Despite notching new annual volume records for the fifthconsecutive year since NGI started ranking gas marketers, the paceof volume growth in the gas and power marketing businesses hasshown some signs of decline.
Fifth
Articles from Fifth
Energy Industry Told to ‘Embrace E’
Today’s conference was brought to you by the letter E. Indeed,the fifth letter of the alphabet loomed large on the first day ofthe Cambridge Energy Research 19th annual Executive Conference inHouston yesterday.
Hurricane Season Packs 1-2, 3, 4, 5 Punch
Hurricane Georges roared through a deserted eastern Gulf of Mexico today, the fifth of what has been an alphabet soup of named storms to hit in four of the last five weeks, once again sending producers scurrying for shore, shutting in production or putting wells on automatic pilot.
Foundering Futures Close Out July Trading
The futures market concluded what one trader described as a”tumultuous trading week” by slipping for the fifth straight day,leaving futures at their lowest level since March 1997. There was alittle something for everyone in the market last week: speculativeselling, a bullish storage report, and even a little hurricanehype. The only thing missing from trading last week was a dayregistering a gain. That left even the most bullish of tradersscratching their horns wondering when the market will reverse itsdowntrend. The September contract closed at $1.844 on Friday, down6.2 cents. Friday’s With that, the market concluded the month ofJuly. A month that saw major declines in both cash and futuresmarkets eroding the September contract nearly 30 percent of itsJuly 1 value.
Anadarko Bemoans Earnings, Boasts New Field
Anadarko Petroleum lamented low oil prices when it reportedsecond quarter net income that was about one-fifth what it was inthe same period last year. For the second quarter net incomeapplicable to common stockholders was $2.7 million Revenues were$137.6 million. By comparison, net income for the second quarter of1997 was $13.8 million on revenues of $139 million.
Downtrend Dominates Futures; August Slips Back Below $2
For the fifth Monday in a row the bears were dominant in the pitat Nymex as trade and speculative selling pushed natural gas down,effectively erasing gains registered on Friday. Most of the day’smovement happened on the open, leaving the August contract to tradein the mid $1.90s for the rest of the day before closing at $1.965,down 6.6 cents.