Claim

It wasn’t much, but the market could claim a little more of both heating and cooling load in posting solid double-digit increases at all points Thursday. However, cash quotes continued to depend more on prior-day screen support and a general sense that global economic woes may be starting to lessen in extending the week’s rally into its fourth day.

The market could claim marginal increases in cooling load in the South as more sections of the region were forecast to start recording highs in the mid 80s or so Thursday. Nevertheless, fundamental underpinnings of this week’s rally were still difficult to detect Wednesday even as overall firmness remained prevalent.

Describing itself as a “lower-risk play on the long term fundamentals of natural gas,” Questar Corp. may have validated its claim with its 2Q2007 earnings and production results. The company increased its natural gas and oil production by 13% and its net income by 24% from a year ago — in spite of the current price environment for Rocky Mountain natural gas production.

Describing itself as a “lower-risk play on the long term fundamentals of natural gas,” Questar Corp. may have validated its claim with its 2Q2007 earnings and production results. The company increased its natural gas and oil production by 13% and its net income by 24% from a year ago — in spite of the current price environment for Rocky Mountain natural gas production.

Nearly 82% of senior technology executives claim to closely monitor the issue of global warming, but 65% do not have a defined energy strategy to deal with it, according to a global survey by Hill & Knowlton Inc. And of those surveyed, 77% believe there is a need to expand the executive or “C-Suite” to include a chief energy officer to manage, implement and measure a company’s return on investment in environmental technology, or return on environment (ROE).

Nearly 82% of senior technology executives claim to closely monitor the issue of global warming, but 65% do not have a defined energy strategy to deal with it, according to a global survey by Hill & Knowlton Inc. And of those surveyed, 77% believe there is a need to expand the executive or “C-Suite” to include a chief energy officer to manage, implement and measure a company’s return on investment in environmental technology, or return on environment (ROE).

Energen Corp. subsidiary Energen Resources sold its allowed $12.5 million Enron bankruptcy claim, which will generate net income in 2006 of $6.7 million, or 9 cents per diluted share. The parent company reaffirmed its 2006 earnings guidance range of $3.10-$3.30 per diluted share, noting that the Enron settlement is expected to place Energen’s 2006 earnings toward the middle of this range. Excluded from the earnings guidance is a significant fourth quarter gain from the previously announced sale of one-half of Energen Resources’ acreage position in Alabama shales. The Birmingham, AL-based company has 1.7 Tcfe of proved reserves in the San Juan, Permian and Black Warrior basins and in the North Louisiana/East Texas area.

Testimony by the managing price editor for Natural Gas Intelligence (NGI) Friday left open to question the prosecutor’s claim that two former natural gas traders succeeded in manipulating natural gas price indexes in 2000 and 2001 by submitting false information to publishers.

A municipal natural gas distributor group Friday expressed “strong disagreement” with the Treasury Department’s claim that a House-approved bill authorizing greater Commodity Futures Trading Commission (CFTC) oversight of the natural gas market is unwarranted.