Collapsed

More than five years after Enron Corp. collapsed into bankruptcy, the Securities and Exchange Commission (SEC) Wednesday charged Jordan Mintz and Rex Rogers, two former in-house lawyers, with participating in various fraudulent schemes. Mintz, 50, is currently the chief tax officer at energy company Kinder Morgan Corp, while Rogers, 58, a former SEC lawyer, is retired.

After exploring the upside in morning trade and notching a $7.720 high, November natural gas futures collapsed in the afternoon, recording a low of $7.060 before expiring at $7.153, down 34.4 cents on the day and 8.8 cents lower for the week. December natural gas, now the front month contract, closed Friday 24 cents lower at $7.827.

Enron Corp. founder Kenneth Lay, who had suffered two previous heart attacks before he collapsed and died on July 5, suffered from severe heart disease, according to an autopsy released by the Pitkin County, CO, Sheriff’s Office. Lay’s three main coronary arteries were more than 90% blocked, the autopsy revealed.

After opening 62.1 cents lower than Wednesday’s settle, January natural gas futures prices collapsed $1.348 on Thursday to end the day at $12.923, leaving many market experts dumbfounded. The Energy Information Administration (EIA) reported a lower than expected 162 Bcf storage withdrawal, but it was still a big storage drop by historical standards.

Soaring fuel prices, which slashed the value of unwinding energy trading contracts collapsed Williams’ 3Q earnings by 96%, the company reported Thursday. However, the Tulsa-based company raised its profit forecast for the year on the continued strong performances of its other three major business units: exploration and production (E&P), natural gas pipelines and midstream processing.

Soaring fuel prices, which slashed the value of unwinding energy trading contracts collapsed Williams’ 3Q earnings by 96%, the company reported Thursday. However, the Tulsa-based company raised its profit forecast for the year on the continued strong performances of its other three major business units: exploration and production (E&P), natural gas pipelines and midstream processing.

Cash prices collapsed between 50 cents and more than $1 on Thursday, giving back about a third of what they have gained since bidweek, in response to continued futures weakness, slightly cooler weather in some markets and a somewhat larger than expected 52 Bcf weekly storage injection.

After its first attempt collapsed in October, Harken Energy Corp. said Monday that it has sold the majority of its oil and gas properties located in the Panhandle region of Texas for approximately $7 million in cash.

After trading nearly a dime higher for most of the sessionMonday, the futures market collapsed during the last 20 minutes oftrading amid a flurry of selling that was set in motion bysell-stops and wide cash-futures basis. By the time the dust hadsettled, December’s $2.442 close was 11.1 cents off Friday’s leveland nearly 20 cents from session highs. Estimated volume was arobust 76,481.