Six energy prognosticators over the past week have raised their outlooks for domestic natural gas prices this year, with one indicating that $4.50/MMBtu this summer is “on the table” based on a colder-than-expected end to winter and slowing production in major onshore basins.
Articles from Depressed
A glut of light oil supplies from tight oil fields into the Midwest has depressed regional prices, making it imperative for Canada’s oilsands producers to find alternative markets for their product, consultancy IHS CERA said in a Jan. 14 report.
PDC Energy Inc. received several joint ownership and development proposals for its Utica Shale position in southeast Ohio from potential joint venture (JV) partners, but they “do not meet PDC’s value expectations,” so the Denver-based company will pursue development in the play independently.
The government of Western Australia said Wednesday it will introduce regulations to mandate public disclosure of “any chemicals introduced into a well or formation” although tight and shale gas development in the region is seen as “a number of years away.”
In a still-depressed market for merchant power, Calpine Corp. on Tuesday used the dedication of a new natural gas-fired power plant in the PJM market as a signal that competitive power markets are working and independent generation plant developers will continue to build more gas-fired plants.
In today’s depressed natural gas and power markets, any hopes of a solar building boom have been dashed as evidenced by the latest moves at Edison International’s utility. Southern California Edison (SCE) has decided to cut its utility investment in rooftop solar systems in half, according to the parent company CEO Ted Craver, speaking on a conference call Monday in which Edison reported increased profits year over year and flat results for the fourth quarter last year.
Reflecting continued depressed retail demand and lower wholesale natural gas costs, the Idaho Public Utilities Commission (PUC) on Wednesday lowered further the retail rates of Boise-based Intermountain Power Co. The utility revenue requirement was dropped by $2.2 million and retail rates were cut slightly, effective last Friday.
Reflecting conditions of depressed demand and surplus supplies in the Pacific Northwest, Williams’ Northwest Pipeline Co. has decided to halt plans for a 172-mile extension of 36- and 30-inch diameter pipelines that was set to provide another 500 MMcf/d of capacity into the region’s Interstate 5 corridor.