Impacting

The recession has been impacting gas demand among residential and commercial consumers to a degree not seen in previous downturns, according to analysts at Barclays Capital. What type of recovery can be expected depends upon whether decline stems from structural changes or a temporary consumer pullback “that may wash out in the year ahead,” they said.

With Hurricane Dolly holding its anticipated course and impacting Texas near the Mexico border Wednesday afternoon (see related story), traders resumed their pounding on the energies Wednesday as front-month natural gas futures closed below $10 for the first time since April 11.

The Energy Information Administration (EIA) says the probability of potential hurricanes significantly impacting Gulf of Mexico oil and natural gas production this summer is small.

Confirming that the transition from physical pit trading to electronic marketplaces is indeed impacting the way traders and exchanges do business, a Reuters article said Friday that Nymex Holdings, parent company of the New York Mercantile Exchange (Nymex), has plans to consolidate its energy and metals trading floors in an effort to cut costs. The question remains as to whether floor trading will ultimately go the way of the Dodo bird.

Confirming that the transition from physical pit trading to electronic marketplaces is indeed impacting the way traders and exchanges do business, a Reuters article said Friday that Nymex Holdings, parent company of the New York Mercantile Exchange (Nymex), has plans to consolidate its energy and metals trading floors in an effort to cut costs. The question remains as to whether floor trading will ultimately go the way of the Dodo bird.

The latest Energy Information Administration (EIA) analysis is proof that last year’s passage of the sweeping Energy Policy Act of 2005 (EPAct 2005) is already impacting U.S. energy supply, which, among other things, has provided incentives to discourage over-reliance on natural gas for power generation, the Senate Committee on Energy & Natural Resources said Wednesday.

With the weather events in the third quarter impacting nearly all of Newfield Exploration Co.’s Gulf of Mexico platforms and rigs, the producer is now seeking partners to move ahead on its production plans. However, unlike past ventures when producers looked for partners to help reduce risks, Newfield is looking for partners with available rigs.

Higher natural gas prices in the third quarter continue to tell the tale for most of North American-based producers. However, asset sales, natural field declines and storm shut-ins also are playing a major role in quarterly financial reports.

Dynegy Inc. reported a devastating third-quarter loss of $1.8 billion ($4.92/share) last Wednesday, warned of more writedowns in the fourth quarter, failed to offer any earnings guidance going forward, and finally stunned investors and analysts with no conference call to explain.