Deliver

Conoco Inc. said Monday it plans to proceed with the $600 million development of the Magnolia Field in the deepwater Gulf of Mexico. The field in Garden Banks blocks 783 and 784, about 180 miles south of Cameron, LA, is expected to begin oil and gas deliveries in the fourth quarter of 2004.

Due to a change in schedule, Tennessee was unable to deliver gas for processing to the Yscloskey Plant in southeast Louisiana beginning Wednesday. Customers were required to reduce PTR nominations for Yscloskey to zero until further notice.

Gas production can ramp up to deliver between 1 and 1.5 Bcf/d more supply over the next four years by increasing drilling in conventional areas before any of the proposed long distance imports come on line, leaders of the two most active drilling companies in the United States told a GasMart/Power audience in Tampa, FL, Wednesday.

Maritimes & Northeast Pipeline (M&NP) said its Point Tupper Lateral is now ready to deliver gas to customers in Point Tupper. The lateral was placed in service June 30. Following construction of a pressure reducing station, M&NP was granted final Leave-to-Open by the National Energy Board (NEB) on June 27. Final commissioning of the facilities took place over the past three weeks. “It is yet another milestone towards our target of establishing a 2 Bcf/d system by 2010 serving markets in the Maritimes, Eastern Canada, and New England,” said Phillip Knoll, president of M&NP. The Point Tupper Lateral is 37 miles long and extends from the M&NP mainline to Point Tupper, NS. M&NP closed the purchase of the lateral from Sable Offshore Energy Inc. on June 22. The lateral will serve the Sable fractionation plant, StoraEnso and CGC, Inc. in Point Tupper.

Gas production can ramp up to deliver between 1 and 1.5 Bcf/d more supply over the next four years by increasing drilling in conventional areas before any of the proposed long distance imports come on line, leaders of the two most active drilling companies in the United States told a GasMart/Power audience in Tampa, FL, last Wednesday.

First quarter earnings for North American energy companies are sounding a varied tempo in the cacophony of record profits and natural gas production. Texaco Inc., Apache Corp. and Anadarko Petroleum Corp. jazzed up their bottom line with producing acquisitions. Mitchell Energy & Development Corp., however, relied on an old Texas saying to “dance with the one who brung ya.” Both ways, it appears, are playing equally well.

The third time was a charm yesterday for bulls in the natural gas pit. After slipping lower Tuesday and Wednesday after two straight higher opens, gas futures added to early gains Thursday as traders rallied amid bullish weather news and technical factors. Gains were almost uniform across the front months, with summer strip advancing 24.3 cents to close at $5.502. The May contract, meanwhile, was 24 cents stronger at $5.422.

Enron Broadband Services Content Systems LLC has signed along-term agreement with EBWorld.com and Into Networks Inc. todeliver games on demand, the first application to launch as part ofa strategic alliance between the companies. The service isscheduled to begin June 1. EBWorld.com is a subsidiary ofElectronic Boutique Holdings Corp. of West Chester, PA, whichoperates 740 stories in 46 states and around the world. IntoNetworks, headquartered in Cambridge, MA, is licensing itstechnology to Electronics Boutique, and Enron will providestrategic, financial and operational services to Into to offerbroadband customers secure access to software on a rental basis.The alliance is attempting to optimize and increase delivery ofstreaming applications over broadband connections using software ondemand technology.

Denver-based Western Gas Resources last week protested that itwas being forced to deliver 5,000 MMBtu/d of natural gas tocash-strapped Pacific Gas and Electric (PG&E) pursuant to theemergency orders of the U.S. Department of Energy.