Having

There’s some truth in the old saying about having too much of a good thing. Just ask North American natural gas producers.

Despite having to shut in 3 Bcf in 3Q2008, Ultra Petroleum Corp. saw its natural gas and oil output from continuing operations up 35% and profit jumping 227% from the same period a year ago. Double Eagle Petroleum Corp., which like Ultra operates in the Rocky Mountains, also hit on all cylinders during the quarter, with its gas output up 149% from 3Q2007.

Despite having to shut in 3 Bcf in 3Q2008, Ultra Petroleum Corp. saw its natural gas and oil output from continuing operations up 35% and profit jumping 227% from the same period a year ago. Double Eagle Petroleum Corp., which like Ultra operates in the Rocky Mountains, also hit on all cylinders during the quarter, with its gas output up 149% from 3Q2007.

A majority of the cash market was firmer again Wednesday despite still having little in the way of weather-based demand, but at least this time it could claim the support of a 21.7-cent advance by November futures the day before. Tuesday’s mostly higher numbers had defied a weaker prior-day screen.

A federal appeals court in Washington, DC has vacated and remanded an order in which FERC, after having approved two rate settlements, modified them to require Dominion Transmission Inc. to provide additional information to its shippers with respect to its fuel accounting practices.

House Democrats plan to take up a package of energy measures next week that would put producers in the unenviable position of having to either drill on their existing leases or face the prospect of paying higher fees.

Having had some success in encouraging producers to sign on for firm long-term commitments for the Rockies Express (REX) Pipeline, the Wyoming Pipeline Authority (WPA) is working to convince the state legislature to incentivize shipper support for other pipeline projects to export gas out of the state, thereby contributing to state revenues.

Having had some success in encouraging producers to sign on for firm long-term commitments for the Rockies Express (REX) Pipeline, the Wyoming Pipeline Authority (WPA) is working to convince the state legislature to incentivize shipper support for other pipeline projects to export gas out of the state, thereby contributing to state revenues.

Having lost its joint venture partner, ConocoPhillips, and seeing no softening of the local government officials’ resistance, Mitsubishi’s Sound Energy Solutions (SES) is hoping a California Superior Court in Los Angeles will eventually put its plans back on track for a proposed liquefied natural gas (LNG) terminal in the Port of Long Beach. A court hearing Friday was set to outline the schedule for the case in the first quarter next year.