Natural Gas Week articles from November 2004

Natural Gas Week archives from November 2004

Natural gas weekly spot prices.
November 1, 2004... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 10/26-11/1 Avg. Avg. Nov. Price Daily Daily Bid Point $/MMBtu...

Analyst: US supply outlook may not be as bleak as many contend.
November 1, 2004... Is all the recent talk about an irreversible decline in US gas production a little too pessimistic? At least one Wall Street analyst is willing to stick his neck out and say so. "We believe consensus is wrong about never-ending supply...

California LNG project wins support of Australian supplier.
November 1, 2004... Australian independent Woodside said it will support Crystal Energy's proposed liquefied natural gas import terminal at Clearwater Port, off Southern California. Under a heads of agreement, Woodside said last week it will provide technical...

Winter gas futures reach $10, but storage nears capacity.
November 1, 2004... Technical factors dominated in volatile trading last week as near-month natural gas futures moved to settlement, but fundamentals could soon re-emerge as drivers behind the market. Notably, physical traders face a bearish near-term spell of...

New study on Libya's oil & gas potential.
November 1, 2004... After years of living on the fringes of the international oil market, Libya is poised for a surge in foreign investment in oil and gas development. The competition will be fierce. With the recent removal of international sanctions, this...

High gas prices spark call for federal investigation, new laws.
November 1, 2004... US manufacturers and chemical companies are in an uproar over high natural gas futures prices, with calls being made by industry leaders for the government to clamp down on alleged actions by speculators and hedge fund managers who they insist...

EnCana sells assets.(Late news)
November 1, 2004... EnCana sells assets: EnCana has sold its North Sea operations to Nexen for US$2.1 billion. The Canadian producer said it wants to dispose of its interests in Ecuador and the Gulf of Mexico to focus on its North American business ventures.

Damage rig repaired.(Late news)
November 1, 2004... Damage rig repaired: Damaged and set adrift by Hurricane Ivan, Transocean's Deepwater Nautilus has been repaired and is being moved back to an ultra-deep drilling site in the Gulf of Mexico to conduct operations for Shell in 8,951 feet of...

Work begins on LNG plant.(Late news)
November 1, 2004... Work begins on LNG plant: Anadarko officials said construction of their liquefied natural gas terminal in the Point Tupper Industrial Park in Cape Breton, Nova Scotia, has started. The terminal is expected to be completed in 2007 and will...

Nuke plants renewed.(Late news)
November 1, 2004... Nuke plants renewed: The Nuclear Regulatory Commission has renewed the operating licenses of the Dresden Nuclear Power Station, Units 2 and 3, and the Quad Cities Nuclear Power Station, Units 1 and 2, in Illinois for an additional 20 years. The...

Drive to reduce US oil and gas use gets push from record prices.
November 1, 2004... Record high oil prices are leading to a chorus of calls for the US to move away from oil and natural gas use, with the latest coming from the Sustainable Energy Coalition (SEC), which is pushing for federal, state and local policies to reduce...

Intrastate weekly spot prices.
November 1, 2004... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 10/26-11/1 Avg. Avg. Nov. Price Daily Daily Bid Point $/MMBtu Chg. High...

Confounded by weather, Canadian production could slip this winter.
November 1, 2004... Wet weather in Alberta that pushed drilling activity down over the summer could prevent much of the predicted increase in total Canadian gas output in 2004, according to a report from investment bank UBS analysts Brian Dutton and Jason Frew....

Prices and differentials for major hubs and selected city gates.
November 1, 2004... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES November 1, 2004 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 10/25 10/26 10/27 10/28 10/29 HH-NY ...

IEA study: power generation may double natural gas use by 2030.
November 1, 2004... The use of natural gas is projected to double by 2030, driven by the fact it will be the fuel of choice for electric power generation, according to the International Energy Agency (IEA), which issued its latest energy projections last week as...

Seasonal shift in worldwide LNG trade goosed by netbacks to US.
November 1, 2004... After the recent flurry of activity in the Pacific Basin, the liquefied natural gas spot market seems set for its seasonal shift toward the Atlantic and Mediterranean. Soaring prices for the benchmark US Henry Hub futures contract raised...

Composite spot wellhead price.
November 1, 2004... COMPOSITE SPOT WELLHEAD PRICE January 2000 to Present ($/MMBtu) Year Jan. Feb. March April May June July August Sept. Oct. 2004 5.90 4.79 5.28 5.62 6.17 6.11 5.82 5.37 4.84 5.97 2003 5.15 6.91 7.14...

Composite spot delivered-to-pipeline price.
November 1, 2004... COMPOSITE SPOT DELIVERED-TO-PIPELINE PRICE January 2000 to Present ($/MMBtu) Year Jan. Feb. March April May June July August Sept. Oct. 2004 6.30 4.82 5.32 5.65 6.20 6.12 5.86 5.43 4.93 5.97 2003 5.40...

Industry needs to look abroad to solve engineer shortage.
November 1, 2004... The ranks of engineers are thinning more rapidly than they are being replaced, which has the energy industry shifting gears as it looks for the technical staff needed to find oil and natural gas. In 2003 in the US, about 900 students...

Backed by tests, Shell says GTL fuels are clean, cost-efficient.
November 1, 2004... Results of a year-long test of natural gas-to-liquids (GTL) diesel in California proved what Royal Dutch/Shell's GTL group has maintained since developing the Shell Middle Distillates Synthesis process more than a decade ago: GTL fuels are the...

Natural gas futures.
November 1, 2004... NATURAL GAS FUTURES Trading Dates: October 25--October 29, 2004 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last...

Ivan's wrath reflected in mixed third-quarter earnings reports.
November 1, 2004... Third-quarter earnings were mixed, with some companies still feeling the effects of Hurricane Ivan's march across the Gulf of Mexico's producing zones in mid-September. Offshore driller Ensco International said it earned $25.8 million (17...

North American weekly gas storage.
November 1, 2004... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Oct. 22 Oct. 15 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1894 ...

Natural gas bidweek prices.
November 1, 2004... NATURAL GAS BIDWEEK PRICES Flow Dates: 11/1-11/30 Nov. Chg. Prev. Price Avg. from Bid Point $/MMBtu Prev....

Citygate prices.
November 1, 2004... CITYGATE PRICES Nov. Chg. Prev. Price Avg. from Bid Point $/MMBtu Prev. High Low Vol. Deals Week ...

NGW's monthly weighted averages.
November 1, 2004... NGW'S MONTHLY WEIGHTED AVERAGES $/MMBtu Price Point Oct.'04 Sep.'04 Aug.'04 Jul.'04 Jun.'04 Gulf Coast ANR SE 6.08 4.80 5.37 5.82 6.19 Col. Gulf--Erath 6.07 5.00 5.40...

IGCC projects get green light, revving up.(CURRENT)
November 1, 2004... Coal-to-gas developments continue to pick up steam as federal funds help fuel new projects, utilities pursue projects, and vendors look to offer commercialized technology. Last week the Department of Energy awarded ConocoPhillips and...

Retiring California plants creates risk.(CURRENT)
November 1, 2004... California may see supply shortages in 2008 if 9,000 MW of aging power capacity is retired, according to the California Energy Commission's (CEC) 2004 updated policy report. The 2004 report focuses on reliability issues--aging power plants,...

Ocean pilot projects planned for harnessing domestic wave power.(CURRENT)
November 1, 2004... The Electric Innovation Institute (E2I), a wholly owned subsidiary of the Electric Power Research Institute (EPRI), has been working with federal, state and city agencies to support the development of wave energy in the US. E2I is a...

WPS to begin building clean-coal plant.(CURRENT)
November 1, 2004... WPS Resources plans to start construction on a new clean-coal plant by year-end now that its subsidiary Wisconsin Public Service (WPS) received all the necessary regulatory and environmental permits. The 500-MW Weston 4 unit will be added...

FERC approves $281M Dynegy settlement.(CURRENT)
November 1, 2004... The Federal Energy Regulatory Commission has accepted a $281.5 million structured settlement stemming from claims of price manipulation by a Dynegy company during California's 2000-01 energy crisis. West Coast Energy, Dynegy's 50-50 joint...

Spot electricity trading.(CURRENT)
November 1, 2004... SPOT ELECTRICITY TRADING Trading Dates: October 25-October 29, 2004 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Comparative fuel prices.(CURRENT)
November 1, 2004... COMPARATIVE FUEL PRICES (Cash Market) November 1, 2004 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $59.00/ton $7.68/MMBtu $2.46/MMBtu EAST...

Dredging of Port Fourchon, La., expected to help Ivan recovery.(Regional Market Roundup)
November 1, 2004... Dredging operations are expected to begin soon in a major Louisiana ship channel critical to the offshore oil and gas industry that was buried under shifting sand from Hurricane Ivan. The US Army Corps of Engineers Tuesday awarded a $2.3...

Baker Hughes rig count.(Regional Market Roundup)
November 1, 2004... BAKER HUGHES RIG COUNT Week Ended Oct. 29 Rotary Rigs Current Previous Year Week Week Ago Total US 1,251 1,250 1,107 Land ...

Gas price trends.(Regional Market Roundup)
November 1, 2004... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO TEXAS Gulf Coast Gulf Coast South...

Irving positions New Brunswick to be natural gas supply hub.(Canadian Markets)
November 1, 2004... While energy companies in the US battle it out with regional and municipal governments over where to site proposed liquefied natural gas terminals, New Brunswick, Canada-based Irving Oil, a privately held regional financial powerhouse, is...

Gas reserves may be abundant offshore Western Mexico, Chile.(World Roundup)
November 1, 2004... Two significant reserves of natural gas may have been discovered off the coasts of Mexico and Chile, according to separate reports. Mexican scientists have detected what could be a large underground deposit of methane gas in the Gulf of...

Canadian price report.(World Roundup)
November 1, 2004... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA ALBERTA Huntingdon/ Kingsgate/ Total Sumas...

Driller readies to test play potential of Arkoma gas shales.
November 1, 2004... An upstart driller is ready to explore an unconventional shale gas play in the Arkoma Basin that, the company hopes, may one day rival the booming Barnett Shale trend in North Texas. Southwestern Energy Co. said last week the Arkansas Oil...

Gas price report.
November 1, 2004... GAS PRICE REPORT ($/MMBtu--Spot) November 1, 2004 Interstate Intrastate Delivered Delivered Wellhead Wellhead To Pipeline To Utility Bid ...

Natural gas weekly spot prices.
November 8, 2004... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 11/2-11/8 Avg. Avg. Nov. Price Daily Daily Bid Point $/MMBtu Chg....

Wilderness Society, BLM at odds over Roan Plateau gas reserves.
November 8, 2004... The Bureau of Land Management's estimates for the Roan Plateau in Colorado have come under fire from environmentalists for being "exaggerated" and inaccurate. In fact, in a review of the projections made by the BLM, the Wilderness Society...

Despite sluggish 3Q results, Talisman seeing production soar.
November 8, 2004... Canada's Talisman Energy announced what it called a "significant and exciting" natural gas discovery last week at its Monkman holdings in northeastern British Columbia, saying an exploration well tested at 40 MMcf/day, but was capable of...

Record high storage levels no balm for soaring gas prices.
November 8, 2004... It's official--US natural gas storage inventories have built to the highest level in recent memory, and it doesn't seem to matter, given persistently high price levels even after a late-week price dive. Despite bearish fundamentals behind...

Pipeline capacity utilization.
November 8, 2004... PIPELINE CAPACITY UTILIZATION Pipeline Point Name Capacity Oct-04 Sep-04 Aug-04 Colorado Interstate Gas Cheyenne 590,000 73% 72% 70% Columbia Gas Transmission ...

Devon fleshes out divestment program.
November 8, 2004... Devon Energy has provided further details of its plans to raise up to $1.5 billion through sales of North American assets, saying half of the properties are located in the Gulf of Mexico, with the balance evenly split between the US onshore and...

Bush victory, republican gains bode well for energy business.
November 8, 2004... President Bush's second-term victory last week, sweetened by a stronger Republican Congress, will likely ensure a seamless continuation of current energy, environment and national security policies, according to industry sources and analysts....

Ship hits platform.(Late news)
November 8, 2004... Ship hits platform: EOG Resources said no natural gas was shut in Friday after a freighter rammed an offshore natural gas platform in the Gulf of Mexico. The Coast Guard said the incident, which happened about 17 miles offshore Galveston,...

Lease sale planned.(Late news)
November 8, 2004... Lease sale planned: The federal Minerals Management Service said the next oil and natural gas lease sale for the Eastern and Central Gulf of Mexico would be held Mar. 16, 2005. The proposed lease sale area in the Eastern Gulf is made up of 124...

Property acquired.(Late news)
November 8, 2004... Property acquired: Calgary-based Galleon Energy will buy oil and natural gas properties near Dawson, Alberta, near one of the company's core areas in the Peace River Arch region in a deal worth $38.7 million. Company officials said the deal...

Williams expands Piceance basin operations, increasing output.
November 8, 2004... Williams Cos. has recently started drilling in two new areas of Western Colorado's Piceance Basin, a region that has already been driving an impressive rebound in the Tulsabased company's gas production. In its most recent move, Williams...

Intrastate weekly spot prices.
November 8, 2004... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 11/2-11/8 Avg. Avg. Nov. Price Daily Daily Bid Point $/MMBtu Chg. High...

Interest growing in mining gas hydrates; Chilean find cited.
November 8, 2004... An underwater discovery off the coast of Chile has led to speculation about mining and harvesting gas hydrates for commercial use and the development of a new energy resource. An expedition conducted by the Catholic University of Valparaiso...

Prices and differentials for major hubs and selected city gates.
November 8, 2004... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES November 8, 2004 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 11/1 11/2 11/3 11/4 11/5 HH-NY ...

Earnings remain mixed bag for companies in '04 third quarter.
November 8, 2004... Canada's Petro-Canada reported a strong showing with its third-quarter earnings report last week. Also posting a quarterly gain was Oklahoma City, Oklahoma-based Devon Energy. Overall, though, it was a week of mixed results for Canadian and US...

North American weekly gas storage.
November 8, 2004... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Oct. 29 Oct. 22 Weekly Year Region Week Week Change Ago US East 1921 1894 27 1871 West ...

Natural gas futures.
November 8, 2004... NATURAL GAS FUTURES Trading Dates: November 1-November 5,2004 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume...

Tax credit may be boon to biomass development.(CURRENT)
November 8, 2004... The expanded renewable production tax credit could beef up the amount of biomass used for diesel, as well as power applications in the US. Even without the credit--which now also applies to solar, geothermal and some small hydropower...

High oil, gas coast spurs biomass power.(CURRENT)
November 8, 2004... Biomass energy sources will grow because of environmental drivers and higher energy prices, according to a recent report, and at least in the US, from an expanded renewable energy tax credit for some forms of biomass. Biomass resources...

Texas utility seeks retail rate hike citing soaring gas prices.(CURRENT)
November 8, 2004... The rising market price of natural gas has led retail electric providers in Texas to seek rate increases, a trend most recently seen with Reliant Energy. Reliant filed a request last week with the Public Utilities Commission of Texas...

Dynegy acquires northeast power plants.(CURRENT)
November 8, 2004... Dynegy plans to pay $135 million in cash and assume $919 million in debt to purchase several power plants from Exelon. Dynegy will also acquire a firm contract through 2014 to supply a Consolidated Edison subsidiary with power, which will...

Fluor to finish former Duke power plant.(CURRENT)
November 8, 2004... Regulated utility Nevada Power has hired Fluor for an undisclosed amount to finish building what was formerly Duke's Moapa merchant plant. Nevada Power had estimated total costs to acquire and complete the facility were $558 million (NGW...

Spot electricity trading.(CURRENT)
November 8, 2004... SPOT ELECTRICITY TRADING Trading Dates: November 1-November 5, 2004 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Comparative fuel prices.(CURRENT)
November 8, 2004... COMPARATIVE FUEL PRICES (Cash Market) November 8, 2004 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $60.00/ton $7.21/MMBtu $2.50/MMBtu EAST...

MMS finances study on currents impacting Gulf infrastructure.(Regional Market Roundup)
November 8, 2004... The federal Minerals Management Service will spend more than $15 million in the Gulf of Mexico as part of a major research project. Among the items to be studied are the interaction of wind and water and the effect of that interaction on ocean...

Baker Hughes rig count.(Regional Market Roundup)
November 8, 2004... BAKER HUGHES RIG COUNT Week Ended Nov. 5 Rotary Rigs Current Previous Year Week Week Ago Total US 1,268 1,251 1,114 Land ...

Gas price trends.(Regional Market Roundup)
November 8, 2004... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO TEXAS South North Gulf Coast Gulf Coast ...

Canada to see record drilling as CBM production kicks in.(Canadian Markets)
November 8, 2004... Canada is heading to an all-time record number of wells drilled next year, boosted by a sharp uptick in coalbed methane (CBM) activity, according to the 2005 Canadian Drilling Activity Forecast, released recently by the Petroleum Services...

Mitsui buys Mexican LNG stake.(World Roundup)
November 8, 2004... Mitsui has snapped up a 25% stake in Royal Dutch/Shell's Altamira liquefied natural gas terminal in Mexico, as the Japanese company continues to pursue investment opportunities in energy-related infrastructure. The deal is subject to the...

Chinese LNG demand to grow significantly.(World Roundup)
November 8, 2004... China's growing gas demand looks likely to create a seller's market, given the estimates of the significant growth of its Asian counterparts. China will have to compete for supplies come 2006 when the first LNG terminal in Guangdong starts up...

Canadian price report.(World Roundup)
November 8, 2004... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA ALBERTA Huntingdon/ Kingsgate/ Total Sumas...

Driller has New York state of mind after major gas discovery.
November 8, 2004... Huge wildcat strikes weren't uncommon a decade ago in the US natural gas industry, before the reality of grinding decline curves in maturing traditional fields capped drilling output. But Talisman Energy is demonstrating that major strikes can...

Gas price report.
November 8, 2004... GAS PRICE REPORT ($/MMBtu--Spot) November 8, 2004 Interstate Intrastate Delivered Delivered Wellhead Wellhead To Pipeline To Utility Bid ...

Natural gas weekly spot prices.
November 15, 2004... NATURAL GAS WEEKLY SPOT PRICES Flow Dates:11/9-11/15 Avg. Avg. Nov. Price Daily Daily Bid Point $/MMBtu Chg....

Historic Rosebud Co. vote could slow Montana CBM development.
November 15, 2004... On Nov. 2, voters in Rosebud County did something historic. They overwhelmingly approved a referendum on a proposed land use ordinance addressing the concerns of coal bed methane (CBM) development and disposal of the enormous amounts of water...

Burgeoning natural gas storage, bearish forecasts, sink prices.
November 15, 2004... The elephant sitting in the middle of the natural gas markets--record-high and still-rising storage inventories entering the heating season--has grown too big for traders to ignore. [GRAPHIC OMITTED] Cash and futures prices tumbled...

Natural gas futures.
November 15, 2004... NATURAL GAS FUTURES Trading Dates: November 8--November 12, 2004 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last...

Alaska gas line sponsors differ on Canadian regulatory treatment.
November 15, 2004... Sponsors of the proposed Alaska Natural Gas Transmission System need to overcome several critical obstacles in the near future if the planned project is to be in service before the middle of the next decade. One is the commercial...

Ivan's impact still a mystery, but gives engineers lessons to study.
November 15, 2004... Exactly what happened at the height of Hurricane Ivan's march across the Gulf of Mexico may never be known. What is known, according to James F. Davis of Houston-based Paragon Engineering Services, "is that a lot of engineers are going to...

Different kind of robot set to survey for Gulf of Mexico pipes.
November 15, 2004... This week, a very different kind of worker will enter the Gulf of Mexico to begin deepwater work. The worker is an autonomous undersea vehicle (AUV) owned and operated by C & C Technologies of Lafayette, Louisiana. The AUV is different...

FERC issues statement.(Late news)
November 15, 2004... FERC issues statement: Officials with Houston-based Cheniere Energy said the Federal Energy Regulatory Commission has issued a favorable Final Environmental Impact Statement for the Sabine Pass liquefied natural gas project and Cheniere Sabine...

Rigs added to fleet.(Late news)
November 15, 2004... Rigs added to fleet: San Antonio-based Pioneer Drilling has added seven drilling rigs to its fleet after buying them and other support equipment from Kenmare, North Dakota-based Wolverine Drilling in a $28 million deal. The sale will boost...

Plants mothballed.(Late news)
November 15, 2004... Plants mothballed: Officials with TXU Power, a subsidiary of the TXU Corp., said last week they plan to mothball eight natural gas-fired electric generation units in Texas. The units represent 2,516 MWs, or about 25% of TXU Power's natural...