Changed

What to Do When $5 Is the New $2 and $10 Is the New $3

For the longest time it seemed that natural gas prices hovered around $2-3 with a spike here and there. Now the range is $5-10. Oh, how times have changed. Speakers at GasMart 2007 in Chicago Thursday remembered the old days, briefly, while they advised attendees on how to deal with the new era of prices.

May 11, 2007

Transportation Notes

Southern California Gas changed the start date of maintenance this week on Line 225 from Monday to Tuesday. The end date remains Friday. The work is expected to reduce border delivery capacity at Wheeler Ridge by 200 MMcf/d, and will cause storage capacity losses of 75 MMcf/d (injection) and 250 MMcf/d (withdrawal).

May 1, 2006

Transportation Notes

Westcoast, which only last Wednesday changed its imbalance tolerance range to zero pack and 20% draft because of excessive linepack (see Daily GPI, Nov. 30), swung in the other direction for Saturday’s gas day by setting a range of 20% pack and zero draft.

December 5, 2005

Industry Waits, Watches Weakened Rita Pound Supply Structures

Very little gas changed hands on Friday as many traders were displaced by the hurricane, while others stood by watching and waiting for some news about the impact on Gulf production and operations. Most business was done on Thursday for a four-day period (Friday-Monday). There was some choppy intraday business, and, aside from high quotes in the Northeast and Gulf Coast, prices generally reflected the weakness of the futures market on Friday. Near month futures fell 46.6 cents to end the day at $12.324.

September 26, 2005

Pemex Renames E&P Contracts Office to Adjust Investment Strategy

Mexico’s Petroleos Mexicanos (Pemex) has changed the name of its Multiple Service Contracts (MSC) office to “New E&P Contracts” office to respond to exploration and production challenges and to increase its business opportunities. MSCs, which were enacted by the government three years ago, allow for private investment in state-owned exploration and production (see Daily GPI, Jan. 4, 2002).

August 30, 2005

Emily’s Projected Route Gradually Shifts North, Threatening Gulf Producers

Just when some producers were getting their hopes up about Hurricane Emily’s route, the National Hurricane Center (NHC) changed its projections for landfall to just south of Brownsville, TX, by Tuesday night or early Wednesday morning (July 20). Producers are likely to spend a third week in a row evacuating offshore personnel and possibly shutting in some production in the vicinity of the hurricane.

July 18, 2005

EIA Opens Door to Storage Revisions on Any Federal Workday

The Energy Information Administration (EIA) has changed the revision policy for its weekly natural gas storage report (WNGSR), the most widely watched indicator of supply and demand in the natural gas marketplace. The agency has decided to allow unscheduled revisions on any federal workday between 2 p.m. and 2:10 p.m. ET only if the impact of the reported change is greater than 10 Bcf in any region or nationally.

May 2, 2005

EIA Opens Door to Storage Revisions on Any Federal Workday

The Energy Information Administration (EIA) has changed the revision policy for its weekly natural gas storage report (WNGSR), the most widely watched indicator of supply and demand in the natural gas marketplace. The agency has decided to allow unscheduled revisions on any federal workday between 2 p.m. and 2:10 p.m. ET only if the impact of the reported change is greater than 10 Bcf in any region or nationally.

April 27, 2005

Storage Buying, Generation Load Cited in Rally

With bearish weather and storage outlooks little changed Wednesday from the day before, some traders were a bit surprised to see Tuesday’s hemorrhaging of spot prices come to a halt so soon for the most part. But they cited further buying for storage injections and the probability of power generation maintenance shifting load to gas peaking units as reasons for the rebounds.

April 7, 2005

Industry Briefs

Ownesboro, KY-based TGT Pipeline LLC, a subsidiary of Loews Corp., has changed its name to Boardwalk Pipelines LLC. The renamed company is the parent of two operating subsidiaries in the interstate gas pipeline industry, Texas Gas Transmission LLC and Gulf South Pipeline Co. LP, whose names will remain unchanged.

February 14, 2005
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