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Given the current sub-$2 natural gas prices and lower crude oil prices, Raymond James & Associates has lowered its forecast for North American oil and gas drilling activity in the first quarter of 2002, but the consulting firm anticipates activity to quickly rebound in the second quarter, fueled by stronger gas prices.

Southwest Gas Corp. said Tuesday that the U.S. District Court for the Southern District of California has given its final approval of a settlement agreement with the lead shareholder representatives of its California shareholder class action lawsuit.

Chevron Corp’s proposed agreement to acquire Texaco Inc. for$35.7 billion in stock would, if given the go-ahead by federalregulators, put the merged company into the “Super Major” League ofproducers worldwide and domestically. It would create the thirdlargest natural gas and oil producer in the United States.

Given the nation’s growing appetite for natural gas, especially by the power generation sector, state and local governments are going to have to step up to the plate and play a greater role in the coordination of permitting and environmental-review efforts so that the pipeline and distribution infrastructure needed to support the expanding demand can be built, according to a new joint report.

Given the lack of widely agreed-to solutions and an increase in disagreements among parties, anticipation will be high and expectations low this week in California’s complicated political and regulatory energy landscape that promises to heat up with the return of the state legislature and a crucial business meeting of the state regulatory commission.

FERC staff has given a preliminary environmental nod to Iroquois Gas Transmission’s $174 million Eastchester Expansion Project to serve the New York market.

Given the higher production levels and moderate summer temperatures (at least until last week), spot natural gas prices are likely to hover around $3/Mcf for the rest of the third quarter and rise later in the year, said the Energy Information Administration (EIA) last week in its Short-Term Energy Outlook for August.

Given the higher production levels and moderate summer temperatures (at least until now), spot natural gas prices are likely to hover around $3/Mcf for the remainder of the third quarter and increase moderately later in the year, said the Energy Information Administration (EIA) in its Short-Term Energy Outlook for August.

FERC has given a final environmental nod to Florida Gas Transmission (FGT) for an incremental expansion of its existing 1.7 Bcf/d natural gas transportation system to 2.1 Bcf/d.