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Calgary-based unconventional gas player Mahalo Energy Ltd. says its pending acquisition of Peregrine Energy Ltd., also of Calgary, will complement its existing low-risk U.S. and Canadian coalbed methane and shale portfolio with high-risk, high-reward prospects in Northeast British Columbia and west-central Alberta.

A screen plunge of nearly 90 cents the day before virtually assured further cash softness Friday, but the physical market also was depressed by moderating trends from the heating load created by widespread severely cold weather in the first half of the week and by the drop in industrial load that occurs over a weekend.

Florida Gas Transmission lifted Saturday an Overage Alert Day notice that had been in effect since the previous Monday. FGT also said it will begin unscheduled maintenance Wednesday on one of the two compressor units at the FGT/Transco St. Helena interconnect in South Louisiana. The work is expected to last until the end of the month, during which FGT will reduce the point’s capacity to 35,000 MMBtu/d. During normal operations it schedules up to 60,000 MMBtu/d there.

The New York Mercantile Exchange Inc. (NYMEX) said Friday that it will change the margins on its natural gas futures, Henry Hub natural gas swap futures, e-miNY natural gas futures, Henry Hub natural gas penultimate swap futures, and Henry Hub natural gas swing swap futures contracts at the close of business on June 21.

There was little consistency in price movement Tuesday. Most of the market was close to flat, but also saw gains as big as about 30 cents and losses as big as about 15 cents. Then there was the special case of the Northeast, where a couple of points recorded dollar-plus increases while others took the biggest falls of up to nearly 60 cents.

Plains Exploration & Production Co. said Thursday it is selling some non-core properties on and offshore California, as well as nearly all of its assets in South Texas and New Mexico to reduce its unit cost structure. The transactions, which represent about 11% of the company’s production volumes but 20% of total cash production expenses, are expected to close by the end of this year.

Plains Exploration & Production Co. said Thursday it is selling some non-core properties on and offshore California, as well as nearly all of its assets in South Texas and New Mexico to reduce its unit cost structure. The transactions, which represent about 11% of the company’s production volumes but 20% of total cash production expenses, are expected to close by the end of this year.

Natural gas prices are expected to continue rising this year, averaging more than $6/MMBtu this fall and winter, according to the Energy Information Administration’s latest Short Term Energy Outlook. The EIA has done an about-face on its domestic supply projections. It now sees “only marginal improvement in the supply picture” through 2005 with slight domestic production growth next year and modest increases in liquefied natural gas (LNG) imports.

Natural gas prices are expected to continue rising this year, averaging more than $6/MMBtu this fall and winter, according to the Energy Information Administration’s latest Short Term Energy Outlook. The EIA has done an about-face on its domestic supply projections. It now sees “only marginal improvement in the supply picture” through 2005 with slight domestic production growth next year and modest increases in liquefied natural gas (LNG) imports.