Natural Gas Week articles from November 2006

Natural Gas Week archives from November 2006

Natural gas weekly spot prices.
November 6, 2006... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 10/31-11/6 Price Point $/MMBtu Chg. High Low GULF COAST ANR SE 7.12 -0.24 7.53 6.58 Col. Gulf - Erath ...

BP plans fiber optic network; precursor to intelligent fields.
November 6, 2006... BP America is embarking on an ambitious plan to build an 800-mile fiber optic network in the Gulf of Mexico, a development seen as a major step in moving the idea of the intelligent oilfield from theoretical design to reality. The system...

Upstream companies facing brunt of growing workforce shortages.
November 6, 2006... The lack of workers in the energy industry is on the verge of becoming even more acute with the upstream side of the industry about to feel the largest impact, according to a new study on manpower, or talent, shortages facing the energy...

Traders puzzle as market bulls ignore slew of bearish signals.
November 6, 2006... Bearish fundamentals continue to abound for the natural gas market, yet December gas futures prices still managed to press higher late last week following a three-day sell-off. Though some traders see the potential for prices to rally more as...

Judge halts big thicket park drilling; orders second look.
November 6, 2006... Environmentalists claimed another victory after a federal court judge ruled that more intensive environmental analysis needed to be done in regard to oil and gas activity near a national park. Judge John D. Bates handed down the decision...

Slowdown forecast.(Late news ...)
November 6, 2006... Slowdown forecast: The Petroleum Services Association of Canada has forecast the first slowdown in drilling in the Canadian energy industry with its new 2007 Canadian Drilling Activity Forecast. In 2007, PSAC expects a total of 21,500 wells...

Rig demand strong.(Late news ...)
November 6, 2006... Rig demand strong: Transocean Chief Executive Bob Long is reported saying that the market for offshore drilling rigs is "going to be particularly strong past... 2011." Long added that deepwater exploration projects around the world should soak...

Production restored.(Late news ...)
November 6, 2006... Production restored: Some production has been rested at the West Cote Blanche field in southern Louisiana, according to Gulfport Energy. The field was shut-in earlier this month as a precautionary measure after a tugboat pushing two barges...

El Paso to auction ANR Pipeline; forced by recovery 'speed bumps'.
November 6, 2006... Reports that El Paso has put ANR Pipeline, one of its prime pipeline assets, on the sales block, begs the question of whether the company's post-Enron turnaround effort has run into problems. Industry and Wall Street sources confirmed to...

Intrastate weekly spot prices.
November 6, 2006... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 10/31-11/6 Price Point $/MMBtu Chg. High Low Louisiana Intras -- -- -- -- Oklahoma Intras -- -- -- -- South Texas...

Dominion E&P Assets on block; auction may fetch $20 billion.
November 6, 2006... Dominion has decided to drastically downsize its exploration and production operations after failing to convince investors of the value of its North American upstream assets. The Richmond, Virginia-based company, which has made a name for...

Alaska gubernatorial contest a toss-up; gas line key to race.
November 6, 2006... The race to be the next governor of Alaska looks like a squeaker, and with it may be decided the fate of the proposed Alaska gas pipeline. Republican Sarah Palin and Democrat Tony Knowles are neck-and-neck going into election day. Who...

Energy not playing prominantly, but election will chart course.
November 6, 2006... A bruising battle is on for control of Congress in Tuesday's midterm elections, with Republicans struggling to fend off surging Democrats who are promising a new direction and an end to US foreign oil dependence. Democrats have to capture...

Composite spot wellhead price.
November 6, 2006... COMPOSITE SPOT WELLHEAD PRICE January 2002 to Present ($/MMBtu) Year Jan. Feb. Mar. Apr. May Jun. Jul. 2006 8.20 7.30 6.47 6.61 5.93 6.04 5.93 2005 6.05 5.99 6.77 6.99 6.26 6.91 7.50...

Arctic gas, oil real potential will fall short of expectations.
November 6, 2006... The US cannot look to the Arctic regions as the solution to energy independence as the volumes of oil and gas now locked beneath the icy waters and frozen tundra across the far northern latitudes still don't match what exists in the Mideast in...

Natural gas futures.
November 6, 2006... NATURAL GAS FUTURES Trading Dates: October 30-November 3, 2006 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Last Volume Last Volume...

Survey: manufacturers see high gas prices as key growth barrier.
November 6, 2006... Faced with high energy prices and a lack of demand, optimism among US manufacturers took a tumble in the third quarter, according to a survey released last week by PricewaterhouseCoopers. Those higher prices, said many of those surveyed, will...

North American weekly gas storage.
November 6, 2006... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Oct. 27 Oct. 20 Weekly Year Region Week Week Change Ago US East 1976 1,990 -14 ...

Natural gas bidweek prices.
November 6, 2006... NATURAL GAS BIDWEEK PRICES Flow Dates: 11/1-11/30 November Chg. Price Avg. from Point $/MMBtu Prev. High Low GULF COAST ANR...

Future siting near supply could prove boon to industrial users.
November 6, 2006... The natural gas industry has faced issues surrounding stranded supplies since operators drilled the first oil wells and pondered the disposal of associated gas. In the early days, flares disposed of the gas that had no market, but as...

US Air Force testing synthetic fuels for ground vehicle use.
November 6, 2006... A Sep. 19 test flight by a B-52 using a synthetic fuel made from natural gas has Air Force researchers flying high and aiming a little lower now as they look at alternative fuels for their ground vehicles. A spokesman for the service said...

NGW's monthly weighted averages.
November 6, 2006... $/MMBtu NGW'S MONTHLY WEIGHTED AVERAGES Price Point Oct-06 Sep-06 Aug-06 Jul-06 Jun-06 Gulf Coast ANR SE 6.19 4.65 7.25 5.85 6.19 Col. Gulf - Erath 5.46 ...

Investment banks becoming top dogs in power.(Current)
November 6, 2006... Back in the early days of deregulation, power marketers flipped generation assets with heady abandon. But a new trend developed in the apocalyptic wake of the California energy crisis and Enron bankruptcy: It seems banks are the ones with the...

Waste management reaping landfill gas.(Current)
November 6, 2006... Turning garbage into a renewable source of energy isn't exactly new, but it's starting to catch on in a big way among landfill operators who are inspired by the recent push to cut back fossil fuel consumption. The largest landfill operator...

Washington state voters poised to push hydro from renewable mix.(Current)
November 6, 2006... Common sense to the contrary, it appears that voters in Washington State will decide Tuesday that hydro power is not a renewable energy source. Tell that to the power system operators, energy traders and the agricultural industry, who are...

Huge Oakland solar project completed.(Current)
November 6, 2006... Chevron Energy Solutions, a subsidiary of Chevron, has completed the largest solar power and energy efficiency project for the US Postal Service at its mail center in Northern California. The project at the Oakland Processing and...

Spot electricity trading.(Current)
November 6, 2006... SPOT ELECTRICITY TRADING Trading Dates: October 30-November 3, 2006 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year ...

Cogeneration urged for cement plants.(Current)
November 6, 2006... The World Alliance for Decentralized Energy (Wade), a Scottish international non-profit, has released two recent reports regarding cogeneration projects and unrealized cost potentials for the cement industry. The Clean Development through...

Comparative fuel prices.(Current)
November 6, 2006... COMPARATIVE FUEL PRICES (Cash Market) November 6, 2006 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $43.75/ton $7.55/MMBtu ...

Energy projects center stage in Massachussets governor's race.(Regional Market Roundup)
November 6, 2006... Energy projects across the nation have become politically charged, but few have drawn fire like the proposed Weaver's Cove LNG terminal in Fall River. But even the state's premier wind energy proposal isn't unscathed in this political season....

NiSource, a division of Columbia Gulf Transmission, shut-in a number of production platforms in the gulf last week following the discovery of a leak in a natural gas undersea pipeline.(Gulf of Mexico)
November 6, 2006... NiSource, a division of Columbia Gulf Transmission, shut-in a number of production platforms in the Gulf last week following the discovery of a leak in a natural gas undersea pipeline. The leak, reportedly shutting in 15 million cubic feet per...

Anadarko Petroleum has completed the previously announced sale of its subsidiary Anadarko Canada to Canadian Natural Resources.(Gulf of Mexico)
November 6, 2006... Anadarko Petroleum has completed the previously announced sale of its subsidiary Anadarko Canada to Canadian Natural Resources. In addition, Anadarko has agreed to divest its remaining Canadian Arctic frontier interests through a separate...

Gov. Kathleen Blanco signed a memorandum of construction with Sinotec last week for the Chinese company to build a synthethic fuel plant that will be located in Ascension Parish and be fueled by lignite coal from North Louisiana.(Louisiana)
November 6, 2006... Gov. Kathleen Blanco signed a memorandum of construction with Sinotec last week for the Chinese company to build a synthethic fuel plant that will be located in Ascension Parish and be fueled by lignite coal from North Louisiana....

Duke Energy announced last week that its existing natural gas business will be called Spectra Energy when the operation becomes a stand-alone, publicly traded company, targeted for Jan. 1, 2007.(Texas)
November 6, 2006... Duke Energy announced last week that its existing natural gas business will be called Spectra Energy when the operation becomes a stand-alone, publicly traded company, targeted for Jan. 1, 2007. Once the separation is complete, Spectra...

Baker Hughes rig count.(Regional Market Roundup)
November 6, 2006... BAKER HUGHES RIG COUNT Week Ended Nov. 3 Rotary Rigs Current Previous Year Week Week Ago Total US 1,739 1,744 1,496 ...

Alaska lawmakers have asked a state superior court judge to issue an injunction to prevent Republican Gov. Frank Murkowski from executing a contract for a $25 billion natural gas pipeline project over the Legislature's objection.(Alaska)
November 6, 2006... Alaska lawmakers have asked a state superior court judge to issue an injunction to prevent Republican Gov. Frank Murkowski from executing a contract for a $25 billion natural gas pipeline project over the Legislature's objection. The lawsuit...

Royal Dutch Shell is moving forward with plans to explore for oil and gas in the shallow coastal waters of the Beaufort Sea, where Shell holds 84 offshore leases.(Alaska)
November 6, 2006... Royal Dutch Shell is moving forward with plans to explore for oil and gas in the shallow coastal waters of the Beaufort Sea, where Shell holds 84 offshore leases. Four exploration wells are planned along Alaska's northern arctic coast for...

Property bought.(Also noted)
November 6, 2006... Property bought: St. Mary Land & Exploration has said it will buy oil and gas assets in West Texas from several private parties for $250 million in cash. The properties are in the Midland Basin and target the producing formations in the...

New duties.(Also noted)
November 6, 2006... New duties: Noble has appointed President and Chief Operating Officer Mark A. Jackson to the additional role of chief executive to succeed James C. Day who has announced plans to retire. Day will remain in his current position until April 2007....

Gas price trends.(Regional Market Roundup)
November 6, 2006... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO South North Nov 6, 2006 Inter (well) ...

Mammoth Edson gas facility seen impacting Canadian, US markets.(Canadian Markets)
November 6, 2006... A natural gas storage facility TransCanada has been quietly developing for the past couple of years is poised to become one of the largest natural gas storage providers in Western Canada. Some traders speculate that the imminent launch of this...

Taxing trusts.(Canadian Markets)
November 6, 2006... Taxing trusts: Canadian Financial Minister Jim Flaherty stunned corporate Canada last week by announcing that he would tax trusts to halt a flood of conversions and protect government revenues. Energy unit trusts now pay large portions of...

Cutting E&P.(Canadian Markets)
November 6, 2006... Cutting E&P: Several large independent producers have announced plans to cut back on their Canadian gas drilling, citing high service costs which have eroded their profit margins. Canadian Natural Resources slashed its capital spending for...

Rig count.(Canadian Markets)
November 6, 2006... Rig Count: There were 415 rigs drilling for natural gas and oil in Western Canada as of Oct. 31, 33 more than the week before, according to the Canadian Association of Oilwell Drilling Contractors (CAODC). During the same period a year ago,...

Working gas.(Canadian Markets)
November 6, 2006... Working gas in all Canadian storage facilities fell to 95.0% of capacity as of Oct. 27, with a 5.9 Bcf decrease from the week before, according to the most recent Canadian Enerdata gas storage survey. A total of 454.3 Bcf of gas was in...

The composite spot import price.(Canadian Markets)
November 6, 2006... The composite spot import price this week is US$6.95/MMBtu for gas leaving Canada and entering the US through six border crossing points. Natural Gas Week's Nov. 7, 2005, average for Canadian exports was US$8.26/MMBtu. Canada's average...

Exxon, Gazprom talk Turkey about natgas pipeline supplying China.(World Roundup)
November 6, 2006... Exxon Mobil and China National Petroleum Corp. signed a heads of agreement to deliver 775 million cubic feet per day of natural gas from the Sakhalin-1 project into northeastern China. However, a final deal is not expected for at least another...

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

Chilly fall ushers in winter, but El Nino still holding key.
November 6, 2006... It's still debatable whether the November Henry Hub cash average will equal its $7.16/MMBtu bidweek price, which until late last week seemed about as remote as the Hub's chances were of not outpacing its October bidweek average of $4.21. ...

Gas price report.
November 6, 2006... GAS PRICE REPORT ($/MMBtu--Spot) Interstate Intrastate Wellhead Wellhead Bid Bid ...

The Natural Gas Week composite spot wellhead price this week is $6.83/MMBtu, 35 cents less than last week and $1.93 less than the Nov. 7, 2005, average.
November 6, 2006... The Natural Gas Week composite spot wellhead price this week is $6.83/MMBtu, 35 cents less than last week and $1.93 less than the Nov. 7, 2005, average. The spot delivered-to-pipeline price this week is $7.05/MMBtu, 31 cents less than last week...

Natural gas weekly spot prices.
November 13, 2006... NATURAL GAS WEEKLY SPOT PRICES Flow Dates:11/7-11/13 Price Point $/MMBtu Chg. High Low GULF COAST ANR SE 7.04 -0.08 7.61 6.44 Col. Gulf - Erath 7.07 ...

Writing's on the wall: market bulls mounting assault in 2007.
November 13, 2006... Even though natural gas futures prices will see continued volatility in coming weeks--and warm days ahead should press prices lower--indicators and the influx of new hedge fund money suggests that speculative dollars will begin pouring back...

Change in Congress could send OCS drilling debate into 2007.
November 13, 2006... With Democrats poised to take control in January, pressure is increasing on Congress to enact legislation to expand offshore drilling access for oil companies before the end of the year. But a House of Representatives GOP source is skeptical of...

Bearish warm-weather forecasts may rain on bulls' Natgas parade.
November 13, 2006... In spite of overwhelmingly bearish fundamentals, gas traders reported that a couple of hedge funds managed to underpin the Nymex December gas futures contract last week. However, if weather patterns continue to produce lackluster demand and...

Alaska governor-elect inherits stalled Natgas pipeline project.
November 13, 2006... A former small-town mayor and self-described "hockey mom" will, as Alaska's next governor, take over the stalled negotiations for a $25 billion natural gas pipeline project with the state's three biggest oil producers. Republican Sarah...

Plans submitted.(Late news ...)
November 13, 2006... Plans submitted: Plans for the restart of the Deep Panuke natural gas project are now available for public comment. EnCana submitted its plans for restarting the project to the Canada-Nova Scotia Offshore Petroleum Board and the National Energy...

Assets sale.(Late news ...)
November 13, 2006... Assets sale: Entergy Chief Executive J. Wayne Leonard said the company may sell its operations in Arkansas and Texas, as well as its nuclear division. Leonard made the comments at a Las Vegas trade show. Entergy had earlier this year announced...

Interests acquired.(Late news ...)
November 13, 2006... Interests acquired: Pride International has acquired its partner's interest in the joint venture companies that own the two deepwater semi-submersibles Pride Rio de Janeiro and Pride Portland in a deal worth about $215 million. Houston-based...

Green Democrats to hold key energy posts in new Congress.
November 13, 2006... With both the House and Senate in their control, the Democrats are already giving some indication of how they will view the energy industry, as several pro-environmental Democrats are set to take over key committees in the Senate, bolstering...

Intrastate weekly spot prices.
November 13, 2006... INTRASTATE WEEKLY SPOT PRICES Flow Dates:11/7-11/13 Price Point $/MMBtu Chg. High Low Louisiana Intras -- -- -- -- Oklahoma Intras 5.88 -- 6.70 5.10 South Texas...

Latest EIA short-term outlook adjusts winter gas price higher.
November 13, 2006... The Energy Information Administration's latest Short-Term Energy Outlook held only slight modifications for heating costs this winter. According to the agency, natural gas prices will continue to be moderated by the high levels in storage....

Hybrid fuel cell captures energy lost in Natgas pipeline systems.
November 13, 2006... A new technology that recovers energy from natural gas pipeline operations was unveiled last week by FuelCell Energy and Enbridge. Officials with the two companies announced the development and production of a multi-megawatt hybrid fuel...

North American weekly gas storage.
November 13, 2006... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Nov. 3 Oct. 27 Weekly Year Region Week Week Change Ago US East 1966 ...

Alaska big oil firms challenge FERC order to expand pipeline.
November 13, 2006... Alaska's three biggest oil producers are challenging the right of federal regulators to order expansion of a proposed natural gas pipeline to ensure access to future explorers. The oil companies--Exxon Mobil, BP and ConocoPhillips --have...

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

Chevron takes the lead as energy firms file third-quarter reports.
November 13, 2006... Supermajor Chevron led the race as energy and seervice companies continued to release their third-quarter financial reports. The company reported a net profit of $5 billion ($2.29/share), up 15% from the second quarter and 40% higher than the...

Pipeline capacity utilization.
November 13, 2006... PIPELINE CAPACITY UTILIZATION Location FlowDate Flow Transco Zone 6 NY 11/9/06 1,290,856 Niagara 11/9/06 621,826 FGT Mkt Area Del. 11/9/06 ...

Mega-rich see electric utilities as a strong 'buy'.(Current)
November 13, 2006... "The very rich are different from you and me," as F. Scott Fitzgerald once wrote. And when it comes to energy, the mega-rich are able to put aside concerns such as the explosion of retail rates, fuel competition, regulatory hurdles and...

Record rains dampen more than spirits.(Current)
November 13, 2006... Riding the Pacific subtropical jetstream, a "Pineapple Express" dumped record-breaking rainfall the Pacific Northwest last week, causing power prices to plummet but not leaving much of a legacy for future hydrogeneration. "It's sort of...

Spanish utility makes takeover bid for PPM Energy's parent firm.(Current)
November 13, 2006... In the latest round of courting for UK-based ScottishPower, the company last week received a takeover bid from Spain's second-biggest power utility, Iberdrola. Financial Times reported that a private equity fund allegedly teamed up with...

DOE to spend $450m on C[O.sub.2] storage study.(Current)
November 13, 2006... The Department of Energy is devoting $450 million over the next 10 years for seven tests to advance carbon sequestration technologies. The studies are designed to validate whether the large scale capture, transportation, injection and...

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

Got transmission feedback? Tell the DOE.(Current)
November 13, 2006... The Department of Energy has extended the public comment period on its "National Interest Electric Transmission Corridors," created under the 2005 Energy Policy Act. Comments initially were due Aug. 25, but the DOE announced late last week it...

Comparative fuel prices.(Current)
November 13, 2006... COMPARATIVE FUEL PRICES (Cash Market) November 13, 2006 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $41.75/ton $7.57/MMBtu $1.74/MMBtu ...

El Paso expands, restructures natgas hedge program for 2007.(Regional Market Roundup)
November 13, 2006... El Paso has restructured and expanded its hedge program that supports the Houston-based company's natural gas production for 2007. "Our expanded hedge program provides support on approximately 210 billion cubic feet of 2007 domestic...

During a conference call from a trade mission to the Far East last week, Louisiana Gov. Kathleen Blanco said she is encouraged by the Democrats taking charge of the House leadership after last week's mid-term elections.(Louisiana)
November 13, 2006... During a conference call from a trade mission to the Far East last week, Louisiana Gov. Kathleen Blanco said she is encouraged by the Democrats taking charge of the House leadership after last week's mid-term elections. The governor said...

Houston-based Swift Energy has signed an agreement to purchase $20.4 million of a seller's operated wells and acreage in Lake Washington Field in Plaquemines Parish, Louisiana.(Louisiana)
November 13, 2006... Houston-based Swift Energy has signed an agreement to purchase $20.4 million of a seller's operated wells and acreage in Lake Washington Field in Plaquemines Parish, Louisiana. The acreage is located to the northeast and southeast of Swift's...

Lafayette, Louisiana-based Petsec Energy has announced a second natural gas discovery at its Mobile Bay drilling project off the coast of Alabama.(Alabama)
November 13, 2006... Lafayette, Louisiana-based Petsec Energy has announced a second natural gas discovery at its Mobile Bay drilling project off the coast of Alabama. Petsec said the Mobile Bay 950 No. 1 encountered 34 feet of net gas pay in two sands. The well...

New Frontier Energy has entered into an $8 million purchase and sale agreement with the operator of the Slate Dome Field to acquire working interest in 11 natural gas wells together with its interest in 32,000 acres in the field located in Northwest Colorado and Southwest Wyoming.(Colorado)
November 13, 2006... New Frontier Energy has entered into an $8 million purchase and sale agreement with the operator of the Slate Dome Field to acquire working interest in 11 natural gas wells together with its interest in 32,000 acres in the field located in...

Merger completed.(Also noted)
November 13, 2006... Merger completed: Panda Ethanol and Cirracor have completed their merger, with the new company to be called Panda Ethanol. In connection with the merger, the prior stockholders of Panda Ethanol were issued 28.8 million shares of Cirracor common...

Agreement reached.(Also noted)
November 13, 2006... Agreement reached: Morgan Creek Energy has reached an agreement with Pierco Petroleum of Oklahoma to drill on its Browder Barnett Shale lease in Cooke County, Texas. Under terms of the agreement, Pierco will participate in the lease and...

President named.(Also noted)
November 13, 2006... President named: Clint Anderson has joined Gulf Island Fabrication as the president of Gulf Marine Fabricators, the Houma, Louisiana-based company's South Texas facility. Anderson has over 25 years of marine fabrication and related experience.

Leases acquired.(Also noted)
November 13, 2006... Leases acquired: Northamerican Energy Group has reached an agreement to acquire and assume additional leases in the Permian Basin from a company that works closely with Northamerican on its current lease holdings. The properties contain a...