Appear

Higher costs and a sustained drop in natural gas prices appear likely to continue into 2008, forcing some of the largest producers in Western Canada to cut their capital budgets and leading more of the smaller gas-heavy independents to sell assets or consolidate, energy executives said at a conference in Toronto.

Maritimes & Northeast Pipeline is holding an open season June 8-Aug. 31 for the system’s second major expansion, named Phase V, and it would appear that there is a wealth of potential supply that could take new capacity on the 882-mile (1,420-kilometer) pipeline in the 2010-2012 timeframe.

Maritimes & Northeast Pipeline is holding an open season June 8-Aug. 31 for the system’s second major expansion, named Phase V, and it would appear that there is a wealth of potential supply that could take new capacity on the 882-mile (1,420-kilometer) pipeline in the 2010-2012 timeframe.

Former Vice President Al Gore last week was back on Capitol Hill, not to announce any future election plans, but rather to appear before his former colleagues and testify about an issue he first held hearings on as a congressman from Tennessee 20 years ago: global warming.

Exploration and production (E&P) companies appear “more than willing” to continue investing this year in the drillbit and in acquisitions, according to an informal survey by Raymond James & Associates energy analysts.

Even with the downturn in commodity markets, exploration and production (E&P) companies appear “more than willing” to continue investing this year in the drillbit and in acquisitions, according to an informal survey by Raymond James & Associates energy analysts.

Exploration and production (E&P) companies appear ready to face natural gas price volatility this year, with average producers hedging about one-third of their gas at $7-8/Mcf, with “room for upside” should the energy markets improve, a trio of Raymond James & Associates Inc. energy analysts said last week.

Many exploration and production (E&P) companies appear ready to face natural gas price volatility this year, with average producers hedging about one-third of their gas at $7-8/Mcf, with “room for upside” should the energy markets improve, a trio of Raymond James & Associates Inc. energy analysts said in a new “Stat of the Week.”

While market bears are currently in the driver’s seat and appear likely to push near-month futures prices down into the mid-$5s or possibly lower barring a sudden increase in hurricane activity, the bulls clearly have control of the out-months with the spread between October and January futures recently peaking at a whopping $4.70. Some analysts conclude that these spreads are a clear indication that lower prices won’t be around for long.