Natural Gas Week articles from October 2004

Natural Gas Week archives from October 2004

Natural gas weekly spot prices.
October 4, 2004... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 9/28-10/4 Avg. Avg. Oct. Price Daily Daily Bid Point $/MMBtu...

Ivan could be costliest storm yet for hard hit Gulf producers.
October 4, 2004... Little progress was made last week in restoring production lost to Hurricane Ivan, which is shaping up as the most expensive blow ever to the Gulf of Mexico oil and gas industry. There are encouraging signs for a near-term return of some lost...

Funding for new projects can be tricky.
October 4, 2004... Hefty oil and gas prices may economically favor building other fuel-based energy facilities, but regulatory uncertainty and credit issues remain. Integrated gasification combined cycle (IGCC), the most advanced clean-coal technology, seems...

ETP, Texas' largest pipeline network, looks toward growth.
October 4, 2004... The 2001-02 collapse of Enron and subsequent meltdown of the energy merchant sector was costly to investors, employees and business partners, but the asset sales that followed as companies tried to stay afloat created an opportunity for a...

NGW's monthly weighted averages.
October 4, 2004... NGW'S MONTHLY WEIGHTED AVERAGES $/MMBtu Price Point Sep-04 Aug-04 Jul-04 Jun-04 May-04 Apr-04 Gulf Coast ANR SE 4.80 5.37 5.82 6.19 6.20 5.63 Col. Gulf--Erath 5.00 5.40 ...

Nymex futures spike past $7 on major technical short squeeze.
October 4, 2004... Rising bullishness following the strike of Hurricane Ivan culminated in a remarkable 20% surge in Nymex natural gas futures last week that left some traders struggling for explanations and will result in much higher baseload prices through...

FERC, industry weigh merits of daily gas inventory reporting.
October 4, 2004... The Federal Energy Regulatory Commission continues to mull over whether it should require interstate pipeline companies and other gas storage operators to post gas storage inventory levels on a daily basis. The issue flared up last summer...

Grid integrated.(Late News)
October 4, 2004... Grid integrated: PJM Interconnection, a transmission organization based in Valley Forge, Pennsylvania, has assumed functional control of American Electric Power's (AEP) eastern transmission grid of about 22,300 transmission miles. AEP will...

Record reached.(Late News)
October 4, 2004... Record reached: LNG imports to the US hit record levels this summer, according to new data Friday from the Department of Energy's Office of Fossil Energy. LNG tankers offloaded 69.8 Bcf in July--a record high for a month--and 59.8 Bcf in...

Rigs sold.(Late News)
October 4, 2004... Rigs sold: Pride International of Houston said it has entered into a letter of intent to sell its cold-stacked jackup rigs, the Pride Kentucky and Pride Illinois, for $11 million in cash. The Houston-based company said the previously announced...

ROVs acquired.(Late News)
October 4, 2004... ROVs acquired: Oceaneering International has acquired 10 work class remotely operated vehicles (ROVs) from Fugro (USA) for $16.5 million. Seven of the 10 ROVs are now under contract--four in Mexico, two in Canada and one in the Gulf of Mexico....

Devon to sell maturing assets, keep Barnett Shale output steady.
October 4, 2004... Devon Energy plans to sell off a large package of mature assets in the US and Canada in the coming months but it expects its remaining North American onshore gas business to provide a solid foundation for its operations over the next five...

Intrastate weekly spot prices.
October 4, 2004... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 9/28-10/4 Avg. Avg. Oct. Price Daily Daily Bid Point $/MMBtu Chg. High Low...

Prices and differentials for major hubs and selected city gates.
October 4, 2004... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES October 4, 2004 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 9/27 9/28 9/29 9/30 10/1 HH-NY ...

EOG raises growth forecasts, updates Barnett Shale plans.
October 4, 2004... EOG Resources has raised its production growth targets for 2004, 2005 and 2006 and has also increased its estimate of how much gas it could recover from the Barnett Shale play in North Texas. The Houston-based independent now expects its...

Composite spot wellhead price.
October 4, 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 2003 5.15 6.91 7.14 4.94...

Composite spot delivered-to-pipeline price.
October 4, 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 2003 5.40 7.10...

St. Mary moves Hanging Woman coalbed methane project forward.
October 4, 2004... St. Mary Land & Exploration is working on hooking up its Hanging Woman Basin coalbed methane project to a gas-gathering system and expects to complete the operation by Dec. 1. Vice President of Investor Relations Bob Hanley said Tuesday the...

Natural gas futures.
October 4, 2004... NATURAL GAS FUTURES Trading Dates: September 27--October 1, 2004 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Thursday Last Volume Last ...

Canadian government leaning in favor of lifting west coast ban.
October 4, 2004... The benefits of significant natural gas deposits off the pristine coast of British Columbia may yet lead to the lifting of a 30-year old moratorium on drilling offshore Canada's West Coast, according to George Anderson, Canada's Deputy Minister...

Economic reports nix gas and oil for new energy development.
October 4, 2004... BP's slogan of "beyond petroleum" represents a future with more alternative energy sources. And that future may be approaching more rapidly than many imagined, spurred on by historically high natural gas and oil prices. Natural gas prices, in...

North American weekly gas storage.
October 4, 2004... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Sep. 24 Sep. 17 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1752...

Natural gas bidweek prices.
October 4, 2004... NATURAL GAS BIDWEEK PRICES Flow Dates: 10/1-10/31 October Chg. Prev. Price Avg. from Bid Point $/MMBtu Prev....

Ontario plan seeing public, private face off.(Current)
October 4, 2004... A proposed electricity bill in Ontario continues to power the controversy over whether to build new power generation under private or public market structures. The US has seen a similar battle where private markets created a surplus of...

Dynegy, AEP progress on asset sales.(Current)
October 4, 2004... Two former energy merchants disclosed milestones in their restructuring programs last week as Dynegy received the final regulatory approval to proceed with the sale of its Illinois electric utility and American Electric Power (AEP) sold its...

Underground cables to improve Northeast reliability, capacity.(Current)
October 4, 2004... The reliability outlook appears to be improving in Connecticut and Long Island after several years of concerns over a lack of regional power plants or power lines for importing supply. The Long Island Power Authority and Connecticut Light...

Mirant to pay fine, upgrade plant.(Current)
October 4, 2004... Mirant plans to pay a $500,000 civil penalty and invest about $1 million in pollution-control technology at one coal-fired power plant as part of an agreement with the federal Environmental Protection Agency over Clean Air Act violations. ...

Regenesys battery resurrected by VRB.(Current)
October 4, 2004... The world's largest electricity battery gained a lifeline last week when VRB Power Systems, a Canadian energy storage company, bought Regenesys for $1.3 million from a subsidiary of the German company RWE. The purchase gives VRB five years,...

Spot electricity trading.(Current)
October 4, 2004... SPOT ELECTRICITY TRADING Trading Dates: September 27-October 1, 2004 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT...

Comparative fuel prices.(Current)
October 4, 2004... COMPARATIVE FUEL PRICES (Cash Market) October 4, 2004 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $60.00/ton $5.98/MMBtu $2.50/MMBtu EAST COAST New...

MMS releases book detailing Gulf's OCS infrastructure, data.(Regional Market Roundup)
October 4, 2004... The federal Minerals Management Service has released a fact book on the oil and gas related infrastructure in the Gulf of Mexico and how it supports offshore activities. Called the "OCS--Related Infrastructure in the Gulf of Mexico Fact Book,"...

Baker Hughes rig count.(Regional Market Roundup)
October 4, 2004... BAKER HUGHES RIG COUNT Week Ended Oct. 1 Rotary Rigs Current Previous Year Week Week Ago Total US 1,243 1,239 1,091 Land ...

Gas price trends.(Regional Market Roundup)
October 4, 2004... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO TEXAS Gulf Coast Gulf Coast South...

Canadian-US market relations remain strong, needs nurturing.(Canadian Markets)
October 4, 2004... While the world's two biggest trading partners, the US and Canada, have a good record of cooperating on natural gas infrastructure issues, more work remains to be done if the relationship is to continue to prosper, according to many of the...

Chevron to move on African LNG project.(World Roundup)
October 4, 2004... ChevronTexaco plans to spend $20 billion in Africa over the next five years, led by investments in Angola where it is already the country's biggest foreign producer and is set to become a major backer of a liquefied natural gas project. ...

Qatar deals create LNG shipping powers.(World Roundup)
October 4, 2004... New York-based Overseas Shipping Group and ship manager Pronav are about to farm into one of the biggest deals in liquefied natural gas shipping history. Industry sources told Natural Gas Week that the two companies are each likely to be...

Exxon Mobil finds Azeri gas reservoir.(World Roundup)
October 4, 2004... Azeri oil officials have confirmed the first exploration well drilled by Exxon Mobil on the Zafar-Mashal Block found 1.7 Tcf reserves of gas and had to be shut down because of excessively high pressure. However, a significant Azeri gas...

Canadian price report.(World Roundup)
October 4, 2004... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA ALBERTA Huntingdon/ Kingsgate/ Total ...

NGSA: rising demand will put upward pressure on winter gas.
October 4, 2004... Despite an outlook for record high storage inventories, natural gas consumers should brace for higher bills this winter due to an anticipated jump in fuel demand, the Natural Gas Supply Association (NGSA) warned last week. A week before...

Gas price report.
October 4, 2004... GAS PRICE REPORT ($/MMBtu--Spot) October 4, 2004 Interstate Intrastate Delivered Delivered Wellhead Wellhead To Pipeline To Utility Bid ...

Natural gas weekly spot prices.
October 11, 2004... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 10/5-10/11 Avg. Avg. Oct. Price Daily Daily Bid Point $/MMBtu...

Rocky Mountain Front assets put off-limits for E & P development.
October 11, 2004... A section of Montana's Rocky Mountain Front has been declared "off-limits" by the Bureau of Land Management in the wake of a record number of comments opposing proposed drilling in the Blackleaf region. But while environmentalists and local...

Congress warned high gas prices will persist next five years.
October 11, 2004... Structural constraints will keep US natural gas prices at historically high levels for another five years before adequate volumes of liquefied natural gas imports become available, an industry analyst warned Congress. At a hearing Thursday...

Chilly October forecast may keep price records falling.
October 11, 2004... The energy complex, led by $50/bbl crude, has become a runaway train ahead of the winter, and price records could keep falling in natural gas markets with bullish weather in mid-October forecasts. [GRAPHIC OMITTED] The National Weather...

Pipeline capacity utilization.
October 11, 2004... PIPELINE CAPACITY UTILIZATION Pipeline Point Name Capacity Sep-04 Aug-04 Colorado Interstate Gas Cheyenne 590,000 72% 70% Columbia Gas Transmission ...

US LNG imports at record high, Lake Charles leads pack in Q3.
October 11, 2004... Despite an unusually strong pull from Asia, US receiving terminals managed to import record levels of LNG in the third quarter, of over 2 Bcf per day. Perhaps surprisingly, Southern Union's spot-dependent Lake Charles, Louisiana, terminal...

Russian-Canadian plan.(Late News)
October 11, 2004... Russian-Canadian plan: Officials with Gazprom and Petro-Canada said Friday they would work together to build LNG plants in Russia and the US. A Gazprom official said the agreement would be signed this week in Moscow during a visit by Canadian...

Duke releases report.(Late News)
October 11, 2004... Duke releases report: Duke Energy Gas Transmission said the fire at its Moss Bluff Hub Partners storage cavern from Aug. 19 to Aug. 26 was the result of a series of mechanical incidents. The report indicated that the incident began with the...

Applications filed.(Late News)
October 11, 2004... Applications filed: Officials with Toronto-based Imperial Oil said they filed applications with Canadian regulatory agencies for the Mackenzie Gas Project, an Arctic natural gas pipeline. The company said developing the three gas fields and...

FERC issues 'snapshot' of US gas storage, finds more needed.
October 11, 2004... While current storage levels appear adequate to meet seasonal demand, there could be problems down the road if new storage projects keep getting blocked and gas prices continue to spike, the Federal Energy Regulatory Commission said in a report...

Intrastate weekly spot prices.
October 11, 2004... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 10/5-10/11 Avg. Avg. Oct. Price Daily Daily Bid Point $/MMBtu Chg. High...

Prices and differentials for major hubs and selected city gates.
October 11, 2004... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES October 11, 2004 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 10/4 10/5 10/6 10/7 10/8 HH-NY ...

BP stands at threshold of ramp up in Gulf of Mexico production.
October 11, 2004... BP is at the threshold of a big ramp up in its deepwater Gulf of Mexico production, with four new field start-ups slated over the next couple of years. The London-based supermajor is also quietly conducting exploration and appraisal work with a...

INGAA: pipeline industry in US, Canada at critical crossroads.
October 11, 2004... The North American natural gas industry is facing a critical period over the next 20 years, and consumers in Canada and the US may pay the penalty for inaction in improving the link between the wellhead and the consumer. A study released...

North American weekly gas storage.
October 11, 2004... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Oct. 1 Sep. 24 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1807 ...

Industry reps: pipeline system safe, secure, little threat seen.
October 11, 2004... The very nature of the pipeline infrastructure in North America may be its best defense against possible terrorist attack. "The system is 'out of sight and out of mind,' which makes it less of a potential target for terrorist attacks," said...

Natural gas futures.
October 11, 2004... NATURAL GAS FUTURES Trading Dates: October 4-October 8, 2004 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume...

PTC accelerates wind projects on, offshore.(Current)
October 11, 2004... The wind generation industry has put the pedal to the metal as the long awaited extension to the production tax credit (PTC) got a boost last week. Even before President Bush signed the bill that extends the credit through 2005, Xcel...

New wind turbine design enters market.(Current)
October 11, 2004... A new "non-blade" wind turbine may start commercial production next year and benefit from the wind production tax credit (PTC). Hunt Aviation, the designer, aims to have limited commercial production during 2005 and does not anticipate...

GE, Bechtel form partnership to advance IGCC commercialization.(Current)
October 11, 2004... General Electric and Bechtel Corp., two global engineering and manufacturing powerhouses, have joined in an effort to chisel away at the challenges preventing the commercialization of the most advanced type of clean-coal technology--integrated...

SPP gains RTO status, nation's third.(Current)
October 11, 2004... The Southwest Power Pool (SPP) gained regional transmission organization (RTO) status last week making it the third major RTO in the US, after the Midwest ISO and PJM. ISO New England hopes to gain RTO status before year-end. The Federal...

Spot electricity trading.(Current)
October 11, 2004... SPOT ELECTRICITY TRADING Trading Dates: October 4-October 8, 2004 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

AES seeks to expand gas-fired capacity.(Current)
October 11, 2004... AES has applied for permits to build 500-MW of new gas-fired power capacity in California. AES expects to benefit from expedited siting rules approved last year by the California Legislature by building the new plants at currently existing...

Comparative fuel prices.(Current)
October 11, 2004... COMPARATIVE FUEL PRICES (Cash Market) October 11, 2004 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $60.00/ton $6.03/MMBtu $2.50/MMBtu EAST...

Production slowly returning in Gulf, repairs making headway.(Regional Market Roundup)
October 11, 2004... Several pipelines damaged by Hurricane Ivan made headway restoring service over the past week, reflected in improved gas flows reported by the Minerals Management Service. As of Friday morning, 1.8 Bcf/d of gas remains offline, better than...

Baker Hughes rig count.(Regional Market Roundup)
October 11, 2004... BAKER HUGHES RIG COUNT Week Ended Oct. 8 Rotary Rigs Current Previous Year Week Week Ago Total US 1,230 1,243 1,109 Land ...

Gas price trends.(Regional Market Roundup)
October 11, 2004... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO TEXAS Gulf Coast Gulf Coast South...

Study finds Canadian snow crab not hurt by E & P seismic testing.(Canadian Markets)
October 11, 2004... A study by the Canadian government has shown seismic testing by oil and natural gas companies has little effect on the snow crab--a major Canadian export and part of a C$2.1 billion (US$1.67 billion) fisheries industry. The research...

Exxon Mobil moves ahead on Gas Project.(World Roundup)
October 11, 2004... Exxon Mobil and partner Oil Search said last week they would move forward earlier than expected with front-end engineering and design (FEED) work for a big natural gas export project in Papua New Guinea (PNG), after they were able to sign...

Marathon buys BP LNG for Elba Island.(World Roundup)
October 11, 2004... Marathon has agreed to buy 1.2 million tons per year (160 MMcf/d) of LNG from BP for at least five years starting in mid-2005, for delivery to the Elba Island terminal in Georgia, where Marathon holds rights to regasify that amount of LNG for...

Canadian price report.(World Roundup)
October 11, 2004... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA ALBERTA Huntingdon/ Kingsgate/ Total Sumas...

EIA predicts higher prices, demand ahead for winter users.
October 11, 2004... US natural gas consumers should brace for 15% higher heating bills this winter due to higher wholesale prices and expectations for a colder winter, the US Energy Information Administration warned last week. In its annual winter fuels...

Gas price report.
October 11, 2004... GAS PRICE REPORT ($/MMBtu--Spot) October 11, 2004 Interstate Intrastate Delivered Delivered Wellhead Wellhead To Pipeline To Utility Bid ...

Natural gas weekly spot prices.
October 18, 2004... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 10/12-10/18 Avg. Avg. Price Daily Daily Point $/MMBtu Chg....

Mud slides from Ivan to impair some operators for six months.
October 18, 2004... Ultimately the devastation of Hurricane Ivan for producers and gatherers in the Gulf of Mexico may be measured not in wind and waves, but mud. In a sobering assessment, the Minerals Management Service said last week that the most extensive...

Driller Rowan says majors chase ultradeep shallow-shelf targets.
October 18, 2004... Independents are doing most of the drilling on the shallow-water Gulf of Mexico shelf, but the majors are also selectively pursuing ultradeep drilling opportunities, offshore drilling contractor Rowan Companies said last week. "Several...

Weak cash, bullish winter view pull market in two directions.
October 18, 2004... Bullishness remains robust for natural gas prices this winter, driven by sky-high crude and lingering production impairments from Hurricane Ivan, but a wide gulf between cash and futures prices is creating some uncertainty over the market's...

Future of Powder River play in question as BLM ponders ruling.
October 18, 2004... A recent appeals court decision leaves a myriad of questions to be answered about the future of coalbed methane drilling in the Powder River Basin. But what is certain is the ruling that the Bureau of Land Management did not sufficiently...

Settlement reached.(Late News)
October 18, 2004... Settlement reached: Avista Corp., the Washington Utilities and Transportation Commission and the Northwest Industrial Gas Users (NIGU) have reached an agreement that would reduce Avista's natural gas rate request. Based in Spokane, Washington,...

Grant awarded.(Late News)
October 18, 2004... Grant awarded: The US Department of Energy has awarded a $19.7 million Clean Coal Power initiative grant to Peabody Energy's Mustang Energy project for demonstrating technology to achieve ultra low emissions at the company's proposed 300 MW...

Coast Guard applies brakes to offshore LNG terminal licensing.
October 18, 2004... In the cutthroat race to get an LNG receiving terminal up and running, proposals for offshore facilities in the US Gulf of Mexico seemed until recently to have a leg up. But it now turns out that it's not all smooth sailing. Last month,...

Intrastate weekly spot prices.
October 18, 2004... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 10/12-10/18 Avg. Avg. Oct. Price Daily Daily Bid Point $/MMBtu Chg. High...

Anadarko moves on Bear Head terminal along Nova Scotia Coast.
October 18, 2004... Siting a liquefied natural gas receiving terminal on North America's East Coast has proved a daunting task, but Access Northeast Energy (ANE) and subsequently Anadarko Petroleum found the necessary confluence of geography, economic conditions,...

Prices and differentials for major hubs and selected city gates.
October 18, 2004... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES October 18, 2004 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 10/11 10/12 10/13 10/14 10/15 HH-NY ...