Unless independent system operators in the Northeast are able to correct design flaws and lower market barriers, there is a very large risk that high and volatile wholesale electric prices will occur in that part of the country over the next two summers, especially if this summer turns out to be unusually hot, according to a recent report issued by Xenergy Inc.
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Articles from Able
Prices Level Out for Most of Non-Western Market
Somewhat surprisingly, most points outside of California and the Rockies/Southwest basins were able Wednesday to pull out of the price tailspin that had dominated this week’s market. Flat to mildly higher or lower numbers were prevalent in most areas. However, California continued to plunge in triple-digit amounts except for border-SoCalGas quotes, which fell only about 30 cents. The Rockies and Southwest basins generally were down from about a nickel to 20 cents.
Lehman Raises Gas Price Forecast for 2001, 2002
Due to cold weather and falling U.S. production, it is likelythat the oil and gas industry will not be able to refill naturalgas storage for the winter of 2001-2002, according to a LehmanBrothers exploration and production update released last week. Thelow storage levels will likely force gas prices higher for aprolonged period of time, the report stated.
Lehman Raises Gas Price Forecast for 2001, 2002
Due to cold weather and falling U.S. production, it is likelythat the oil & gas industry will not be able to refill naturalgas storage for the winter of 2001-2002, according to a LehmanBrothers exploration and production update released yesterday. Thelow storage levels will likely force gas prices higher for aprolonged period of time, the report stated.
Burlington’s Production Drops, But Income is on the Rise
Even with its natural gas production lagging by more than 100MMcf/d and oil production dropping by more than 15,000 b/d,Burlington Resources was still able to boost its net income from1999’s third quarter of $61 million ($.28 per share) to this year’sthird quarter level of $200 million ($.93 per share) due torealized oil and gas prices rising 47% and 42% respectively fromlast year’s 3Q.
Burlington’s Production Down, Income Up
Even with its natural gas production lagging by more than 100MMcf/d and oil production dropping by more than 15,000 b/d,Burlington Resources was still able to boost its net income from1999’s third quarter of $61 million ($.28 per share) to thisyear’s third quarter level of $200 million ($.93 per share) due torealized oil and gas prices rising 47% and 42% respectively fromlast year’s 3Q.
Reserves Grew Slightly in 1999
A close look at the status of the nation’s gas resources lastyear reveals a lethargic industry barely able to build reserves.However, last year was an improvement over the year prior. Dry gasreserve additions reversed the 2% decline in 1998 and grew lastyear by 2.1% to 167,406 Bcf in the United States, according to anAdvance Summary: U.S. Crude Oil, Natural Gas and Natural GasLiquids Reserves 1999 Annual Report by the Energy InformationAdministration. Reserve additions replaced 118% of gas production.It was the fifth time in the past six years that reserves havegrown.
EIA: Gas Reserves Inched Higher in 1998
A close look at the status of the nation’s gas resources lastyear reveals a lethargic industry barely able to build reserves.However, last year was an improvement over the year prior. Dry gasreserve additions reversed the 2% decline in 1998 and grew lastyear by 2.1% to 167,406 Bcf in the United States, according to anAdvance Summary: U.S. Crude Oil, Natural Gas and Natural GasLiquids Reserves 1999 Annual Report by the Energy InformationAdministration. Reserve additions replaced 118% of gas production.It was the fifth time in the past six years that reserves havegrown.
Independents Gearing Up With Renewed E&P
Oh, to be an independent today holding properties withdiscovered natural gas! Two years ago, you may not have been ableto use that collateral for much, but those days are gone. Naturalgas prices have skyrocketed, coupled with consumers’ thirst for it,and if you have properties ready to be tapped for natural gas,these are the days.
Independendents Gearing Up with Renewed E&P
Oh, to be an independent today holding properties withdiscovered natural gas! Two years ago, you may not have been ableto use that collateral for much, but those days are gone. Naturalgas prices have skyrocketed, coupled with consumers’ thirst for it,and if you have properties ready to be tapped for natural gas,these are the days.