Consolidation

So much for the “reality” of fundamental weakness forcing prices into a consolidation period. That had appeared to be the case Thursday, but it was being repudiated in a huge way Friday. Gas quotes for the weekend advanced by 20 cents or more at all points, with the West’s larger gains being driven both by cold weather and sharply higher prices for electricity.

Consolidation in the energy industry in North America is expected to accelerate in the second half of 2001, particularly among independents oil and gas producers, according to the energy mergers and acquisitions team at PricewaterhouseCoopers. But acquirers run the risk of overpaying at what may be the high end of the pricing cycle.

Consolidation in the energy industry in North America is expected to accelerate in the second half of 2001, particularly among independents, according to the energy mergers and acquisitions team at PricewaterhouseCoopers. But acquirers run the risk of overpaying at what may be the high end of the pricing cycle.

Following a nine-week sideways consolidation period, natural gas prices finally broke lower Monday, as traders continued to price in the impact of increased production in a slowing economy. A gap lower open for the June contract set the tone early and the bears responded with a steady stream of selling throughout the session, delivering the prompt month to its lowest settle in five months. At the closing bell, June was 17.2 cents lower at $4.695.

Apparently the cash market was just taking a price-consolidationbreather for the weekend because it returned to a steep upwardtrack Monday. Only Florida citygates failed to rise by more than 30cents, and the highly volatile California and Pacific Northwestmarkets led the price charge with gains of 60 cents or more.

The energy online marketplace is crowded, confused and on theverge of shaking out and consolidating, according to three whoshould know, two CEOs of successful trading platforms and a Nymexexecutive, who last week shared their predictions at the EnergyRiskTech Conference in Houston.

The energy online marketplace is crowded, confused and on theverge of shaking out and consolidating, according to three whoshould know, two CEOs of successful trading platforms and a Nymexexecutive, who yesterday shared their predictions at the EnergyRiskTech Conference in Houston.

After being an attractive takeover or merger target, the phonelines to Las Vegas-based Southwest Gas Corp. from prospectivesuitors are idle.

After being an attractive takeover or merger target, the phonelines to Las Vegas-based Southwest Gas Corp. from prospectivesuitors are idle, several major lawsuits having been filed overlast year’s failed merger attempts-first with a desired partner andsecond with an unwanted partner.