Domestic

The domestic energy trading market, which shrank considerably following the collapse of Enron Corp., is on the upswing, according to a new report issued by a Boston, MA-based research and consulting firm.

Results from a 43-company survey have led analysts at Southwest Securities to believe domestic gas production may actually show a sequential increase for the second quarter compared to first quarter levels, but still will be down sharply compared to levels during the same quarter last year. In contrast, the Energy Information Administration (EIA) predicts that production ended the quarter flat sequentially and year-to-year.

Results from a 43-company survey have led analysts at Southwest Securities to believe domestic gas production may actually show a sequential increase for the second quarter compared to first quarter levels, but still will be down sharply compared to levels during the same quarter last year. In contrast, the Energy Information Administration (EIA) predicts that production ended the quarter flat sequentially and year-to-year.

There are as many scenarios as there are proponents for hydrogen’s future dominance as a clean transportation and domestic energy source, and its long-term future is assured if the current political, environmental and regulatory backing it enjoys stays committed as it appeared to be during the National Hydrogen Association’s 15th annual conference in Los Angeles April 26-29. If there are skeptics, they are in the minority, and in the academic arena.

A Houston-based energy trading firm has purchased Williams’ domestic petroleum trading and marketing business for $23 million and the assumption of future obligations that total $16.5 million.

ChevronTexaco Corp. revealed in a first quarter interim update late Thursday that its domestic oil and natural gas production in the first two months of 2004 fell by 3-4% while its international liquids volumes were down 3%. The proxy statement also disclosed that CEO Dave O’Reilly’s salary doubled last year.

The 10-year outlook for domestic gas and oil production companies is “probably about the strongest of any industry,” according to Sanders Morris Harris analyst John Olson. Wellhead revenues over this decade are expected to be near double that of the 1990s. There’s no shortage of conventional drilling opportunities. And investors are recognizing the value inherent in the industry.

The 10-year outlook for domestic gas and oil production companies is “probably about the strongest of any industry,” said Sanders Morris Harris analyst John Olson. Wellhead revenues over this decade are expected to be near double that of the 1990s. There’s no shortage of conventional drilling opportunities. And investors are recognizing the value inherent in the industry.

In Securities and Exchange Commission 10-K filings last week, one top U.S.-based major, ChevronTexaco, is forecasting declining domestic production this year, while the second, Marathon Oil Corp., continues to ramp up its numbers. Both expect to see strong gains internationally.