Although two competing pipelines, designed to bring up to 1.7 Bcf/d of gas to Florida from LNG terminals in the Bahamas, already have completed the regulatory process in the United States, El Paso Corp. proved Wednesday its Seafarer Pipeline project is not out of the picture just yet. But will southern Florida really need 2.5 Bcf/d of new pipeline capacity and gas supply in the 2007-2008 timeframe?
Keeps
Articles from Keeps
Most of Market Levels Off; Northeast Keeps Falling
Confronted with growing weakness in weather fundamentals, more than one trader was surprised to see a majority of points stay close to flat Wednesday. Few of them varied from unchanged by more than about a nickel. Only Northeast citygates significantly extended Tuesday’s softness by dropping 8-15 cents.
Williams Frets Over Pace of Powder River Permits, But Piceance Will Pick Up Slack
The main thing that keeps Ralph Hill, Williams’ head of exploration and production, up at night is the slow pace of Powder River Basin drilling permits issued by the Bureau of Land Management (BLM). Although the pace has quickened, Hill told analysts Thursday that it’s still a far cry from the pace predicted by BLM, and Williams may have to compensate by speeding up drilling in other basins.
Williams Frets Over Pace of Powder River Permits, But Piceance Will Pick Up Slack
The main thing that keeps Ralph Hill, Williams’ head of exploration and production, up at night is the slow pace of Powder River Basin drilling permits issued by the Bureau of Land Management (BLM). Although the pace has quickened, Hill told analysts Thursday that it’s still a far cry from the pace predicted by BLM, and Williams may have to compensate by speeding up drilling in other basins.
Most Points Moderately Firmer; Northeast Keeps Diving
The cash market broke out of a lengthy pattern of volatile price movement for the most part Wednesday. Except for plunges of 60 cents to nearly two dollars in the Northeast, the rest of the market tended to range from slightly softer to 20 cents higher. A majority of the gains were less than a dime.
Northeast Keeps Plunging, Leads Overall Market Lower
The cash market was predictably weaker Friday, with continuing triple-digit and quadruple-digit plunges at Northeast citygates leading the trek downward. Non-Northeast losses were as small as a nickel, but mostly ranged between 20 and 90 cents.
Duke Keeps Dividend But Takes Billions in Charges, Plans Plant Sales
Duke Energy defied analysts’ expectations by announcing last Wednesday that it would maintain its $1.10/share annual dividend. However, new CEO Paul Anderson outlined a major restructuring plan and said the company would have to take a $3.3 billion fourth quarter 2003 pretax charge as a result of asset impairments.
General Market Slumps, But New England Keeps Soaring
Even with the overall market making a sharp reversal Wednesday from the price spikes of the first two days of the week, New England citygates pushed to new highs as severe winter weather continued to intensify. The Algonquin citygate hit $12.00 at its high end in very volatile trading, while Iroquois Zone 2 and Tennessee Zone 6 peaked at $11.60 and $10, respectively.
Duke Keeps Dividend But Takes Billions in Charges, Plans Plant Sales
Duke Energy defied analysts’ expectations by announcing Wednesday that it would maintain its $1.10/share annual dividend. However, new CEO Paul Anderson outlined a major restructuring plan and said the company would have to take a $3.3 billion fourth quarter 2003 pretax charge as a result of asset impairments.
Spreading Cold in North Keeps Prices Ascending
Except for an essentially flat Northern California market, cash prices continued to move higher Wednesday. Colder northern weather, including snow in some cases, either setting in already or due later this week was cited as the primary factor sustaining market firmness.