Natural Gas Week articles from September 2004

Natural Gas Week archives from September 2004

Natural gas weekly spot prices.
September 6, 2004... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 8/31-9/6 Avg. Avg. Sep. Price Daily Daily Bid Point $/MMBtu Chg....

Official: pullbacks not signal of retreat from Nova Scotia.
September 6, 2004... One company's decision to stop drilling off the coast of Nova Scotia was called "just business as usual" by a Canadian official who said it was not the signal of a general retreat from the area by the exploration and production industry. ...

Industry debates best use of coal gasification technology.
September 6, 2004... Like some quest for El Dorado, black coal persists in blazing new paths into US natural gas, refining and power markets. Technological advancements, supply shortages and the need for pollution solutions have helped push coal gasification...

Gas prices plummet below $5 on mild weather, burgeoning stores.
September 6, 2004... Bears are in full command of natural gas markets near-term with no weather loads on the horizon, storage rapidly filling, and powerful Hurricane Frances likely to inflict a heavy toll on gas-fired power loads in Florida. [GRAPHIC OMITTED]...

TCPL shifts focus to Canadian LNG sites, but still eyes US.
September 6, 2004... TransCanada PipeLines (TCPL) expects its home country to be more accepting toward liquefied natural gas receiving and regasification terminals than folks so far in New England. Last week, TCPL and partner PetroCanada disclosed plans to...

Commitment made.(Late News)
September 6, 2004... Commitment made: Dow Chemical is maintaining its commitment to 500 MMcf/d of capacity in the planned Freeport LNG receiving terminal in Freeport, Texas, according to Dow spokesperson Jody Summerall. The company had an option to reduce the...

Total takes option.(Late News)
September 6, 2004... Total takes option: French oil major Total has taken an option on 1 Bcf/d of the 2.6 Bcf/d capacity at Cheniere Energy's proposed Sabine Pass LNG regasification terminal. Cheniere said Friday that Total signed an agreement giving it the right...

Liftboat division sold.(Late News)
September 6, 2004... Liftboat division sold: Global Industries of Carlyss, Louisiana, has sold its liftboat division to Mercury Offshore Assets for $53 million. The deal is expected to close in the next 45 days. Global provides liftboat support for the offshore oil...

Midsize companies seeking own piece of global LNG action.
September 6, 2004... Liquefied natural gas, once seen as a capital-intensive business best left to the supermajors and national oil companies, is attracting increasing numbers of midsize players. Companies such as Anadarko and Petro-Canada, responding to...

Intrastate weekly spot prices.
September 6, 2004... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 8/31-9/6 Avg. Avg. Sep. Price Daily Daily Bid Point $/MMBtu Chg. High Low...

Prices and differentials for major hubs and selected city gates.
September 6, 2004... September 6, 2004 US$/MMBtu, Volume-Weighted [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 8/30 8/31 9/1 9/2 9/3 HH-NY +0.52 +0.50 +0.42 +0.40 +0.28 HH-Chicago +0.04 -0.05...

Laser technology keeps eye on natural gas pipelines from sky.
September 6, 2004... ITT Industries may soon have an angel in the sky helping natural gas pipeline owners find leaks before they become serious problems. Located in Rochester, New York, ITT Industries is completing testing of its ANGEL Service. Instead of a...

Composite spot wellhead price.
September 6, 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 2003 5.15 6.91 7.14 4.94 5.48...

CFTC, FERC find no evidence of manipulation in winter spike.
September 6, 2004... A sharp jump in natural gas prices early last winter was a result of normal market forces rather market manipulation, federal regulators concluded last week. The US Commodity Futures Trading Commission and Federal Energy Regulatory...

Natural gas futures.
September 6, 2004... NATURAL GAS FUTURES Trading Dates: August 30 - September 3, 2004 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last...

Assets continue to pass from former merchants to Wall Street.
September 6, 2004... Natural gas trading and marketing, the business that was supposed to turn natural gas pipeline companies, utilities and other low-return energy companies into glamorous high-profit trendsetters, is losing what little charm it had left for the...

North American weekly gas storage.
September 6, 2004... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Aug. 27 Aug. 20 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1539...

Texas firm fields new water pump for drilling industry.
September 6, 2004... A new hydraulic pump is being seen as an economic boon for the Texas company that designed it and a strategic asset for the US, according to Department of Energy officials. Oilwell Hydraulics of Odessa, Texas, is the driving force behind...

Natural gas bidweek prices.
September 6, 2004... NATURAL GAS BIDWEEK PRICES Flow Dates: 9/1-9/30 Sep. Chg. Prev. Price Avg. from Bid Point $/MMBtu Prev....

Anadarko, EnCana asset sale programs drive M&A activity.
September 6, 2004... North American upstream merger and acquisition activity has continued at a healthy clip though so far the deal flow has fallen short of a blockbuster second quarter. Asset sale programs by Anadarko and EnCana in the Gulf of Mexico and in...

NGW'S monthly weighted averages.
September 6, 2004... NGW'S MONTHLY WEIGHTED AVERAGES $/MMBtu Price Point Aug-04 Jul-04 Jun-04 May-04 Apr-04 Gulf Coast ANR SE 5.37 5.82 6.19 6.20 5.63 Col. Gulf - Earth 5.40 5.88 ...

AEP OK'ed to join PJM; plans baseload IGCC plant.(Current)
September 6, 2004... One of the nation's largest power companies produced a humming noise last week louder than its 36,000 MW of generation, of which 65% is powered by coal. American Electric Power (AEP) put on a grand concert last when it produced a trio of...

Cinergy adds to portfolio with addition of Southeast Plants.(Current)
September 6, 2004... Cinergy's marketing and trading affiliates announced last week a three-year agreement to provide energy management services for several natural gas-fired facilities in the Southeast owned by KGen Power. KGen, a subsidiary of the...

Power line garners additional support.(Current)
September 6, 2004... American Transmission Company (ATC) has gained more ground in building its 220-mile transmission project to relieve power delivery constraints and enhance reliability in northwestern Wisconsin. Marathon County, one of eight counties the...

Power markets in Schwarzenegger's hands.(Current)
September 6, 2004... California may have to wait until next year for new electricity legislation if Gov. Arnold Schwarzenegger vetoes ssembly Bill 2006, and local papers have reported that the governor has vowed to veto the bill if it fails to include amendments...

Spot electricity trading.
September 6, 2004... SPOT ELECTRICITY TRADING Trading Dates: August 30-September 3, 2004 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Comparative fuel prices.
September 6, 2004... COMPARATIVE FUEL PRICES (Cash Market) September 6, 2004 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $62.00/ton $5.12/MMBtu $2.58/MMBtu EAST COAST ...

EnCana completes $395 million deal with Harvest Energy Trust.(Regional Market Roundup)
September 6, 2004... EnCana has closed its previously announced sale of oil and natural gas reserves to Harvest Energy Trust for $395 million. EnCana officials said the company will use proceeds from the sale for debt repayment and other corporate purposes. The...

Baker hughes rig count.
September 6, 2004... [ILLUSTRATION OMITTED] BAKER HUGHES RIG COUNT Week Ended Sep. 3 Rotary Rigs Current Previous Year Week Week Ago Total US 1,249 1,239...

Gas price trends.
September 6, 2004... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO South North Sep 6, 2004 Inter (well) - - 4.20 4.11 Intra...

Study shows impact of natural gas into Atlantic Canada regions.(Canadian Markets)
September 6, 2004... The Petroleum Research Atlantic Canada (PRAC) has completed a study on the social-economic benefits and costs of introducing natural gas into greenfield areas. But, according to one member of the group, it's just a first step. "There are...

Syntroleum signs Nigerian GTL deal.(World Roundup)
September 6, 2004... Tulsa-based Syntroleum has signed a heads of agreement with Yinka Folawiyo Petroleum (YFP) of Nigeria for the possible development of an offshore oil and gas discovery that would use Syntroleum's natural gas-to-liquids (GTL) process to convert...

Plan oks cross-border gas pipelines.(World Roundup)
September 6, 2004... The California Public Utilities Commission has approved a plan that would allow liquefied natural gas to be shipped from Mexico through California for use in other Western US states. Under the plan, the commission voted to allow Sempra...

Canadian price report.
September 6, 2004... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas ...

Forecasts predict winter of extremes ahead for gas market.(World Roundup)
September 6, 2004... If you are living in the northern US, dig out that cold weather gear--and if you are living in the Deep South, expect almost balmy conditions this winter. Or maybe not--just prepare for a wild ride this winter, according to the Farmers'...

Gas price report.
September 6, 2004... GAS PRICE REPORT ($/MMBtu--Spot) September 6, 2004 Interstate Intrastate Delivered Delivered Wellhead Wellhead To Pipeline To Utility Bid ...

Natural gas weekly spot prices.
September 13, 2004... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 9/7-9/13 Avg. Avg. Sep. Price Daily Daily Bid Point $/MMBtu Chg....

Anadarko sells US onshore assets for $850m, Wyoming interests.
September 13, 2004... Anadarko Petroleum has sold a large package of US onshore assets in exchange for $850 million in cash plus interests in two oil and gas fields in Wyoming. Most of the assets were acquired by Merit Energy, a private company based in Dallas. ...

Fearing attack, pipelines keep mum on operations, facilities.
September 13, 2004... A high-ranking Russian diplomat was questioned recently after a 911 caller alerted police that he was taking pictures of a LNG plant on the Maryland shore. He was released when police learned he had merely been taking pictures of wildlife...

Ivan keeps gas markets on edge during low-demand September.
September 13, 2004... Powerful Hurricane Ivan remained an outside threat late Friday to enter the Gulf of Mexico by early this week and disrupt offshore oil and gas producing operations, and kept traders on edge as a result. Otherwise, the battle lines are pretty...

Devon's Nichols not tempted to part with its midstream assets.
September 13, 2004... Devon Energy Chief Executive Larry Nichols says he is not tempted to sell the company's midstream gas-gathering and processing businesses, even though he reckons a sale could raise somewhere in the region of $2.5 billion to $3 billion. ...

Pipeline sale gets OK.(Late News)
September 13, 2004... Pipeline sale gets OK: US Bankruptcy Judge Arthur Gonzalez gave the OK Friday to Enron's plan to sell whole or part interest in three natural gas pipelines for $2 billion to CCE Holdings, a joint venture of Southern Union, and GE Commercial...

Seismic work planned.(Late News)
September 13, 2004... Seismic work planned: Nordic Oil and Gas will begin seismic and drilling operations in Alberta, shortly. The company did not give a starting date for the work. The seismic survey will be done on property in Preeceville while the drilling...

President fired.(Late News)
September 13, 2004... President fired: Pride International, a Houston-based oil and natural gas drilling services contractor, has fired President John C.G. O'Leary over differences with the board of directors and senior management over what the company called...

Forecast calls 2005 'robust' for Canadian service companies.
September 13, 2004... Even after one of the wettest Augusts on record in Western Canada, there's still plenty for Canadian service companies to be smiling about. That was the bottom line of a new report by Calgary-based Peters & Co., an investment banking firm...

Intrastate weekly spot prices.
September 13, 2004... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 9/7-9/13 Avg. Avg. Sep. Price Daily Daily Bid Point $/MMBtu Chg. High...

Reported California find could herald renewed gas production.
September 13, 2004... California may be on the way to a new era in oil and natural gas production. At least that's what officials at the TriValley Corp. believe. Headquartered in Bakersfield, California, the 42-year-old company has several projects that it says...

Prices and differentials for major hubs and selected city gates.
September 13, 2004... September 13, 2004 US$/MMBtu, Volume-Weighted [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 9/6 9/7 9/8 9/9 9/10 HH-NY +0.28 +0.44 +0.51 +0.50 +0.44 HH-Chicago -0.04...

Exxon Mobil global E&P portfolio tipping heavily to natural gas.
September 13, 2004... The tiger and the corner filling station may be the most visible symbols of super-major Exxon Mobil, but a look at the company's project development portfolio suggests that its future in both North America and globally is in natural gas. ...

North American weekly gas storage.
September 13, 2004... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Sep. 3 Aug. 27 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1589...

Greenpeace attacks Chevron's Mexico LNG plan, cites security.
September 13, 2004... Environmental group Greenpeace launched a two-barbed attack last week on ChevronTexaco, which plans to build an LNG receiving terminal offshore the Mexican state of Baja California, just south of the US-Mexican border. The organization led...

Natural gas futures.
September 13, 2004... NATURAL GAS FUTURES Trading Dates: September 7 - September 10, 2004 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last...

Significant expansion under way at Alabama storage field.
September 13, 2004... Houston-based MultiFuels is in the final stages of boosting the storage capacity of its Freebird Gas Storage Project in Alabama by almost 6 Bcf in a move that will give it access to the New England markets. The project, announced in April,...

Pipeline capacity utilization.
September 13, 2004... PIPELINE CAPACITY UTILIZATION Pipeline Point Name Capacity Colorado Interstate Gas Cheyenne 590,000 Columbia Gas Transmission Leach 2,218,000...

Dream of gas displacing coal proves fleeting.(Current)
September 13, 2004... Expectations that natural gas would replace coal as the primary power generation fuel in North America, if not the world, have turned out to be as ephemeral as Enron's profits. Natural gas did capture the vast majority of new power-generation...

California might dodge blackout bullet.
September 13, 2004... A senior official with the California government has a simple explanation for why the state has avoided rolling power blackouts this summer, despite having broken and re-broken records for electricity demand a whopping six times. "Some of...

Dominion makes $656m bid for USGen's New England plants.(Current)
September 13, 2004... Dominion Resources has made a $656 million bid to buy three power plants from USGen New England. In a joint statement, both companies said the transaction includes $536 million in cash plus a $120 million adjustment for inventory and some...

AEP to sell stake in nuclear plant.(Current)
September 13, 2004... American Electric Power (AEP) will sell its 25.2% stake in the South Texas Project nuclear plant to co-owners Texas Genco Holdings and the City Public Service Board of San Antonio. Under the terms of the agreement, Texas Genco will buy...

McDermott unit gets $190m boiler deal.(Current)
September 13, 2004... Babcock & Wilcox Co., a unit of McDermott International, has received a $190 million contract to build a 500-MW coal-fired boiler for Wisconsin Public Service, a division of WPS Resources. According to a statement from McDermott, the...

Spot electricity trading.
September 13, 2004... SPOT ELECTRICITY TRADING Trading Dates: September 7-September 10, 2004 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg.Price Avg. Price This Last Year Month POINT...

Comparative fuel prices.
September 13, 2004... COMPARATIVE FUEL PRICES (Cash Market) September 13, 2004 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $62.50/ton $4.97/MMBtu $2.60/MMBtu EAST COAST ...

Harrier field problems plague pioneer's Gulf of Mexico results.(Regional Market Roundup)
September 13, 2004... Pioneer Natural Resources has lowered its third-quarter production guidance after early water encroachment forced it to shut in production from its Harrier Field in the Gulf of Mexico. The reduced guidance is also due in part to...

Baker hughes rig count.
September 13, 2004... [ILLUSTRATION OMITTED] BAKER HUGHES RIG COUNT Week Ended Sep. 10 Rotary Rigs Current Previous Year Week Week Ago Total US 1,240 1,249...

Gas price trends.
September 13, 2004... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO South North Sep 13, 2004 Inter (well) - - 4.10 4.02 Intra...

First nations suit could stall Mackenzie pipeline time-table.(Canadian Markets)
September 13, 2004... The proposed C$5 billion (US$3.88 billion), 850-mile Mackenzie Delta natural gas pipeline may be stalled due to legal action brought on by the members of the Deh Cho First Nations tribe. Representing the 7,000 members of the tribe, Grand...

Trinidad shipments resume after Ivan.(World Roundup)
September 13, 2004... Trinidad's Atlantic LNG has resumed loading of liquefied natural gas cargoes following a precautionary interruption Sep. 6 because of Hurricane Ivan. Activity at the liquefaction trains was not disrupted during that period. Esther Le...

Deal signed on Peruvian LNG project.(World Roundup)
September 13, 2004... Hunt Oil and South Korea's SK Corp. have signed a production contract for Block 56 in Peru's Amazon--the source of gas for the second, liquefied natural gas phase of Peru's Camisea project. Hunt hopes to begin liquids exports from the second...

Canadian price report.
September 13, 2004... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas ...

Price bulls forced to eat crow following disappointing summer.(World Roundup)
September 13, 2004... The chickens have come home to roost for the most zealous price bulls in the natural gas market, who are reining in predictions after forecasts for $7/MMBtu or $8 gas this summer blew up in the face of mild weather. Spot Henry Hub gas...

Gas price report.
September 13, 2004... GAS PRICE REPORT ($/MMBtu--Spot) September 13, 2004 Interstate Intrastate Delivered Delivered Wellhead Wellhead To Pipeline To Utility Bid...

Natural gas weekly spot prices.
September 20, 2004... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 9/14-9/20 Avg. Avg. Sep. Price Daily Daily Bid Point $/MMBtu...

Companies scramble to assess Ivan's toll to Gulf production.
September 20, 2004... Damage reports from across the Gulf of Mexico continued to trickle in Friday as companies used fixed-wing aircraft and helicopters to inspect the almost 900 rigs and platforms that were in the path of Hurricane Ivan. At least one natural...

Excelerate says offshore LNG facility will open by January.
September 20, 2004... Excelerate Energy Bridge is on track to complete the installation of its offshore liquefied natural gas unloading buoy and related equipment for the Gulf Gateway project by the end of this year or early in 2005, President and Chief Executive...

Gas prices erupt as Ivan deals blow to some Gulf operations.
September 20, 2004... Traders were still sorting through reports from operators Friday, but the likelihood that Hurricane Ivan had inflicted lasting damage to some production facilities offshore the Gulf of Mexico has injected some bullishness into the near-term...

California wins first round for energy crisis reimbursments.
September 20, 2004... Although they won the most recent battle, California energy officials concede that they still haven't quite won the war against the Federal Energy Regulatory Commission over the delivery of multi-billion dollar refunds to California consumers...

Devil's Down.(Late News ...)
September 20, 2004... Devil's Down: Williams said late Friday its deepwater Devil's Tower production platform sustained damage and will be out of service at least a week due to Hurricane Ivan. "The platform and topsides are in place, although repairs will be...

Results restated.(Late News ...)
September 20, 2004... Results restated: Williams said it will restate its financial results back to 2000 to reflect discontinued plants and an unfavorable ruling over its former Alaska operations. The Tulsa-based natural gas company said the restatements were made...

Southern Union sells interest.(Late News ...)
September 20, 2004... Southern Union sells interest: Tulsa-based Oneok is expanding beyond its South Plains base of Kansas, Oklahoma and North Texas through the acquisition of Northern Plains Gas from CCE Holdings, a Southern Union-General Electric joint venture,...

Industry still struggling with gas interchangeability issues.
September 20, 2004... With imports of liquefied natural gas rapidly becoming a key determinant of US natural gas market dynamics, regulators are struggling with a host of new problems and questions. For starters, the issue of gas interchangeability has wide...

Intrastate weekly spot prices.
September 20, 2004... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 9/14-9/20 Avg. Avg. Sep. Price Daily Daily Bid Point $/MMBtu Chg. High...

Border disputes becoming part of risk analysis for E & P companies.
September 20, 2004... In addition to planning for weather problems and other natural risks in the search for oil and natural gas, exploration and production companies now have to take into account being caught up in the middle of border disputes as part of the risk...

Prices and differentials for major hubs and selected city gates.
September 20, 2004... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES September 20, 2004 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 9/13 9/14 9/15 9/16 9/17 HH-NY ...

Canadian support for East Coast LNG terminals on shaky ground.
September 20, 2004... The news that Atlantic Canada is the hands-on favorite as the place to build liquefied natural gas terminals to supply New England might come as a surprise to many Atlantic Canadians, according to experts in Nova Scotia, where the lion's share...

North American weekly gas storage.
September 20, 2004... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Sep. 10 Sep. 3 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1653 ...