Good

Growth in any industry is considered a good thing, right? In most cases, that’s true, but the rapid growth of service territories for many U.S. electric transmission and distribution (T&D) investor-owned utilities (IOU) has led to significant credit pressure because of the two-fold dilemma they sometimes face in adding new customers, according to a report from Standard & Poor’s Ratings Services (S&P).

Not one to pass up a good price, Consol Energy said it has sold 83-86% of its expected 2003 natural gas production, or about 44.8 Bcf out of an expected 52-54 Bcf of gas, at an average fixed price of $3.99/MMBtu. The company also noted it sold 7.4 Bcf of gas to be produced in 2004 at a price of $4.16/MMBtu, and 7.4 Bcf of gas to be produced in 2005 at $3.97/MMBtu.

With Rockies basis soaring into the $2.80s in September, Colorado Interstate Gas has picked a good time to relaunch its proposed 400-mile Cheyenne Plains pipeline project (formerly called Coastal Connection), which would provide greater takeaway capacity for growing Rocky Mountain gas production. The pipeline would extend from the Cheyenne Hub in northern Colorado to Midcontinent pipeline markets near Greensburg, KS.

Monday was a no good, very bad day across Wall Street, and as usual, the energy industry went along for the ride. For the energy merchants, however, it was more like getting hit by a truck.

Depending on how you look at it, there was good news and bad news for Aquila Inc. last week. Moody’s Investors Service and Standard & Poor’s (S&P) Ratings Services both cut the Kansas City-based company’s credit rating, with Moody’s dropping it to “junk” status. However, S&P kept its investment-grade rating, which may ease credit concerns in the near term.

Zeus Development Corp. said last week that after extensive research it has concluded that compressed natural gas (CNG) ocean transport is competitive with liquefied natural gas (LNG) and subsea pipelines for gas reserves containing 0.3 to 3 Tcf and located 300 to 1,500 nautical miles from market. The Houston-based independent energy research firm said conclusions were drawn from analysis conducted during a joint industry project by18 companies completed earlier this month.

Zeus Development Corp. said Tuesday that after extensive research it has concluded that compressed natural gas (CNG) ocean transport is competitive with liquefied natural gas (LNG) and subsea pipelines for gas reserves containing 0.3 to 3 Tcf and located 300 to 1,500 nautical miles from market. The Houston-based independent energy research firm said conclusions were drawn from analysis conducted during a joint industry project by18 companies completed earlier this month.

The General Accounting Office (GAO) showed Friday that its threats, even those against the White House, are not idle when it filed a long-awaited lawsuit in federal court to obtain administration records associated with the task force that formulated the president’s national energy policy.

The General Accounting Office (GAO) showed Friday that its threats, even those against the White House, are not idle when it filed a long-awaited lawsuit in federal court to obtain administration records associated with the task force that formulated the president’s national energy policy.