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Producers have stronger bottom lines than other sectors of the oil and gas industry, but high natural gas prices reflect falling U.S. production and the “hard time” exploration and production companies have to replace reserves of comparable or better quality at a competitive cost, said Moody’s Investors Service analysts. Moody’s analysts on Wednesday gave a “stable” rating to the entire sector, with the exception of oil refiners and wholesale marketing, which both carry a “negative” outlook.

The warm winter in the East is showing up in financials from distribution companies up and down the East Coast, but at least one of them will be collecting on its weather insurance. New Jersey-based NUI Corp., Washington, DC-based WGL Holdings Inc. and North Carolina-based Piedmont Natural Gas Co., said warmer than normal temperatures in their natural gas service areas and the current economic recession are having an effect on earnings in 2002.

In the near-term, gas prices could easily drop below $4/MMBtu because of the rapid rise in storage levels this spring. But summer prices likely will spike above $6, and the long-term forecast shows prices will average between $4 and $5, said Robert Morris of Salomon Smith Barney at NGI’s GasMart/Power in Tampa last week. However, Morris doesn’t expect recurring winter peaks above $10/MMBtu.

In the ever shrinking world of electronic energy exchanges, the bottom line remains that e-business is still business, according to a panel of B2B executives speaking last week at NGI’s GasMart/Power 2001 in Tampa. Altra Technologies’ Dixie Barrett, Intercontinental Exchange’s Rafael Pirutinsky and New York Mercantile Exchange’s Tom Martin told the audience that consolidation within their industry will continue, but the marketplace will only end up stronger.

In the near-term, gas prices could easily drop below $4/MMBtu because of the rapid rise in storage levels this spring. But summer prices likely will spike above $6 and the long-term forecast is that prices will average between $4 and $5, said Robert Morris of Salomon Smith Barney yesterday at NGI’s GasMart/Power in Tampa. However, Morris doesn’t expected recurring winter peaks above $10/MMBtu.

In the ever shrinking world of electronic energy exchanges, the bottom line remains that e-business is still business, according to a panel of B2B executives yesterday speaking at NGI’s GasMart/Power 2001 in Tampa. Altra Technologies’ Dixie Barrett, Intercontinental Exchange’s Rafael Pirutinsky and New York Mercantile Exchange’s Tom Martin told the audience that consolidation within their industry will continue, but the marketplace will only end up stronger.

After putting in a price bottom at the end of July, natural gasfutures have moved steadily higher throughout the month of Augustas traders priced a hurricane premium into the market. Theirconcern is that a supply disruption in a market that already sportsa tight supply-demand equilibrium could mean serious problemsheading into the crucial winter demand months.

Some major U.S. independent producers absorbed major blows tothe bottom line in the first quarter of 1999, but CEOs from thecompanies insist higher profits are right around the corner.

Some major U.S. independent producers absorbed major blows tothe bottom line in the first quarter of 1999, but CEOs from thecompanies insist higher profits are right around the corner.