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After threatening for most of the morning to punch below the $6 mark, August natural gas futures rebounded from near its previous $6.025 low to settle at $6.155, up 3.7 cents on the day.

With normal cooling degree and heating degree days in the third and fourth quarters, Stephen Smith Energy Associates estimates in its latest Monthly Energy Outlook that third quarter Henry Hub natural gas prices will average $5.82/Mcf and fourth quarter prices will be $5.62, yielding an average annual forecast of $5.80 for 2004. If the estimate holds, gas prices would average 40 cents higher than in 2003.

Reiterating its belief that liquefied natural gas (LNG) imports will be necessary to augment dwindling domestic supply, Energy Security Analysis Inc. (ESAI) added that it believes that imported LNG will “radically change” the U.S. and world gas markets, pushing domestic gas prices downward.

Noting that near-freezing weather was in the northern half of Florida and its linepack was “currently well below targeted levels,” Florida Gas Transmission issued an Overage Alert Day notice Thursday with 15% tolerance for negative daily imbalances.

Appalachian producer North Coast Energy said it has received several proposals from third parties interested in buying the company, but at prices lower than where its stock has been trading since its announcement in April that it was examining its strategic alternatives. North Coast shares (NCEB) fell nearly 11% on the news Tuesday morning to $12.12.

ConocoPhillips said Thursday that its upstream crude oil, natural gas and natural gas liquids production on a boe a day basis in the third quarter will be 6% below the second quarter — a drop it anticipated earlier this year.

ConocoPhillips said Thursday that its upstream crude oil, natural gas and natural gas liquids production on a boe a day basis in the third quarter will be 6% below the second quarter — a drop it anticipated earlier this year.

A customer-specific OFO was declared for Tuesday by Pacific Gas & Electric, which projected that system linepack would fall below its minimum target level.

The financial storm enveloping Aquila Corp. — cuts in its credit rating to below investment grade, forced asset sales, restructuring of its operations and widespread federal investigations into its trading — will have “possible negative impacts” on the company’s regulated natural gas distribution facilities and power utilities in Missouri, but an immediate rate hike doesn’t appear to be in the cards for customers, according to a Missouri Public Service Commission staff report.