Assuming

Assuming the weather cooperates, spot natural gas prices are expected to average about $3.12/Mcf next winter, up about 70 cents from prices during last year’s heating season, but “only” 10-15% higher than current gas prices, according to the Energy Information Administration (EIA). It projects the annual gas price will average about $2.78/Mcf, down significantly from the year-ago level of $4 and down 11 cents from its July forecast. EIA also lowered its 2003 price forecast 20 cents to $3.02.

Assuming the weather cooperates, spot natural gas prices are expected to average about $3.12/Mcf next winter, up about 70 cents from prices during last year’s heating season, but “only” 10-15% higher than current gas prices, according to the Energy Information Administration (EIA). It projects the annual gas price will average about $2.78/Mcf, down significantly from the year-ago level of $4 and down 11 cents from its July forecast. EIA also lowered its 2003 price forecast 20 cents to $3.02.

The Energy Information Administration (EIA) is projecting that natural gas prices next winter, assuming normal weather, will hover around $3.40/Mcf, which is about $1/Mcf higher than last winter, but only 10-15% above current prices.

Using historical trends and assuming the once-prolific Ladyfern production remains flat, Canadian natural gas production through 2002 will be down between 1% and 2% from last year, according to research by Lehman Brothers’ energy and power analysts. The downtrend this year compares with the 6% annual increase experienced in 2001. At the same time, Canadian demand was up 2% year-to-date April over the same period a year ago.

Glen L. Kettering, president of Columbia Gas, is assuming the additional responsibilities of heading up Columbia Gulf, due to the resignation of Terrance L. McGill. Columbia Gulf said McGill voluntarily left the company to pursue other activities in the Houston area. Promoted to senior vice president positions in the recent restructuring of the NiSource subsidiaries are James W. Hart Jr., who heads Columbia Gulf’s marketing and business development activities, and Rene P. Dartez, who directs the company’s financial planning and budgeting functions.

Western Resources’ preliminary earnings for April and May werenearly double the entire 1999 second quarter earnings, and assumingthat June is a “normal weather month” with no unexpected events,the company said yesterday it expects to exceed its 1994 record forsix-month earnings that brought $1.46 a share. The earnings fromthe Topeka, KS-based company’s electric utility operations were”significantly ahead” of the company’s expectations, with most ofthe increase attributed to increased earnings in wholesale powermarketing transactions. The preliminary earnings for April and Maytotaled $0.50 per share, compared with $0.27 per share for theentire second quarter of 1999.

Ohio and Pennsylvania landowners have called on FERC to impose adeadline by which the multi-state Independence Pipeline and ANRPipeline’s SupplyLink expansion must submit long-term contracts tojustify the need for their respective projects.

Beta Oil & Gas Inc. of Tulsa, OK, plans to acquire privateoil and gas producer Red River Energy Inc., also of Tulsa, for$23.5 — assuming about $7.6 million of existing debt and issuing2.25 million shares of Beta common stock. The deal is subject toapproval by Beta shareholders.

Beta Oil & Gas Inc. of Tulsa, OK, plans to acquire privateoil and gas producer Red River Energy Inc., also of Tulsa, for$23.5 – assuming about $7.6 million of existing debt and issuing2.25 million shares of Beta common stock. The deal is subject toapproval by Beta shareholders.