Experienced

With an arctic air mass poised to deliver what The Weather Channel called “some of the coldest weather the region has experienced in a year or two” into the Northeast Thursday, several citygates there saw huge spikes in Wednesday trading. Transco’s Zone 6-New York City pool saw a top quote of $30 as the point’s average soared by more than $11 to just over $20.

The energy markets experienced a roller-coaster ride in 2006 as hurricane and weather forecasts ultimately ended up missing their marks, while electronic energy trading competition increased and the banks in the energy merchant sector continued to evolve from peripheral participants to core market players.

The energy markets experienced a roller-coaster ride in 2006 as hurricane and weather forecasts ultimately ended up missing their marks, while electronic energy trading competition increased and the banks in the energy merchant sector continued to evolve from peripheral participants to core market players.

Despite the U.S. having just experienced its fourth warmest December since records began in 1895 (see related story), AccuWeather chief long-range forecaster Joe Bastardi said the unseasonably warm winter to date in the United States is likely to “turn on a dime” this month. If his forecast proves true, natural gas and power prices could be jolted higher, as already evidenced by the natural gas futures market’s response to these cold front warnings.

Despite the U.S. having just experienced its fourth warmest December since records began in 1895 (see Daily GPI, Jan. 10), AccuWeather chief long-range forecaster Joe Bastardi said the unseasonably warm winter to date in the United States is likely to “turn on a dime” this month. If his forecast proves true, natural gas and power prices could be jolted higher, as already evidenced by the natural gas futures market’s response to these cold front warnings.

Questar said Friday it has been informed that repairs to Greasewood Compressor Station, which experienced a mechanical failure Dec. 16 (see Daily GPI, Dec. 19) will not be completed until Jan. 8.

A nonaffiliated worker was killed when ANR experienced a pipe rupture about 10 a.m. EST Tuesday in Cass County, MI. The blast occurred on a 24-inch diameter tie line connecting the Bridgman, La Grange and Defiance compressor stations, said a spokesman for ANR parent firm El Paso Corp. There was no fire, but an employee of Midwest Energy Cooperative who was doing work in the vicinity was fatally injured, he added. An investigation is under way. There was no service impact.

Backed by an equity commitment from Warburg Pincus and experienced former Pioneer Natural Resources executives, Dallas-based Broad Oak Energy Inc. is ramping up efforts to explore and develop tight natural gas leaseholds, initially in southern Texas and northern Louisiana.

Backed by an equity commitment from Warburg Pincus and experienced former Pioneer Natural Resources executives, Dallas-based Broad Oak Energy Inc. is ramping up efforts to explore and develop tight natural gas leaseholds, initially in southern Texas and northern Louisiana.