Natural Gas Week articles from September 2005

Natural Gas Week archives from September 2005

Natural gas weekly spot prices.
September 5, 2005... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 8/30-9/5 Avg. Price Daily Point $/MMBtu...

Hurricane Katrina whacks heart of Gulf oil and gas production.
September 5, 2005... Operations in the Gulf of Mexico and along the Louisiana Gulf Coast improved late in the week as more oil and gas came back on line and utilities began to restore power to affected areas. Nevertheless, significant volumes remain shut in....

Behind runaway prices: supply issues are real, but hype sets bar.
September 5, 2005... In the wake of the blow wrought by Hurricane Katrina on Gulf oil and gas production, it won't be long before the US market faces the prospect of $15/MMBtu gas. You might as well try to turn back the tide than prevent this bullish wave from...

More hurricane activity, damage likely to underpin market rally.
September 5, 2005... An energy industry already hurting from what is known about severe storm damage to Gulf infrastructure is bracing for additional reports this week that are sure to add support to last week's rise in natural gas prices. But what could seal...

Workers concerns top companies' worries in Gulf recovery efforts.
September 5, 2005... Besides trying to assess the status of billions of dollars of equipment in the wake of Hurricane Katrina, oil and gas operators are also trying to determine how their thousands of employees fared. Many of them reside in the affected areas...

Dresser units bought.(Late news)
September 5, 2005... Dresser units bought: Officials with Cooper Canyons said Friday that the Houston-based company will buy several business units of Dresser Inc., for about $224 million in cash. Cooper Canyon Chairman, President and Chief Executive Sheldon R....

Oceaneering gets contract.(Late news)
September 5, 2005... Oceaneering gets contract: Houston-based Oceaneering International has received a $42 million contract with Petrobras to supply umbilicals for several projects being developed by Brazil's state-run energy company. An Oceaneering official said...

Coast Guard to rely on industry to survey storm damage in Gulf.
September 5, 2005... Coast Guard helicopters and aircraft are usually the first ones to fly back over the Gulf of Mexico after a major storm. The pilots and crews scan the Gulf for rigs and platforms that may have been damaged or set adrift and their observations...

Intrastate weekly spot prices.
September 5, 2005... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 8/30-9/5 Avg. Avg. Sep. Price Daily Daily Bid Point $/MMBtu Chg. High...

Katrina damage assessment could herald beginning of price spike.
September 5, 2005... With reports of significant damage to Gulf infrastructure from Hurricane Katrina beginning to roll in, a sinking feeling is beginning to settle on the natural gas industry that a catastrophic shortfall in natural gas stores may be in the offing...

Prices and differentials for major hubs and selected city gates.
September 5, 2005... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES September 5, 2005 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 8/29 8/30 8/31 9/1 9/2 HH-NY ...

Outages, delays, and diversions producing US spot LNG squeeze.
September 5, 2005... The global LNG spot market is looking tighter and tighter. Even as demand is ballooning in all key markets, squeeze points have cropped up on the supply side in the form of unplanned outages at LNG plants and unusually long ramp-up periods at...

Composite spot wellhead price.
September 5, 2005... COMPOSITE SPOT WELLHEAD PRICE January 2001 to Present ($/MMBtu) Year Jan. Feb. March April May June July August Sept. Oct. 2005 6.05 5.99 6.77 6.99 6.26 6.91* 7.50 8.99 2004 5.90 4.79 5.28 5.62...

Composite spot delivered-to-pipeline price.
September 5, 2005... COMPOSITE SPOT DELIVERED-TO-PIPELINE PRICE January 2001 to Present ($/MMBtu) Year Jan. Feb. March April May June July August Sept. Oct. 2005 6.94 6.17 6.98 7.14 6.39 7.00 7.45 8.96 2004 6.30 4.82...

Canada weighs Katrina's effect, production already full throttle.
September 5, 2005... Given the cross-border arrangement of the North American energy market, the effects of Hurricane Katrina quickly spilled over into Canada, sharply driving up gasoline prices, lighting a rocket under the share prices of most Canadian energy...

Natural gas futures.
September 5, 2005... NATURAL GAS FUTURES Trading Dates: August 29-September 2, 2005 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume...

DTE buys more assets in Barnett Shale play, ramping up drilling.
September 5, 2005... Officials with DTE Energy said they saw a golden opportunity and took it, adding to their acreage in the Barnett Shale region in North Texas. DTE Energy President Gerard Anderson said the Detroit-based company has acquired leasehold...

North American weekly gas storage.
September 5, 2005... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Aug. 26 Aug. 19 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1503 ...

Natural gas bidweek prices.
September 5, 2005... NATURAL GAS BIDWEEK PRICES Flow Dates: 9/1-9/30 September Chg. Price Avg. from Point $/MMBtu Prev. High Low Vol. GULF COAST ANR SE 9.89 ...

Citygate prices.
September 5, 2005... CITYGATE PRICES September Chg. Prev. Price Avg. from Bid- Point $/MMBtu Prev. High Low Vol. Deals Week ...

Second-quarter earnings show healthy industry reaping profits.
September 5, 2005... The supermajors, such as Exxon Mobil, which announced it earned about $8 billion, continued to show healthy gains as second-quarter earnings recently came out. Higher market prices for oil and natural gas were the leading cause most companies...

NGW's monthly weighted averages.
September 5, 2005... NGW'S MONTHLY WEIGHTED AVERAGES $/MMBtu Price Point Aug.'05 Jul.'05 Jun.'05 May'05 Apr.'05 Gulf Coast ANR SE 8.90 7.40 7.09 6.41 7.09 Col. Gulf--Erath 9.38 7.53 ...

Storm's impact squeezes gas-fired generation.(CURRENT)
September 5, 2005... Short of someone pulling out a magic wand, the prospects of procuring 30 Bcf of natural gas supply are pretty non-existent. And with the reality of Hurricane Katrina growing steadily worse each day last week, trapped Gulf of Mexico natural gas...

Utilities toil at massive system repairs.(CURRENT)
September 5, 2005... Restoration will be a lengthy and costly process as crews put their noses to the grindstone and reconstruct in weeks, and perhaps months, what it took years to build. Some utilities have already had to face intense opposition from state...

Progress clearing way to build new nuclear plant in southeast.(CURRENT)
September 5, 2005... Last week, Progress Energy told the Nuclear Regulatory Commission (NRC) it may file an application in early 2008 for a construction and operating license (COL). The COL streamlines the approval process to build new, advanced reactors, and...

TECO coal terminal flooded by Katrina.(CURRENT)
September 5, 2005... TECO Energy said last week the utility was in "good shape" even though its Louisiana coal terminal is flooded. Hurricane Katrina flooded the terminal, which is located in Davant, Louisiana, south of New Orleans. The terminal is without...

Wisconsin seeks more renewables, coal.(CURRENT)
September 5, 2005... If Wisconsin Gov. Jim Doyle gets his way, coal gasification and renewable energy could be developed to diversify the state's current fuel mix and meet its 2%-3% annual growth rate for power demand. Doyle wants the state to purchase 10% of...

Spot electricity trading.(CURRENT)
September 5, 2005... SPOT ELECTRICITY TRADING Trading Dates: August 29-September 2, 2005 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Comparative fuel prices.(CURRENT)
September 5, 2005... COMPARATIVE FUEL PRICES (Cash Market) September 5, 2005 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $59.50/ton $12.54/MMBtu $2.48/MMBtu EAST...

States form coalition to fight bush, EPA over greenhouse gases.(Regional Market Roundup)
September 5, 2005... A coalition of states is continuing its fight against the federal government's decision not to regulate greenhouse gas emissions--blamed for climate change--despite its recent setback in a court fight. The coalition, which also includes...

Baker Hughes rig count.(Regional Market Roundup)
September 5, 2005... BAKER HUGHES RIG COUNT Week Ended Sep. 2 Rotary Rigs Current Previous Year Week Week Ago Total US 1,447 1,444 1,249 Land ...

Gas price trends.(Regional Market Roundup)
September 5, 2005... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO TEXAS Gulf Coast Gulf Coast South...

Terasen-Kinder Morgan deal may become pawn in lumber dispute.(Canadian Markets)
September 5, 2005... Pipeline giant Kinder Morgan may get mired in a drawn out trade dispute between Canada and the US that could delay their planned takeover of Vancouver-based pipeline company Terasen, which Kinder Morgan announced it would buy last month (NGW...

Yemen government OKs Total-led LNG project at port of Balhaf.(World Roundup)
September 5, 2005... The French Total-led Yemen LNG project is gathering pace. The government of Yemen last week gave final approval to the project, and Total expects to award construction contracts "in the coming days." The two-train facility at the port of...

Gazprom delivers first LNG cargo to US.(World Roundup)
September 5, 2005... Russian gas giant Gazprom on Friday celebrated its first foray into LNG and into the US gas market with the arrival of its first traded cargo at a US terminal. Gazprom's UK-based Marketing & Trading unit acquired the 60,000 ton cargo from...

Canadian price report.(World Roundup)
September 5, 2005... CANADIAN PRICE REPORT ($U.S. per MMBtu/$ Can per Gigajoule) BRITISH COLUMBIA ALBERTA Huntingdon/ Kingsgate/ Total ...

Energy supply, demand, prices are out of balance to III effect.(World Roundup)
September 5, 2005... A lot of talk has been bantered around of late about the need to find the pain threshold necessary to price a significant amount of demand out of the market, bringing it back into a perfect state of equilibrium with supply. Aside from the...

Gas price report.(World Roundup)
September 5, 2005... GAS PRICE REPORT ($/MMBtu--Spot) September 5, 2005 Interstate Intrastate Delivered Delivered Wellhead Wellhead To Pipeline To Utility Bid ...

Natural gas weekly spot prices.
September 12, 2005... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 9/6-9/12 Avg. Avg. Sep. Price Daily Daily Bid Point $/MMBtu...

Damage by 'Katrina the Great' dwarfs even 'Ivan the Terrible'.
September 12, 2005... Hurricane Katrina may have had a prettier name than 2004's Hurricane "Ivan the Terrible," but her impact certainly reflects the power of the tsarina whose name she shares. The impact of what may become known as "Katrina the Great" is proving to...

Bulls, bears see record winter gas beginning, different ending.
September 12, 2005... Bulls and bears invariably differ on their view of market direction. And though both factions now agree much higher natural gas futures are in store heading into winter, where opinions begin to diverge is on just how high prices will climb and...

Gas, crude direction hinge on tropics, storm damage reports.
September 12, 2005... Activity in the tropics combined with the release of additional Hurricane Katrina damage reports to offshore oil and gas facilities are likely to be the main drivers of this week's natural gas and crude oil futures markets, driving prices...

Pena: Katrina is a warning that must be heeded, call to action.
September 12, 2005... "Hurricane Katrina will be remembered as the turning point for the US energy industry. It should be a warning bell for the entire nation." After saying this, former Deputy Energy Secretary Emil Pena said the big question is whether anyone...

Application filed.(Late news ...)
September 12, 2005... Application filed: East Tennessee Natural Gas, a unit of Duke Energy Gas Transmission, has filed an application with the Federal Energy Regulatory Commission for approval to build a natural gas pipeline in southwestern Virginia. The 32-mile,...

Repairs being considered.(Late news ...)
September 12, 2005... Repairs being considered: Diamond Offshore said it could take up to a year to repair its rig, the Diamond Warwick, which ran aground on an island off the coast of Alabama about 66 miles from its work location during Hurricane Katrina. A company...

RFPS being filed.(Late news ...)
September 12, 2005... RFPS being filed: Public Service Company of Oklahoma and Louisiana-based Southwestern Electric Power Company will file Requests for Proposals (RFP) today with state regulators. A RFP initiates a competitive bidding process that seeks offers...

Trinidad minister says new LNG train could aid US gas crisis.
September 12, 2005... The small Caribbean nation of Trinidad & Tobago, which gained independence from British rule in 1962, has aggressively made itself the darling of world energy markets while transforming itself into not only the wealthiest nation in the...

Intrastate weekly spot prices.
September 12, 2005... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 9/6-9/12 Avg. Avg. Sep. Price Daily Deals Bid Point $/MMBtu Chg....

DOE: tight natural gas supply could force 71% price increase.
September 12, 2005... The Department of Energy predicts that tightening supplies of natural gas this winter could result in a price hike of 70% for residential consumers this winter, compared with prices last winter. Record high natural gas prices, which peaked ay...

Prices and differentials for major hubs and selected city gates.
September 12, 2005... September 12, 2005 US$/MMBtu, Volume-Weighted [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 9/5 9/6 9/7 9/8 9/9 HH-NY +0.69 +0.71 +0.52 +0.56 +0.46 HH-Chicago -1.08...

Nerc fears gas supply shortages could threaten power reliability.
September 12, 2005... The North American Electric Reliability Council (Nerc) believes the electricity industry's growing dependence on natural gas as a primary fuel for new power plants is an emerging area of concern. The supply cuts associated with Hurricane...

North American weekly gas storage.
September 12, 2005... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Sep. 2 Aug. 26 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1543 1503...

Natural gas futures.
September 12, 2005... NATURAL GAS FUTURES Trading Dates: September 6 - September 9, 2005 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume ...

Energy Policy Act nixes portion of BLM's cost-recovery efforts.
September 12, 2005... The Bureau of Land Management is being buried in paperwork. Increased drilling activity in the West has kept the agency from doing nothing more than processing permits while its other responsibilities go unattended. Nationwide, the total...

Pipeline capacity utilization.
September 12, 2005... PIPELINE CAPACITY UTILIZATION Pipeline Point Name Capacity Aug-05 Jul-05 Jun-05 Last 3 Mo Colorado Cheyenne 590,000 97% 96%...

Security, global warming boost IGCC Prospects.(CURRENT)
September 12, 2005... Global warming and energy independence could advance integrated gasification combined-cycle technology (IGCC), which converts carbon-containing material into synthetic gas, or syngas, according to a Standard & Poor's (S&P) analyst. For...

Power generation falls in storm's wake.(CURRENT)
September 12, 2005... Analysts say that until the dust settles, actual power demand destruction related to Hurricane Katrina will not be known. However, natural gas may not be the only tight fuel because of the hurricane, and a solar storm that threatens to hamper...

Calpine, Bear Stearns ink deal; merchants moving out of morass.(CURRENT)
September 12, 2005... Former merchants from Enron's heyday continue efforts to strengthen their business, as seen last week when Calpine and investment firm Bear Stearns said they will team up in a marketing and trading joint venture. Bear Stearns will wholly...

Appeals court nixes California refunds.(CURRENT)
September 12, 2005... The US 9th Circuit Court of Appeals in San Francisco ruled last week that federal regulators couldn't order government-owned utilities to make refunds to the state with regard to California's 2000-01 electricity crisis. The appeals court...

Spot electricity trading.(CURRENT)
September 12, 2005... SPOT ELECTRICITY TRADING Trading Dates: September 6-September 9, 2005 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT...

Coal shipment sent to Tampa Electric.(CURRENT)
September 12, 2005... TECO Transport has resumed coal deliveries to Tampa Electric. About 23,000 tons of coal, were set for delivery on Friday to Tampa Electric via the Gulf of Mexico. Services for other customers are resuming as circumstances permit. At the...

Comparative fuel prices.(CURRENT)
September 12, 2005... COMPARATIVE FUEL PRICES (Cash Market) September 12, 2005 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $57.00/ton $11.64/MMBtu $2.38/MMBtu EAST COAST New York ...

Cheniere Energy launches LNG Gateway Program in US market.(Regional Market Roundup)
September 12, 2005... Houston-based LNG terminal developer Cheniere Energy early last week launched its North American LNG Gateway Program, a platform for global suppliers to sell LNG cargoes to Cheniere beginning in 2008. The program will be administered by the...

Baker hughes rig count.(Regional Market Roundup)
September 12, 2005... [ILLUSTRATION OMITTED] BAKER HUGHES RIG COUNT Week Ended Sep. 9 Rotary Rigs Current Previous Year Week Week Ago Total US 1,441 1,447...

Gas price trends.(Regional Market Roundup)
September 12, 2005... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO South North Sep 12, 2005 Inter (well) - - 8.57 8.42 ...

Penn West eyes boosting natural gas production through farm-ins.(Canadian Markets)
September 12, 2005... Calgary-based Energy Trust Penn West has completed the second half of its two-part growth strategy by announcing a plan last week to farm out more than 1,235,000 acres (500,000 hectares) of undeveloped land in Western Canada, which will not...

Egyptian LNG Train 2 production starting well ahead of schedule.(World Roundup)
September 12, 2005... The UK's BG has started production ahead of schedule at the second train of the Egyptian LNG (ELNG) venture that it co-owns with Malaysia's Petronas and Egyptian state companies. All output from the 3.6 million ton per year train, initially...

Canadian price report.(World Roundup)
September 12, 2005... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas Eastport...

Storage blindsided by Katrina, but demand is slipping as well.
September 12, 2005... With major natural gas processing plants out of commission for three to six months and a still sketchy view of the overall damage to production infrastructure, it is highly likely that at least 3 Bcf/d of natural gas production may be lost for...

Natural gas weekly spot prices.
September 19, 2005... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 9/13-9/19 Avg. Avg. Sep. Price Daily Daily Bid Point $/MMBtu Chg....

Spills and logistics complicate Gulf Coast restoration efforts.
September 19, 2005... Oil and product spills and difficult logistics are complicating efforts to assess damage and proceed with restoration of the Dynegy-operated natural gas processing plant at Venice, Louisiana, following the passage of Hurricane Katrina, Dynegy...

Katrina puts key Louisiana port of Venice out of commission.
September 19, 2005... Hurricane Katrina has dealt a crippling blow to the lifeline between the onshore support faculties in Louisiana and the Gulf of Mexico energy industry. It's only now, more than two weeks after the monster storm hit the Gulf Coast, that the...

Market sentiment shifts as bears gain ground; storage fears ease.
September 19, 2005... With the onset of lower shoulder-season demand, coupled with fading uncertainty over lost Gulf production, gas and crude oil prices appear to be showing signs of more downside to come. [GRAPHIC OMITTED] "A majority of the problems with...

Gulf data shows improvement; alternatives for shut-in gas seen.
September 19, 2005... While most of the Gulf's natural gas infrastructure was impacted in some way by Hurricane Katrina, most losses in production flows and nomination were focused on El Paso assets, including Southern Natural Gas (Sonat), ANR and Tennessee Gas...

Action demanded.(Late news ...)
September 19, 2005... Action demanded: The American Chemistry Council (ACC)--representing industrial chemical makers who depend on natural gas--called for a national initiative to curb natural gas consumption. "It's becoming clearer and clearer that unless decisive...

Sale completed.(Late news ...)
September 19, 2005... Sale completed: San Diego-based Sempra Energy has announced that the $250 million sale of a subsidiary to Plains All American Pipeline has been completed. The subsidiary, Energy Center Investments, has two primary assets--Bluewater Gas Storage...

FERC OKs project.(Late news ...)
September 19, 2005... FERC OKs project: The Federal Energy Regulatory Commission has approved plans for a 22-mile 540MW high-voltage, direct-current transmission line beneath the Strait of Juan de Fuca linking the power grids in Washington state and British...

Katrina damage forces companies to lower production forecasts.
September 19, 2005... The long-range impact of Hurricane Katrina is slowly emerging as three independents last week announced they were lowering their 2005 production forecasts because of the giant storm. And two of the majors said it would be months before...

Intrastate weekly spot prices.
September 19, 2005... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 9/13-9/19 Avg. Avg. Sep. Price Daily Daily Bid Point $/MMBtu Chg. High...

Washington frets over high gas prices, but finds few solutions.
September 19, 2005... Concerns are growing in Washington, D.C., that the nation could face a crisis this winter as a result of natural gas prices that are double last year's prices. Energy Secretary Samuel Bodman, backed by private sector experience in the...

Prices and differentials for major hubs and selected city gates.
September 19, 2005... [ILLUSTRATION OMITTED] September 19, 2005 US$/MMBtu, Volume-Weighted SELECTED DAILY DIFFERENTIALS Differential 9/12 9/13 9/14 9/15 9/16 HH-NY +0.88 +1.03 +1.18 +1.13 +0.88 HH-Chicago -0.54...

Duke drops national merchant business; risk said too great.
September 19, 2005... Duke Energy last week decided that its merchant energy unit, Duke Energy North America (DENA) was not going to get out of the red and the time had come to cut its losses, estimated as high as $185 million for 2005. Consequently, North...

North American weekly gas storage.
September 19, 2005... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Sep. 9 Sep. 2 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1601 1543 ...

Spinnaker sale rumored; complex Forest Oil-Mariner deal in works.
September 19, 2005... Shares of Spinnaker Exploration jumped about 10% late last week on rumors that the Gulf of Mexico producer may be bought. It was the second major announcement regarding Gulf properties last week. European oil companies Statoil and Norsk...