Favorable economics for natural gas liquids (NGL) are driving a flurry of projects proposed for the Appalachian Basin’s Marcellus Shale, but executives at major midstream player Enterprise Products Partners LP are asking, “Where’s the market?”
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Late-Session Fall Casts Doubts on April Contract
April natural gas futures plunged at the close of trading Friday amidst a flurry of spread trades that sent out bearish vibrations and cast doubt about further gains in the April contract. April futures lost 6.3 cents to close at $3.932, and May dropped 4.9 cents to close at $4.006. April crude oil shed 78 cents to close at $46.25/bbl.
Senate Offers Bills to Expand CFTC’s Regulatory Reach, Funding
In light of growing concerns about the impact of speculation in energy markets, senators have offered a flurry of measures that would extend the regulatory arm of the Commodity Futures Trading Commission (CFTC), as well as immediately increase its funding.
BLM Defers 37 Parcels From Upcoming Colorado Lease Sale
The Bureau of Land Management (BLM), which had received a flurry of protests calling for the removal of nearly all 172 parcels from an upcoming oil and gas lease sale in Colorado, said last Tuesday it will defer 37 of the parcels “in order to conduct additional analysis and public outreach with local communities.”
BLM Defers 37 Parcels From Upcoming Colorado Lease Sale
The Bureau of Land Management (BLM), which had received a flurry of protests calling for the removal of nearly all 172 parcels from an upcoming oil and gas lease sale in Colorado, said Tuesday it will defer 37 of the parcels “in order to conduct additional analysis and public outreach with local communities.”
Power Companies Target Texas, New York for Wind Projects
The flurry of new wind power project developments continued unabated last week, with AES Corp. entering into a joint venture (JV) to develop wind generation projects in New York state and FPL Energy LLC and ScottishPower unveiling new wind power projects that will be built in Texas and New York, respectively.
Bearish Storage And Weather Suppress Potential Short-Covering Again Monday
After a flurry of activity that first dropped and then boosted prices in the first 70 minutes of trading, the August natural gas contract settled down to trade quietly sideways for the remainder of its penultimate trading session Monday. With the contract set to expire Tuesday at 2:30 p.m. EDT, and weather and storage outlooks unchanged from last week, neither bull nor bear were willing or able to exert a price move in their favor.
Competing Storage Projects Ramp-Up to Serve Southeast
Adding to the recent flurry of natural gas storage projects headed for Mississippi to serve the Southeast, Petal Gas Storage LLC, a subsidiary of El Paso Energy Partners LP, said Thursday that it is holding a non-binding open season for up to 5 Bcf of firm natural gas storage capacity in order to evaluate market interest in proposed plans to expand its facility in Petal, MS. The capacity is anticipated to be available for use by Jan. 1, 2004.
TransCanada Tax Plan Has NEB Scrambling
An attempt to score a quick tax coup by TransCanada PipeLines Ltd. has set off a flurry of activity among legal and regulatory experts before the National Energy Board. Savings of C$8 million (US$5.3 million) per year off continuing taxes — plus a reduction of C$75 million (US$50 million) off deferred tax liabilities — are projected by the company if it can carry out its plan.
TransCanada Tax Plan Has NEB Scrambling
An attempt to score a quick tax coup by TransCanada PipeLines Ltd. has set off a flurry of activity among legal and regulatory experts before the National Energy Board. Savings of C$8 million (US$5.3 million) per year off continuing taxes — plus a reduction of C$75 million (US$50 million) off deferred tax liabilities — are projected by the company if it can carry out its plan.