Aggregate

Industry energy consumers called on the House Wednesday to require the Commodity Futures Trading Commission (CFTC) to provide aggregate position limits across all exchanges in order to control excessive speculation in energy commodities, particularly natural gas.

The Commodity Futures Trading Commission (CFTC) is seeking comments on whether to change its weekly Commitments of Traders (COT) reports, which show aggregate trader positions in certain futures and option markets. The reports provide a breakdown of each Tuesday’s open interest for all futures and option markets in which 20 or more traders hold positions equal to or above minimum reporting levels established by the CFTC. Over time, both the trading activity that is the subject of the COT reports and the reports themselves, have continued to evolve. As a result of changing market conditions, the commission is undertaking a comprehensive review of the COT reporting program. The notice in the Federal Register, which can be found at http://www.cftc.gov/foia/fedreg06/foi060621a.htm,provides background information on the COT reports and lays out various issues and questions. The comment deadline is Aug. 21. For details contact the CFTC’s Donald Heitman at (202) 418-5041, email, dheitman@cftc.gov.

Tulsa-based independent Vintage Petroleum Inc. said Monday it internally increased its oil and natural gas production in 2004 and achieved a 5% increase in aggregate contributions from all of its producing areas. It also estimated year-end proved reserves at 437.2 million boe, with 2004 output from continuing operations of 24.5 million boe.

New legislation introduced in the House Tuesday would cap U.S. aggregate greenhouse gas emissions starting in 2010 at the 2000 level, the impacting the power generation, transportation, industrial manufacturing and other economic sectors (agricultural and residential sectors are exempt).

Coho Energy Inc. has completed the sale of all of its oil and gas properties for an aggregate sales price of approximately $222 million in cash. The company sold its properties in two separate transactions to Citation Oil & Gas Corp. and Denbury Resources Inc.

Coho Energy Inc. announced Friday that it has completed the sale of all of its oil and gas properties for an aggregate sales price of approximately $222 million in cash. The company sold its properties in two separate transactions to Citation Oil & Gas Corp. and Denbury Resources Inc.

Kern River Gas Transmission announced last Monday it had completed construction and was flowing gas through emergency expansion facilities on its Kern River natural gas transmission system. The expansion, which consisted mostly of adding compression, increased delivery capacity of the Wyoming to California pipeline by 135,000 Dth/d.

NEChoice LLC announced yesterday that it is seeking electricitysuppliers for its commercial, institutional and municipal customersthrough its National Energy Choice program. National Energy Choice,which currently represents one of the largest aggregated pools inthe Northeast, is seeking bids for 100 MW of electricity. Abidder’s conference will be held on Jan. 6 and responses are due onFriday, Jan. 14.