December

NOAA Continues to Forecast Warm Winter in West, Cool South

The U.S. Winter Outlook for December 2004 through February 2005 continues to call for warmer-than-normal conditions across the entire West and Alaska and cooler-than-normal conditions in the Southeast and Mid Atlantic, according to an update issued Thursday by the National Oceanic and Atmospheric Administration (NOAA). Elsewhere, including the key gas consuming markets in the Midcontinent/Midwest and New England, there are equal chances of above, below and normal temperatures.

October 25, 2004

NOAA Continues to Forecast Warm Winter in West, Cool South

The U.S. Winter Outlook for December 2004 through February 2005 continues to call for warmer-than-normal conditions across the entire West and Alaska and cooler-than-normal conditions in the Southeast and Mid Atlantic, according to an update issued Thursday by the National Oceanic and Atmospheric Administration (NOAA). Elsewhere, including the key gas consuming markets in the Midcontinent/Midwest and New England, there are equal chances of above, below and normal temperatures.

October 25, 2004

NOAA Continues to Forecast Warm Winter in West, Cool South

The U.S. Winter Outlook for December 2004 through February 2005 continues to call for warmer-than-normal conditions across the entire West and Alaska and cooler-than-normal conditions in the Southeast and Mid Atlantic, according to an update issued Thursday by the National Oceanic and Atmospheric Administration (NOAA). Elsewhere, including the key gas consuming markets in the Midcontinent/Midwest and New England, there are equal chances of above, below and normal temperatures.

October 25, 2004

RBC: Oil Service Sector Rally Expected to Continue in 2004

The oil service sector ended the year on a strong note, with stocks gaining more than 10% in December, and the rally is expected to continue “along a bumpy path” for the first half of 2004, according to a new report by RBC Capital Markets analysts.

January 12, 2004

RBC: Oil Service Sector Rally Expected to Continue in 2004

The oil service sector ended the year on a strong note, with stocks gaining more than 10% in December, and the rally is expected to continue “along a bumpy path” for the first half of 2004, according to a new report by RBC Capital Markets analysts.

January 8, 2004

Court Expected to Act Soon to Finalize El Paso Settlement with Four States

A California Superior Court in San Diego is expected to rule the first week of December in the $1.6 billion settlement between El Paso Corp. and four western states, the principal one being California. Two separate court approvals are needed before the Federal Energy Regulatory Commission-approved deal can be made final, both of which could come before the end of the year.

December 1, 2003

NW Natural Lowers 1Q Guidance on Warm Weather Patterns

The El Nino weather pattern, said NW Natural, which affected the western United States in December 2002, continued in early 2003, “such that January weather in NW Natural’s service area was 15% warmer than average.” Overall, first quarter temperatures were 8% warmer than average and 12% warmer than in the first quarter of 2002.

April 3, 2003

EIA Figures Difference Between Wellhead and Henry Hub at 24 to 32 Cents/Mcf

The difference between wellhead prices and Henry Hub prices between August 1996 and December 2000 averaged 32 cents/Mcf, with Hub prices averaging 10.8% higher, according to a study by the Energy Department’s Energy Information Administration (EIA). However, the median value between the two of 24 cents/Mcf may be a better measure, EIA said.

July 15, 2002

Mirant Lowers Earnings Forecast; Plans Asset Sales, Spending Cuts

Mirant’s stock price has plunged 60% since the beginning of December forcing the company to take drastic actions to restore investor confidence. Enron’s bankruptcy, Mirant’s credit rating downgrade by Moody’s Investor Services and questions about its accounting practices all have played a role in the collapse of its stock.

February 4, 2002

EOG to Acquire Canada’s Fox Energy

EOG Resources Canada Inc. announced in late December it would buy Fox Energy Corp., a junior oil and gas company with assets in Western Canada. EOG will acquire all of the issued and outstanding common shares of the Calgary-based company, paying C$0.46 in cash for each Fox common share. EOG’s offer is an 18% premium to the closing price of Fox on Dec. 21, 2001, when Fox closed at C$0.39 after opening at C$0.42. This year, Fox has drilled seven wells in its core assets, with a 71% success rate.

January 7, 2002