Natural Gas Week articles from November 2008

Natural Gas Week archives from November 2008

Natural gas weekly spot prices.
November 3, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 10/28-11/3 Price $/MMBtu Chg. High Low Avg. Avg. Nov. Price Daily Daily Bid ...

US recession could ultimately be good for resilient gas market.
November 3, 2008... With economic indicators suggesting a deep US economic recession is at hand, oil and natural gas futures prices have tumbled more than 50% as fears mount over widespread demand destruction. But what effect would a recession have on natural gas...

Alberta's new royalty framework already taking toll on investment.
November 3, 2008... Alberta's new oil and gas royalty framework--set to go into effect in January--is already causing a decline in exploration and production activity in the province, according to a recent report by Tristone Capital. "The economic impact on...

Bearish NatGas rhetoric could spin into bullish winter gains.
November 3, 2008... With natural gas coasting to a respectable refill north of 3,400 billion cubic feet, despite lingering Gulf outages and the threat of demand losses as the economy slows, some research groups and analysts are pulling back on natural gas winter...

Record prices, storms and credit jitters impact quarterly results.
November 3, 2008... The third quarter saw oil and natural gas prices hit record highs then deflate spectacularly as a worldwide credit crisis gripped financial markets, handicapping many small and mid-size exploration and production companies that traditionally...

Gazprom eyes Alaska.(Late news ...)
November 3, 2008... Gazprom eyes Alaska: Alexei Miller, chairman of Russia's Gazprom, said his company has been invited to explore for oil and natural gas in several Alaskan blocks, including some in the Chukchi Sea, according to reports by the Barents Observer...

Fees rising.(Late news ...)
November 3, 2008... Fees rising: The Bureau of Land Management plans to increase the rental fees it charges companies for right-of-way access on federal lands. The revision is intended to bring rates more in line with current land values. Rates were last adjusted...

Indiana drilling.(Late news ...)
November 3, 2008... Indiana drilling: Atlas Energy plans to drill more than 100 horizontal wells in the New Albany Shale of southwestern Indiana. Drilling is set to commence this year and wrap up by the end of 2009. Atlas has acquired some 114,000 net acres in the...

Intrastate weekly spot prices.
November 3, 2008... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 10/28-11/3 Price $/MMBtu Chg. High Low Avg. Avg. Nov. Price Daily Daily Bid ...

Speakers underscore shifting sands for Canadian gas industry.(Conference notes)
November 3, 2008... Like virtually everywhere else, the Canadian gas industry is facing an altered landscape as a result of the current global financial crisis, with large infrastructure projects in Western Canada suddenly looking less viable than they were as...

Prices and differentials for major hubs and selected city gates.
November 3, 2008... [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 10/27 10/28 10/29 10/30 10/31 HH-NY +0.85 +1.29 +1.17 +0.68 +0.61 HH-Chicago +0.30 +0.26 -0.00 -0.27 -0.12 AECO-CHIC -0.20 +1.04...

Study sees US shales adding over 12 Bcf/d of new supply.
November 3, 2008... The top six emerging shale gas plays in the United States could add about 12.2 billion cubic feet per day of natural gas output to the country's supply mix over the next decade, according to a study released earlier this month by investment...

Composite spot wellhead price.
November 3, 2008... COMPOSITE SPOT WELLHEAD PRICE January 2004 to Present ($/MMBtu) Year Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. 2008 7.83 8.30 9.03 9.86 10.47 11.97 10.81 7.83 6.75 5.87 2007 6.25 7.79...

Third-Qtr production mixed for Chesapeake and Apache.
November 3, 2008... US independent exploration and production companies Apache and Chesapeake saw mixed production results during the third quarter, but expect production growth moving forward into 2009. Damage following hurricanes Gustav and Ike in the Gulf...

Natural gas futures.
November 3, 2008... NATURAL GAS FUTURES Trading Dates: October 27-October 31 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last...

Kerkorian raises stake in Delta Petroleum; firm shedding assets.
November 3, 2008... Billionaire investor Kirk Kerkorian plans to raise his stake in Denver-based Delta Petroleum to 48.5% from around 35% at present. Kerkorian's Tracinda Corp. said Friday it will make a cash tender offer to buy an additional 14 million shares...

North American weekly gas storage.
November 3, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Region Oct. Oct. Weekly Year Yr. 5-year 5-year 24 17 Change Ago Ago Average Change Week Week...

Natural gas bidweek prices.
November 3, 2008... NATURAL GAS BIDWEEK PRICES Flow Dates: 11/1-11/30 Price November Chg. High Low Vol. Deals Prev. Point Avg. from Bid- $/MMBtu Prev....

North American LNG terminals could exacerbate capacity glut.
November 3, 2008... Four new LNG receiving terminals plan to start operations in North America next year, but their advent could exacerbate a glut of underutilized capacity in the region. Two of the new terminals--Canaport and Neptune--will be located in the...

Full LNG cycle could emit more CO2 than 'dirtier' coal plants.
November 3, 2008... While natural gas is widely promoted as part of the solution to global warming because gas-fired power plants emit less carbon dioxide (CO2) than coal-fired power plants, a study from Carnegie Mellon University in Pennsylvania suggests that...

NGW's monthly weighted averages.
November 3, 2008... NGW'S MONTHLY WEIGHTED AVERAGES $/MMBtu Price Point Oct-08 Sep-08 Aug-08 Jul-08 Jun-08 May-08 Gulf Coast ANR SE 6.73 7.56 8.24 11.20 12.59 11.21 Col. Gulf - Erath ...

California forms strategies to cut emissions.(CURRENT)
November 3, 2008... Before most states have done much beyond donning green-colored glasses to peer into the future, California state regulators have adopted a final opinion on strategies aimed at reducing greenhouse gas (GHG) emissions and meeting the goals of...

Nerc: transmission, green power still vex.(CURRENT)
November 3, 2008... North America needs to hustle to bolster the transmission grid, according to the recently-released 2008 Long-Term Reliability Assessment. Another crucial issue noted in the report by the North American Electric Reliability Corporation...

Rate hikes OK'd to fund Florida nuke upgrades, reduce demand.(CURRENT)
November 3, 2008... The Florida Public Service Commission (PSC) has approved a plan for ratepayers to underwrite upgrades to nuclear reactors and proposed newbuild in the state. Customers of Florida Power & Light (FPL) and Progress Energy Florida will start...

Spot electricity trading.(CURRENT)
November 3, 2008... SPOT ELECTRICITY TRADING Trading Dates: October 27-October 31, 2008 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) POINT Avg. Price Avg. Price Change Year Month This Last ...

Permits set for Montana-Alberta line.(CURRENT)
November 3, 2008... The 214-mile, 230-kV Montana Alberta Tie Ltd. transmission line has been fully authorized and permitted by authorities in Canada and Montana. It will be the first of its kind between the province and the state, and only the second line linking...

Wind project approved in coal-rich Utah.(CURRENT)
November 3, 2008... Massachusetts developer First Wind has received approval from the US Bureau of Land Management for its 300-MW Milford Wind Corridor project in Milford, Utah. Construction is expected to begin this month.

Comparative fuel prices.(CURRENT)
November 3, 2008... COMPARATIVE FUEL PRICES (Cash Market) November 3, 2008 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $88.50/ton $6.91/MMBtu ...

Legendary Alaska senator found guilty of concealing Veco largess.(Regional Market Roundup)
November 3, 2008... Alaska Republican icon US Sen. Ted Stevens was convicted last week at his federal corruption trial on all seven counts of lying on his personal financial disclosure forms. The jury found Stevens guilty of "knowingly and willfully"...

Baker Hughes rig count.(Regional Market Roundup)
November 3, 2008... [ILLUSTRATION OMITTED] BAKER HUGHES RIG COUNT Week Ended Oct. 31 Rotary Rigs Current Week Previous Week Year Ago Total US 1,971 1,964 1,795 Land ...

Gas price trends.(Regional Market Roundup)
November 3, 2008... GAS PRICE TRENDS ($/MMBtu) CALIFORNIA ROCKY MTNS NEW MEXICO South North Nov 3, 2008 Inter (well) -- -- 2.57 2.77 Intra (well) 3.67 -- ...

Report: B.C. shale output could replace Alberta losses by 2010.(Canadian Markets)
November 3, 2008... British Columbia's Horn River and Montney shale formations may be a more promising opportunity for Canadian natural gas output than originally thought, the National Energy Board (NEB) of Canada believes. Government analysts are so hopeful, in...

Lukoil executive: Russia could join Opec, cut crude production.(World Roundup)
November 3, 2008... A vice president of Russian private oil major Lukoil said last week that Russia could join Opec and that it could take part in production cuts to help prop up global prices. The comment by Leonid Fedun at a conference in Moscow came as a...

Exxon: Qatar LNG projects on schedule.(World Roundup)
November 3, 2008... Exxon Mobil said last week it expects to see production growth in 2009 related to the start-up of its large Qatar LNG trains. The company also said that all of its RasGas LNG projects in Qatar are on schedule. Exxon's RasGas Train 4 is...

Mexico wants more LNG, less US NatGas.(World Roundup)
November 3, 2008... As gas demand continues to grow in Mexico, Mexico looks set to increase imports, preferring what's seen as more secure LNG supply to US pipeline gas. Mexico currently consumes around 8 billion cubic feet per day of gas, and demand is...

Canadian price report.(World Roundup)
November 3, 2008... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas ...

SEER: supply juggernaut, global recession could moderate prices.
November 3, 2008... If analytical consensus pans out, there's no way out for natural gas bulls. There may be a momentary upside respite, but the pundits are espousing little doubt that the price-moderating stars are aligning. The analysts at Strategic Energy...

Natural gas weekly spot prices.
November 10, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 11/4-11/10 Avg. Avg. Nov. Price Daily Daily Bid Point $/MMBtu Chg. High Low Vol....

Dawdling? Halting return of Gulf gas production raising questions.
November 10, 2008... Offshore oil and gas production has been slow to return in the wake of hurricanes Gustav and Ike. But some industry observers are beginning the wonder if the delay is being caused purely by physical damage, or if financial concerns over the...

Carbon controls, energy taxes could be used to cover US bailout.
November 10, 2008... National debate on energy policy and carbon control measures are poised to merge perhaps more than ever as Democratic Sen. Barack Obama is sworn in as the next US president in a little more than two months from now, alongside strengthened...

Millennium pipe near completion; to serve Northeast NatGas markets.
November 10, 2008... After spending nearly a decade clearing regulatory and environmental hurdles and undergoing a major project redesign, the Millennium Pipeline is finally nearing completion. It is poised to begin serving New York state markets as early as Dec....

Ethanol industry bankruptcies could hit industrial gas demand.
November 10, 2008... Several US ethanol producers have filed for bankruptcy in recent weeks, which is bad news for natural gas bulls. Verasun, the second largest US ethanol producer, filed for bankruptcy last week, following smaller producers Bioenergy,...

Ruby progress.(Late news ...)
November 10, 2008... Ruby progress: The California Public Utilities Commission has approved plans by PG&E Corp's Pacific Gas & Electric unit to bring Rockies natural gas to California on the $3 billion Ruby Pipeline planned by El Paso. The 670-mile Ruby pipeline...

Climate considerations.(Late news ...)
November 10, 2008... Climate considerations: Canada's Conservative government wants to negotiate a climate change pact with the incoming administration of President-elect Barack Obama, which looks set to take a tougher stance on the environment than the Bush...

Deal off.(Late news ...)
November 10, 2008... Deal off: Billionaire investor Kirk Kerkorian has decided not to proceed with a previously announced tender offer for 14 million shares of Delta Petroleum's common stock (NGW Nov.3,p7). Kerkorian's Tracinda Corp. cited the steep decline in the...

Deteriorating economic outlook weighs on December gas futures.
November 10, 2008... Nymex December natural gas futures declined late last week as evidence mounts of a slowing US economy. But it's not so much that near-term gas demand is the issue, but a sympathetic move down with weak oil prices and tumbling equities....

Intrastate weekly spot prices.
November 10, 2008... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 11/4-11/10 Avg. Avg. Nov. Price Daily Daily Bid Point $/MMBtu Chg. High...

Devon, XTO and Anadarko produce strong showings in third quarter.
November 10, 2008... Strong profits, production increases and weathering the global credit crisis were all important themes touched on by Devon Energy, XTO Energy and Anadarko Petroleum when releasing their quarterly results last week. All three saw increases...

Prices and differentials for major hubs and selected city gates.
November 10, 2008... November 10, 2008 US$/MMBtu, Volume-Weighted SELECTED DAILY DIFFERENTIALS Differential 11/3 11/4 11/5 11/6 11/7 HH-NY +0.45 +0.38 +0.42 +0.42 +0.43 HH-Chicago -0.33 -0.92 -1.04 -0.61 -0.20...

Schlumberger chief bullish about global unconventional gas supply.
November 10, 2008... Schlumberger may be best known as an oil-field services provider, but the French-US company does a lot of business on the natural gas side, too. And that part of its business is growing with the development of more unconventional sources of gas...

Williams Mulling unit spin off; Joins El Paso in spending cuts.
November 10, 2008... In a move praised by analysts, US independent exploration and production company Williams said last week that it is considering a strategic reorganization involving a possible spin off of one or more of its primary business segments. ...

North American weekly gas storage.
November 10, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Oct. Oct. Yr. 31 24 Weekly Year Ago 5-year 5-year Region Week Week Change Ago Change Average Change US ...

Pioneer slashes capex, 'cutting muscle with fat' as prices dive.
November 10, 2008... Independent exploration and production company Pioneer Natural Resources announced a significant reduction in its 2009 capital expenditure program on Wednesday--some 30% to 60% below 2008 spending levels--as the company positions itself to wait...

Natural gas futures.
November 10, 2008... NATURAL GAS FUTURES Trading Dates: November 3 - November 7 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last...

Pipeline capacity utilization.
November 10, 2008... PIPELINE CAPACITY UTILIZATION Location FlowDate Flow Nov. (2008) Nov. (2007) Month-to-Date Month-to-Date Transco 11/4/2008 1,287,022 1,396,113 1,537,831 Zone 6 NY ...

Western co-op shows way to sequestered future.(CURRENT)
November 10, 2008... While many utilities are struggling with the concept of reducing their greenhouse gas emissions--caught in limbo while waiting for carbon legislation--one North Dakota co-operative has moved forward on the topic, setting a precedent for energy...

Golden state voters reject two green propositions decisively.(CURRENT)
November 10, 2008... California voters overwhelmingly rejected two California state propositions related to renewable energy. The propositions would have required utilities to generate 20% of their power from renewable energy by 2010 and given rebates to...

NRC pushes construction oversight.(CURRENT)
November 10, 2008... The Nuclear Regulatory Commission has warned the nuclear industry to be vigilant when overseeing construction projects after problems were discovered at the Savannah River Site in South Carolina earlier this year. The warning specifically...

Spot electricity trading.(CURRENT)
November 10, 2008... SPOT ELECTRICITY TRADING Trading Dates: November 3-November 7, 2008 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Yucca Mountain site costs ballooning.(CURRENT)
November 10, 2008... The nuclear waste dump planned for Yucca Mountain in Nevada will cost billions more than previously estimated due to a hike in the amount of waste it will have to dispose of and inflation, the Energy Department said last week. The Yucca...

Comparative fuel prices.(CURRENT)
November 10, 2008... COMPARATIVE FUEL PRICES (Cash Market) November 10, 2008 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $82.50/ton $6.95/MMBtu ...

Initial drilling in New Mexico's Otero Mesa sparking controversy.(Regional Market Roundup)
November 10, 2008... The US Bureau of Land Management has conditionally approved a set of natural gas exploration wells in New Mexico's vast Otero Mesa grassland in the southeastern part of the state. Producers say the region in worth exploring, at the very...

Baker Hughes rig count.(Regional Market Roundup)
November 10, 2008... BAKER HUGHES RIG COUNT Week Ended Nov. 7 Rotary Rigs Current Week Previous Week Year Ago Total US 1,992 1,971 1,801 Land 1,907 ...

Gas price trends.(Regional Market Roundup)
November 10, 2008... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO South North Nov 10, 2008 Inter (well) -- -- 3.71 3.69 ...

Maple LNG 4Gas project to target central Canada, not US Northeast.(Canadian Markets)
November 10, 2008... More than one LNG import terminal has set its sights on the central Canadian market. The fully-permitted Maple LNG, part of the international 4Gas terminal network, recently changed course with plans to serve Ontario and beyond, rather than the...

Trinidad reported renegotiating early European partner contracts.(World Roundup)
November 10, 2008... Trinidad and Tobago Prime Minister Patrick Manning met last month with Atlantic LNG's main shareholders in Europe, and obtained agreement on formation of a team to discuss renegotiation of the contracts that underpin the project's early trains,...

Gas demand up in Italy, Spain.(World Roundup)
November 10, 2008... Southern Europe's gas demand looks to be resurgent, judging by figures issued by its two key grid operators. Throughput in Italy is up by almost 8%, while flows through Spain's Enagas jumped by 17% as gas-fired generation increased by...

Algeria reports four gas finds.(World Roundup)
November 10, 2008... Four gas finds reported in Algeria take to 17 the number of discoveries made by Algerian state Sonatrach this year. Two of the finds were by Sonatrach as sole operator, while the others were made by China National Petroleum Corp. and...

Canadian price report.(World Roundup)
November 10, 2008... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas ...

Incoming administration long on vision, but shortsighted on gas.
November 10, 2008... At my neighborhood gas station, the price of unleaded regular fuel dropped under $2 per gallon last week. But what seems like good news for my pocket book is bad news for the incoming Obama administration if it's serious about weaning the...

Natural gas weekly spot prices.
November 17, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 11/11-11/17 Avg. Avg. Nov. Price Daily Daily Bid Point $/MMBtu Chg. High Low Vol....

Mass congestion: Marcellus, Rex supplies to collide in Northeast.
November 17, 2008... Natural gas supplies transported on Rockies Express (Rex) East in mid-2009 may be too much for Northeast consumers to handle. Output from the Marcellus Shale, which spans Ohio, Pennsylvania, New York and West Virginia, could easily collide...

Indicators signaling bottom may be near for Dow, energy commodities.
November 17, 2008... With the ebb and flow of so many market forces, even the most experienced traders are having difficulty gauging where the energy markets, including natural gas, are headed. But one thing is certain, equities are directly influencing energy...

MMS moves forward with Virginia offshore lease sale preparations.
November 17, 2008... The US Minerals Management Service is continuing to make preparations for a sale of federal oil and gas leases off the coast of Virginia three years from now. Virginia has been penciled in for a lease sale in late 2011 as part of the agency's...

USGS: Alaska's vast gas hydrate reserves may stretch for decades.
November 17, 2008... Alaska's North Slope holds an estimated 85.4 trillion cubic feet of undiscovered, technically recoverable natural gas in the form of gas hydrates, which could substantially increase supply for a proposed gas pipeline to the US Midwest, federal...

Credit projections.(Late news ...)
November 17, 2008... Credit projections: Standard & Poor's has forecast a "relatively stable" credit outlook for the oil and gas industry over the next year despite the recent drop in commodity prices and the credit crunch. The rating agency said it kept its oil...

Rockies sale.(Late news ...)
November 17, 2008... Rockies sale: Forest Oil has agreed to lower the price of its Rockies natural gas properties divestiture by 22%. Under the terms of the revised deal with an undisclosed buyer, the cash purchase price has been reduced from $258 million to $200...

Blind Faith.(Late news ...)
November 17, 2008... Blind Faith: Chevron's Blind Faith project in the deep-water Gulf of Mexico has begun operations, Chief Executive David O'Reilly said. Blind Faith's initial production is expected to be about 30,000 barrels of oil and 30 MMcf/d of gas.

EOG shifting focus from gas to oil plays; Bakken, Barnett cited.
November 17, 2008... With oil and gas prices expected to hold at depressed levels into 2009, EOG Resources will spend a greater portion of its capital expenditure on its oil plays, a company executive said last week. Senior Vice President of Exploration Loren...

Intrastate weekly spot prices.
November 17, 2008... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 11/11-11/17 Avg. Avg. Nov. Price Daily Daily Bid Point $/MMBtu Chg. High...

NatGas remains resilient amid collapsing crude, ample storage.
November 17, 2008... Even in the face of tumbling crude oil and a surprisingly large increase in gas inventories, which caught traders off guard, Nymex December gas futures were resilient as ever, finishing flat on Friday. [GRAPHIC OMITTED] "We're entering...

Prices and differentials for major hubs and selected city gates.
November 17, 2008... SELECTED DAILY DIFFERENTIALS Differential 11/10 11/11 11/12 11/13 11/14 HH-NY +0.87 +0.63 +0.63 +0.41 +0.63 HH-Chicago +0.04 -0.03 -0.09 -0.35 -0.22 AECO-CHIC +0.22 +0.18 +1.06 +0.79 +0.97 AECO-PG&E...

North American weekly gas storage.
November 17, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Nov. 7 Oct. 31 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 2041 2010 31...

Natural gas futures.
November 17, 2008... NATURAL GAS FUTURES Trading Dates: Nov. 10 - Nov. 14 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume ...