Electronically

Even though the Pine Ridge fire in western Colorado near the Piceance Basin was deemed less aggressive and more than 25% contained over the weekend, natural gas operators indicated that they will keep their well operations shut for the foreseeable future and are working closely with local authorities and the federal Bureau of Land Management (BLM), which are overseeing the fire-fighting efforts.

Looking to gain a more thorough picture of what goes on in the electronically traded futures markets, the Commodity Futures Trading Commission (CFTC) has proposed a rule that would allow the government organization to collect on a weekly basis certain ownership, control and other information for all trading accounts active on U.S. futures exchanges and other reporting entities.

Looking to gain a more thorough picture of what goes on in the electronically traded futures markets, the Commodity Futures Trading Commission (CFTC) has proposed a rule that would allow the government organization to collect on a weekly basis certain ownership, control and other information for all trading accounts active on U.S. futures exchanges and other reporting entities.

When the New York Mercantile Exchange (Nymex) announced it would begin trading its energy contracts around the clock electronically, some industry veterans expected the new format to perform well, but few expected it to become more popular than the 134-year-old exchange’s method of open outcry trading in the pits. However, that has been the case as of late in Nymex’s crude oil futures contracts, while volume share in Nymex’s natural gas futures contracts still show mixed results.

When the New York Mercantile Exchange (Nymex) announced it would begin trading its energy contracts around the clock electronically, some industry veterans expected the new format to perform well, but few expected it to become more popular than the 134-year-old exchange’s method of open outcry trading in the pits. However, that has been the case as of late in Nymex’s crude oil futures contracts, while volume share in Nymex’s natural gas futures contracts still show mixed results.

FERC last Thursday issued a final rule that implements provisions of the Energy Policy Act of 2005 (EPAct) giving the Commission the authority to coordinate the schedule of other federal and state agencies in processing natural gas pipeline, liquefied natural gas (LNG) and storage projects and to maintain a consolidated record of all agency decisions for use in judicial reviews.

Main Street AC Inc., based in San Diego, has wired funds to complete payment for all of the Aquila Inc. shares tendered electronically between Aug. 28 and Sept. 10. The total cash price paid was $5.45 per share net, but Main Street did not disclose how many of the company’s shares it was tendered. Tendering Aquila shareholders who directly received the Sept. 12 quarterly dividend, or who tendered their shares to Main Street ex-dividend were debited the $0.175 per share cash dividend already paid to them, if those funds were not otherwise forwarded to Main Street. As a result, their cash payment from Main Street was $5.27.5 per share. Other than offsets for cash payments made directly to holders, no other fees, commissions or other deductions are allowed under the Main Street offers. Main Street made a tender offer to acquire up to 4.9% of Aquila, Dynegy Inc., Reliant Resources Inc. and Mirant Corp. in late August, and has already announced payment for an unknown amount of Dynegy shares (see Daily GPI, Sept. 12; Sept. 4).