Ending

Cash prices moved sharply lower on Friday for the Columbus Day weekend despite the surprisingly rapid rise in the natural gas futures market. While November futures ended the day up more than 30 cents, mild weekend weather and weak demand left cash with nowhere to go but down. Most points tumbled 10-20 cents, which put many locations back down near bidweek levels.

Ending an almost two-year-old argument over $6.8 million in levied penalties stemming from the winter of 2000-2001, the Virginia State Corporation Commission (VSCC) last week accepted a settlement agreement between Columbia Gas of Virginia and its transportation customers, stating that the matter can now be part of the commission’s file for “ended causes.”

Ending months of speculation, Oneok Inc. said Thursday that it has decided not to purchase Westar Energy Inc.’s 42.5% stake in Oneok. The company’s board of directors said it decided that Oneok’s energies would be better spent on focusing on building shareholder value through growth, profitability and performance.

Ending an almost two-year-old argument over $6.8 million in levied penalties stemming from the winter of 2000-2001, the Virginia State Corporation Commission (VSCC) on Monday accepted a settlement between Columbia Gas of Virginia and its transportation customers, stating that the matter can now be part of the commission’s file for “ended causes.”

Two announcements by Aquila Inc.’s board of directors late Thursday spun the company’s stock to its lowest level in 14 years Friday, ending with a loss of 14% in heavy trading. Shares were off $1.75 and ended the day at $10.50. A year ago, the company — then named UtiliCorp — was trading at $35.55. Investors fled on two announcements: the board is reviewing Aquila’s dividend policy “as a means of addressing concerns relating to its credit ratings”; and the Securities and Exchange Commission (SEC) has issued an “informal” data request on the company’s “round-trip” trades.

Taking the offensive in a never-ending quest to secure a natural gas pipeline for his state, Alaska Gov. Tony Knowles on Wednesday touted the gain from new investments, billions of new revenue and lower gas prices if Canadian leaders lend their support to a proposed U.S. tax credit to spur pipeline construction. The Alberta and the Yukon Territories premiers appear to support the Alaska plan, but Knowles still needs approval of other more wary leaders, including the Northwest Territories, which would rather spurn Alaska altogether.

Ending a long-running dispute between Florida’s state government and petroleum companies with production interests offshore Florida, President Bush last week announced that the U.S. government will buy back most of the oil and natural gas leases in the Destin Dome area offshore Pensacola, FL, as well as drilling rights in the Florida Everglades ecosystem. While the agreements will preserve some of Florida’s most significant natural treasures, major gas producers said the decision to remove these areas from exploration and development will be a “major hit to natural gas supply” for the country.

The first steps have been taken toward ending a 30-year-old ban against drilling offshore of Canada’s west coast, a region projected to harbor 42 Tcf of natural gas. A technical review panel of three blue-chip experts, following months of consultations with specialists, declared there is no scientific basis for continuing the moratorium.

Canada’s newly appointed natural resources minister is considering ending a ban against drilling in one of the nation’s most environmentally-sensitive spots, the Queen Charlotte Islands area offshore of British Columbia. Herb Dhaliwal pledged to keep an open mind — and hinted at adopting an encouraging attitude toward industry expansion in British Columbia — after an introductory meeting in Calgary with the Canadian Association of Petroleum Producers. Dhaliwal said he will be “very interested” to see the forthcoming report of a review panel that has been reconsidering Canada’s 30-year-old West Coast drilling moratorium since last summer.