Exceeded

Additions to proved reserves of U.S. natural gas exceeded production by 31% in 2001, and crude oil reserves additions were 121% of production, according to an advance summary released Friday of annual statistics reported by the Energy Information Administration (EIA).

Marking the fifth year in a row that it has met or exceeded its earnings growth commitments to Wall Street, UtiliCorp United reported Thursday full-year 2001 operating earnings of $2.44 per diluted share, a 17% increase over the previous year’s operating earnings per diluted share of $2.08. Earnings before interest and taxes (EBIT) for 2001 were $704.7 million, up 31% from $540 million a year earlier. The company also reported that sales for the year were up 39%, from $29 billion in 2000 to $40.4 billion for 2001.

FERC has cited three California power suppliers for selling electricity during Stage Three emergencies in May at prices that exceeded the allowed limit established by the Commission.

FERC cited only one California power supplier for selling electricity during Stage III emergencies in May at prices that exceeded the allowed limit established by the Commission.

Dynegydirect, the B2B portal and trading site launched by Houston-based Dynegy Inc. that began trading Nov. 1, announced it had exceeded $1.5 billion in online notional transactions by early last week, with more than $1 billion of the energy and communications commodity transactions generated by new customers. The site now has more than 400 registered users (see NGI, Oct. 23).

Dynegydirect, the B2B portal and trading site that was launchedby Houston-based Dynegy Inc. and began trading Nov. 1, has alreadyexceeded $1.5 billion in online notional transactions, with morethan $1 billion of the energy and communications commoditytransactions generated by new customers. The site now has more than400 registered users (see Daily GPI, Oct. 17).

AGL Resources’ fiscal third quarter marks the third consecutive quarter the company has exceeded analysts’ predictions. The results also signify the first steadily increasing earnings trend after becoming the first gas utility to completely exit the gas merchant function.

AGL Resources’ fiscal third quarter marks the third consecutivequarter the company has exceeded analysts’ predictions. The resultsalso signify the first steadily increasing earnings trend afterbecoming the first gas utility to completely exit the gas merchantfunction.

Nominations exceeded capacity at NOVA’s Eastern Gate Tuesday,causing a restriction of about 270 MMcf/d, or 46% of IT capability.