Examination

The Commodity Futures Trading Commission (CFTC) is remaining tight lipped about a reported examination of Nymex natural gas futures trades made in advance of the Energy Information Administration’s (EIA) Feb. 7 storage report for the week ending Feb. 1.

The Commodity Futures Trading Commission (CFTC) is remaining tight lipped about a reported examination of Nymex natural gas futures trades made in advance of the Energy Information Administration’s (EIA) Feb. 7 storage report for the week ending Feb. 1.

In an examination of the Rockies basis to Henry Hub blowout earlier this month — which saw Opal basis collapse to minus $6.71/MMBtu and Cheyenne Hub basis plummet to minus $7.23/MMBtu — Bentek Energy LLC finds “not much relief in sight” this summer for the region’s producers.

In an examination of last week’s Rockies basis to Henry Hub blowout — which saw Opal basis collapse to minus $6.71/MMBtu and Cheyenne Hub basis plummet to minus $7.23/MMBtu — Bentek Energy LLC finds “not much relief in sight” this summer for the region’s producers.

The Texas Railroad Commission (TRC) has failed to meet a mandate from the legislature in its examination of competition in the state’s midstream natural gas business, asserts the Texas Independent Producers and Royalty Owners Association (TIPRO).

Federal prosecutor John Hueston’s cross-examination of Enron Corp. founder Kenneth Lay was more polite on Thursday, but a couple of “gotcha” moments appeared to catch Lay off guard. Speaking to a packed courtroom, Hueston sparred with Lay about the six criminal charges against him, but the prosecutor also managed to land a couple of sucker punches, including the humiliating revelation that Lay’s own son had been a short seller of Enron stock in March 2001.

In a tense and at times angry cross-examination Tuesday, federal prosecutor Sean Berkowitz pressed ex-Enron Corp. CEO Jeffrey Skilling about his involvement in the alleged accounting fraud at the former energy giant. However, Skilling, who argued with the prosecutor and at one point flashed his well-known temper, denied he was ever involved in any alleged schemes and remained adamant about his innocence.

Following seven days on the witness stand, the cross-examination of former Enron Corp. investor relations chief Mark Koenig in the trial of Enron founder Kenneth Lay and former CEO Jeffrey Skilling was finally completed on Monday. Koenig told the jury the special purpose entities (SPE) designed by former CFO Andrew Fastow were criticized internally at least two years before the company went bankrupt.

After a re-examination of its prior forecasts in light of the upheaval in the energy markets last year, the American Gas Association has concluded that its prior gas demand projection may have been a little on the high side and its price forecast quite a bit too low. In an update of its February 2000 report “Fueling the Futures: Natural Gas and New Technologies for a Cleaner 21st Century,” AGA said demand now is projected to grow 53% (up 33.6 quadrillion Btus) by 2020 rather than the 60% (35 quads) it projected earlier and prices should reach $5.60 in 2020.