Natural Gas Week articles from September 2007

Natural Gas Week archives from September 2007

Natural gas weekly spot prices.
September 3, 2007... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 8/28-9/3 Avg. Avg. Sep Price Daily Daily Bid Point $/MMBtu Chg. High Low ...

Sage grouse protection becoming BLM priority; energy E&P pressured.
September 3, 2007... A series of recent reports by researchers, partially funded by federal agencies, are creating a damning picture for oil and gas projects in Wyoming and Montana, and as a result, the government is stepping back and eyeing new tactics for energy...

Two-fer: trader-meteorologists hot commodity on trading desks.
September 3, 2007... In the world of energy trading, particularly in natural gas, crunching weather forecast numbers minutes or seconds faster than the competition can save fortunes. So it's hardly coincidental that energy companies and trading firms are not...

Fundamentals waylay October gas ahead of long holiday weekend.
September 3, 2007... While Nymex September gas futures fell toward lower territory at expiry, October gas initially found some legs late last week amid concerns of tropical developments over the three-day weekend. But three-day weekend. But prices collapsed again...

ANR restricting gas injections as storage caverns nearing capacity.
September 3, 2007... Saying its storage caverns were starting to fill, ANR Pipeline became the first major storage operator in the eastern US to put producers and marketers on notice that it is restricting storage injections. The US storage juggernaut has...

Greens swarm Mackenzie Valley project.
September 3, 2007... Several major environmental groups have put the proposed Mackenzie Valley natural gas pipeline project square in its sights and opened fire this week. Officials with the World Wildlife Fund, the Canadian Arctic Resources Committee,...

Major pipeline projects to move Texas, Colorado constrained gas.
September 3, 2007... Natural gas being produced in the Rockies and the Barnett Shale will now have a better chance of getting to markets, thanks to two new pipeline projects unveiled last week. The first was a joint announcement by Questar Pipeline and an...

Correction.(Correction notice)
September 3, 2007... In the Aug. 27 issue of Natural Gas Week, Warburg Pincus Managing Director Jeffrey Harris was misidentified in the Laredo Petroleum profile.

Intrastate weekly spot prices.
September 3, 2007... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 8/28-9/3 Price Point $/MMBtu Chg. High Low Avg. Daily Vol. Louisiana Intras -- -- -- -- -- Oklahoma Intras 5.20 -0.34...

US LNG imports set record in August; September looks strong.
September 3, 2007... US imports of LNG continued at a record pace during August, with all five receiving facilities often operating near capacity, according to reports by Tudor Pickering Securities. In the firm's Friday survey, analyst Stacy Nieuwoudt said...

Prices and differentials for major hubs and selected city gates.
September 3, 2007... [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 8/27 8/28 8/29 8/30 8/31 HH-NY +0.52 +0.51 +0.53 +0.48 +0.31 HH-Chicago -0.07 -0.04 -0.02 -0.10 -0.22 AECO-CHIC +1.14 +1.19 +1.26...

Clouds over trinidad: LNG Island paradise experiences rough patch.
September 3, 2007... Not so long ago, Trinidad and Tobago was seen as an LNG industry pacesetter, as not only its location but also the flexible ownership and sales structure of its four Atlantic LNG (ALNG) trains and its low initial cost base left it uniquely...

Nymex mulls headquarters move both wall street, new jersey eyed.
September 3, 2007... The New York Mercantile Exchange (Nymex) recently announced that it may be looking to sell its headquarters on One North End Avenue. Nymex Holdings, parent company of Nymex, confirmed that it has put itself up for sale. It also said it has...

Houston-based SolArc helping bridge it gap for energy firms.(Company overview)
September 3, 2007... Like ocean waves, the good news for Houston-based SolArc just keeps rolling in. Over the past several weeks, the independent IT--information technology--company has landed contracts with Westport Petroleum and Gaselys to provide software...

North American weekly gas storage.
September 3, 2007... NORTHAMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Region Aug. 24 Week Aug. 17 Week Weekly Change US East 1657 1613 44 West 410 409...

Natural gas bidweek prices.
September 3, 2007... NATURAL GAS BIDWEEK PRICES Flow Dates: 9/1-9/3 Price Point september Avg. $/MMBtu Chg. from Prev. High GULF COAST ANR SE 5.37 -0.66 5.38 Col. Gulf -Erath ...

Expansion costs push cheniere energy into second-quarter loss.
September 3, 2007... Higher costs associated with expanding its business helped push Houston-based Cheniere to report a loss in the second quarter. This was reported as the company continued construction of its Sabine Pass LNG import terminal. Cheniere...

NGW'S monthly weighted averages.
September 3, 2007... NGW'S MONTHLY WEIGHTED AVERAGES Price Point Aug-07 Jul-07 Jun-07 May-07 Gulf Coast ANR SE 6.28 6.22 7.37 7.63 Col. Gulf-Erath 6.26 6.14 7.36 7.59 Col....

Pac NW power pricing no reflection on natgas.(CURRENT)
September 3, 2007... In light of burgeoning regional natural gas storage fields, coupled with cool, wet weather throughout the Pacific Northwest, it's almost shocking that power prices are no cheaper than they are. Last week, hydro-benefiting rain fell in the...

Hit by heat wave, California declares emergency; prices pop.(CURRENT)
September 3, 2007... No doubt every operable natural gas unit in and around California was cranked up during last week's heat wave, as the state declared a Stage 1 emergency Wednesday--the least severe, meaning the state's operating reserves dipped below 7%. ...

Browns Ferry nukes finally hit capacity.(CURRENT)
September 3, 2007... Late last week, the three units at Tennessee Valley Authority's (TVA) beleaguered Browns Ferry nuclear plant in Alabama were at full power, the US Nuclear Regulatory Commission reported. Recently, the three units were reduced by at least...

Aquila inching closer to 2008 buyout.(CURRENT)
September 3, 2007... Utilities Great Plains Energy and Black Hills' proposed buyout of Kansas City-based Aquila, which operates electric and natural gas utilities in Missouri, Colorado, Iowa, Nebraska and Kansas, has been cleared for takeoff by the feds. The...

Calpine revises bankruptcy reorg plan.(CURRENT)
September 3, 2007... Independent power producer has filed a revised reorganization plan to exit bankruptcy. The company put its plan, initially released Jun. 20, on hold in July, and says the revision would provide "greater recovery value for our...

Spot Electricity trading.(CURRENT)
September 3, 2007... SPOT ELECTRICITY TRADING Trading Dates: August 27-August 31, 2007 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Comparative fuel prices.(CURRENT)
September 3, 2007... COMPARATIVE FUEL PRICES (Cash Market) September 3, 2007 APPALACHIA Appalachian Pool Dlvd ((Uil) $5.71/MMB EAST COAST New York City Gate Heating--R No. 2*...

ETP, Amaranth challenge FERC over price enforcement rulings.(Regional Market Roundup)
September 3, 2007... Energy Transfer Partners (ETP) has asked a federal district court to hear allegations by the Federal Energy Regulatory Commission that the company manipulated natural gas prices in the Houston Ship Channel. Amaranth Advisors has similarly...

Triangle testing canadian shale play using lessons gained in US.(Canadian Markets)
September 3, 2007... Calgary-based Triangle Petroleum is hoping that knowledge it has garnered participating in shale gas plays in the US will transfer to extensive acreage it has acquired in the Canadian Maritimes, Triangle President and Chief Executive Mark...

Myanmar mulling LNG project if offshore natgas reserves grow.(World Roundup)
September 3, 2007... Myanmar is eyeing the development of an LNG liquefaction project sourced from its offshore Block M9 if more gas is found, an energy ministry official said last week. Preliminary estimates by Block M9 operator Thailand's PTT Exploration and...

Japan's Marubeni buys stake in peru LNG.(World Roundup)
September 3, 2007... Japanese trading house Marubeni has bought a 10% stake in Peru LNG from South Korea's SK Energy for $100 million. The Peru project, scheduled to come on line in 2010, gives Japan another gas source of natural gas and has a "geographical...

Transredes to invest in Bolivian pipes.(World Roundup)
September 3, 2007... Bolivian natural gas transport company Transredes will invest more than $1 billion to develop pipelines and infrastructure in the South American country over the next three years, the firm's president said. In an interview with Reuters,...

Canadian price report.(World Roundup)
September 3, 2007... CANADIAN PRICE REPORT BRITISH COLUMBIA Total Huntingdon/Sumas Kingsgate/Eastport Province Border Border Spot Spot ...

Hydrates: USGS Arctic research holds promise of gas production.
September 3, 2007... The success of North American shale gas plays proves that the once impossible can suddenly become merely unconventional. And as anyone familiar with the North Texas and Rockies E&P boom can attest, "unconventional" often designates a prolific...

Natural gas weekly spot prices.
September 10, 2007... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 9/4-9/10 Avg. Avg. Sep. Price Daily Daily Bid Point $/MMBtu Chg. High Low ...

Weak gas prices prompt producers to rethink their drilling strategies.
September 10, 2007... North American producers have started rethinking their upstream strategies as a result of Henry Hub gas futures continuing to trade under $6/MMBtu. A handful of major gas producers have begun keeping some of their gas in the ground,...

Hot week in Energy A&D activity; onshore, offshore assets moving.
September 10, 2007... Acquisitions and divestitures were the two energy industry buzz words this past week as more than $8 billion in properties were put into play. From Houston-based Maxus Energy putting a "for sale" sign on $7.38 billion worth of its Gulf of...

Surging crude, short covering, fail to sustain October gas rally.
September 10, 2007... A surging crude contract, slowing storage injections, tropical stirrings and a major energy hedge fund calling it quits, gave an early week lift to natural gas prices. But in the final stretch, the reality of burgeoning gas inventories and the...

Alaska wrestling with yet another change to gas, oil tax structures.
September 10, 2007... Alaska Gov. Sarah Palin unveiled a plan last week to boost the state's tax rate on oil and natural gas production, saying the existing system is tainted by political corruption and has failed to work as promised. Palin's plan would combine...

Plan snubbed.(Late news ...)
September 10, 2007... Plan snubbed: Fir Tree, a major shareholder in Plains Exploration & Production, said Friday it will vote against the company's plans to buy Pogo Producing. An official with Fir Tree said the company currently owns about 9.1% of Plains shares....

Open season.(Late news ...)
September 10, 2007... Open season: Crossroads Pipeline has launched an open season for customers who want firm transportation service from any existing receipt points to any existing delivery points on its 202-mile natural gas pipeline from northern Indiana near...

Processor bought.(Late news ...)
September 10, 2007... Processor bought: Dallas-based Energy Transfer Partners said Friday it has agreed to acquire mid-stream processor Canyon Gas Resources from private-equity firm Metalmark Capital. Financial terms of the deal were not released. Canyon Gas...

Arctic gas pipes officials stay hopeful despite major setbacks.
September 10, 2007... Despite skepticism from major producers about their commercial viability, officials responsible for advancing two major Arctic natural gas pipelines remain committed to the projects, which they say would lower energy prices and enhance energy...

Intrastate weekly spot prices.
September 10, 2007... INTRASTATE WEEKLYSPOT PRICES Flow Dates: 9/4-9/10 Price $/MMBtu Chg. High Low Avg. Avg. Sep. Point Daily Daily Bid Vol. Deals...

Global task force forming to issue arctic pipeline standards.
September 10, 2007... As energy companies move into the Arctic in the search for natural gas and oil, they will be facing a series of new challenges in one of the harshest climates on the planet. In relation to pipelines, existing design may be too expensive or...

Prices and differentials for major hubs and selected city gates.
September 10, 2007... September 10, 2007 US$/MMBtu, Volume-Weighted [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 9/3 9/4 9/5 9/6 9/7 HH-NY +0.31 +0.49 +0.52 +0.49 +0.40 HH-Chicago -0.22...

Help wanted: often disastrous foreign postings eased by IAPS.
September 10, 2007... There is a catch-all phrase being used in the energy industry these days--personnel shortages--to cover everything from actual shortages of trained personnel to problems with employees. But one problem area that's no secret, but little...

North American weekly gas storage.
September 10, 2007... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Aug. Aug. Weekly Year Yr. 5-year 5-year 31 24 Ago Region Week Week Change Ago Change Average Change US...

Inergy to double NatGas storage assets in New York state market.
September 10, 2007... In a one-two punch, Inergy picked up the assets of Arlington Storage and expanded its own salt cavern storage facility near Bath, New York, at a total cost of about $164 million. By the end of the day, Kansas City, Missouri-based Inergy had...

Petsec ramps up drilling program with US Gulf Coast, China projects.
September 10, 2007... Australian independent Petsec Energy is ramping up its operations along the US Gulf Coast and in China in a broad based move to build upon an already impressive reserves growth for the past couple of years. Petsec Chief Executive Terry Fern...

Natural gas futures.
September 10, 2007... Trading Dates: September 4 - September 7, 2007 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume ...

Pipeline capacity utilization.
September 10, 2007... PIPELINE CAPACITY UTILIZATION Location FlowDate Flow Sep. (2007) Sep. (2006) Month-to-Date Month-to-Date Transco Zone 6 NY 9/5/2007 1,268,555 1,198,844 ...

Proposed Arizona plant morphs back to NatGas.(CURRENT)
September 10, 2007... Just as you might be nervous about investing in new technology--the latest flat-screen TV or that cutting-edge PDA--until the kinks have been ironed out, jumping on the latest power generation technology may be equally dodgy because you never...

Dynegy Texas coal plant indestructible.
September 10, 2007... Undaunted by court challenges, political opposition or public protest, Dynegy's plans for a coal-fired plant in the heart of Texas are not only on track, they've also received $1 billion in financing for construction, slated to begin in the...

Shareholders OK TXU buyout plan; thumbs up to take utility private.(CURRENT)
September 10, 2007... TXU shareholders on Friday approved Dallas-based TXU's $32 billion buyout by a group of private equity buyers, approved the day before by the Federal Energy Regulatory Commission. Reuters reported that 74% of the company's outstanding...

Peabody to begin building coal plant.(CURRENT)
September 10, 2007... Peabody Energy, self-billed as the world's largest privatesector coal company, said it has all major permits necessary to begin construction in October on a $2.9 billion, 1,600-MW coal-fired plant in Illinois. In August, a Chicago federal...

Spot electricity trading.(CURRENT)
September 10, 2007... SPOT ELECTRICITY TRADING Trading Dates: September 3-September 7, 2007 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Largest eastern US solar farm planned.(CURRENT)
September 10, 2007... Some energy outfits are taking the name of the FX sitcom "It's Always Sunny in Philadelphia" literally. A new solar energy power station planned for Bucks County, Pennsylvania, could be the fourth-largest facility of its kind in the...

Comparative fuel prices.(CURRENT)
September 10, 2007... COMPARATIVE FUEL PRICES (Cash Market) September 10, 2007 APPALACHIA Appalachian Ohio/Big Pool Sandy River Coal Dlvd...

Woodside clears initial hurdle; OceanWay LNG gets first permit.(Regional Market Roundup)
September 10, 2007... Woodside Petroleum's proposed OceanWay LNG receiving facility off Los Angeles took a vital step nearer to the green light after its application for a deepwater port license was formally "deemed complete" by regulatory authorities, the...

Oregon.(Regional Market Roundup)
September 10, 2007... Units of Fort Chicago, Williams Cos. and PG&E Strategic Capital are seeking Federal Energy Regulatory Commission approval to build an LNG receiving terminal near Coos Bay and an interstate natural gas pipeline to tie the LNG regas plant into...

Gulf of Mexico.(Regional Market Roundup)
September 10, 2007... Anadarko Petroleum Chairman Jim Hackett said last week that five of the 15 wells beneath the Independence Hub, the world's deepest ocean production platform, are producing about 250 million cubic feet of natural gas a day. In a...

Baker hughes rig count.(Regional Market Roundup)
September 10, 2007... [GRAPHIC OMITTED] BAKER HUGHES RIG COUNT Week Ended Sep. 7 Rotary Rigs Current Previous Year Week Week Ago Total US 1,814 1,829 1,728 ...

Wyoming.(Regional Market Roundup)
September 10, 2007... Galaxy Energy has started talks with an undisclosed, but unrelated party regarding the possible sale of some of its holdings in Wyoming's Powder River basin. The talks come right after the end of talks between Galaxy and its affiliate...

Expert picked.(Also noted:)
September 10, 2007... Expert picked: Texas A&M University professor W. John Lee has been selected by the US Securities & Exchange Commission to evaluate oil and gas reserves disclosure requirements. An SEC official said Lee also will assist the agency in evaluating...

Manager named.(Also noted:)
September 10, 2007... Manager named: Peter A. Bommer has been named special projects manager for Abraxas Petroleum. Bommer will be responsible for the engineering evaluation of potential mergers and acquisitions. He previously served as a reservoir engineer for...

Gas Price Trends.(Regional Market Roundup)
September 10, 2007... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO South North Sep 10, 2007 Inter (well) -- -- 1.43 4.89 Intra...

LNG, Gas pipeline connections boosting New England market.(Canadian Markets)
September 10, 2007... New England is moving from the least gas-intense energy market in the US to one of the fastest growing and best supplied, thanks to a significant boost in LNG deliveries to North America and connections to growing US production in the Rocky...

Repsol to supply Peruvian LNG To Mexico's Manzanillo terminal.(World Roundup)
September 10, 2007... Repsol YPF was the sole bidder last week to supply LNG to the planned Manzanillo LNG receiving terminal west of Mexico City on the Pacific coast, the Federal Electricity Commission (CFE) reported. Under the 15-year contract, Repsol would...

Indian price dispute could delay field.(World Roundup)
September 10, 2007... India's Reliance Industries has warned that start up of production at India's first major offshore field in the Krishna-Godavari Basin could be pushed back to mid-2010, as key lenders may quit the project unless the government sets a gas price...

Nigerian gas projects behind schedule.(World Roundup)
September 10, 2007... Two big Nigerian gas projects led by US major Chevron are running about a year behind schedule. The Escravos gas-to-liquids project in the western Niger Delta region now won't be completed until 2010 at the earliest. However, the West...

Canadian price Report.(World Roundup)
September 10, 2007... CANADIANPRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Total Huntingdon/Sumas Kingsgate/Eastport Province Border Border Spot ...

France poised to become major player in growing US LNG Trade.
September 10, 2007... Here's a bit of news to raise the hackles of Francophobes: The French government is about to become a major player in the US natural gas market. Early last week, French state-owned Gaz de France (GDF) and Franco-Belgian Suez agreed to...

Natural gas weekly spot prices.
September 17, 2007... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 9/11-9/17 Avg. Avg. Sep. Price Daily Daily Bid Point 5/MMBtu Chg....

California green group has LNG clearwater port project in sights.
September 17, 2007... A public relations event last week by a company wanting to develop an LNG plant a little more than 12 miles off the coast of Ventura County, California, touched off a firestorm of criticism from a coalition of environmental groups. ...

Federal panel refuses to lift court injunction on Montana CBM Basin.
September 17, 2007... In a spilt decision last week, a federal court panel voted against lifting a prohibition against coalbed methane exploration and production in 93% of the Powder River Basin on the Montana side of the vast coal deposit. The three-member...

Record high crude pulls October gas contract along for the ride.
September 17, 2007... The energy gods must have pushed the stars into perfect alignment last week to create the kind of bullish storm that would send Nymex October natural gas futures muscling higher while propelling crude oil to all-time highs in a speculative...

Governors association launches nationwide clean-energy program.
September 17, 2007... The National Governors Association has proposed a series of across-the-board efforts to promote energy security and clean-energy policies across the nation. Minnesota Gov. Tim Pawlenty and Kansas Gov. Kathleen Sebelius officially launched...

Summit called.(Late news ...)
September 17, 2007... Summit called: The government of Denmark and its dependency, Greenland, are calling for a summit of the five major Arctic nations next year to discuss the rising tensions over countries claiming vast amounts of the polar region, and with it...

Layoffs begin.(Late news ...)
September 17, 2007... Layoffs begin: With a legal battle delaying its plans to drill in the Beaufort Sea until at least next year, Shell officials said they have begun laying off workers in Alaska. In a statement released to the media, Shell officials said, "Because...

LDC speaker: if NatGas is bridge fuel, then 'it is a very long bridge'.
September 17, 2007... While the race for alternative energy sources is heating up, it could be decades before these new technologies arrive in enough force to begin making a difference. Until then, natural gas will continue to be the key fuel element. Until...

Intrastate Weekly Spot Prices.
September 17, 2007... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 9/11-9/17 Avg. Avg. Sep. Price Daily Daily Bid Point $/MMBtu Chg. High...

EOG resources head says firm Growing Organically, Avoids Debt.
September 17, 2007... EOG Resources aims to spend its capital a bit more wisely than its peers in the North American E&P business and will pursue growth without resorting to dilutive share issues or taking on additional debt, its president told a gathering of...

Prices and differentials for major hubs and selected city gates.
September 17, 2007... September 17, 2007 US$/MMBtu, Volume-Weighted [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 9/10 9/11 9/12 9/13 9/14 HH-NY +0.55 +0.48 +0.41 +0.37 +0.31 HH-Chicago -0.03...

Quicksilver resources focus on Texas shale after Michigan Sale.
September 17, 2007... Quicksilver Resources is unloading low-growth natural gas properties in Michigan, a move designed to give the Fort Worth-based company more cash to grow its Barnett Shale assets in North Texas. Quicksilver said Wednesday it has struck as...

Senate panel considering higher light bulb efficiency standards.
September 17, 2007... A Senate panel last week took up bipartisan legislation that would mandate the replacement of incandescent light bulbs with more efficient alternatives. The switch could have a significant impact on electricity demand and save consumers up...