Finds

With natural gas prices continuing to remain lofty, Americans should prepare themselves for higher utility bills this winter heating season, according to a new survey conducted by NUS Consulting Group. The annual survey found that the average price of natural gas nationwide increased by 4.3% from the period of September 2003 to September 2004.

With natural gas prices continuing to remain lofty, Americans should prepare themselves for higher utility bills this winter heating season, according to a new survey conducted by NUS Consulting Group. The annual survey found that the average price of natural gas nationwide increased by 4.3% from the period of September 2003 to September 2004.

Over the last decade of weekly natural gas storage reports, industry prognosticators have turned withdrawal/injection forecasting into a science, but since the Energy Information Administration (EIA) took over the survey from the American Gas Association in May 2002, the storage forecasts of 34 top firms, including five energy companies, 28 financial houses and one energy consulting firm, still have been off by about 13.2 Bcf/week on average, according to a new study.

Each week dozens of prognosticators toss out their predictions of the weekly gas storage change, the most significant piece of supply and demand information available in the gas market today. But it’s surprising to know that on average the predictions of 34 top firms, including five energy companies, 28 financial houses and one energy consulting firm, have been off by about 13.2 Bcf/week since the Energy Information Administration (EIA) took over the survey from the American Gas Association in May 2002.

Each week dozens of prognosticators toss out their predictions of the weekly gas storage change, the most significant piece of supply and demand information available in the gas market today. But it’s surprising to know that on average the predictions of 34 top firms, including five energy companies, 28 financial houses and one energy consulting firm, have been off by about 13.2 Bcf/week since the Energy Information Administration (EIA) took over the survey from the American Gas Association in May 2002.

For the fourth year in a row, London-based BP plc topped the rankings for the leading oil and natural gas companies and also was a leader in reserves replacement, according to a study by Prudential Equity Group. Prudential studied eight majors’ year-end reports between 1999 and 2003, analyzing production income, earnings quality, reserve replacement ratios, finding and development costs, future net cash flow and the return on exploration and production (E&P) activities.

For the fourth year in a row, London-based BP plc topped the rankings for the leading oil and natural gas companies and also was a leader in reserves replacement, according to a study by Prudential Equity Group. Prudential studied eight majors’ year-end reports between 1999 and 2003, analyzing production income, earnings quality, reserve replacement ratios, finding and development costs, future net cash flow and the return on exploration and production (E&P) activities.

For the fourth year in a row, London-based BP plc topped the rankings for the leading oil and natural gas companies and also was a leader in reserves replacement, according to a study by Prudential Equity Group. Prudential studied eight majors’ year-end reports between 1999 and 2003, analyzing production income, earnings quality, reserve replacement ratios, finding and development costs, future net cash flow and the return on exploration and production (E&P) activities.

Drawing on findings from a benchmarking study of the largest U.S.- and Europe-based oil and natural gas companies, a study by UK-based consultant Wood Mackenzie has found that development expenditures for upstream projects reached record levels over a five-year period ending in 2003 at $49.5 billion compared with $34.6 billion in 1998.