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Heat

Poco Petroleums to Drill Hot Chevron Prospects

Thanks partly to decisions in the United States, Canadians areturning up the heat under hot drilling plays along the Albertafoothills of the Rocky Mountains and in northeastern BritishColumbia. Chevron Canada’s western exploration manager, LarryStewart, revealed in a session of financial analysts howAmerican-held hot prospects of filling expanding export pipelinesare being opened up to Canadian-owned firms.

July 26, 1999

Poco Petroleums to Drill Hot Chevron Prospects in Canada

Thanks partly to decisions in the United States, Canadians areturning up the heat under hot drilling plays along the Albertafoothills of the Rocky Mountains and in northeastern BritishColumbia. Chevron Canada’s western exploration manager, LarryStewart, revealed to a session of financial analysts howAmerican-held hot prospects of filling expanding export pipelinesare being opened up to Canadian-owned firms.

July 26, 1999

Heat and Screen Light Fire Under Cash Prices

Much of the U.S. bore some resemblance to a lit oven Thursday,and the Nymex screen was soaring like a space shuttle takeoff fromCape Canaveral. The two events combined to give strong support toeastern cash prices, which rose between a nickel and a dime atalmost every point. Gas demand was especially intense at theNortheast and Chicago citygates; both were up about a dime. TranscoZone 6-NYC deliveries topped all points with a high of $2.70.

July 23, 1999

Weekend Softness Mild Due to Heat Expectations

Cash prices proved remarkably resistant Friday to the softnessthat usually accompanies lowered demand for a weekend period. TheGulf Coast and Northeast citygates were essentially flat, whilemost of the small declines were concentrated in the West andMidcontinent. Sources attributed the relatively firm pricing tomodest support from a slightly higher futures screen, along withtrader anticipation of a return to hotter weather morecharacteristic of June than last week’s below-normal thermometerreadings throughout much of the East.

June 21, 1999

Virginia Power Seeks Gas-Fired Relief from the Heat

Virginia Power asked the State Corporation Commission Tuesdayfor authority to build and operate five natural gas-firedcombustion turbines to generate power for the utility’s two millioncustomers during peak demand periods.

August 12, 1998

Most Cash Markets Shrug Heat, Continue Downslide

Cash was king for most of the month of June; oftentimes tradingat a premium to the Nymex futures contract. But that seems like adistant memory as cash prices shrugged off some of the season’shottest temperatures to slip, for the second day in a row, by up to5 cents almost across the board. While some traders expressedsurprise at the weakness, others said this is a sign the Nymexscreen is regaining control of market direction.

July 15, 1998

FERC Follows Up With Other Colorado Projects

FERC turned the heat on pipeline competition in the Colorado andWyoming markets up a notch or two last week when it gave KNWattenberg Transmission the go-ahead to start work on its proposed109-mile Front Runner pipeline project, and gave competitorsWyoming Interstate (WIC) and Colorado Interstate Gas (CIG) thegreen light to carry out the construction of new compression andmetering facilities.

July 15, 1998

Outages Boost San Juan, California; Heat Drives Rockies

With the exception of Western and Rockies delivery points,natural gas prices began the new week flat or leaning downward acouple of cents. There was support resulting from supplyconstraints in the San Juan Basin and forecasts for above normaltemperatures in the Rockies. However, cash prices for the rest ofthe country appeared to be held back by a weakening Nymex futuresscreen and moderate temperatures in major northeastern markets,sources said.

July 14, 1998

San Juan Leads West Plunge; Flat Otherwise

A continuation of intense heat in the Eastern U.S. lentfundamental support to gas markets in the region Friday, keepingcash prices flat to slightly higher or lower for the weekend.Again, though, it was a case of “not so” in the San Juan Basin,Rockies and California. Although east-of-California markets sawhigh temperatures approaching or surpassing 100 degrees, a dearthof demand from the Golden State and the unrealized threat of an OFOon El Paso caused gas to back up into the San Juan-Blanco pool,resulting in a steep dive of nearly 30 cents. One source, whopicked up an early Blanco package at $1.78, about a dime down fromThursday, paid only $1.59 near the end of trading.

June 29, 1998

Electric Groups’ Complaint Plan Takes Heat

Natural gas producers sharply criticized an electric industryproposal that seeks to resolve commercial disputes through disputeresolution as a precursor to them being filed at FERC. The aim ofthe proposed plan is to streamline the complaint process at theCommission, electric officials say.

June 25, 1998