Adds

IntercontinentalExchange (ICE) said last Thursday it is implementing a number of “fair trading” initiatives to detect false trades and ensure the validity of trades and prices recorded on its commodity trading platform.

IntercontinentalExchange (ICE) said Thursday it is implementing a number of “fair trading” initiatives to detect false trades and ensure the validity of trades and prices recorded on its commodity trading platform.

Kinder Morgan Energy Partners LP (KMP) late Thursday announced three more expansions to its growing terminals business, with a $36 million investment to purchase two terminal facilities located along the Mississippi and Ohio Rivers, as well as a long-term contract to build additional storage capacity at KMP’s liquids terminal in New York Harbor.

Shell Exploration & Production Co. (SEPCo) has announced another deep water discovery in its Mars Basin. The company said last Thursday it has encountered oil and gas at its Deimos prospect located in approximately 3,000 feet of water in Mississippi Canyon Block 806. SEPCo, as operator, has a 72% interest in the prospect; BP has a 28% interest.

Shell Exploration & Production Co. (SEPCo) has announced another deep water discovery in its Mars Basin. The company said Thursday it has encountered oil and gas at its Deimos prospect located in approximately 3,000 feet of water in Mississippi Canyon Block 806. SEPCo, as operator, has a 72% interest in the prospect; BP has a 28% interest.

San Diego-based Sempra Energy’s Connecticut-based trading unit reportedly has entered the global coffee commodity market at a time post-Enron when energy traders are being subjected to increased scrutiny. Sempra would not deny or confirm that they are doing some coffee trading, but through a corporate spokesperson in San Diego Monday emphasized that the vast majority of the company’s trades are in natural gas, electricity or metals.

Houston-based Nuevo Energy Co. on Wednesday announced the acquisition of 100 Bcfe of proved reserves — 97% natural gas and associated liquids — for two million shares of its common stock, $62 million in cash and the assumption of $20 million of debt from Athanor Resources Inc., a private company funded primarily by Yorktown Energy Partners. The reserves are located entirely in Terrell County, TX.

In its latest energy forecast, the Energy Information Administration slightly lowered its predictions for gas supply this year mainly due to expectations of lower imports. It marginally raised its gas demand forecast and added a penny/Mcf to its outlook for expected average wellhead prices this year, which are now at $2.79/Mcf compared to $4.12 last year.

In its latest energy forecast, the Energy Information Administration (EIA) slightly lowered its predictions for gas supply this year mainly due to expectations of lower imports. It marginally raised its gas demand forecast and added a penny/Mcf to its outlook for expected average wellhead prices this year, which are now at $2.79/Mcf compared to $4.12 last year.