Capping

Capping off a strong 2003, Denver-based Western Gas Resources Inc. said Friday that its proved reserves increased 16% last year to 685 Bcfe and it’s production rose 10% to 52.6 Bcfe. The company drilled 601 gross wells during the year, 99% of which were successful.

Capping another tumultuous trading week, the natural gas futures market tumbled lower on New Year’s Eve in selling surges both before and after the release of bearish storage data featuring a paltry 80 Bcf net withdrawal. Within minutes of the report’s release, the February contract dropped to $6.05 — 90 cents off the spike high carved out less than 24 hours earlier.

Capping off almost two weeks of work, TransCanada PipeLines Ltd. finished repairs on the second rupture point on its Nova system Thursday morning and put the stretch of pipe back into service. The company fixed the #1 rupture on Saturday, Dec. 6.

Capping a four-day rally in which prices rose nearly 30%, the natural gas futures market tumbled Friday as producers’ selling mixed with profit-taking from speculative accounts. January finished at $6.135, down 20.2 cents for the day, but still up more than $1.20 for the week. At 83,751, estimated volume was relatively light for the session, evidence that funds had backed off their scorching buying pace of earlier in the week.

Capping off its first full year of offering energy products and services successfully, Tractebel Energy Services Inc. (TES), the retail energy subsidiary of Tractebel North America Inc., said it now plans to expand its retail product offering in the future to include natural gas and information-based services and will continue to enter newly deregulated states where opportunities exist to meet customer needs in the commercial and industrial energy sector.

Capping a tumultuous week of trading, the natural gas futures market rose Friday as a wave of weather-related short-covering boosted prices throughout the morning. Only modest softening was seen in light afternoon trading, leaving the November contract to close at $4.767, up 8.1 cents on the day.

Capping off a day-long emergency conference on Thursday called to address a potential crisis in the natural gas markets, Energy Secretary Spencer Abraham told reporters he planned to move quickly on submitting recommendations to President Bush that would soften the impact of a gas supply shortage this summer or next winter.

Capping off a day-long emergency conference last Thursday called to address a potential crisis in the natural gas markets, Energy Secretary Spencer Abraham told reporters he planned to move quickly on submitting recommendations to President Bush that would soften the impact of a gas supply shortage this summer or next winter.

Capping a nail-biting day for Allegheny Energy investors, the Maryland-based power company last Tuesday offered up good news for its shareholders. Allegheny said that based on substantial progress made in negotiations with lenders, two of its subsidiaries received extensions on waivers from bank lenders under their credit agreements through the end of this month.