Natural Gas Intelligence the weekly gas market newsletterpublished : August 16, 1999
Dollars
Articles from Dollars
Energy Lenders Slowly Loosening Grip on Dollars
In the wake of last year’s oil bust, energy industry lenders arestill keeping a tighter grip on their money. However indicationsare some banks and investors are starting again to look for placesto put capital in the energy patch.
Producers Put Up Big Dollars for New Nova Scotia Exploration
Producers put up healthy exploration budgets to show natural gasdevelopment has only begun on Canada’s East Coast with the SableOffshore Energy Project and Maritimes & Northeast Pipeline. Ahighly successful auction of drilling prospects offshore of NovaScotia also confirmed faith in the region that the merger of ExxonCorp. and Mobil Corp. will not cause a contraction of the buddingeastern Canadian gas industry.
Nova Scotia Drawing Significant Exploration Dollars
The Canadian-Nova Scotia Offshore Petroleum Board and the NovaScotia Petroleum Directorate awarded 19 offshore Nova Scotiaexploration licenses and three onshore licenses yesterday for atotal of C$592 million, the largest investment in petroleumexploration ever made in Nova Scotia.
Southern Union Tops ONEOK Offer For Southwest
It’s funny how an extra hundred million dollars will get your attention. That’s what the board of directors of Southwest Gas Corp. have to contend with in the form of an unsolicited proposal from Southern Union Co., after they already had signed off on an offer from ONEOK Inc.
Columbia Announces Georgia Retail Strategy
Columbia Energy won’t be sinking dollars into a statewide brandadvertising campaign in Georgia like several other retail marketersdid prior to Nov. 1 start-up. Instead, the company plans anaggressive direct marketing program that focuses on attractivepricing and customer service. Columbia is offering Atlanta GasLight (AGL) customers a guaranteed bundled gas delivery price of39.9 cents per therm, a savings on gas costs of 18% for residentialcustomers and 19% for small commercial buyers compared to AGL’scharges over the last six months.
DOE Research Budget Targets Turbines, Fuel Cells
Advanced turbine systems (ATS), including microturbines, andfuel cells, took the top dollars in the Department of Energyresearch, development and demonstration budget for FY99, accordingto a budget assessment by the American Gas Association. Overall,AGA estimated DOE’s research funding for natural gas set a newrecord at $246 million. That’s up from the $209 million in thisyear’s budget.