Estimated

An estimated $1.7 billion, or 17% of $9.9 billion in total royalty revenues collected, was distributed to 35 states in fiscal year 2005 as their share of the federal revenues derived from oil and natural gas production, the Interior Department’s Minerals Management Service (MMS) said.

An estimated 650 Bcf of Gulf natural gas production will have been lost — or more than twice the amount of gas lost to date (321 Bcf) since Hurricane Katrina struck in late August — by the time industry fully recovers in early 2006, FERC staff said in a market assessment of the upcoming heating season that was released Thursday. That would mean that 18% of the Gulf’s annual gas output would be lost as a result of hurricane-related damages. The agency also projected that almost 2 Bcf/d will remain shut in during the November-through-March winter period.

FERC on Tuesday issued a certificate to Williams’ Northwest Pipeline authorizing an estimated $333 million project to replace natural gas delivery capacity on the pipeline system in western Washington State.

West Virginia regulators have approved the sale of Mountaineer Gas, the largest local natural gas distribution company in the state, and its other gas assets for an estimated $130 million in cash and $87 million in debt, as well as an increase in Mountaineer’s base rates, said parent company Allegheny Energy Inc. Wednesday.

FERC staff in a final environmental review recommended approval of an estimated $333 million project to replace natural gas delivery capacity on Williams’ Northwest Pipeline in western Washington State.

Calpine Corp. on Thursday completed the sale of all of its domestic oil and natural gas exploration and production assets for $1.05 billion, less $60 million of estimated fees, to Rosetta Resources Inc., a former indirect subsidiary. With the completion of the sale, Calpine expects to record a gain of about $350 million.

BP plc on Tuesday estimated 2Q2005 oil and natural gas production will be about 4.101 MMboe/d, flat sequentially, but up about 3.5% from the 3.971 MMboe/d reported for the same period a year ago. The London-based major reiterated that its average full-year production is expected to range between 4.1 and 4.2 MMboe/d.

In order to reflect estimated changes in the cost of natural gas for the remaining summer season, the Missouri Public Service Commission (MPSC) said Monday that natural gas rates will increase for Laclede Gas Co. customers under a scheduled filing taking effect on June 14 (Tuesday). The commission reported that the rate change is interim subject to refund. Under the hike, a residential customer currently paying approximately $0.77 per therm for natural gas will see an increase to approximately $0.78 per therm. This increase in rates will result in the average residential customer paying approximately 1% more for natural gas in June through October versus what they would pay if current rates did not change. Under tariffs on file with the commission, Laclede Gas is scheduled to make four filings each year (January, March, June and November) to reflect the wholesale supplier cost of natural gas. The next scheduled filing is November 2005.Laclede Gas Company serves approximately 631,000 natural gas customers in the City of St. Louis as well as the Missouri counties of St. Louis, St. Charles, Butler, Iron, Franklin, Jefferson, Madison, St. Francois and Ste. Genevieve.

Florida Power & Light Co. (FP&L) plans to build a 2,200 MW gas-fired power plant in Palm Beach County, FL, at an estimated price tag of $1.2 billion, a spokesperson for the power company told NGI last week.