The nation’s energy spotlight continued to glare unrelentinglyon California’s electricity market as it narrowly avoided the needfor rolling blackouts last week, and now the state’s energyofficials are left holding their collective breath this week,watching weather, supply, price and regulatory indicators.
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Gas Production Making Small Gains
Now that most of the production data for the third quarter isin, analysts generally are saying they “told you so” because U.S.gas production is barely making desperately needed gains.Production is, however, growing slightly more than expected, andsome observers see huge gains to be made next year.
Gas Production Making Small Gains
Now that most of the production data for the third quarter isin, analysts generally are saying they “told you so” because U.S.gas production is barely making desperately needed gains.Production is, however, growing slightly more than expected andsome observers see huge production gains to be made next year.
Clinton SPR Action Puts Energy at Center Stage
The Democrats barely mentioned the word “energy” in theirplatform at the August convention, but President Clinton put thespotlight on energy issues last week in Washington with hisdecision to release 30 million barrels of crude oil from theStrategic Petroleum Reserve (SPR), as well as a record $400 millionof funding for energy assistance to low-income households for thiswinter.
Reserves Grew Slightly in 1999
A close look at the status of the nation’s gas resources lastyear reveals a lethargic industry barely able to build reserves.However, last year was an improvement over the year prior. Dry gasreserve additions reversed the 2% decline in 1998 and grew lastyear by 2.1% to 167,406 Bcf in the United States, according to anAdvance Summary: U.S. Crude Oil, Natural Gas and Natural GasLiquids Reserves 1999 Annual Report by the Energy InformationAdministration. Reserve additions replaced 118% of gas production.It was the fifth time in the past six years that reserves havegrown.
EIA: Gas Reserves Inched Higher in 1998
A close look at the status of the nation’s gas resources lastyear reveals a lethargic industry barely able to build reserves.However, last year was an improvement over the year prior. Dry gasreserve additions reversed the 2% decline in 1998 and grew lastyear by 2.1% to 167,406 Bcf in the United States, according to anAdvance Summary: U.S. Crude Oil, Natural Gas and Natural GasLiquids Reserves 1999 Annual Report by the Energy InformationAdministration. Reserve additions replaced 118% of gas production.It was the fifth time in the past six years that reserves havegrown.
Nearly All Markets See Higher Weekend Prices
The overall weekend market was firmer Friday, ranging frombarely above flat to as much as 20 cents higher with most of thegains concentrated between a dime and 15 cents. San Juan Basin andthe Southern California border were the rare points seeing smalldeclines.
Critics Already Seek Rehearing of Independence
With the ink barely dry on the final FERC order, state Rep.Frank LaGrotta of Pennsylvania yesterday sought review of theCommission’s decision awarding a certificate to the hotly contestedIndependence Pipeline that would run through his state. Thelawmaker said the Commission should have denied the Midwest-to-EastCoast pipeline project a certificate because the precedentagreements it filed as a show of market support contained “outclauses” for shippers.
Petal Gas Eyes Another Expansion of Storage
With the ink barely dry on the FERC order approving part of thephase-two expansion of its storage caverns in Mississippi, PetalGas Storage L.L.C. last week kicked off an open season to determinewhether there’s a demand for another expansion.
El Paso, Enron Annul $38 Million Contract
With the ink barely dry on the contract accord, El Paso Natural Gas stunned everyone last week when it announced that it and Enron North America Corp. were parting ways. El Paso said the companies had reached a “mutual agreement” to annul their $38 million negotiated arrangement under which the marketer had agreed to acquire 1.2 Bcf/d of westbound firm capacity on the pipeline. (See NGI, Jan. 31).