Continued strong crude oil prices and weak prices for natural gas in 2011 will make for a positive story for natural gas liquids (NGL), perhaps excluding ethane, Copano Energy LLC CEO Bruce Northcutt told financial analysts last Friday.
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The Money in the Middle
Continued strong crude oil prices and weak prices for natural gas in 2011 will make for a positive story for natural gas liquids (NGL), perhaps excluding ethane, Copano Energy LLC CEO Bruce Northcutt told financial analysts Friday.
North American Unconventionals Drive Halliburton Profits
The sustained push to unlock shale gas and oil across North America drove Halliburton Inc.’s profits in the third quarter, CEO Dave Lesar said Monday.
Devon’s Quarterly Earnings Jump 125%
Devon Energy Corp. reported net earnings of $706 million ($1.58/share) in 2Q2010, a 125% increase compared with year-ago net earnings of $314 million (71 cents), the company reported Wednesday. Excluding one-time items the Oklahoma City-based independent earned $685 million ($1.53/share).
Most Points Near Flat in Mixed Price Movement
Excluding double-digit gains at Northeast citygates, only a few other points moved more than a dime up or down from unchanged Thursday. Friday’s low temperatures were predicted to get colder in the Midcontinent, Northeast, Midwest and Rockies, but they were often counterbalanced to some extent by forecasts of relatively moderate highs. Wednesday’s decline of 1.1 cents by March futures had scant impact in pushing the cash market either way.
Slowing Growth, Regulation Hit Southwest Gas; 2Q Loss Reported
Quarterly results were essentially flat when excluding nonrecurring items for Southwest Gas Corp. which faces the challenge of fine tuning its strategy for maximizing its regulatory climate and gaining rate changes. Last week the Las Vegas, NV-based company reported a loss of $337,000, or 1 cent/share, for the second quarter, compared with profits of $3.7 million, or 9 cents/share, for the same period last year.
Slowing Growth, Regulation Hit Southwest Gas; 2Q Loss Reported
While second quarter results were essentially flat when excluding nonrecurring items, the continuing moderation of growth in Nevada and Arizona challenges Las Vegas, NV-based Southwest Gas Corp. to fine tune its strategy for maximizing its regulatory climate and gaining rate changes that minimize weather and seasonal impacts on its rates. Southwest reported a loss of $337,000, or 1 cent/share, for the second quarter Monday, compared with profits of $3.7 million, or 9 cents/share for the same period last year.
Transportation Notes
Vector Pipeline said for Wednesday deliveries would be restricted to 640,000 Dth/d at Dawn and zero at Courtright until the pipeline is able to run a cleaning pig. Excluding the St. Clair delivery point, this restriction does not impact receipts and/or deliveries at any other locations on the Vector U.S. system.
CFTC Requires Exchanges to Install Public Directors, Oversight Committees
The Commodity Futures Trading Commission (CFTC) released new requirements last Thursday that futures exchanges install “public” directors — excluding exchange members, employees and officers — to their boards and disciplinary panels and create new regulatory oversight committees made up entirely of public directors.
CFTC Requires Exchanges to Install Public Directors, Oversight Committees
The Commodity Futures Trading Commission (CFTC) released new requirements Thursday that futures exchanges install “public” directors — excluding exchange members, employees and officers — to their boards and disciplinary panels and to create new regulatory oversight committees made up entirely of public directors.