Apparently

EnCana Corp. has apparently scored success with a new natural gas well test in its suspended Deep Panuke project offshore Nova Scotia and could drill a second shallow-water well by the end of October, according to the company’s senior vice president for the East Coast. However, El Paso Corp., which two years ago proposed a gas pipe from Nova Scotia into the U.S. Northeast, said it would delay its project until more discoveries are made.

The record rainfall in various parts of the nation this year apparently is playing havoc with some pipeline construction schedules. Southern Natural Gas Co., for one, has asked, and received, from FERC two extensions to complete construction and place into service phase one of its South System Expansion II project in the Southeast.

The record rainfall in various parts of the nation this year apparently is playing havoc with some pipeline construction schedules. Southern Natural Gas Co., for one, has asked, and received, from FERC two extensions to complete construction and place into service phase one of its South System Expansion II project in the Southeast.

Apparently Tuesday’s general flatness was just the cash market’s way of taking a breather, because prices were back on an upward track Wednesday. With some exceptions, such as mild Rockies softness and small upticks at a few other points, the gains were remarkably consistent throughout most of the market at 10-20 cents or so.

In another move apparently designed to fend off a hostile proxy battle led by a major investor, embattled El Paso Corp. last Tuesday announced that three of its top executives will leave the company within a month. The company said the move was part of its “clean slate initiative” to slim down operations and further reduce costs.

In another move apparently designed to fend off a hostile proxy battle led by a major investor, embattled El Paso Corp. on Tuesday announced that three of its top executives will leave the company within the next month. The company said the move was part of its “clean slate initiative” to slim down operations and further reduce costs.

The winter apparently isn’t dead yet. After two weeks of solid net injections into gas storage, market observers were startled Thursday morning when the Energy Information Administration (EIA) reported a 9 Bcf net withdrawal during the past week. It was clearly a step in the wrong direction if the industry plans to make an attempt at rivaling the record injection rate in 2001 just to get storage back to near adequate levels by the beginning of next winter.

Ronald Kuehn, recently named chairman and CEO of El Paso Corp., has resigned from Transocean Inc., effective Monday. Kuehn apparently told Transocean management that his resignation would allow him to devote additional time to his El Paso duties. He said the move also would avoid the appearance of conflicts of interest that could arise with the recent appointment of J. Michael Talbert, Transocean’s chairman. Kuehn had served on the offshore drilling contractor’s board and its predecessor companies since 1975.

The gas futures rocket ran out of fuel and apparently had no parachute on Tuesday. April went into free-fall, opening the day down 22.5 cents, and then rapidly sailing straight through the $6 support level and several major trendlines to a hard landing at $5.944, down a grand total of 57.1 cents for the day.