and instantaneous...

PepsiCo putting out the green; firm now top green power buyer.(CURRENT)
May 7, 2007... When one of the top 100 of the Fortune 500 companies goes green in a big way, a major corporate trend is surely brewing. PepsiCo announced that its power purchases for all of its facilities in the US over the next three years would come from...

Spot electricity trading.(CURRENT)
May 7, 2007... SPOT ELECTRICITY TRADING Trading Dates: April 30-May 4, 2007 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Comparative fuel prices.(CURRENT)
May 7, 2007... COMPARATIVE FUEL PRICES (Cash Market) May 7, 2007 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $43.00/ton $8.27/MMBtu $1.79/MMBtu EAST COAST New...

Judge denies Exxon request for delay in Point Thompson appeal.(Regional Market Roundup)
May 7, 2007... An Alaska superior court judge last week denied Exxon Mobil's request for a delay in its appeal of the state's decision to revoke leases from the Point Thomson oil and gas unit. The judge also ordered Exxon and other Point Thomson...

Baker Hughes rig count.(Regional Market Roundup)
May 7, 2007... BAKER HUGHES RIG COUNT Week Ended May 4 Rotary Rigs Current Previous Year Week Week Ago Total US 1,747 1,747 1,625 Land 1,646 ...

Gas price trends.(Regional Market Roundup)
May 7, 2007... GAS PRICE TRENDS ($/MMBtu) TEXAS CALIFORNIA ROCKY NEW Gulf Coast Gulf Coast South North MTNS MEXICO Offshore Onshore May...

Report: gas production continues falling sharply in Western Canada.(Canadian Markets)
May 7, 2007... Following the declining rig count and operator's concerns over higher operating costs, production in Canada's prolific Western Canadian Sedimentary Basin (WCSB) continues to fall, according to a report issued last week by Calgary-based...

Brazil's Petrobas charts LNG strategy, seeks supply source.(World Roundup)
May 7, 2007... Having last week chartered two floating regasification and storage units, Brazil's Petrobras hopes to sign its first long-term LNG supply deal by August, in good time to start LNG imports in mid-2008, Petrobras Gas and Energy Director Ildo...

Canadian price report.(World Roundup)
May 7, 2007... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ ALBERTA Total Sumas Eastport...

Chavez wins this battle, let's just hope all of us win the war.
May 7, 2007... Last week, ConocoPhillips capitulated and agreed to turn over operational control of three Orinoco heavy oil projects to Venezuela's state-owned oil company Petroleos de Venezuela (PDV) just in time for socialist May Day celebrations, which...

Gas price report.
May 7, 2007... GAS PRICE REPORT ($/MMBtu--Spot) May 7, 2007 Interstate Intrastate Delivered Delivered Wellhead Wellhead To Pipeline To Utility Bid ...

Natural gas weekly spot prices.
May 14, 2007... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 5/8-5/14 Avg. Avg. May Daily Daily Bid Price Point $/MMBtu Chg....

Conoco's Mulva says LNG supply not the slam dunk first thought.
May 14, 2007... ConocoPhillips, one of the first US gas marketers to take capacity in a newbuild LNG receiving terminal, is still looking for supply to fill the 1 billion cubic feet per day it has committed to use. "Unfortunately, supply of LNG is not as...

Oddball Andrea a non-event, but 2007 still expected hard on Gulf.
May 14, 2007... The energy industry was jolted by an early tropical alert last week with the unusual formation of Subtropical Storm Andrea, the first officially named storm of the 2007 Atlantic hurricane season. Even though Andrea turned out to be a...

Traders call foul on phantom speculator as June NatGas rises.
May 14, 2007... For the past few weeks, the behavior of the prompt-month natural gas contract can only be described as bizarre. Even with extremely low-demand weather conditions prevailing over most of the country, the June contract has held its ground even in...

Top Veco execs go down for vote buying; Alaska lawmakers charged.
May 14, 2007... Oil-field services company Veco chief Bill Allen has pleaded guilty to buying the votes of Alaska legislators in last year's rewrite of the state's oil production tax. Allen pleaded guilty in US District Court in Anchorage last week to one...

Alaska pipeline.(Late news)
May 14, 2007... Alaska pipeline: The Alaska state Legislature Friday approved a bill to spur development of a North Slope natural gas pipeline. The Alaska Gasline Inducement Act (Agia) passed the House of Representatives overwhelmingly 37-1. An hour later, the...

Wind growing.(Late news)
May 14, 2007... Wind growing: By the end of the year, the US will push its wind power capacity up by 25%, with more than 3,000 MW of wind power turbines to be added in the US, according to a report released Friday by the American Wind Energy Association...

Purchase OK'd.(Late news)
May 14, 2007... Purchase OK'd: The Federal Trade Commission on Friday gave the green light to US Steel's proposed $2.1 billion purchase of Lone Star Technologies. The FTC reported that they completed their investigation and took no action, clearing the way for...

Judge tosses Exxon Mobil suit over Alaska point Thomson lease.
May 14, 2007... An Alaska superior court judge last week dismissed a lawsuit by Exxon Mobil that sought to recover damages resulting from the state of Alaska's decision to terminate the Point Thomson oil and gas unit. Superior Court Judge Peter Michalski...

EFS gobbling up energy pieces, as GE continues on buying binge.
May 14, 2007... GE Energy Financial Services (GE EFS) has been on a spending spree the last year, quickly diversifying its energy portfolio. In the last six months, the GE unit has finalized its purchase of a natural gas distribution operation in the Rockies,...

Intrastate weekly spot prices.
May 14, 2007... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 5/8-5/14 Avg. Avg. May Daily Daily Bid Price Point $/MMBtu Chg. High Low...

Prices and differentials for major hubs and selected city gates.
May 14, 2007... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES May 14, 2007 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 5/7 5/8 5/9 5/10 5/11 HH-NY ...

Suez refines Calypso LNG project by using offshore Florida delivery.
May 14, 2007... Suez Energy's subsidiary Calypso US Pipeline was granted authority by the Federal Energy Regulatory Commission for a rehearing so that it may begin construction on natural gas pipelines off the Florida coast. In March 2004, FERC authorized...

Tri-Valley shifting its Californian gas exploration into high gear.
May 14, 2007... California-based Tri-Valley is moving ahead with several projects designed to boost the independent's oil and gas production and reportable reserves. "We are in the strongest financial position in our history with ample cash to fund our...

North American weekly gas storage.
May 14, 2007... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Apr. Yr. May 4 27 Weekly Year Ago 5-year 5-year Region Week Week Change Ago...

Survey: investors concerned over impact of increased energy costs.
May 14, 2007... Concerns over higher energy costs and the impact that might have on the US economy were some of the top items in the latest Citi Smith Barney poll of its investors. The poll was conducted of investors who have at least $100,000 in...

Natural gas futures.
May 14, 2007... NATURAL GAS FUTURES Trading Dates: May 7--May 11, 2007 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume ...

Pipeline capacity utilization.
May 14, 2007... PIPELINE CAPACITY UTILIZATION May (2007) May (2006) Location FlowDate Flow Month-to-Date Month-to-Date Transco Zone 6 NY 5/9/2007 1,359,203 1,331,043 1,464,849...

China gasification plants may lead to US projects.(CURRENT)
May 14, 2007... You may not be aware of Henan Province, but it's the cradle of Chinese civilization, where silk was first created and Zen Buddhism began. And now, it's continuing its tradition of auspicious beginnings--this time, as the proving grounds for an...

Coalition balks at transmission growth.(CURRENT)
May 14, 2007... Should the cherished "Nimby" acronym be updated to fit modern times? "Not in My Backyard" has been often--though not exclusively--applied to the issue of siting and building new transmission lines, historically the toughest sector to...

California newspaper enlightens readers, and itself, about solar.(CURRENT)
May 14, 2007... It's all too easy for anyone with a public forum--a talk show; a street corner; a radio broadcast or even a newspaper--to be critical. But one alternative newspaper in California recently showed it could walk the walk, not just talk the talk,...

Spot electricity trading.
May 14, 2007... SPOT ELECTRICITY TRADING Trading Dates: May 7-May 11, 2007 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Comparative fuel prices.
May 14, 2007... COMPARATIVE FUEL PRICES (Cash Market) May 14, 2007 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $43.25/ton $8.10/MMBtu $1.80/MMBtu EAST COAST New...

Calpine fined $4.5 million for violation of shipper-title rules.(Regional Market Roundup)
May 14, 2007... Calpine Energy Services (CES) has agreed to pay a $4.5 million civil penalty for shipping 156.5 billion cubic feet of natural gas through eight pipelines without meeting "shipper-must-have-title" requirements. The Federal Energy Regulatory...

Baker hughes rig count.
May 14, 2007... BAKER HUGHES RIG COUNT Week Ended May 11 Rotary Rigs Current Previous Year Week Week Ago Total US 1,740 1,747 1,627 Land ...

Gas price trends.
May 14, 2007... GAS PRICE TRENDS ($/MMBtu) TEXAS CALIFORNIA ROCKY NEW Gulf Coast Gulf Coast South North MTNS MEXICO Offshore Onshore May...

Canada energy trust deal-making goes into high gear after pause.(Canadian Markets)
May 14, 2007... After an uneventful five months, Canada's energy trusts have picked up the deal-making pace, with two trusts striking big deals over the past week. PrimeWest Energy Trust announced Thursday it is buying rival Shiningbank Energy Income Fund...

Saudi Arabia plans huge growth in NatGas reserves, production.(World Roundup)
May 14, 2007... Saudi Arabia aims to increase its natural gas reserves by almost 40% over the next 10 years, Oil Minister Ali Naimi said last week. The new target is more than double the forecast gas reserve growth outlined by state Saudi Aramco late last...

Canadian price report.
May 14, 2007... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ ALBERTA Total Sumas Eastport...

California greens' rejection of Cabrillo Port a true no-brainer.
May 14, 2007... God knows Californians love being green, but before they toss out the Cabrillo Port LNG project they might consider the ramifications. BHP Billiton wants to develop a deepwater port facility 14 miles off the coast of Ventura County. The...

Gas price report.
May 14, 2007... GAS PRICE REPORT ($/MMBtu--Spot) May 14, 2007 Interstate Intrastate Delivered Delivered Wellhead Wellhead To Pipeline To Utility Bid ...

Natural gas weekly spot prices.
May 21, 2007... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 5/15-5/21 Avg. Avg. May Price Daily Daily Bid Point $/MMBtu Chg....

Agia passage steams producers; stage set for pipeline applications.
May 21, 2007... The Alaska state Legislature last week gave nearly unanimous bicameral consent to Gov. Sarah Palin's plan to spur construction of a multibillion-dollar North Slope natural gas pipeline. Only one of the House and Senate's 60 lawmakers cast a...

Younger, stronger Gulf rig fleet to greet 2007 hurricane season.
May 21, 2007... Any storms that cross into the Gulf of Mexico this year will find a relatively young and in many cases, much stronger offshore fleet waiting for them than in years past. The average age of the 4,000 platforms and rigs in the Gulf of Mexico...

Hitting the wall: fundamentals staunch June gas surge for now.
May 21, 2007... Energy prices from crude to coal surged last week as market anxiety fanned fears of shortages and fueled a late-week June gas futures rally that tested highs not seen since December before slamming into healthy inventories and mild spring...

Colorado senators seek to delay state's Roan Plateau development.
May 21, 2007... Colorado Reps. Mark Udall and John Salazar are asking the House Appropriations Subcommittee on the Interior, Environment and Related Agencies to delay the Bureau of Land Management (BLM) from auctioning oil and gas leases on top of the Roan...

No stake.(Late news)
May 21, 2007... No stake: Jim Prentice, the Canadian minister of Indian and northern affairs said Friday that the possibility of the government taking a stake in the planned C$16.2 billion ($14.8 billion) Mackenzie pipeline project "is not on the table and it...

Royalty relief.(Late news)
May 21, 2007... Royalty relief: The Minerals Management Service proposed a rule Friday that would extend existing deep gas royalty relief in years when the annual NYMEX gas price is at or below $4.47/MMBtu expressed in 2006 dollars. The new measure would...

Capacity OK.(Late news)
May 21, 2007... Capacity OK: The nation's electricity capacity margins should be adequate this summer, barring weather extremes over an extended period, according to the North American Electric Reliability Corporation (Nerc). In its 2007 Summer Assessment,...

K2 deal.(Late news)
May 21, 2007... K2 deal: Nippon Oil and the Mitsubishi confirmed Friday that they have bought a total 23.2% stake in the K2 field in the Gulf of Mexico from Anadarko Petroleum for $1.2 billion.

Excelerate gets federal license; Coast Guard wary of Hess project.
May 21, 2007... The US LNG industry had a 50-50 week with the beleaguered Fall River, Massachusetts, facility taking another body blow and federal officials giving the green light to Excelerate Energy for its Northeast Gateway project in Massachusetts Bay. ...

Intrastate weekly spot prices.
May 21, 2007... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 5/15-5/21 Avg. Avg. May Price Daily Daily Bid Point $/MMBtu Chg. High...

Newfield buying Rocky Mountain NatGas assets from Stone Energy.
May 21, 2007... In a $575 million deal last week, Newfield Exploration got a chance to expand its presence in the Rocky Mountains by buying almost 600,000 acres from Louisiana-based Stone Energy. With the acquisition, Newfield said it is adding proved...

Prices and differentials for major hubs and selected city gates.
May 21, 2007... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES May 21, 2007 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 5/14 5/15 5/16 5/17 5/18 HH-NY ...

Supply fleet encouraged to go green; fuel savings an incentive.
May 21, 2007... Going green was among the key expressions heard at the recently held Offshore Technology Conference in Houston. Leading the call for the world's offshore supply fleet to "go green" was Neil Patterson, managing director of IMT Marine...

North American weekly gas storage.
May 21, 2007... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) May 11 May 4 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 838 777...

Natural gas futures.
May 21, 2007... NATURAL GAS FUTURES Trading Dates: May 14-May 18, 2007 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume ...

El Paso's Cypress pipeline links Florida with Elba Island supply.(Atlantic Basin LNG Update)
May 21, 2007... El Paso-subsidiary Southern Natural Gas (SNG) has just started up the Cypress pipeline, which brings gas from the Elba Island, Georgia, LNG terminal to around Jacksonville, Florida, where it hooks into the Florida Gas Transmission pipeline...