Classified

Laser Northeast Gathering Co. LLC is abandoning its efforts to have a proposed gathering system in northeast Pennsylvania classified as a public utility with the Pennsylvania Public Utility Commission (PUC).

“Irrational exuberance” is the way at least one energy trader classified Monday’s explosion higher in natural gas futures values. In spite of bearish fundamentals, the July contract jumped 41.4 cents higher to close at $4.249 as some market experts pointed fingers at fresh speculative money flooding into commodities.

With near-term weather forecasts being classified as anything but supportive, March natural gas futures on Wednesday continued to explore new lows in the downtrend. However, an afternoon round of buying sparked a rally that allowed the prompt-month contract to close at $4.214, up 1.1 cents from Tuesday’s close.

Once classified as safe investments suitable for “widows and orphans,” gas and electric utility stocks interest a broader cross section of investors, more interested in how well their investments perform and appreciate in value instead of the dividend yields or management performance, according to a new survey by Deloitte & Touche.

Once classified as safe investments suitable for “widows and orphans,” gas and electric utility stocks interest a broader cross section of investors, more interested in how well their investments perform and appreciate in value instead of the dividend yields or management performance, according to a new survey by Deloitte & Touche.

Only a day after ending a systemwide high-inventory OFO, Pacific Gas & Electric issued a new one for Saturday. The latest order was classified as Stage 3 and carried penalties of $5/Dth for exceeding a positive imbalance tolerance of 4%.

A large portion of federal lands are classified as “available” and open to energy exploration and development, but oil and natural gas producers still can’t drill on the lands due to the number of obstacles they face, the head of the Independent Petroleum Association of Mountain States (IPAMS) told a Senate panel last Thursday.

A large portion of federal lands are classified as “available” and open to energy exploration and development, but oil and natural gas producers still can’t drill on the lands due to the number of obstacles that they face, the head of the Independent Petroleum Association of Mountain States (IPAMS) told a Senate panel Thursday.

Brazil’s Petrobras is buying 22 million bbl of oil reserves and 267 Bcf of gas reserves in Argentina from Devon Energy for $90 million. About 75% of the reserves are classified as proved undeveloped. The properties produced 6,100 b/d of oil and 17 MMcf/d of gas net to Devon’s interest during the first six months of 2002. The transaction, which is subject to Argentine regulatory approvals, is expected to close by the end of the year.