Canadian Gas Production in Perpetual Decline, NEB Reports

Canadian natural gas production will shrink by as much as 500 MMcf/d this year and keep on dropping next year, the National Energy Board (NEB) said in a downward revision of supply forecasts.

June 12, 2007

Futures Close Lower; Traders Discuss Thursday’s Errant Trade

Trading a slim 12-cent range on Friday, May natural gas futures ended up dropping 11.1 cents to close at $7.381, which is 42 cents lower than the previous Friday’s close. With a number of market experts still calling futures range-bound, much of the banter Friday was on the “errant” trade Thursday during the storage report’s release.

April 23, 2007

Heating Load, Futures Boost Prices at Most Points

Although one source dismissed the latest surge of winter cold in northern market areas as “nothing to write home about,” temperatures are dropping low enough to ignite price increases at virtually all points Thursday. The previous day’s screen rebound of 19.1 cents provided additional support for cash quotes Thursday.

March 16, 2007

In Keeping Pace with Cash, Futures Back Above $7

After dropping 36 cents Monday and giving bulls pause, prompt-month natural gas futures resumed higher in trading on Tuesday. November natural gas, which goes off of the board Friday, popped back above $7 once again to record a high of $7.150 before settling at $7.091 — good for a 21-cent gain on the day.

October 25, 2006

After Six-Day Tumble, Futures Jump Above $7, Settle Up 4.2 Cents

After losing nearly a dollar in value in a week, dropping to $6.689 Thursday from $7.651 on Wednesday, Aug. 9, near-month gas futures staged a somewhat surprising reversal on Friday on technical factors and in response to an increase in tropical activity. The September contract soared to a daily high of $7.090 just after 1 p.m. before backtracking to end the day up only 4.2 cents at $6.731.

August 21, 2006

Futures Weakness Continues; September Loses Another 9.5 Cents

After posting a higher high just after the opening bell at $7.100, the September gas futures contract lost significant ground Wednesday, dropping all the way to $6.590 by early afternoon before rebounding slightly toward the end of the session. September ended the day down 9.5 cents to $6.766/MMBtu.

August 17, 2006

Mirant Plans to Auction International Assets, Buy Back Shares, Focus on U.S.

Only a month after dropping its bid for U.S. independent power producer NRG Energy, Mirant Corp. announced a new strategic plan Tuesday to buy back shares and sell its international operations, including 2,203 MW of power generation in the Philippines and 1,050 MW of generation and several utility businesses in the Caribbean. The company will launch a $1.25 billion modified “Dutch Auction” tender offer on Wednesday for up to 43 million shares of common stock. After the plan is executed, Mirant will retain about 14,161 MW of U.S. power generation.

July 12, 2006

Alberta’s Role as International Gas Supplier on the Decline

Alberta’s role as an international natural gas supplier will decline even though its fledgling coalbed methane industry will compensate for dropping conventional production, the province’s chief regulator predicts. In an annual reserves and production review the Alberta Energy and Utilities Board (AEUB) singles out rising home industrial gas demand as the chief cause of the role switch expected over the next 10 years.

June 19, 2006

Black Hills Ratings Affirmed, Outlook Stays ‘Negative,’ S&P Says

Standard & Poor’s Ratings Services Monday affirmed a “BBB-” corporate credit rating for South Dakota-based Black Hills Corp, dropping a “CreditWatch with negative implications” designation. However, for the firm’s overall outlook, S&P set a “negative” designation.

May 2, 2006

AGL Resources’ Utilities Announce Widespread Customer Refunds, Rate Reductions

With natural gas futures prices dropping more than 50% from their Dec. 13, 2005 high of $15.78, utilities across the U.S. continue to announce refunds and rate reductions for customers — who are paying rates that were adopted during higher prices. Atlanta-based AGL Resources said Thursday that its residential utility customers from New Jersey to Florida will save nearly $45 million this year as a result of recent rate reductions or refunds at all five of its utility operating companies.

March 17, 2006