Prices ranged from flat to down a few cents Wednesday, with mostof the softness concentrated in the Gulf Coast, Midcontinent andChicago citygates. Columbia-Appalachia joined those points indeclines of mostly 3-6 cents, but CNG and Northeast citygates weredown only a penny or two. The declines tended to be attributed to”tracking the Nymex,” as a marketer said.
Archive / Author
SubscribeNGI Staff Reports
Articles from NGI Staff Reports
Futures Slip Lower in Slow Trading
The April Nymex contract slipped 1.3 cents to $2.228 onWednesday, as the near month contract continues to be hounded bytight trading ranges. April could move no higher than $2.245 and nolower than $2.210 yesterday.
March 5, 1998
Bill Introduced to Revamp Federal Royalty Collection
Rep. William M. “Mac” Thornberry (R-TX) introduced legislationWednesday aimed at “completely overhauling the current system” usedby the federal government to collect royalties on oil and naturalgas production.
March 5, 1998
One-Call Moves Two Steps Closer to Law
One-call pipeline safety legislation moved much closer tobecoming law this week as the Senate voted to add it to omnibustransportation legislation and representatives Richard Hugh Baker(R-LA) and Frank Pallone (D-NJ) introduced a nearly identicalone-call bill in the House of Representatives. The Senate alreadyhas passed one-call as a stand alone bill (S. 1115) but includingit in the larger transportation package increases its chances ofbecoming law.
March 5, 1998
MCN Energy, American Central Form Gathering Venture
MCNIC Pipeline & Processing, a subsidiary of MCN EnergyGroup, and American Central Gas Companies, have formed apartnership to own and operate a gas gathering system in theCarthage field of East Texas. MCNIC Pipeline & Processing has a40% interest, and American Central holds 60%.
March 5, 1998
Mobile Bay-to-Louisiana NGL Line Slated
Six energy companies agreed to form Tri-States NGL Pipeline tobuild a natural gas liquids (NGL) pipeline from Alabama andMississippi to Louisiana fractionators. The line will link threegas processing plants under construction to new and expandedfractionators on the Mississippi River.
March 5, 1998
Mitchell Replaces 187% of Gas & Oil Reserves
Mitchell Energy & Development replaced 187% percent of thegas and oil reserves it produced in fiscal 1998, even while settinga new high for annual gas sales of 238 MMcf/d.
March 5, 1998
NEB Approves Export Licenses
Canada’s National Energy Board approved six applications foreight licenses to export some 1.2 Tcf of gas for periods of two toten years:
March 5, 1998
Futures Prices Fall, But Traders Look For Rebound
The April Nymex contract took a 5.1 cent hit to $2.241 onTuesday, as speculators continued to sell positions following thespot month’s inability to break above the $2.355 resistance levelon Monday, a source told GPI. Total volume was estimated at 41,490contracts.
March 4, 1998
Regulatory Battle Forces Alliance Pipeline Delay
The Alliance Pipeline project’s in-service date is expected tobe delayed by about one year, Alliance Pipeline President and CEODennis Cornelson announced yesterday. The massive Canadian gaspipeline project designed to bring 2.3 Bcf/d of supply to theChicago hub from supply basins in British Columbia and Albertalikely won’t start flowing gas until late in 2000 rather than inNovember 1999 because of continued regulatory delays in Canada. Theproject has come under a hail of protests from competitors inongoing hearings in front of Canada’s National Energy Board.
March 4, 1998