Cuts

Royal Dutch Shell plc is set to announce “substantial” job cuts in the coming days, sources told NGI Friday.

Portland, OR-based Northwest Natural Gas Co. executives said Tuesday the utility faces additional job cuts of 50-100, but major storage and pipeline projects continue on schedule.

A slump in North American natural gas prices has led to higher-than-expected spending cuts by oil and gas producers this year, Barclays Capital analysts said last week.

A slump in North American natural gas prices has led to higher-than-expected spending cuts by oil and gas producers this year, Barclays Capital analysts said Monday.

In some states where consumers are conserving gas and using more efficient appliances, the reduced gas consumption cuts into the net income of local distribution companies (LDC) and it’s necessary to decouple distribution revenue from throughput or gas consumption to preserve utility revenue.

In some states where consumers are conserving gas and using more efficient appliances, the reduced gas consumption cuts into the net income of local distribution companies (LDC) and it’s necessary to decouple distribution revenue from throughput or gas consumption to preserve utility revenue.

Kern River said Tuesday it was able to avoid “same day cuts” for shippers despite supply shortages that occurred at Opal and Anschutz during Monday’s gas day, but the combination of these shortages and the drafting that occurred that day resulted in a “very low” linepack level throughout its system. If linepack dropped further Tuesday, the pipeline said it may be necessary for it to physically prevent further drafting Wednesday and to impose mandatory payback (by physically limiting deliveries) to parties that drafted Tuesday. “Please ensure that your supplies are sufficient to cover all your deliveries,” Kern River concluded in a note to customers.

Power producer Calpine Corp last Thursday said it cut its natural gas reserves estimate by 6% at the end of the fourth quarter and reduced the carrying value of certain fields in South Texas and offshore Louisiana. Both actions will take a toll on the San Jose, CA-based energy company’s fourth quarter results, which will be announced in late February.

Power producer Calpine Corp on Thursday said it cut its natural gas reserves estimate by 6% at the end of the fourth quarter and reduced the carrying value of certain fields in South Texas and offshore Louisiana. Both actions will take a toll on the San Jose, CA-based energy company’s fourth quarter results, which will be announced in late February.