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Several producers have asked FERC to resolve what they believe is an “inconsistency” in an Oct. 31 stipulation and consent agreement negotiated with Transwestern Pipeline, which bars the pipeline from recovering a $550 million loan that it secured to help bail out its parent, Enron Corp., just weeks before it filed for bankruptcy last December.

BP America Production Co. and affiliate BP Energy Co. have asked FERC to resolve what they believe is an “inconsistency” in an Oct. 31 stipulation and consent agreement negotiated with Transwestern Pipeline, which bars the pipeline from recovering a $550 million loan that it secured to help bail out its parent, Enron Corp., just weeks before it filed for bankruptcy last December.

Warmer weather currently is putting downward pressure on gas prices, but some market observers believe a sudden cold snap could quickly and dramatically change the picture for this winter’s market. Consultants at Wakefield, MA-based Energy Security Analysis Inc. say while a $10 peak is unlikely, $6/MMBtu certainly is possible. However, Tim Evans, futures analyst with IFR Pegasus, believes the market already hit its winter peak, the $4.44/MMBtu reached last week by the December contract.

Warmer weather currently is putting downward pressure on gas prices, but some market observers believe a sudden cold snap could quickly and dramatically change the picture for this winter’s market. Consultants at Wakefield, MA-based Energy Security Analysis Inc. say while a $10 peak is unlikely, $6/MMBtu certainly is possible. However, Tim Evans, futures analyst with IFR Pegasus, believes the market already hit its winter peak, the $4.44/MMBtu reached last week by the December contract.

The Bank of New York, Prebon Yamane and Amerex announced a newconcept for the energy industry that they believe willsignificantly boost market liquidity and efficiency. They haveformed a new joint venture called EnergyClear, which will createthe first industry-sponsored clearinghouse to offer comparison,netting and settlement of wholesale energy contracts for theover-the-counter (OTC) marketplace.

The Bank of New York, Prebon Yamane and Amerex announced a newconcept for the energy industry that they believe willsignificantly boost market liquidity and efficiency. They haveformed a new joint venture called EnergyClear, which will createthe first industry-sponsored clearinghouse to offer comparison,netting and settlement of wholesale energy contracts for theover-the-counter (OTC) marketplace.

A federal bankruptcy judge in San Francisco last Wednesday gave the California Public Utilities Commission (CPUC) approval to file an alternate reorganization plan for Pacific Gas and Electric Co. as part of the utility’s Chapter 11 proceedings. Both sides immediately interpreted Judge Dennis Montali’s decision as a plus for their side in the ongoing bankruptcy battle. The CPUC said it would file its plan by April 15, noting that it expects the creditors’ committee to support it.

Once again reducing its near-term oil and natural gas activity forecast, Raymond James & Associates Inc. said that the deteriorating oil and gas prices from two months ago still appear to be “weighing on the minds” of exploration and production companies.

“Although we have some exposure to commodity prices, we believe we have the opportunity to achieve the upper end of the range by continuing our track record of growth and cost containment, while also prudently managing our risk,” said CEO Robert Catell.