Natural Gas Week articles from October 2007

Natural Gas Week archives from October 2007

Natural gas weekly spot prices.
October 1, 2007... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 9/25-10/1 Price Point $/MMBtu Chg. High Low GULF COAST ANR SE 6.24 +0.17 6.58 5.94 Col. Gulf - Erath ...

EnCana ripping Alberta Royalty revisions; may cut drilling budget.
October 1, 2007... Calgary-based EnCana, North America's largest natural gas producer, has fired back at the Alberta Royalty Review Panel Report calling for higher royalties for oil and gas production and is threatening to cut its capital budget in the province....

Ensco, Transocean newbuilds may signal a New Era in Gulf of Mexico.
October 1, 2007... Under construction in Asian shipyards, the Ensco 8502 and the Discoverer Americas may signal the start of a mini-Renaissance for the Gulf of Mexico. The two are among eight semi-submersibles and drillships now being built for Ensco and...

Collapsing dollar holds up oil, NatGas; bears poised to pounce.
October 1, 2007... With last week marking the end of the third quarter, it was time to "paint the board" for hedge funds and Wall Street end-of-quarter bonuses, which helped to prop up crude oil and natural gas futures. But with that event out of the way, bearish...

New battery storage raises wind reliability; no natgas threat, yet.
October 1, 2007... American Electric Power (AEP) plans to deploy 1,000 MW of battery storage on its distribution grid--25 MW by the end of this decade and the full 1,000 MW sometime during the next decade. Each 1-MW sodium sulfur (NAS) battery is about the...

Steel assets.(Late news...)
October 1, 2007... Steel Assets: Pipeline operator Kinder Morgan Energy Partners said Friday it has bought the assets of steel manufacturing firm Marine Terminals in a deal valued at $100 million. Marine Terminals mostly handles and stores steel and various...

Tropical update.(Late news...)
October 1, 2007... Tropical update: The National Hurricane Center said Friday that some models have Tropical Storm Karen making a westerly turn toward the East Coast by mid-week, while other forecasters said Karen could soon dissipate. Hurricane Lorenzo made...

Attacking coal.(Late news...)
October 1, 2007... Attacking coal: Chesapeake Energy believes the world is getting warmer and that rising temperatures will reduce US demand for natural gas to heat homes and other buildings, Chief Executive Aubrey McClendon said. US industrial demand for gas has...

Shell division sees challenges, payoffs in worldwide LNG market.
October 1, 2007... The role of LNG in the world's energy mix is getting stronger and Shell Global Solutions has every intention of being in the middle of it. That was the message given by Shell Global Solutions (USA) PresidentPaul Hamilton last week during a...

Intrastate weekly spot prices.
October 1, 2007... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 9/25-10/1 Avg. Avg. Oct. Price Daily Daily Bid Point $/MMBtu Chg....

Speaker: governments must get involved in climate change.(Company overview)
October 1, 2007... Solving the world's energy challenges can be done, and it can be done in an environmentally sound manner. But the nations of the world have "a duty--no, an obligation" to become involved, an energy industry leader said at Rice University last...

Prices and differentials for major hubs and selected city gates.
October 1, 2007... SELECTED DAILY DIFFERENTIALS Differential 9/24 9/25 9/26 9/27 9/28 HH-NY +0.59 +0.57 +0.52 +0.49 +0.49 HH-Chicago -0.07 -0.01 -0.12 -0.24 -0.24 AECO-CHIC +0.98 +1.15 +1.02 +1.07 +1.07 AECO-PG&E ...

Composite spot wellhead price.
October 1, 2007... COMPOSITE SPOT WELLHEAD PRICE January 2003 to Present ($/MMBtu) Year Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. 2007 6.25 7.79 6.52 7.07 7.34 7.03 6.03 6.10 5.53 2006 8.20 7.30 6.47 6.61 5.93...

Palin: Tapping Alaskan Natural Gas Reserves Vital to US Future.
October 1, 2007... The US can no longer afford to warehouse Alaska's vast natural resources, Alaska Gov. Sarah Palin told conferees this week at the Interstate Oil and Gas Compact Commission (IOGCC) annual meeting in New Orleans. "Alaska will play an...

Race is on to build vessel with onboard liquefaction capability.
October 1, 2007... The race is on to develop the world's first LNG floating production, storage and offloading (FPSO) vessel, as Netherlands-based SBM Offshore and Norway's Hoegh LNG have announced separate plans to develop an LNG FPSO by early next decade. ...

Natural gas futures.
October 1, 2007... NATURAL GAS FUTURES Trading Dates: September 24 - September 28, 2007 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last ...

Shrinking arctic ice cap creating political, environmental concerns.
October 1, 2007... The Arctic ice cap this summer shrank more than one million square miles--roughly 95 times the area of Massachusetts--below the average minimum area reached in recent decades, a recent report by the National Snow and Ice Data Center in Colorado...

North american weekly gas storage.
October 1, 2007... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Sep. Sep. Weekly Year Yr. 5-year 5-year 21 14 Ago Region US Week Week Change Ago Change Average Change ...

Natural gas bidweek prices.
October 1, 2007... NATURAL GAS BIDWEEK PRICES Flow Dates: 10/1-10/31 October Chg. Pre. Price Avg. from Bid- Point $/MMBtu Prev. High...

US to asia LNG shift appearing firm; Europe lags despite price.
October 1, 2007... Relative LNG exporter netbacks, burgeoning US gas stores, and comparative fuel economics in Asia all suggest that the 1.5 billion cubic feet per day or larger shift in LNG flows from US to Asian markets that began this month will continue, or...

NGW's monthly weighted averages.
October 1, 2007... $/MMBtu NGW'S MONTHLY WEIGHTED AVERAGES Price Point Sep-07 Aug-07 Jul-07 Jun-07 Gulf Coast ANR SE 5.89 6.28 6.22 7.37 Col. Gulf - Erath 5.97 6.26...

After 29 years in-vitro, US nukes expecting.(CURRENT)
October 1, 2007... After an initial, partial application submitted by UniStar for a new nuclear plant at the existing Calvert Cliffs in Maryland, the country can breathe easy: A complete application for a combined operating license--for the construction and...

With ventus buy, SUEZ moves to harness Canadian wind projects.(CURRENT)
October 1, 2007... With Suez Energy North America's acquisition of Ventus Energy, a Canadian wind power development company, Suez has established a new Houston-based division focused on renewable energy development. Suez Energy has secured land rights to more...

FPL to invest heavily in climate programs.(CURRENT)
October 1, 2007... Florida-based FPL Group has announced a $2.4 billion investment program aimed at increasing US solar thermal energy output and reducing carbon dioxide emissions. FPL Group, and its subsidiaries Florida Power & Light and FPL Energy,...

AEP moves to expand wind portfolio.(CURRENT)
October 1, 2007... American Electric Power, which recently has been expanding its portfolio to rely less upon coal, now comprising about three-fourths of the mega-utility's generation, recently signed a long-term power purchase agreement for renewable wind energy...

Spot electricity trading.(CURRENT)
October 1, 2007... SPOT ELECTRICITY TRADING Trading Dates: September 24-September 28, 2007 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month...

Xcel energy seeking peak power bids.(CURRENT)
October 1, 2007... Minneapolis-based Xcel Energy is calling for bids for 160 MW of electricity, beginning May 1, 2011, in order to meet growing demand for peak power in the Upper Midwest. Proposals are due Nov. 13; the utility, which serves nearly 1.6...

Kohl's going solar at California stores.(CURRENT)
October 1, 2007... Kohl's Department Stores has flipped the switch on a rooftop solar energy system at its Laguna Niguel, California, store. Kohl's is building solar electric systems at 63 of its 80 California locations. Together, they will produce 25 MW, or 15%...

Comparative fuel prices.(CURRENT)
October 1, 2007... COMPARATIVE FUEL PRICES (Cash Market) October 1, 2007 APPALACHIA Appalachian Ohio/Big Pool Sandy River Coal ...

Gill Ranch, PG&E teaming up for massive gas storage project.(Regional Market Roundup)
October 1, 2007... Gill Ranch Storage, a newly formed subsidiary of NW Natural, is working with Pacific Gas and Electric (PG&E) to develop an underground natural gas storage facility. Located about 25 miles west of Fresno, Californa, the Gill Ranch natural...

Texas.(Regional Market Roundup)
October 1, 2007... Exterra Energy has struck a deal to acquire the assets of Star of Texas Energy Services and its associated companies. The acquisition includes working interests in 71 currently producing wells, a number of wells not yet in production and...

Pennsylvania.(Regional Market Roundup)
October 1, 2007... A Williams' business division is holding an open season through Oct. 29 to obtain shipper interest in the proposed Rockies Connector natural gas pipeline that would connect Rockies supply to Northeast markets. Tulsa, Oklahoma-based...

Baker hughes rig count.(Regional Market Roundup)
October 1, 2007... [ILLUSTRATION OMITTED] BAKER HUGHES RIG COUNT Week Ended Sep. 28 Rotary Rigs Current Previous Year Week Week Ago Total US 1,760 1,769...

California.(Regional Market Roundup)
October 1, 2007... Aspen Exploration made it 17 out of 17 as it drilled a new natural gas well in the Sacramento Valley gas region of northern California. The well, located in the West Grimes Gas Field in Colusa County, was drilled to a depth of 8,250 feet...

Alaska.(Regional Market Roundup)
October 1, 2007... Former Alaska lawmaker Pete Kott has been found guilty of accepting a bribe to vote for oil tax legislation favored by the oil industry. Kott, who served 14 years in the House including a stint as speaker, was convicted last week by federal...

Also noted.(Regional Market Roundup)
October 1, 2007... GM named: Fort Lauderdale, Florida-based Dynalco has named Nizar Elias as general manager, responsible for worldwide operations. Dynalco, a manufacturer of electronic instruments and controls for the oil and gas, petrochemical and maritime...

Gas price trends.(Regional Market Roundup)
October 1, 2007... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO South North Oct 1, 2007 Inter (well) ...

Currency rates latest bad news to hit Alberta natgas producers.(Canadian Markets)
October 1, 2007... Alberta natural gas producers must be wondering what else could go wrong and what will be required of them to restore good times to their once vibrant sector. Two years ago, drilling was at a record level, and prices were soaring above...

Iraq eyes huge associated gas bonus with rising oil production.(World Roundup)
October 1, 2007... International oil companies queueing up for rights to help develop Iraqi oil fields might get gas production, processing and possibly even exports as a bonus. More than 80% of the country's 110 trillion cubic feet of proven gas reserves are...

Abu Dhabi's Taqa makes Canada buy.(World Roundup)
October 1, 2007... Abu Dhabi National Energy Co. (Taqa) is not wasting time making good on its promise to build a major position in Western Canada's upstream sector. Following closely on the heels of two other deals, Taqa has agreed to buy Calgarybased PrimeWest...

Ultra petroleum sells China assets.(World Roundup)
October 1, 2007... Ultra Petroleum has agreed to sell its assets in Bohai Bay, China, to a unit of Singapore Petroleum for about $223 million. The oil and natural gas exploration and production company said the sale was expected to close during the fourth...

Canadian price report.(World Roundup)
October 1, 2007... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) -BRITISH COLUMBIA- Huntingdon/ Kingsgate/ Total Sumas ...

The World LNG Challenge an interactive web seminar presentation--coming soon.
October 1, 2007... Energy Intelligence global gas experts Ian Nathan and Sarah Miller will address short and medium-term perspectives on global LNG markets: * Which LNG exporting countries are most at risk for running into gas resource problems? Will LNG...

Volatility: EIA analysis finds little evidence it's on the rise.
October 1, 2007... While the notion that market volatility is increasing may be widely accepted by industry observers, a recent Energy Information Administration study begs to differ. The EIA Office of Oil and Gas analysis found "no demonstrated long-term...

Gas price report.
October 1, 2007... GAS PRICE REPORT ($/MMBtu--Spot) October 1, 2007 Interstate Interstate Wellhead Wellhead Bid Bid ...

Natural gas weekly spot prices.
October 8, 2007... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 10/2-10/8 Price Avg. Daily Point $/MMBtu Chg. High Low Vol. GULF COAST ANR SE ...

Deep Panuke gets official OK; preparations already under way.
October 8, 2007... EnCana received final Canadian federal and provincial government approval last week to proceed with development of the Deep Panuke natural gas discovery offshore Nova Scotia. One final OK remains. EnCana's board of directors is due to give...

Warm US, European winter seen; foreshadows bearish gas market.
October 8, 2007... A flood of recently released weather forecasts, calling for a warmer than normal 2007-08 winter in the US, fore-shadows the possibility of a very bearish natural gas market in coming months. But factor in additional forecasts suggesting an...

NatGas rally: betting against this tradition a sure losing proposition.
October 8, 2007... This time of year, the natural gas market has a tendency to run counter to the fundamentals. And, last week's action in the November gas futures contract was a prime example as prices surged into the $7.50s in the face of increasingly bearish...

Supermajor shell reaffirms Gulf commitment at MMS lease auction.
October 8, 2007... Shell came out on top of last week's bidding at the federal Minerals Management Service's Central Gulf Lease Sale, where a record $2.9 billion in high bids were received. The supermajor took the top spot in the lease with $554.6 million in...

Treaty pushed.(Late news ...)
October 8, 2007... Treaty pushed: The White House is pushing the Senate to ratify UN Convention of the Law of the Sea treaty that has gained new relevance with the melting of the polar ice cap and anticipated competition for potential oil and natural gas reserves...

Guidance lowered.(Late news ...)
October 8, 2007... Guidance lowered: Nabors Industries on Friday said it expects third-quarter earnings to be below earlier estimates because of lower-than-expected rig activity in North America. Officials with the Hamilton, Bermuda-based firm, said they expect...

Calmer tropical storm seasons dubbed a 'blessing' for industry.
October 8, 2007... "It's been a blessing." That's how Lars Herbst, regional director for the federal Mineral Management Service's Gulf of Mexico Region, responded when asked his impression about the last two hurricane seasons. "This lull in activity has...

Rockies spot price weakness too deep; relief not seen until 2009.
October 8, 2007... Colorado Interstate Gas (CIG) pricing fell to $0.05/MMB-tu--yes, a nickel--back on Sep. 17 with the differential to the Henry Hub reaching $6.31, according to Natural Gas Week's sister daily, Gas Market Reconnaissance. While day-ahead CIG...

Alaska Governor's renewed stab at oil tax to impact NatGas future.
October 8, 2007... Alaska Gov. Sarah Palin last week rolled out new legislation designed to boost the state's share of oil revenue by at least a $1 billion per year. The overhaul of the tax law would apply to North Slope natural gas production, too, when, and if,...

Texas holds nation's first lease sale for wind tract.(CURRENT)
October 8, 2007... Texas has moved a step closer to making wind power a bigger chunk of its generation mix, both in newly designated wind zones and the Gulf of Mexico. Tuesday, the Public Utility Commission of Texas (PUC) issued an interim--and...

Race is on for new nuke applications.(CURRENT)
October 8, 2007... When a country has gone 29 years without an application for a nuclear plant license, having two applicants come forward within a couple months almost makes it seem the veritable floodgates have opened. Last week marked the trigger date for...

Salt river project raises rates; natural gas up in generation mix.(CURRENT)
October 8, 2007... Natural gas is the primary reason Phoenix-based utility Salt River Project (SRP) is raising its rates Nov. 1. Gas generates about a third of SRP's power, while a bit more than half comes from coal; nearly 17% from nuclear, and 4.5% from...

SCOTUS to hear west coast power cases.(CURRENT)
October 8, 2007... The US Supreme Court will consolidate and rule on two cases previously heard by the Federal Energy Regulatory Commission regarding power contracts forged during the West Coast power crisis of 2000-01. The plaintiffs, Las Vegas utility...

Airtricity sells North American segment.(CURRENT)
October 8, 2007... German E.On has agreed to buy privately-owned Irish wind generator Airtricity's North American business for $1.4 billion. Airtricity has 210 MW wind turbines installed in North America and expects a further 880 MW to be operational by end-2008....

National grid to divest keyspan NatGas unit.(CURRENT)
October 8, 2007... National Grid it is looking for bids for its massive Ravenswood Generating Station, acquired in the company's buyout of KeySpan (NGW Aug.27,p9). Ravenswood is a 2,450-MW facility in Queens, New York, that provides New York City about 25%...

FPL buys Wisconsin's point beach nuke.(CURRENT)
October 8, 2007... FPL Energy closed last week on the $924 million Point Beach nuclear plant in Wisconsin. Wisconsin Energy, an electricity and natural gas utility, will get about $882 million in net proceeds from the sale, nearly $60 million more than expected....

Williams proposing last link to bring rockies supply northeast.(Regional Market Roundup)
October 8, 2007... A business division of Tulsa, Oklahoma-based Williams is holding an open season through Nov. 5 to gauge shipper interest in an expansion of its Transco pipeline system to serve markets in the Northeast by November 2010. The Northeast...

Florida.(Regional Market Roundup)
October 8, 2007... Gulfstream Natural Gas System has been given the go-ahead by the Federal Energy Regulatory Commission to expand its pipeline system to provide natural gas service to Progress Energy's Bartow Power Plant in Pinellas County. A Gulfstream...

Texas.(Regional Market Roundup)
October 8, 2007... Transocean has entered into a one-year, $15 billion credit deal to help fund its proposed combination with Global-SantaFe, according to filings it made with the Securities and Exchange Commission. According to the filing, Goldman Sachs...

Gulf of Mexico.(Regional Market Roundup)
October 8, 2007... Independence Hub production has reached 440 million cubic feet per day, as nine of the 15 wells attached to the natural gas platform in the Gulf of Mexico have come online. A spokesman for Enterprise Products Partners (EPP), which owns 80%...

West Virginia.(Regional Market Roundup)
October 8, 2007... Petroleum Development has doubled its natural gas estimated reserves from a year ago. In a report released early last week, the Bridgeport, West Virginia-based independent said it estimates it had 607 billion cubic feet equivalent of...

Louisiana.(Regional Market Roundup)
October 8, 2007... PetroQuest Energy has raised its third-quarter production expectations. The Lafayette-based company said it now expects to produce about 85.5 million cubic feet equivalent per day to 87.5 MMcfe/d, up from its previously issued guidance of 82...

Also noted.(Regional market roundup)
October 8, 2007... VPs named: Quicksilver Resources has named three new vice-presidents in a shake-up of its top team. The Fort Worth-based company said Clay Blum has been named as Quicksilver's vice-president of land, Bill Buckler has been named as its vice...

Gas price trends.
October 8, 2007... GAS PRICE TRENDS $/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO South North Oct 8, 2007 Inter (well) -...

Nova Scotia energy data center could lure more firms offshore.(Canadian Markets)
October 8, 2007... Over the past decade, several significant natural gas discoveries--some in the trillion-cubic-foot range--still haven't lured more than a handful of oil and natural gas operators to the waters offshore the Canadian Maritimes province of Nova...

New Qatar gas projects hit by delays; costs, shortages cited.(World Roundup)
October 8, 2007... Delays are creeping into Qatar's gas export mega-projects, threatening the timely start-up of the Qatargas-2 LNG scheme. The problem stems in part from soaring costs and shortages of labor and equipment, according to a Qatari government...

Russian moves prompt customer concerns.(World Roundup)
October 8, 2007... The European Union is to hold an emergency meeting of EU gas experts and Russian and Ukrainian officials following threats by Russian Gazprom to cut supplies to Ukraine, a key gas transit route to Western Europe. The Gas Coordination Group...

Norway opening gas taps to Europe, UK.(World Roundup)
October 8, 2007... Norwegian gas exports to continental Europe and the UK should grow in light of new supply coming on line. The giant Ormen Lange field, which began producing Sep. 13, should make a major impact over the next year, while the smaller Njord...

Canadian price report.
October 8, 2007... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Total Huntingdon/Sumas Kingsgate/Eastport Province Border Spot Border...

October surprise rally strikes as winter trumps October demand.
October 8, 2007... How many times can a market be caught flatfooted by the "October Surprise" rally? It wasn't hard to buy into the notion that this year would be different, that a perennial pattern ensconced for more than a decade wouldn't repeat. ...

The global energy industry's premier conference.(28th Oil & Money)
October 8, 2007... The InterContinental London Park Lane * An exclusive forum for senior executives to assess current and future trends in the global energy industry * Top executives, policy makers, traders, and thought leaders from over 50 countries ...

The world's longest running executive oil & gas forum.
October 8, 2007... Oil & Money offers a unique opportunity for executives, traders, bankers, planners, and analysts to exchange confidential insights, network, and debate the most important issues facing the industry. Reserve your place today at Oil & Money 2007!...

2007 Petroleum Executive of the Year.
October 8, 2007... One of the highlights of the Oil & Money conference is the presentation of the prestigious Petroleum Executive of the Year Award. This year, H.E. Abdullah Bin Hamad Al-Attiyah, Deputy Prime Minister and Minister of Energy and Industry for the...

The Energy Intelligence Group.(Conference Convenors)
October 8, 2007... The Energy Intelligence Group (www.energyintel.com) has been the core information provider for the global energy industry for more than 50 years. We provide decision-makers with critically important news, insight and analysis on the global oil...

The International Herald Tribune.(Conference Convenors)
October 8, 2007... The International Herald Tribune (www.iht.com) is the premier international newspaper for opinion leaders and decisionmakers around the globe. It combines the extensive resources of its own correspondents with those of New York Times and is...

Natural gas weekly spot prices.
October 15, 2007... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 10/9-10/15 Price Avg. Avg. Oct. Point Daily Daily Bid $/MMBtu Chg. High Low ...

New England region poised for natural gas flood over 2008-10.
October 15, 2007... A combination of increased LNG volumes, Rocky Mountain production and even more gas from Atlantic Canada prospects is setting New England up for the possibility of gas-on-gas competition by the end of the decade. New England currently is...

Technology, timing help boost Gulf Lease Sale to record books.
October 15, 2007... Competition, innovation and timing are all being credited as some of the circumstances that came together and helped make the recently-held Central Gulf Lease Sale 205 one for the record books, with $2.9 billion in high bids and $5.2 billion in...