Despite recent declines in rig utilization because of sharply lower natural gas prices, Schlumberger Reed-Hycalog’s annual rig census shows that U.S. drilling rig utilization has jumped this year to a 20-year high. High commodity prices over the past year have caused the activity level of the expanded fleet to push utilization to 93%, a level not seen since the early 1980s.
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Dynegy Jumps Puddle Into Euro Broadband, Predicts Strong Growth
Just three months after Houston-based Dynegy announced it wouldenter the North American wholesale broadband communicationsbusiness, it now is storming into Europe with a deal to buyLondon-based iaxis Ltd., a cash poor fiber optic network operator.
Dynegy Jumps Puddle Into Euro Broadband
Just three months after Houston-based Dynegy announced it wouldenter the North American wholesale broadband communicationsbusiness, it now is storming into Europe with a deal to buyLondon-based iaxis Ltd., a cash poor fiber optic network operator.Dynegy also told analysts yesterday that it expects earnings tojump 20% to 25% per year over the next three years spurred by itsasset-based growth plan.
Screen, Western Heat Cause Strong Price Jumps
This week’s seesaw ride in prices continued Thursday withdouble-digit advances in all markets. Wednesday afternoon’s screenrise, which carried over into Thursday, along with severe heat inthe West, were the chief causes of cash strength, sources said.
Down One Day, Up Another; July Jumps Back 18.8 Cents
Bungy jumping, yo-yoing and roller coaster riding are allactivities that have very much in common with what has been goingon in the gas pit at the New York Mercantile Exchange this week.Many observers expect more of the same until near-month futureseither take out support at $3.80 or bust through resistance at$4.55, “a nice friendly little trading range.”
Nicor Jumps onto the Horizon Bandwagon
Nicor Inc. has signed on as an equal partner in the plannedHorizon Pipeline with Kinder Morgan Inc.’s Natural Gas PipelineCompany of America (NGPL), the companies said last week. Thepartners also submitted Horizon’s application to FERC.
Nicor Jumps onto the Horizon Bandwagon
Nicor Inc. has signed on as an equal partner in the plannedHorizon Pipeline with Kinder Morgan Inc.’s Natural Gas PipelineCompany of America (NGPL), the companies said. The partners alsosubmitted Horizon’s application to FERC this week.
March Jumps 13 Cents on Continued Weather Hype
Responding to private weather forecasts early yesterday callingfor continued cold weather in the Northeast, market buyers showedtheir muscles at the starting gate and followed through with strongruns in both futures and cash. February cash prices at the HenryHub were approaching dime increases while March futures soared 13cents to $2.662, a smidgen off its high for the day of $2.675. TheApril contract was up 10.4 cents to $2.605, just under its high of$2.610, and May drove 7.7 cents higher to $2.575.
Dynegy Jumps into FL Power Market
Dynegy Inc. yesterday announced plans to develop its firstmerchant power plant to serve the growing electricity market inFlorida.
Canadian Producers Predicting Big Price Jumps This Winter
Canadian producers expect their natural gas prices to rise by asmuch as 60% when the next heating season catches up with effects ofthe 1998-99 drilling slump.