In preparing its customers for the winter heating season, Washington, DC-based Washington Gas said that assuming normal winter temperatures, customers can expect heating bills to vary slightly from last year — within a range of approximately 5% higher or lower — depending upon the amount of gas a customer uses, the type of service and the market price of gas.
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Global Banking Giant RBS Gives Sempra Trading Clout
Assuming that banking and energy regulators in the UK and United States agree, Sempra Energy’s announcement Monday of a $2.65 billion joint venture with Royal Bank of Scotland (RBS) to run and capitalize the San Diego-based energy company’s trading operations (see Daily GPI, July 10) provides it with the best of both worlds. Sempra can use RBS’s financial heft to realize upside growth while at the same time lowering its risk.
NGI The Weekly Gas Market Report
Combined WPS-Peoples Will Focus Mainly on Regulated Businesses
Assuming it’s consummated, the acquisition of Peoples Energy Corp. by WPS Resources Corp. will result in a Chicago-based utility holding company with a Green Bay, WI-based nonregulated energy marketing operation. The company will have regulated utilities in four midwestern states. Nonregulated businesses will serve customers in the Northeast and Canada.
Raymond James Expects Higher Gas Prices to Sustain Drilling in ’07
Assuming U.S. natural gas prices average above $8/Mcf in 2007, every drilling rig that can work will work both onshore and offshore, Raymond James energy analysts said in a report issued last week.
Raymond James Expects Higher Gas Prices to Sustain Drilling in ’07
Assuming U.S. natural gas prices average above $8/Mcf in 2007, every drilling rig that can work will work both onshore and offshore, Raymond James energy analysts said in a report issued Monday.
Energen Hedges 10% of Estimated 2006 Gas Production
Energen Corp. on Tuesday forecast earnings in the range of $4.65-4.85/share in 2006, assuming that average New York Mercantile Exchange prices for unhedged natural gas will average $6.15/Mcf and oil production will average $35/bbl. Energen has hedged 10% of its estimated 2006 gas production and increased its oil hedge position.
With Normal Weather, Analyst Sees Gas Prices in $5.50-$6 Range
Assuming normal weather through January, and barring a major oil supply disruption during the period, Stephen Smith Energy Associates is forecasting a natural gas target price in the range of $5.50-$6/MMBtu for February Henry Hub bidweek prices.
Questar Rides Increased Production, Prices to Strong 2Q Earnings
Led by an 18% increase in nonregulated gas, oil and natural gas liquids production, a 14% rise in realized natural gas prices, and an 18% increase in nonregulated gas gathering volumes, Questar Corp. posted 2Q2004 net income of $42.6 million, or $0.50 per diluted share, compared with $20.3 million, or $0.24 per diluted share, in the comparable 2003 period.
House-Senate Negotiators Gear Up for Energy Bill
Assuming all of the conferees for the energy bill have been selected by then, conference negotiations on the comprehensive legislation are expected to get under way Friday, according to staff members of the Senate Energy and Natural Resources Committee.
Gas Demand Forecast to Grow 2.3% with 1% Supply Decline in ’03
Assuming a $3.50/Mcf price, demand for natural gas will grow 2.3% in 2003, with total supply declining 1%, according to Mississippi-based natural gas analyst Stephen Smith’s December energy outlook. Overall, the U.S. gas supply and demand picture looks positive in 2003, he said.