Impacts

Citing record crude oil prices, limited growth in natural gas production and the potential impacts of hurricanes, the Energy Information Administration (EIA) in its Short-Term Energy Outlook for August projects that Henry Hub spot gas prices will average $8.50/Mcf in the fourth quarter, up from its previous estimate of $7.90/Mcf.

A report in Tuesday’s edition of NGI’s Daily Gas Price Index cited a recent analysis of the comprehensive energy bill by the Energy Information Administration (EIA) (see Daily GPI, Aug. 2). In analyzing the impacts of the energy bill, EIA focused on the bill that was passed by the House of Representatives last April rather than the version of energy bill that was approved by Congress last week. The EIA said it would have drawn different conclusions about the final version of the energy bill, which was substantially different that the earlier House version of the legislation.

Peeling back some of the underlying impacts on first quarter results among Western energy sector players this month, high wholesale natural gas prices play a part in just about all of them as found in the varying levels of success among several companies this week.

There would be progressively greater impacts on natural gas consumption, prices and domestic supply if any or all of three restricted gas supply scenarios studied by the Energy Information Administration (EIA) occurred, the agency said in a special report released last week.

There would be progressively greater impacts on natural gas consumption, prices and domestic supply if any or all of three restricted gas supply scenarios studied by the Energy Information Administration (EIA) occurred, the agency said in a special report released Monday.

Last month’s tragic accident that killed at least 27 people at a liquefaction plant in Skikda, Algeria has had a chilling effect on the numerous plans for importing large quantities of liquefied natural gas (LNG) into the United States, according to speakers at a West Coast industry conference.

The “vast majority” of customers that lost power as a result of the massive wave of electrical outages that hit the Northeast, Great Lakes and eastern Canada on Thursday were being returned to service Friday, the head of the North American Electric Reliability Council (NERC) said at the end of the week.

Attributing the decline in earnings to an accounting change, Oneok Inc. announced 2Q2003 net income of $22.5 million, or 23 cents per diluted share of common stock for the second quarter 2003, compared with $35.4 million, or 29 cents per diluted share, for the same quarter a year ago.

Aquila Inc.’s first quarter losses, though anticipated because of its decision to wind down its once mighty wholesale energy trading business, showed a glimmer of positive news Thursday, with the company’s domestic utility networks up more than 50% from a year ago.