In a race to produce increasing amounts of natural gas to keep up with the nation’s growing demand, Anadarko Petroleum Corp. reported Tuesday that it is continuing its work to find and produce new gas reserves from oil fields. The company announced its Fife Unit #2 well in Central Texas, which just came online, is producing natural gas at a rate of 51 MMcf/d.
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Industry Briefs
Westcoast Energy Inc. finalized on Wednesday its previouslyannounced acquisition of the remaining 50% of the Empire StatePipeline for approximately $75 million, increasing its stake in thenatural gas line to 100%. The company first announced it wasacquiring the remaining 50% interest from Coastal Corp. in Novemberof 2000 (see Daily GPI, Nov. 10, 2000). The 156-mile pipeline runsfrom the Canada/United States border near Niagara, through New YorkState to an interconnect near Syracuse, NY. The pipeline has arated capacity of 525 MMcf/d. “We are pleased to now have fullownership of this valuable link to our Union Gas system, our Dawnhub and markets in Upper New York State and the northeast U.S.,”said Michael Phelps, CEO of Westcoast.
Can Gas for Generators and LDCs Co-exist?
The winter peak in gas demand has a new rival: summer peakdemand. And many market observers are wondering if the two canco-exist. With rapidly increasing gas-fired generation, theindustry will be hard pressed to met traditional loads whileserving what once was a low priorty — the power generators.
INGAA: Obstacles Hinder Future Pipeline Expansion
Firing a shot across the bow of local distribution companies(LDCs), INGAA Chairman Stanley C. Horton, CEO of Enron GasTransportation Services Co., said yesterday the LDCs are standingin the way of desperately needed interstate pipeline capacity.
Industry Briefs
UtiliCorp United announced yesterday that its wholly-ownedsubsidiary Aquila Energy has changed its name to Aquila, Inc. toreflect Aquila’s increasing participation in markets outside theenergy industry. In addition to trading natural gas and powerthroughout North America and Europe, the company entered thebroadband capacity market last year. It also offers a broad rangeof risk management products and services to its clients, includinga family of weather risk products. Aquila is a Latin word meaningeagle. It also is the name of a constellation containing the starAltair. In some cases this constellation is known as the flyingeagle.
Frontier E&P Expected to Escalate
Frontier market activity is increasing across the board forNorth American natural gas producers who have begun pouring moreresources into deepwater Gulf of Mexico, Atlantic Canada and theArctic to complement the increasingly stronger plays onshore.Still, bureaucracy is hindering the ramp up for new exploration andproduction that could hinder supplies into the future, warned someenergy experts last week.
CA Regulators Extend Securitization Deal
Ever-timid in their reactions to the increasing number ofemergency requests from utilities of late,ÿCaliforniaÿregulatorsmodestly extended a new securitization contract approach tomaintaining Pacific Gas & Electric’s future fuel supplies. TheCPUC action allows PG&E to continue offering suppliers theoption of a lien in retail customer bills that covers the full costof wholesale gas prices. Its 30 to 40 suppliers can sign on for upto 180 days (from the previous 90-day limit). PG&E hadrequested the securitization deals be extended up to 365 days.
Frontier E&P Expected to Escalate
Frontier market activity is increasing across the board forNorth American natural gas producers who have begun pouring moreresources into deepwater Gulf of Mexico, Atlantic Canada and theArctic to complement the increasingly stronger plays onshore.Still, bureaucracy is hindering the ramp up for new exploration andproduction that could hinder supplies into the future, warned someenergy experts yesterday.
Moody’s Says Electric Muni’s Face Increasing Risk
Moody’s Investors Service warned yesterday that some municipalelectric utilities face a dangerous possibility of having to buymore power than expected on the spot market because of very lowhydroelectric supplies.
Denver Marketer Priced Out of Market
Western Natural Gas, a Denver-based marketing company, isphasing out its retail marketing business in the face of increasingnatural gas prices and the capital requirements necessary to obtainsupplies.