Horizon

Abraham: U.S. Energy Supply Dilemma Needs Addressing

With tight U.S. energy markets keeping prices at historically high levels, “several storm clouds are on the horizon” for the industry unless the supply burden is eased, according to former U.S. Secretary of Energy Spencer Abraham. He noted that another spike in energy prices could bring a backlash from the general public, which in turn could spark U.S. government intervention.

September 18, 2006

Abraham: U.S. Energy Supply Dilemma Needs Addressing

With tight U.S. energy markets keeping prices at historically high levels, “several storm clouds are on the horizon” for the industry unless the supply burden is eased, according to former U.S. Secretary of Energy Spencer Abraham. He noted that another spike in energy prices could bring a backlash from the general public, which in turn could spark U.S. government intervention.

September 14, 2006

Constellation Adjusted EPS Could Grow As Much as 28% Near Term

The current higher commodity price environment “will drive higher earnings over the planning horizon” at Constellation Energy Group, the company’s chief financial officer (CFO) said on Thursday during a Lehman Brothers conference in New York City.

September 11, 2006

Futures Fall as Winter Weather Continues Hibernation

Without any bullish weather even on the horizon, February natural gas picked up the downward trend from the previous week, venturing as low as $9.150 on Monday before closing at $9.360, down 27.2 cents on the day.

January 10, 2006

Industry Briefs

National Fuel Gas said its subsidiary, Horizon Energy Development BV, has agreed to sell its majority interest (85%) in United Energy for US$116.3 million to Czech Energy Holding, a company owned by Patrik Tkac, founder and partner of the J&T Group. United Energy is a district heating and electric generation business in the Bohemia region of the Czech Republic. The company expects the transaction to be completed before the end of its fiscal year. “We remain pleased with what we’ve accomplished in the Czech Republic, but given the strong value of the Czech currency and the number of unsolicited offers that we were receiving for our Czech assets, this appeared to be a good time to bring a successful end to our activities there,” said National Fuel CEO Philip C. Ackerman. National Fuel began its operations in the Czech Republic in 1996, when it first acquired a small district heating company and a project development company. After a number of additional acquisitions and mergers, United Energy, based in the city of Komorany, grew to be one of the largest independent producers of heat and electricity in the Czech Republic. National Fuel expects to realize a net nonrecurring gain of US$25 million, or $0.30 per diluted share, from the sale.

June 30, 2005

Natural Gas Futures End Bearish Week on Liquidation Note

With storage remaining more than ample and no real weather-related demand on the horizon, June natural gas futures on Friday continued to probe lower prices for a fifth consecutive day.

May 2, 2005

Questar CEO Says Energy Bill Needs Dose of ‘Reality, Not Wishful Thinking’

The United States may have a natural gas supply “problem” on the horizon, but the biggest dilemma now is how consumers will reconcile their growing demand for gas with their environmental beliefs, Questar Corp. CEO Keith O. Rattie said Wednesday.

January 24, 2005

Questar CEO Says Energy Bill Needs Dose of ‘Reality, Not Wishful Thinking’

The United States may have a natural gas supply “problem” on the horizon, but the biggest dilemma now is how consumers will reconcile their growing demand for gas with their environmental beliefs, Questar Corp. CEO Keith O. Rattie said Wednesday.

January 20, 2005

End-of-August Prices Take Dive; TS Fabian Debuts

With a long holiday weekend and increasingly moderate weather looming on the immediate horizon, no one was surprised to see across-the-board declines in double digits Thursday for prices through the end of the month. And despite a surprisingly low storage injection report and the late-afternoon emergence of Tropical Storm Fabian, sources expect softening to continue Friday in trading for the initial September aftermarket.

August 29, 2003

Prospects and Price Shocks Cloud Gas Production Horizon

A lack of cheap, easy drilling prospects, a succession of price shocks and industry consolidation are some of the main factors behind the downturn of natural gas production in North America, according to financial analyst Irene Haas.

January 27, 2003