Determined

EIA Finds Futures to Be Inadequate Predictor of Henry Hub Spot Price

While many industry experts use the gas futures market to predict realized spot prices at the Henry Hub, a new study by the Energy Information Administration (EIA) determined that out-month futures contract are “relatively poor predictors” of the Hub spot price that is eventually realized when the contract settles. Even the final futures price for a given contract often does not match the realized average spot cash price, EIA said.

October 31, 2005

Transportation Notes

Texas Eastern said an inspection of its Cameron system offshore southwest Louisiana has determined that production from 37 meters (see bulletin board for list) can begin flows at 9 a.m. CDT Wednesday. The pipeline will accept nominations for supply sourced from the posted meters once the meter operator has contacted its Texas Eastern operations account manager to report the status of production. Meters on the Cameron system that are not listed should remain shut in as further investigations continue, Texas Eastern said.

October 19, 2005

Court: NU Shareholders Can’t Sue ConEd for $1.2B Tied to Failed Merger Deal

A U.S. Court of Appeals for the Second Circuit unanimously determined that Consolidated Edison, Inc. (ConEd) could not be sued by Northeast Utilities’ shareholders for the $1.2 billion difference between the consideration that would have been paid upon consummation of the company’s scuttled merger with Northeast Utilities and the market value of Northeast Utilities’ common stock at the time of the merger agreement.

October 17, 2005

Nymex Reiterates Rule in Light of Force Majeure Declaration by Sabine Pipe Line

The New York Mercantile Exchange (Nymex) said Friday it has determined to make a finding of force majeure with respect to all remaining delivery obligations in the September natural gas futures contract effective as of Thursday’s declaration by Sabine Pipeline. The exchange said any further action will be undertaken pursuant to its authority as set forth in NYMEX rule 220.18, in particular rule 220.18 section (C)(6).

September 26, 2005

Transportation Notes

The Matagorda Offshore Pipeline System has determined that it does not have a leak on its 24-inch mainline (see Daily GPI, Aug. 5), operator Northern Natural Gas said. A force majeure situation on MOPS was canceled. NNG also said operational conditions on its East Leg had improved Friday, so it canceled a System Overrun Limitation for delivery points east of Belleville (WI) Station (see Daily GPI, Aug. 5).

August 8, 2005

Producers Face Steadfast Opposition to Drilling Off Canadian West Coast

Gas producers stand warned to count on facing determined environmental resistance every step of the way if the British Columbia and federal governments press ahead on plans to end a 33-year-old ban against drilling in the offshore of the Canadian West Coast.

April 25, 2005

Steadfast Opposition to Drilling Off Canadian West Coast

Gas producers stand warned to count on facing determined environmental resistance every step of the way if the British Columbia and federal governments press ahead on plans to end a 33-year-old ban against drilling in the offshore of the Canadian West Coast.

April 25, 2005

CIG’s Raton Basin Expansion Gets Environmental Green Light

The staff of the Federal Energy Regulatory Commission has determined that the proposed Raton Basin expansion of the Colorado Interstate Gas (CIG) pipeline system in Colorado, Kansas and Oklahoma will not cause major harm to the environment.

April 11, 2005

Shell Plans to Double LNG Sales by End of Decade

Royal Dutch/Shell Group is determined to retain a leadership role in the expanding liquefied natural gas (LNG) business, and has set a mark to double its global LNG sales by the end of the decade, the company’s CEO said last week.

December 13, 2004

Shell Plans to Double LNG Sales by End of Decade

Royal Dutch/Shell Group is determined to retain a leadership role in the expanding liquefied natural gas (LNG) business, and has set a mark to double its global LNG sales by the end of the decade, the company’s CEO said Monday.

December 7, 2004