|
Low-Demand Long Weekend Depresses Cash Quotes
from NGI's Daily Gas Price Index July 06, 2009
As expected, the combination of generally light weather-based demand, further futures softness a day earlier and the extra loss of load associated with a long holiday weekend resulted in lower prices at virtually all points Thursday. Forecasts of mid 90s to 100-degree highs in the south-central U.S. and a warming trend to either side of 80 in the Midwest failed to increase cooling load enough to support the cash market.
( more )
Futures Fall Despite 'Supportive' 70 Bcf Storage Build
from NGI's Daily Gas Price Index July 06, 2009
Coming in lower than almost all industry estimates, the Energy Information Administration (EIA) reported Thursday morning that only 70 Bcf was injected into underground natural gas storage for the week ending June 26. News of the smaller-than-expected build helped boost August natural gas futures values temporarily before an afternoon plunge led the contract to close Thursday's regular session at $3.615, down 18 cents from Wednesday's close. Over the four-day workweek August futures fell 49 cents.( more )
FERC's 552 Trading Survey Nets 821 Companies, 90 Tcf in Deals
from NGI's Daily Gas Price Index July 06, 2009
The results are in from the Federal Energy Regulatory Commission's Order 552 survey of the natural gas market with 821 companies reporting by July 1 as buyers and/or sellers of spot market natural gas. A quick look at the data shows an expected heavy concentration of buy/sell volume at the top, with the top 20 largest traders accounting for more than 52 Tcf, a hefty 58% of the 90 Tcf in total volume of reportable transactions exchanged in 2008.
( more )
Jury Still Out on Gas Drilling Outlook, Say Analysts
from NGI's Daily Gas Price Index July 06, 2009
The North American rig count has picked up in recent weeks, but the gains have been nearly all to the oil side, and natural gas isn't likely to see any sustainable improvement before storage injection season is complete, according to energy analysts.( more )
DOT Proposal Would Subject LNG to Reporting Requirements
from NGI's Daily Gas Price Index July 06, 2009
The Department of Transportation (DOT) Thursday published a proposed rule that would make operators of liquefied natural gas (LNG) terminals subject to the same safety reporting requirements as operators of natural gas and hazardous liquid pipelines.
( more )
ICE, CME Group Record Different Stories on June Volumes
from NGI's Daily Gas Price Index July 06, 2009
Commodity trading exchanges are continuing to weather the 2008-2009 recession, but Atlanta-based IntercontinentalExchange (ICE), operator of regulated global futures exchanges, clearinghouses and over-the-counter (OTC) markets, recorded volume growth June-over-June while Chicago-based CME Group, which bills itself as the world's largest and most diverse derivatives exchange, reported a volume decrease, according to data provided by the rivals.( more )
Sabotage Suspected in BC Pipeline Rupture
from NGI's Daily Gas Price Index July 06, 2009
The national security team of the Royal Canadian Mounted Police (RCMP) Thursday was investigating another possible attack on an EnCana Corp. natural gas pipeline in northern British Columbia.( more )
Study: Federal Hydrofracing Regs Would Slice Gas Output
from NGI's Daily Gas Price Index July 06, 2009
Federal efforts to restrict or eliminate the hydraulic fracturing (hydrofracing) of wells would have a major toll on domestic oil and natural gas production, according to a new study commissioned by the American Petroleum Institute (API).( more )
Moody's: 'Slow, Painful' Recovery for Global Integrated Producers
from NGI's Daily Gas Price Index July 06, 2009
The global integrated oil and natural gas industry will suffer through a "slow and painful" economic recovery in 2010, with worldwide demand lower at a time when inventories are near record highs, Moody's Investors Service reported Thursday.( more )
BG Group Muscles In on Trinidad Gas Play
from NGI's Daily Gas Price Index July 06, 2009
BG Group plc has fired another warning shot at its North American competition after exercising an option to acquire a bigger stake in a prospective natural gas development offshore Trinidad. BG's offer preempts a $142.5 million cash offer by Centrica plc.( more )
Kinder Morgan, ETP File to Build Fayetteville Line
from NGI's Daily Gas Price Index July 02, 2009
Fayetteville Express Pipeline LLC (FEP) has filed an application at FERC to build a new interstate pipeline project that would provide more takeaway capacity from Arkansas' Fayetteville Shale play. Prolific production in the Fayetteville Shale, which is estimated to have natural gas potential of 20-30 Tcf, is the driver behind the pipeline project.( more )
Analysts: LNG Import Wave? Oh, Never Mind
from NGI's Daily Gas Price Index July 02, 2009
Predictions earlier this year of a flood of liquefied natural gas (LNG) that would hit U.S. shores apparently could have been uttered by Chicken Little, at least if Barclays Capital analysts are right about their expectation of relatively modest imports during the second half of 2009.( more )
Proposed Climate Bill Called Recipe for Failure
from NGI's Daily Gas Price Index July 02, 2009
The proposed American Clean Energy and Security Act, which narrowly passed the House last Friday, is a "public policy abomination" that "should be opposed by open-minded climate scientists and climate economists of all political persuasions," an executive told the Texas Energy Summit Wednesday.( more )
BP Revamps Alternatives Business But Says Strategy Unchanged
from NGI's Daily Gas Price Index July 02, 2009
BP plc remains committed to moving the company "beyond petroleum" despite a decision to downsize its alternative energy unit, company officials said this week.( more )
Fitch Downgrades DCP Midstream on Price Exposure
from NGI's Daily Gas Price Index July 02, 2009
Commodity price exposure dinged the rating on DCP Midstream LLC (DCPM) debt as Fitch Ratings downgraded the company's senior unsecured debt and Issuer Default Rating (IDR) to "BBB" from "BBB+." However, the ratings outlook was revised to "stable" from "negative."( more )
Senate Western Caucus Advocates Domestic Energy Development
from NGI's Daily Gas Price Index July 02, 2009
Eleven Republicans from western and rural states have united to form the Senate Western Caucus (SWC) to promote exploration and production of more domestic energy, including onshore and offshore oil and natural gas. "America deserves an all-of-the-above energy strategy," said Sen. John Barrasso (R-WY), caucus chairman who, along with several other Republicans, introduced comprehensive energy legislation that supports the development of domestic resources, such as wind, solar, nuclear, clean coal and oil and natural gas.( more )
SandRidge to Fund More Pinon Field Exploration
from NGI's Daily Gas Price Index July 02, 2009
SandRidge Energy Inc.'s CEO said Wednesday the company will use $258 million in proceeds from two transactions to strengthen its balance sheet and to fund more natural gas exploration in its prized Pinon Field in the West Texas Overthrust.( more )
Gulf Landing Surrenders MARAD License for Deepwater Port
from NGI's Daily Gas Price Index July 02, 2009
The U.S. Maritime Administration (MARAD) announced Tuesday that Gulf Landing LLC has surrendered its license to build a liquefied natural gas (LNG) deepwater port off the coast of Louisiana.( more )
BG Group Allies with EXCO to Develop U.S. Shale Gas
from NGI's Daily Gas Price Index July 01, 2009
BG Group plc, better known for its liquefied natural gas (LNG) business, is the latest European energy company to stake a claim in North American gas shale in a $1.3 billion deal that gives it a half-stake in EXCO Resources Inc.'s holdings in Louisiana's Haynesville Shale and the Deep Bossier Sands of East Texas.( more )
EIA Sees Gas Production Off Slightly in April
from NGI's Daily Gas Price Index July 01, 2009
Natural gas production in the Lower 48 declined fractionally in April, according to the Energy Information Administration (EIA), registering a 0.2% decline in gross wellhead withdrawals from March. It was the second month in a row to show a reduction.( more )
CFTC Proposes Major Market Data Collection, Integration
from NGI's Daily Gas Price Index July 01, 2009
The Commodity Futures Trading Commission (CFTC) Tuesday moved to bolster futures trader transparency, including that of large traders, with a proposal to require detailed information on ownership, control and other information for all trading accounts active on U.S. futures exchanges.( more )
Gulf Crossing Cleared to Deliver Up to 1.3 Bcf/d in July
from NGI's Daily Gas Price Index July 01, 2009
Boardwalk Pipeline Partners LP Tuesday said its 356-mile Gulf Crossing Pipeline has completed remediation of pipe anomalies on its system and has been given the green light by the Department of Transportation (DOT) to operate the pipeline at normal operating pressures of up to 72% of the specified minimum yield strength (SMYS) effectively immediately.( more )
FERC OKs Part of Columbia Storage Expansion for Service
from NGI's Daily Gas Price Index July 01, 2009
The Federal Energy Regulatory Commission Tuesday gave Columbia Gas Transmission LLC the green light to place into service part of the proposed expansion of its Ohio storage facilities.( more )
FERC Fines Four Firms $10M for Capacity Release Violations
from NGI's Daily Gas Price Index July 01, 2009
FERC Tuesday approved stipulation and consent agreements requiring four energy companies and affiliates to pay nearly $10 million, as well as disgorge almost $250,000 in unjust profits plus interest, for circumventing the agency's posting and bidding requirements for released capacity, violating shipper-must-have-title (SMHT) requirements and ignoring the prohibition on buy-sell transactions.( more )
Dow, Partners Testing Algae-Based Ethanol as Natgas Alternative
from NGI's Daily Gas Price Index July 01, 2009
Dow Chemical Co. and a Florida-based start-up have partnered on a project that uses algae to turn carbon dioxide (CO2) into ethanol, which, if successful, could reduce the amount of natural gas Dow now uses to make plastics.( more )
|
