Nicor and Dynegy Inc. have begun construction on a 250 MWgas-fired, peak-demand power generation facility in the Village ofEast Dundee, IL. The two companies said they plan to market theelectricity generated at the Rocky Road Power facility in thewholesale market to investor-owned utilities, electric cooperativesand municipalities when commercial operations get underway thissummer.
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Shell Offshore said oil and gas production has begun from thefirst sub-salt well in the Enchilada field, which includes GardenBanks Blocks 83, 84, 127, 128 and 172 and is located about 185miles southwest of New Orleans in the Gulf of Mexico. The sub-saltChimichanga well, is located on Garden Banks Block 127 and isjointly owned by Shell Offshore, Amerada Hess, and PennzoilExploration & Production.
The Public Service Co. of Colorado announced yesterday italready has begun construction of its 53-mile Front Range Pipelinewhich, when completed, will serve the Denver, CO, natural gasmarket. The construction comes less than one month after theColorado Public Utilities Commission gave the go-ahead for the $25million pipeline project.
“The bear market is over, the bull market has begun.” That’s howone industry broker succinctly summarised the recent developmentsin the natural gas futures market yesterday. The July contractadded to its latest fortunes by climbing another 7.8 cents tosettle Monday at $2.362. In so doing, July is now “well above anypossible downtrend line you can realistically draw,” a source toldGPI.