Hold

The natural gas potential in the Burgos Basin of NortheasternMexico, similar to geology to the Texas Gulf Coast region, may bethree to 10 times higher than previously estimated, according to acomprehensive new study by the Gas Technology Institute. GTI foundthat previous estimates, which put the total undiscovered resourceat 9.7 Tcf, might actually be between 21 Tcf and 75 Tcf.

Have natural gas choice programs taken hold and producedsavings, or is the five-year old concept of offering people achoice of gas suppliers missing its mark?

Have natural gas choice programs taken hold and producedsavings, or is the five-year old concept of offering people achoice of gas suppliers missing its mark?

After gapping lower on the opening bell, natural gas futuressifted lower Friday as traders continued the sell-off that begantwo and a half weeks ago. With Friday’s $4.541 settlement, theNovember contract concluded its tenure as prompt month on adecidedly negative note, down 12.3 cents on the day and $1.24 offits Oct. 12 high-water mark.

Gas customer choice appears to be taking hold in yet anotherstate, as the Michigan Public Service Commission last week adoptedterms and conditions to make gas choice programs for residentialand commercial customers a permanent fixture in the state.

Mexico’s energy regulatory commission, the Comison Reguladora de Energia (CRE), intends to hold a public hearing in November to discuss measures to deal with gas price volatility, strong demand growth and future improvements in Mexican natural gas industry competition.

FERC’s Office of Energy Projects (OEP) plans to hold a series ofpublic meetings throughout the nation to encourage interstate gaspipelines to develop “strategies for constructive publicparticipation in the earliest stages” of their project planning.

Breaking its string of days with advances at nine, the naturalgas futures market sifted lower yesterday as traders learned that atropical storm they had been watching on Friday would likely not bea threat to gas production in the Gulf of Mexico. The prompt monthtook the news on the chin, tumbling 15.7 cents to finish at $4.318.Estimated volume confirmed the move, with 37,472 contracts changinghands.

The mergers of Columbia Energy and NiSource Inc. and El PasoEnergy and Coastal Corp. breezed through the FERC review processWednesday, collecting seals of approval at the same time the agencysaid it wanted to take another look at two proposed mergers ofelectric utilities.