Eight

Stone Energy Corp. has announced that the acquisition of interests in eight producing oil and gas properties and related assets located in the Gulf of Mexico was completed on Dec. 31, 2001. The final aggregate purchase price, as previously announced, was $299.7 million and was financed with net proceeds from Stone’s recently completed offering of $200 million of 8.25% senior subordinated notes due 2011, and borrowings under its bank credit facility.

Stone Energy Corp. announced Wednesday that the acquisition of interests in eight producing oil and gas properties and related assets located in the Gulf of Mexico was completed on Dec. 31, 2001. The final aggregate purchase price, as previously announced, was $299.7 million and was financed with net proceeds from Stone’s recently completed offering of $200 million of 8.25% senior subordinated notes due 2011, and borrowings under its bank credit facility.

Citing the current weather forecast and projected system demand, Sonat notified shippers Monday that eight market-area groups (Birmingham Group, South Main Zone 2, Atlanta Group, South Main Zone 3, East of Wrens, South Georgia-Lee County, Brunswick Group and Savannah Group) will be subject to an OFO Type 3 effective with the start of today’s gas day (Wednesday) until further notice. Concurrent with the OFO, Sonat also will be allocating/limiting interruptible capacity in the Chattanooga Group, East Tennessee Group and North Alabama Group.

With winter finally arriving after a string of eight weeks of warmer than normal weather, gas demand is on the rise but probably not enough to put a dent in the storage surplus compared to levels last year, according to experts. Withdrawals during this period last year were substantial and continue to be difficult to match.

Based on cold weather forecasts and projected demand, Sonat issued an OFO Type 3 for eight market-area groups, effective Tuesday until further notice. See the bulletin board for a list of affected delivery points.

After waiting nearly eight months for a response, the Natural Resources Defense Council (NRDC) filed a lawsuit in federal court in Washington, DC, last week to force the Department of Energy (DOE) to produce records related to its role on the White House task force that developed the national energy policy.

After waiting nearly eight months for a response, the Natural Resources Defense Council (NRDC) filed a lawsuit in federal court in Washington, DC, to force the Department of Energy (DOE) to produce records related to its role on the White House task force that developed the national energy policy.

If you are a futures bear, it goes without saying that you have had quite a run over the past eight months. After all, the market has repeatedly given you price-negative technical and fundamental news on which to trade. And even when the market was hit with a bullish influence such as a tropical storm or a round of short-covering, the rally has been short-lived. In possibly the crowning example of this bearishness, the American Gas Association announced yesterday not only that a whopping 86 Bcf had been injected into storage last week, but also that they were forced to revise — as many market participants had expected — the refill from the week prior from 3 Bcf to 50 Bcf.

Although more than eight in 10 Virginians say they are very or somewhat interested in the state’s upcoming competitive market for natural gas and electricity services, a similar number say they need more information before making a decision on whether to select a new provider of energy services, according to a recently released survey.