Exchange

Goldman Sachs last week raised its 2010 gas production forecast and lowered its New York Mercantile Exchange (Nymex) price forecast for the year to $6/MMBtu from $7.30/MMBtu. The firm also introduced a 2011 Nymex forecast of $6.50/MMBtu.

Goldman Sachs on Thursday raised its 2010 gas production forecast and lowered its New York Mercantile Exchange (Nymex) price forecast for the year to $6/MMBtu from $7.30/MMBtu. The firm also introduced a 2011 Nymex forecast of $6.50/MMBtu.

The Securities and Exchange Commission (SEC) has released updated accounting guidance to implement the agency’s new rulemaking on the reporting of oil and natural gas reserves.

The Securities and Exchange Commission (SEC) Friday released updated accounting guidance to implement the agency’s new rulemaking on the reporting of oil and natural gas reserves.

In the latest exchange in an ongoing war of words between Florida Gas Transmission (FGT) and Florida Power & Light Co. (FP&L), FP&L on Monday said the pipeline’s request for increased transportation rates proved that the state needs increased competition — preferably through FP&L’s proposal to build its own 280-mile intrastate pipeline to move natural gas north to Bradford County from Palm Beach County. According to FGT, the utility’s statement was an attempt to distract customers and regulators from FP&L’s own proposed rate increase and a pending decision on the pipeline proposal.

The heads of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) said last week they are prepared to issue a joint report to Congress in two weeks that will address key areas in which their regulatory schemes are different. The government agencies will also recommend legislative and regulatory actions to address those differences.

The heads of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) said Wednesday they are prepared to issue a joint report to Congress in two weeks that will address key areas in which their regulatory schemes are different. The government agencies will also recommend legislative and regulatory actions to address those differences.

Natural gas futures gave up almost all of Tuesday’s gains and settled stoutly lower Wednesday in active trading on the New York Mercantile Exchange. The floor was abuzz with talk of the August contract moving sharply lower, and one set of estimates surfaced that put Thursday’s expected storage addition ahead of long-term averages.

The former CEO and former CFO of Quest Resource Corp. last week were sued by the Securities and Exchange Commission (SEC) for allegedly siphoning millions of dollars from the Oklahoma City-based producer. Separately a federal grand jury in Oklahoma City issued a criminal indictment against the CFO.