Business was booming in the trading exchange market in 2006 as evidenced by volume records from some of the major energy exchanges. Following IntercontinentalExchange’s (ICE) record volume announcement last week, the New York Mercantile Exchange Inc. (Nymex) announced Tuesday that it set an annual total volume record of 276,152,326 contracts in 2006, crushing the previous record of 204,610,365 contracts set in 2005.
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NGI The Weekly Gas Market Report
EIA Maintains Bullish Outlook on Supply Concerns, Booming Crude
Citing the booming crude oil market and continuing concerns about long-term natural gas supply, the Energy Information Administration (EIA) slightly raised its Henry Hub gas price forecast for the year in its Short Term Energy Outlook to $8.11/MMBtu from the $8.07 it predicted in last month’s Outlook, and sharply increased its gas price forecast for 2007 to $9.17 from its April prediction of $8.39.
EIA Maintains Long-Term Bullish Outlook on Supply Concerns, Booming Crude
Citing the booming crude oil market and continuing concerns about long-term natural gas supply, the Energy Information Administration (EIA) slightly raised its Henry Hub gas price forecast for the year in its Short Term Energy Outlook to $8.11/MMBtu from the $8.07 it predicted in last month’s Outlook, and sharply increased its gas price forecast for 2007 to $9.17 from its April prediction of $8.39.
NGI The Weekly Gas Market Report
Analysts: Upstream M&A Booming Despite High Valuations
Upstream merger and acquisition activity is booming, with 2005 spending on corporate acquisitions more than tripling to $120 billion as the corporate deal count rose 40% year-over-year, according to John S. Herold and Harrison Lovegrove & Co. Ltd.
Analysts: Upstream M&A Booming, But North American Share Declines
Upstream merger and acquisition activity is booming, with 2005 spending on corporate acquisitions more than tripling to $120 billion as the corporate deal count rose 40% year-over-year, according to John S. Herold and Harrison Lovegrove & Co. Ltd.
Gas-Fired Power Development Still Booming
One new gas-fired power plant will become operational every three days over the next two years, according to a new assessment by Arlington, VA-based consulting firm Energy Ventures Analysis Inc. (EVA). More than 367,000 MW of new gas-fired generation is either in operation, construction or active development, a 7% increase over last quarter, EVA said in its report, “Tracking the Boom of New Power Plants in the U.S.”
Gas-Fired Power Development Still Booming
One new gas-fired power plant will become operational every three days over the next two years, according to a new assessment by Arlington, VA-based consulting firm Energy Ventures Analysis Inc. (EVA). More than 367,000 MW of new gas-fired generation is either in operation, construction or active development, a 7% increase over last quarter, EVA said in its report, “Tracking the Boom of New Power Plants in the U.S.”
Plans Revealed for Two New Powder River Basin Pipelines
Coalbed methane is booming and the Powder River Basin has the pipeline projects to prove it. Plans for two new gathering lines were revealed last week, one for a Wyoming intrastate which will have some service in place by the end of the year, and an interstate proposed by Williston Basin Interstate Pipeline Co. to travel 245 miles through Wyoming, Montana and North Dakota. In the meantime Northern Border Pipeline said it will be conducting an open season for its proposed Bison Pipeline. All three lines have a terminus in the vicinity of Gillette, WY.
CIG Files to Expand Access to Raton’s Coal-Bed Methane
Although it has been overshadowed lately by the boomingproduction in the Powder River Basin in Montana and Wyoming, theRaton Basin in southeastern Colorado and northeastern New Mexicohas nearly doubled its coal-bed methane production over the pasttwo years. As a result, Colorado Interstate Gas is planning to beefup its gas transportation infrastructure in the basin and increasetakeaway capacity by 85,000 Dth/d to 200,000 Dth/d starting inSeptember 2001.
CIG Files to Expand Access to Raton’s Coal-Bed Methane
Although it has been overshadowed lately by the boomingproduction in the Powder River Basin in Montana and Wyoming, theRaton Basin in southeastern Colorado and northeastern New Mexicohas nearly doubled its coal-bed methane production over the pasttwo years. As a result, Colorado Interstate Gas is planning to beefup its gas transportation facilities and increase basin takeawaycapacity by 85,000 Dth/d to 200,000 Dth/d starting in September2001.