Gathering momentum as the trading session wore on Thursday, natural gas futures extended to new six-week highs as traders were forced to grapple with the bullish one-two combination of strength in the crude oil market and a lower-than-expected 53 Bcf storage injection for the week ending Aug. 9. The September and October contracts caught the biggest updraft from the buying, each gaining 21.7 cents to close at $3.127 and $3.172 respectively. At 139,856, volume for all the contracts in the gas pit was heavy and served to punctuate the price move.
Gathering
Articles from Gathering
Devon, Williams Said to Want Barrett
Barrett Resources Corp.’s move to provide “strategic alternatives” to its shareholders, and thus, increase the value if it is taken over, appears to have paid off. This week, the Denver-based independent apparently received at least two more bids to compete with Royal Dutch/Shell Group’s offer of $60 a share. Barrett had set a deadline of Wednesday for other companies to make an offer.
May 4, 2001
TransCanada to Expand Alberta/B.C.
Gathering TransCanada has received significant market interest for a 227 MMcf/d expansion of its Nova Gas Transmission system and 216 MMcf/d of its B.C. System. It will make the necessary regulatory filings when it has the signed contracts in hand.
March 26, 2001
TransCanada to Expand Alberta/B.C.
Gathering TransCanada has received significant market interestfor a 227 MMcf/d expansion of its Nova Gas Transmission system and216 MMcf/d of its B.C. System. It will make the necessaryregulatory filings when it has the signed contracts in hand.
March 26, 2001
Black Marlin Sold to Williams
The various owners of the Black Marlin Pipeline System, a75-mile long natural gas and condensate gathering system in theGulf of Mexico, have sold the line to Williams Field Services for$9.25 million. The line was purchased from Blue Dolphin Energy, a50% owner, MCNIC Pipeline & Processing Co., a 33.33% owner, andWBI Holdings, Inc., a 16.67% owner. The sale includes related shorefacilities servicing the High Island area.
January 23, 2001
Fort Union Plans Powder River Expansion
Building on increased Powder River Basin production, Fort Union Gas Gathering LLC has announced plans for a 200 MMcf/d expansion of capacity on its system.
January 22, 2001
El Paso Closer to Acquiring PG&E’s Texas Assets
El Paso Energy Corp. is closer to acquiring PG&E Corp.’sTexas gathering and liquids businesses for about $840 million instock and debt after signing a consent agreement earlier this week.The deal includes 8,500 miles of natural gas transmission pipelinesthat transport about 2.8 Bcf/d, nine processing plants that process1.5 Bcf/d, and a 7.2 Bcf natural gas storage field.
November 1, 2000
Nova Lateral Ruptures, Curtails 50 MMcf/d
A Nova Gas Transmission 12-inch-diameter gathering line explodedSept. 2, causing a fire that injured a pipeline employee. Theemployee was treated and released. The rupture, which occurred onthe northwestern part of Nova’s Alberta pipeline system about 60miles north of Fairview, AB also forced the curtailment of about 50MMcf/d of gas.
September 11, 2000
Nova Lateral Ruptures, Curtails 50 MMcf/d
A Nova Gas Transmission 12-inch-diameter gathering line explodedover the weekend, causing a fire that injured a pipeline employee.The employee was treated and released. The rupture, which occurredon the northwestern part of Nova’s Alberta pipeline system about 60miles north of Fairview, also forced the curtailment of about 50MMcf/d of gas.
September 6, 2000
IOGCC Calls for National Energy Policy to Address Cost
Coming at a time when a national plan is gathering more supportas energy prices have escalated at the pump and in homes andbusinesses, the governors of the 30 U.S. oil and gas producingstates have begun their push for an official national energypolicy, offering their own four-pronged strategy.
August 14, 2000
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