Depressed

The months of June and July were the “low water mark” for Enterprise Products Partners LP’s natural gas liquids (NGLs) business — especially for ethane — but CEO O.S. “Dub” Andras said Monday he was “encouraged and cautiously optimistic” in recent activity for liquids.

The end of a major supply constraint depressed Rockies/Pacific Northwest quotes, but the rest of the market added to Wednesday’s small gains with ones that often were slightly larger Thursday. A soaring natural gas screen following the storage report is expected to keep the general bullish streak going Friday, possibly even igniting a rebound in the Rockies.

The below-investment-grade credit ratings plaguing many energy suppliers right now have substantially shrunk the pool of natural gas suppliers that California can tap to meet the 15 Bcf annual supply needs of a coalition of major state and local government facilities, which aggregate their loads through the state General Services Department’s gas-buying program.

The below-investment-grade credit ratings plaguing many energy suppliers right now have substantially shrunk the pool of natural gas suppliers that California can tap to meet the 15 Bcf annual supply needs of a coalition of major state and local government facilities, which aggregate their loads through the state General Services Department’s gas-buying program.

Drilling and oilfield services firm Nabors Industries Ltd. said the continuing depressed drilling market and low margins in part led to a 75% drop in its net income in the third quarter to $26.9 million, or 18 cents/diluted share, from $108.2 million or 68 cents/diluted share in 3Q2001.

Drilling and oilfield services firm Nabors Industries Ltd. said the continuing depressed drilling market and low margins in part led to a 75% drop in its net income in the third quarter to $26.9 million, or 18 cents/diluted share, from $108.2 million or 68 cents/diluted share in 3Q2001.

Officials at Colorado Interstate Gas (CIG) are expecting extremely depressed gas prices and wide basis differentials in the Rocky Mountain region this year to provide enough of an incentive for producers to finally step up to the plate and support an eastern greenfield pipeline project, and possibly the switching of Wyoming Interstate to westbound flow to support demand from Kern River shippers at the Opal hub.

Officials at Colorado Interstate Gas (CIG) are expecting extremely depressed gas prices and wide basis differentials in the Rocky Mountain region this year to provide enough of an incentive for producers to finally step up to the plate and support an eastern greenfield pipeline project, and possibly the switching of Wyoming Interstate to westbound flow to support demand from Kern River shippers at the Opal hub.

With power producers continuing to reel from depressed stock prices and, in many cases, overleveraged balance sheets, several companies are looking to shed hard assets in an effort to shore up their financial moorings. But the reality is that this is a “buyer’s market” for such assets, Raymond Niles, an analyst with Salomon Smith Barney, recently said. The pricing environment for sellers of generation-related assets is likely to get worse before it improves, he believes.