Following the old “buy the rumor, sell the event” trading mantra, natural gas futures tumbled lower Monday as sellers punished the market just as the coldest weather of the season was arriving in the eastern United States.
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Producers Knock Transco’s Proposed Spin-Off of South Texas Pipe Facilities
Calling the proposal a “repackaged” version of one that FERC shot down last year, a group of producers has urged the Commission to reject a bid by Transcontinental Gas Pipe Line to spin off part of its South Texas mainline and lateral facilities to an unaffiliated Texas intrastate pipeline, Dallas-based Crosstex CCNG Transmission Ltd.
Producers Knock Transco’s Proposed Spin-Off of South Texas Pipe Facilities
Calling the proposal a “repackaged” version of one that FERC shot down last year, a group of producers this week urged the Commission to reject a bid by Transcontinental Gas Pipe Line to spin off part of its South Texas mainline and lateral facilities to an unaffiliated Texas intrastate pipeline, Dallas-based Crosstex CCNG Transmission Ltd.
2,990 MW of Gas-Fired Generation Being Shut Down in Texas
In a decision that could knock gas demand down a notch in Texas, CenterPoint subsidiary Texas Genco Holdings said it will mothball 2,990 MW of older gas-fired generation because of an oversupply situation. The Electric Reliability Council of Texas has forecast a 20% reserve margin this year. Significant new and more efficient merchant power has been built in the state, pushing older plants out of the market.
2,990 MW of Gas-Fired Generation Being Shut Down in Texas
In a decision that could knock gas demand down a notch in Texas, CenterPoint subsidiary Texas Genco Holdings said it will mothball 2,990 MW of older gas-fired generation because of an oversupply situation. The Electric Reliability Council of Texas has forecast a 20% reserve margin this year. Significant new and more efficient merchant power has been built in the state, pushing older plants out of the market.
Claudette Could Knock on Gulf Hub Doors Tuesday Morning
After grazing the tip of the Yucatan Peninsula Thursday night as it entered the Gulf of Mexico, Tropical Storm Claudette’s unknown path quickly forced natural gas and oil producers on Friday to begin implementing preventative measures on their Gulf platforms, including production shut-ins and employee evacuations. One forecaster warned that Western and Central Gulf Hubs could be in trouble come Tuesday morning.
Constellation Eyes Asset Opportunities in Power Sector
Liquidity-challenged energy merchants looking for ways to pay down debt may hear a knock at the door from Baltimore-based Constellation Energy Group in the very near future — if it hasn’t happened already. Many of the best opportunities, especially the power plants, have fallen below book value in just a few weeks, and they offer an especially attractive buy, CEO Mayo Shattuck III told analysts during a conference call Wednesday.
Three Weeks of 100+ Bcf Injections Knock Futures Down Hard
What a difference a day can make. Just 24 hours after natural gas prices erupted higher amid a frenzy of short-covering, the bears were back in control Wednesday as they pressured prices to fresh weekly lows. The June contract finished at $4.298, down 35.5 cents on the day but 2 cents above Friday’s close.
Producers Knock Clinton Plan To Set Aside Public Lands
President Clinton’s announcement Friday of a ban on new roads,logging and other activities on more than one-fourth of allfederally owned lands will put quite a dent in the futureexploration and production of natural gas in the United States, gasproducers indicated.
Producers Knock Land Set-Aside
President Clinton’s announcement Friday of a ban on new roads,logging and other activities on more than one-fourth of allfederally owned lands will put quite a dent in the futureexploration and production of natural gas in the United States, gasproducers indicated.