Current

While some producers may be scaling back exploration and acquisition plans in view of current low prices, Stone Energy, which operates in the shallow Gulf of Mexico, is seizing the opportunity to add to its portfolio of prospects.

While some producers may be scaling back exploration and acquisition plans in view of current low prices, Stone Energy, which operates in the shallow Gulf of Mexico, sees the low prices as a chance to capitalize on its shallow prospects and low-cost operations.

The cash market came to a near-standstill at mid-morning Tuesday as a result of the terrorist attacks on New York City’s World Trade Center, the Pentagon and other sites (see related story). Virtually all trading operations sent employees home early, while pipelines and utilities kept only those personnel essential for critical operations on duty.

Expanding its current fuel management role to merchant power plants, Houston-based Noble Affiliates Inc.’s subsidiary, Noble Gas Marketing, plans to manage the fuel needs of two of the largest merchant power plants in the country with a combined capacity of 4,400 MW. The natural gas-fired power plants are being constructed by Panda Energy International and TECO Power Services. Noble will procure fuel for the Union Power Station in El Dorado, AR, and the Gila River Power Station in Gila Bend, AZ.

Expanding its current fuel management role to merchant power plants, Houston-based Noble Affiliates Inc.’s subsidiary, Noble Gas Marketing, plans to manage the fuel needs of two separate natural gas-fired power plants being constructed by Panda Energy International and TECO Power Services. The company will procure fuel for the Union Power Station in El Dorado, AR and the Gila River Power Station in Gila Bend, AZ.

Warning that “the impacts of the current energy crisis are just now beginning to be felt in places all across the country,” House Resources Committee Chairman James V. Hansen, R-UT, opened hearings last Wednesday on energy legislation (H.R. 2436) that centers on tapping between five and ten billion barrels of oil from the Arctic Natural Wildlife Refuge (ANWR).

Warning that “the impacts of the current energy crisis are just now beginning to be felt in places all across the country,” House Resources Committee Chairman James V. Hansen, R-UT, opened hearings Wednesday on energy legislation (H.R. 2436) that centers on tapping between five and ten billion barrels of oil from the Arctic Natural Wildlife Refuge (ANWR).

The American Gas Association (AGA) sees nothing but positives in the current gas supply situation despite the fact that inadequate supply in the face of strong demand growth has been behind the recent record increase in prices and expectations of more than $4 gas price averages this year. It’s confidence in the long-term growth of demand has been shaken somewhat, however, and its prior price forecasts appear to have been more than a little on the low side.

The American Gas Association sees nothing but positives in the current gas supply situation despite the fact that inadequate supply in the face of strong demand growth has been behind the recent record increase in prices and expectations of more than $4 gas price averages this year.