Natural Gas Week articles from September 2006

Natural Gas Week archives from September 2006

Natural gas weekly spot prices.
September 4, 2006... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 8/29-9/4 Avg. Avg. Sep. Price Daily Daily Bid Point $/MMBtu Chg. High...

Smoking gun? Price spikes focus heat on hedge funds, speculators.
September 4, 2006... Just how much influence deep-pocketed speculators and hedge funds exert over energy futures prices and volatility has sparked its share of heated debates. And it's a controversy recently reignited by some recent market-moving events attributed...

FBI raids on lawmakers' offices could stymie Alaska gas pipeline.
September 4, 2006... Federal agents raided the offices of six Alaska legislators late last week in search of documents showing that lawmakers accepted payments from the oil field services company Veco. No arrests were made but FBI agents hauled documents out of...

Gas toast if fundamentals hold sway; but rally likely nonetheless.
September 4, 2006... In the face of overwhelming bearish fundamentals, Nymex October gas futures appear poised for additional weakness this week. However, with traders taking on increasingly large short positions, it's just as likely that prices could spike in a...

LNG industry facing legislative threat from California lawmakers.
September 4, 2006... Like its counterpart in the Eastern US, the LNG industry along the West Coast is facing more legislative hurdles that could affect future developments. The latest legislative battleground is the California State Assembly and SB426, a bill...

Red tape slowing review process holds up Mackenzie gas pipeline.
September 4, 2006... Bureaucratic red tape is holding up a proposal to tap Canada's massive Arctic natural gas reserves, prompting government officials to call for streamlining the regulatory process. The US$6.7 billion Mackenzie Gas Project would supply 1.2...

Human element still the key to industry's technological advance.
September 4, 2006... Technology won't be the hurdle that will keep advances in the energy industry such as the intelligent or digital oilfield from coming to pass. "It's the human element," said Murthy Divakaruni, a senior official with Houston-based Larsen &...

Anadarko reports first strike at gulf's Keathley Canyon bloc.
September 4, 2006... Anadarko Petroleum reported last week that it had made an oil discovery at its Kaskida prospect, about 250 miles southwest of New Orleans in the Gulfs Lower Tertiary. The well, sitting in 5,860 feet of water, with a total depth of 32,500 feet,...

South Louisiana properties put into play during hot sales week.
September 4, 2006... South Louisiana properties have become a hot commodity over the past several days, with more than $500 million being paid for leases across the Bayou State and off its coast. The latest was Tuesday's announcement by Houston-based Cabot Oil...

First phase of Dominion utility transition seen as clear success.
September 4, 2006... Dominion East of Ohio (DEO) wants out of the natural gas supply business. Last week, the affiliate of Dominion Resources embarked on the first phase of an experimental project to shift away from supplying natural gas to customers and...

Trade group calls for increase in domestic gas, oil production.
September 4, 2006... High energy costs are cutting into workers' wages, says a National Association of Manufacturers (NAM) report, prompting the trade group to step up calls for a far-reaching US energy strategy. For starters, NAM President John Engler wants...

Bill sets limits.(Late news)
September 4, 2006... Bill sets limits: Generating plants used for baseload in California may soon have greenhouse gas emissions limits if a bill approved by the state lawmakers gets signed into law. The Greenhouse Gas Emissions Performance Standard Act (Senate Bill...

Project approved.(Late news)
September 4, 2006... Project approved: Excelerate Energy's Teesside Gas-Port Project in northeast England has received full planning permission from its two UK local authorities--Stockton-on-Tees, and Redcar & Cleveland borough councils--only two months after the...

Drillship ordered.(Late news)
September 4, 2006... Drillship ordered: Houston-based Transocean has announced it has received a five-year contract worth up to $862 million to build a drillship for Chevron. Company officials said the ship will be modeled on Transocean's Enterprise-class drillship...

Intrastate weekly spot prices.
September 4, 2006... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 8/29-9/4 Avg. Avg. Sep. Price Daily Daily Bid Point $/MMBtu Chg. High Low...

Prices and differentials for major hubs and selected city gates.
September 4, 2006... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES September 4, 2006 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 8/28 8/29 8/30 8/31 9/1 HH-NY ...

Composite spot wellhead price.
September 4, 2006... COMPOSITE SPOT WELLHEAD PRICE January 2002 to Present ($/MMBtu) Year Jan. Feb. March April May June July August Sept. Oct. 2006 8.20 7.30 6.47 6.61 5.93 6.04 5.93 7.11 2005 6.05 5.99 6.77 6.99...

Composite spot delivered-to-pipeline price.
September 4, 2006... COMPOSITE SPOT DELIVERED-TO-PIPELINE PRICE January 2002 to Present ($/MMBtu) Year Jan. Feb. March April May June July August Sept. Oct. 2006 8.28 7.55 6.69 6.77 5.99 6.14 6.15 7.28 2005 6.94 6.17 6.98...

Natural gas futures.
September 4, 2006... NATURAL GAS FUTURES Trading Dates: August 28-September 1, 2006 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last...

North American weekly gas storage.
September 4, 2006... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Aug. 25 Aug. 18 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1673 ...

Natural gas bidweek prices.
September 4, 2006... NATURAL GAS BIDWEEK PRICES Flow Dates: 9/1-9/30 September Chg. Prev. Price Avg. from Bid- Point $/MMBtu Prev....

Citygate prices.
September 4, 2006... CITYGATE PRICES September Chg. Prev. Price Avg. from Bid- Point $/MMBtu Prev. High Low Vol. Deals Week Austin, Tx....

NGW's monthly weighted averages.
September 4, 2006... NGW'S MONTHLY WEIGHTED AVERAGES $/MMBlu Price Point Aug-06 Jul-06 Jun-06 May-06 Apr-06 Mar-06 Gulf Coast ANR SE 7.25 5.85 6.19 6.15 6.94 6.66 Col. Gulf-Erath 7.20 5.96 ...

RGGI impact has power industry scrambling.(CURRENT)
September 4, 2006... The cheapest strategy for compliance in any carbon emissions reduction program might well be for a generator to move the offending plants to a non-participating state, and sell the offensive electricity to someone else. With the...

TXU aims to stay step ahead of politicos.(CURRENT)
September 4, 2006... A politician who lately has served as one of Dallas-based TXU's most vocal detractors, Chris Bell, has been only too happy to get the word out about TXU's preferential treatment in getting 11 new coal plants fast-tracked. He, however, notably...

Gas-heavy Texas utility TXU to seek huge jump in nuke capacity.(CURRENT)
September 4, 2006... Dallas-based investor-owned utility TXU, embattled over rate hikes and proposed brownfield coal plants (see pl2), last week announced plans to apply for construction and operating licenses for new nuclear-fueled generation at one to three...

Arnold, top dems hatch emissions plan.(CURRENT)
September 4, 2006... While seven states have banded together to form cap-and-trade program for carbon dioxide reduction (see p12), California needed only its legislators--and a little muscle from Gov. Arnold Schwarzenegger--to agree to a plan to cut greenhouse...

Reliant to refund $25 to customers.(CURRENT)
September 4, 2006... Houston's Reliant, fresh off an 18% rate hike for the year that ended in May--and a year after settling with the Federal Energy Regulatory Commission for $460 million for its role in the California energy crisis--will be issuing a $25 refund to...

Pennsylvania ups renewable power buy.(CURRENT)
September 4, 2006... The commonwealth of Pennsylvania has doubled an existing contract with Community Energy to purchase 20%, or 200,000 MWh, of its annual power needs from renewable sources such as wind and hydropower. Last week, Gov. Edward G. Rendell...

Spot electricity trading.(CURRENT)
September 4, 2006... SPOT ELECTRICITY TRADING Trading Dates: August 28-September 1, 2006 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Comparative fuel prices.(CURRENT)
September 4, 2006... COMPARATIVE FUEL PRICES (Cash Market) September 4, 2006 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $46.50/ton $6.16/MMBtu $1.94/MMBtu EAST COAST...

Kinder Morgan accepts merger agreement; plans to go private.(Regional Market Roundup)
September 4, 2006... Midstream giant Kinder Morgan (KMI) has signed a definitive agreement to merge with an investor group led by Chairman and Chief Executive Richard D. Kinder that takes the company private in a transaction valued at $22 billion, including $7...

Baker Hughes rig count.(Regional Market Roundup)
September 4, 2006... BAKER HUGHES RIG COUNT Week Ended Sep. 1 Rotary Rigs Current Previous Year Week Week Ago Total US 1,732 1,756 1,447 Land ...

Gas price trends.(Regional Market Roundup)
September 4, 2006... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO TEXAS Gulf Coast Gulf Coast ...

Deep Panuke being scaled back as EnCana pushes project ahead.(Canadian Markets)
September 4, 2006... EnCana, the Calgary-based super independent, is proceeding with development plans for the Deep Panuke gas discovery off Nova Scotia in Atlantic Canada, but the project has been downsized from the previous design, the company said in a...

Equatorial Guinea selects train 1 supply; Bechtel gets train 2 work.(World Roundup)
September 4, 2006... Equatorial Guinea has taken a decisive step toward the regional gas hub status it has been seeking for the past couple years. The country's first liquefaction train--a 450 million cubic foot per day facility owned by project operator US...

Suez LNG terminal in Chile progressing.(World Roundup)
September 4, 2006... Chile's efforts to loosen its dependency on neighboring Argentina for gas imports are proceeding. French Suez and Chile's energy company Gasatacama look set to sign a memorandum of understanding this week for construction of an LNG receiving...

Canadian price report.(World Roundup)
September 4, 2006... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA ALBERTA Huntingdon/ Kingsgate/ Total Sumas...

Analysts climbing out on limb predicting storage refill finale.
September 4, 2006... Enough demand is hiding in the weeds that its imminent resurgence is going to hold the average weekly storage build around 48 billion cubic feet through the end of October, according to Raymond James & Associates. Now that is one bold...

Gas price report.
September 4, 2006... GAS PRICE REPORT ($/MMBtu--Spot) September 4, 2006 Interstate Intrastate Delivered Delivered Wellhead Wellhead To Pipeline To Utility Bid Bid Bid...

Natural gas weekly spot prices.
September 11, 2006... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 9/5-9/11 Avg. Avg. Sep. Price Daily Daily Bid Point $/MMBtu Chg....

Recession: signals are flashing, but NatGas market impact unclear.
September 11, 2006... With a number of economic indicators pointing toward a slowing down of the economy, many economists are conjecturing when the official word is to be released that we are in economic recession. But what effect, if any, would a recession have on...

Year later: energy industry just getting a handle on destruction.
September 11, 2006... The sounds of howling winds and crashing waves that heralded the arrival of hurricanes Katrina and Rita have been replaced a year later by the sounds of heavy equipment, hammers and welders as the Gulf Coast energy industry continues repairs at...

Look out below! Gas bears latch on to brimming storage, weather.
September 11, 2006... Considering the absence of any real demand--not to mention the dearth of tropical activity that has shaken most of the hurricane premium out of gas futures prices--traders looking for any upside in gas prices don't have much to stand on these...

Murkowski done; Election defeat, FBI probe sink pipe contract talks.
September 11, 2006... Alaska Gov. Frank Murkowski has thrown in the towel on efforts to ink a deal with the state's three biggest oil companies for a natural gas pipeline. Murkowski's crushing defeat in last month's Republican primary and the recent invasion of...

BP scolded by Congress for poor pipeline maintenance in Alaska.
September 11, 2006... BP executives came under heavy fire last week from angry lawmakers demanding to know how the London-based supermajor could allow pipelines responsible for carrying 8% of US domestic supply to deteriorate to the point of failure at a time of...

Canadian attorney: US should be cautious in dealing with Russia.
September 11, 2006... A Canadian attorney on a recent visit to Houston had this advice for the US and for any US-based company that is considering dealing with Russia in energy deals--be careful. "The Kremlin's use of energy as a political weapon is nothing...

Optionable's Opex trading site reports brisk, successful launch.
September 11, 2006... Optionable, a leading provider of natural gas and other energy derivatives brokerage services, says it has reported a stellar first month for its proprietary Opex trading platform. Opex, short for Options Exchange, operates as a real-time...

Find bolsters case for lifting offshore drilling bans in Gulf.
September 11, 2006... The new Gulf of Mexico oil discovery couldn't have come at a more opportune time for drilling proponents in Congress. Key Republicans in the Senate and House of Representatives are using the discovery to press for enacting legislation to expand...

Contract landed.(Late news)
September 11, 2006... Contract landed: Officials with Norway's Seadrill have announced that the company has landed a letter of intent by a Gulf of Mexico operator, which will see the semi-submersible drilling rig West Sirius earn at least $690 million over four...

Plans OK'd.(Late news)
September 11, 2006... Plans OK'd: The Federal Trade Commission has approved plans by Kinder Morgan to sell its natural gas retail distribution operations to GE Energy Financial Services, a division of General Electric, in a deal valued at $710 million. Kinder...

Test suspended.(Late news)
September 11, 2006... Test suspended: Particle Drilling Technologies has suspended the second commercial trial of its new drilling system in Utah's Uinta Basin. The suspension was ordered after the frac pump used for transmission failed, the company said. Repairs to...

Intrastate weekly spot prices.
September 11, 2006... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 9/5-9/11 Avg. Avg. Sep. Price Daily Daily Bid Point $/MMBtu Chg. High Low...

Prices and differentials for major hubs and selected city gates.
September 11, 2006... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES September 11, 2006 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 9/4 9/5 9/6 9/7 9/8 HH-NY ...

North American weekly gas storage.
September 11, 2006... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Sep. 1 Aug. 25 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1716 ...

Natural gas futures.
September 11, 2006... NATURAL GAS FUTURES Trading Dates: September 4-September 8, 2006 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last ...

Pipeline capacity utilization.
September 11, 2006... PIPELINE CAPACITY UTILIZATION September September (2006) (2005) Location FlowDate Flow Month-to-Date Month-to-Date ...

Battery system offers wind firmer scheduling.(CURRENT)
September 11, 2006... Those hoping for sanity in the real-time power markets say they find little solace in wind generation, given its mercurial nature. "It's the tail wagging the dog," said one employee with a California control area that manages wind...

PJM files 2005 demand response report showing marked progress.(CURRENT)
September 11, 2006... PJM has submitted its latest annual report on its demand response to the Federal Energy Regulatory Commission. PJM, the independent system operator for Pennsylvania, New Jersey and Maryland, reports that the level of load reductions more than...

SCPPA soliciting bids for renewables.(CURRENT)
September 11, 2006... Southern California Public Power Authority (SCPPA) is requesting bids for 300 megawatts in renewable energy. SCPPA seeks, in addition to MWs, the renewable energy credits, air emission credits or offsets, and any greenhouse gas credits, in...

Biomass projects get monetary push.(CURRENT)
September 11, 2006... Three states--Illinois, Washington and Wisconsin--have awarded nearly $33 million in biomass energy grants and loans. The governor of each of the three states was likely mindful of the Department of Energy's recent focus on funding biofuel...

AGL files suit against Louisiana in NatGas storage project dispute.(Regional Market Roundup)
September 11, 2006... Jefferson Island Storage & Hub, a subsidiary of AGL Resources, filed suit against the state of Louisiana last week to maintain its lease at Lake Peigneur to complete an ongoing natural gas storage expansion project. The company filed the...

Spot electricity trading.(CURRENT)
September 11, 2006... SPOT ELECTRICITY TRADING Trading Dates: September 5-September 8, 2006 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Comparative fuel prices.(CURRENT)
September 11, 2006... COMPARATIVE FUEL PRICES (Cash Market) September 11, 2006 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $46.25/ton $5.63/MMBtu $1.93/MMBtu EAST COAST...

Baker Hughes rig count.(Regional Market Roundup)
September 11, 2006... BAKER HUGHES RIG COUNT Week Ended Sep. 8 Rotary Rigs Current Previous Year Week Week Ago Total US 1,728 1,732 1,441 Land ...

Gas price trends.(Regional Market Roundup)
September 11, 2006... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO TEXAS Gulf Coast Gulf Coast South...

Talisman ramps up on home turf; Targets Foothills-Deep Basin plays.(Canadian Markets)
September 11, 2006... Expansions into the North Sea and other international arenas don't mean Calgary-based Talisman Energy is neglecting opportunities in its Canadian home. The company already is one of the largest operators in the Foothills-Deep Basin trend in the...

India's Dabhol in double trouble as naphtha, NatGas prices soar.(World Roundup)
September 11, 2006... Dabhol power project in the western Indian state of Maharashtra is turning out to be a nonstarter yet again. Despite the former Enron plant now belonging to Indian state companies, it still cannot viably generate and sell power in India using...

Qatar Petroleum wins LNG award 2006.(World Roundup)
September 11, 2006... Early next decade, state Qatar Petroleum (QP) is likely to find itself with a majority stake in no less than 10 billion cubic feet per day of liquefaction capacity, with Qatar having in the latter years of this decade taken over the top slot...

Winter prices just more evidence they are boiling us like frogs.
September 11, 2006... If you want to boil a frog without it jumping out of the pot, you have to put it in cool water and slowly turn up the heat. When it comes to energy prices, we're all being boiled like frogs--so acclimated to excessive price levels that you...

Canadian price report.(World Roundup)
September 11, 2006... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ ALBERTA Total Sumas ...

Gas price report.
September 11, 2006... GAS PRICE REPORT ($/MMBtu--Spot) September 11, 2006 Interstate Intrastate Delivered Delivered Wellhead Wellhead To Pipeline To Utility Bid...

Natural gas weekly spot prices.
September 18, 2006... NATURAL GAS WEEKLY SPOT PRICES Flow Dates:9/12-9/18 Price Point $/MMBtu Chg. High Low Avg. Avg. Sep. Daily Daily Bid ...

BLM, greens embroiled in fight over opening fragile Otero Mesa.
September 18, 2006... The Bureau of Land Management is again mired in accusations of violating environmental laws and mismanagement. Earlier this month, conservation groups and members of New Mexico Gov. Bill Richardson's cabinet questioned the BLM's land-use...

Severity of winter weather only support left for natural gas bulls.
September 18, 2006... Will it be colder than normal this winter or warmer than normal? How's that developing El Nino going to affect heating loads? Just where will winter prices be when we finally get there? You'd need a working crystal ball to know for sure, but...

Gas market primed to hit brakes; October contract's slide limited.
September 18, 2006... With last week's storage report catching gas traders flatfooted, the Nymex October gas futures contract fell below $5/MMBtu, an event not seen since late September 2004. But despite the fact that more bearish fundamentals loom, it's improbable...

Energy Transfer expands beyond Texas, buys Transwestern system.
September 18, 2006... Not a company to sit too still for too long, Energy Transfer Partners (ETP) said Friday it has struck a deal with GE and Southern Union to acquire the Transwestern Pipeline. Through a series of complex transactions with GE subsidiary GE...

Negotiations continue.(Late news ...)
September 18, 2006... Negotiations continue: Senior Interior Department officials report that the federal government is nearing an agreement with BP and Shell Oil to recoup some of nearly $10 billion in lost royalty revenue from improperly prepared oil and gas...

Merger called off.(Late news ...)
September 18, 2006... Merger called off: Exelon has pulled out of its embattled, proposed merger announced almost two years ago with Newark's Public Service Enterprise Group. The last regulatory hurdle was with the New Jersey Board of Public Utilities. The utility...

Upgrade planned.(Late news ...)
September 18, 2006... Upgrade planned: Four utilities involved with the Colstrip Project 500 kilovolt transmission lines have signed an agreement to develop upgrades to the system, which is part of North Western Energy's transmission system. The four...

Alaska lame-duck governor still flying high on natgas contract.
September 18, 2006... News of his capitulation was apparently premature, as Alaska's lame-duck governor now says he is pressing on with efforts to complete fiscal terms for a natural gas pipeline project with three of the state's biggest oil companies, despite...

Abraham to industry: enjoy good times now, but watch your back.
September 18, 2006... Though the US energy industry is enjoying a comfortable time now, there are storm clouds and new challenges on the horizon that it can't ignore. "It's those challenges that worries me," former Secretary of Energy Spencer Abraham told the...

Intrastate weekly spot prices.
September 18, 2006... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 9/12-9/18 Price Point $/MMBtu Chg. High Low Avg. Avg. Sep. Daily Daily Bid ...

Prices and differentials for major hubs and selected city gates.
September 18, 2006... September 18, 2006 US$/MMBtu, Volume-Weighted [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 9/11 9/12 9/13 9/14 9/15 HH-NY +0.51 +0.38 +0.27 +0.25 +0.24 HH-Chicago +0.12...