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Canadian 88 Energy Corp. said it has opened data rooms to allowpotential acquirers access to confidential information. TheCanadian exploration and production company put itself up for salein October after Duke Energy rescued it by buying a controllingstake. On Oct. 10, the company announced that its board hadestablished a special committee to review strategic alternativesand identify opportunities to enhance shareholder value. The boardsaid strong fundamentals for high quality natural gas assets andprospects are not reflected in current stock price valuations andare more likely to be realized through such a strategic reviewprocess. Canadian 88 stated several reasons for initiating thereview process, including high gas prices, large working interestsin significant company-operated gas fields, an inventory ofexcellent gas exploration prospects, the world class potential ofthe company’s East Coast holdings, imminent expiration of currentgas hedges and tax pools in excess of $400 million.

Building on gains achieved in the Tuesday night Access tradingsession, natural gas futures plodded higher yesterday morningbefore spiking dramatically just minutes after fresh storage newswas released. The December contract rocketed to a high of $4.75 andultimately settled at $4.686, a 19.6-cent gain for the session.Estimated volume of 85,529 was evidence of the frenzied buyingactivity.

Aquila Energy and AMDAX — American Direct Access Exchange —plan to tear down the geographic barriers of their two companiesand form an alliance to expand the reach for commercial andindustrial customers using their Web-based auction sites.

Following on the heels of gains achieved in the Tuesday eveningAccess trading session and amid buying frenzies both before andafter the release of fresh storage data, natural gas futures spikedsharply yesterday as traders reacquired long positions liquidatedover the past two weeks.

Williston Basin Interstate Pipeline is planning to expand firmtransportation capacity from the rapidly growing Powder River Basinto its connection with Northern Border in North Dakota by 55MMcf/d. The company is holding an open season through Nov. 30.

Williston Basin Interstate Pipeline is planning to expand firmtransportation capacity from the rapidly growing Powder River Basinto its connection with Northern Border in North Dakota by 55MMcf/d. The company is holding an open season through Nov. 30.

Although it has been overshadowed lately by the boomingproduction in the Powder River Basin in Montana and Wyoming, theRaton Basin in southeastern Colorado and northeastern New Mexicohas nearly doubled its coal-bed methane production over the pasttwo years. As a result, Colorado Interstate Gas is planning to beefup its gas transportation infrastructure in the basin and increasetakeaway capacity by 85,000 Dth/d to 200,000 Dth/d starting inSeptember 2001.

Although it has been overshadowed lately by the boomingproduction in the Powder River Basin in Montana and Wyoming, theRaton Basin in southeastern Colorado and northeastern New Mexicohas nearly doubled its coal-bed methane production over the pasttwo years. As a result, Colorado Interstate Gas is planning to beefup its gas transportation facilities and increase basin takeawaycapacity by 85,000 Dth/d to 200,000 Dth/d starting in September2001.

After dropping a quick nickel in Thursday’s after-hours Accesstrading session, natural gas futures did an about-face Friday astraders learned of the first named storm in the 2000 Atlantichurricane season. The September contract was fast out of the chute,notching a gap-higher open on the daily charts and climbingthroughout the morning. However, after reaching fresh five-weekhighs at $4.39, it came under steady profit taking, which trimmedgains into the closing bell.