Estimates

Reflecting estimates for higher than estimated wholesale natural gas costs, the Nevada Public Utilities Commission Wednesday approved a 9.2% retail rate hike for Las Vegas-based Southwest Gas Corp., and the utility immediately issued an announcement warning customers they face higher heating bills this winter. Southwest Gas had asked for a 5% hike, but the regulatory commission on further estimating wholesale prices bumped it up to $30 million.

In a maelstrom of bullish news, Sempra Energy Thursday not only reported sharply increased third quarter and nine-month earnings results, but also increased its overall profit projections for the year, predicting bigger growth in all three main business units and a reorganization effective next year that will split up its lagging energy services business.

In a maelstrom of bullish news, Sempra Energy Thursday not only reported sharply increased third quarter and nine-month earnings results, but also increased its overall profit projections for the year, predicting bigger growth in all three main business units and a reorganization effective next year that will split up its lagging energy services business.

In a maelstrom of bullish news, Sempra Energy Thursday not only reported sharply increased third quarter and nine-month earnings results, but also increased its overall profit projections for the year, predicting bigger growth in all three main business units and a reorganization effective next year that will split up its lagging energy services business.

Houston-based independent Marathon Oil Corp. estimates that oil and natural gas production for the third quarter will total approximately 304,000 boe/d, down from an earlier estimate of 337,000 boe/d because of the impact of hurricane activity in the Gulf of Mexico (GOM) the company said. It also blamed a “later than anticipated” complete ramp-up of liquids production in Equatorial Guinea and other “unplanned downtime” in the quarter.

Led by disappointing natural gas production by the majors, U.S. natural gas output is on a trajectory to decline 3.9% year-over-year in 2004, despite a robust 1,016 average gas rig forecast, according to a survey issued last week by Southwest Securities (SWS) of 43 top domestic producers. The survey concluded that U.S. gas production was flat sequentially and declined 4.9% versus 2Q2003.

Led by disappointing natural gas production by the majors, U.S. natural gas output is on a trajectory to decline 3.9% year-over-year in 2004, despite a robust 1,016 average gas rig forecast, according to a survey by Southwest Securities (SWS) of 43 top domestic producers. The survey concluded that U.S. gas production was flat sequentially and declined 4.9% versus 2Q2003.

The cost of the energy tax package that the Senate passed last month as part of broader tax corporate tax cut legislation (S. 1637) keeps creeping upwards.

The cost of the energy tax package that the Senate passed earlier this month as part of broader tax corporate tax cut legislation (S. 1637) keeps creeping upwards.