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Talisman Energy Inc. said it hit pay dirt again in the Alberta Foothills. A new well tested at a gross rate of 14 MMcf/d but if left unrestricted by surface equipment would have had an estimated absolute open flow rate potential of 372 MMcf/d and estimated wellhead absolute open flow rate potential of 94 MMcf/d. The well is expected to be tied-in during the second quarter of 2007.

Talisman Energy Inc. said it hit pay dirt again in the Alberta Foothills. A new well tested at a gross rate of 14 MMcf/d but if left unrestricted by surface equipment would have had an estimated absolute open flow rate potential of 372 MMcf/d and estimated wellhead absolute open flow rate potential of 94 MMcf/d. The well is expected to be tied-in during the second quarter of 2007.

Looking to return what’s left of clients’ money after losing in excess of $6 billion on wrong-way natural gas bets during September, Amaranth Advisors LLC has hired Fortress Investment Group LLC to help sell its hedge-fund holdings, according to Associated Press reports. As part of the fallout, calls for the regulation of the over-the-counter (OTC) market and of hedge funds continue.

Despite record-tying natural gas storage levels with a month still left in the traditional injection season, November natural gas futures climbed for the sixth consecutive session Friday as funds continued to cover their short positions and traders factored in a major incursion of cold air into the Midwest this week. After trading within a $6.060 to $6.520 range, the prompt month closed at $6.427, up 12.9 cents on the day and a whopping 80.7 cents higher for the week.

Looking to return what’s left of clients’ money after losing in excess of $6 billion on wrong-way natural gas bets during September, Amaranth Advisors LLC has hired Fortress Investment Group LLC to help sell its hedge-fund holdings, according to Associated Press reports.

Following the week’s first two trading days in which a few points were left out of overall increases, the market made it unanimous: all points were up Wednesday, and nearly all of the gains were in double digits. The prior-day screen spike, still-substantial cooling load across the southern U.S. and lingering tropical storm concerns all played a part in the continuing price advance.

Following a down day Monday, September natural gas futures shot higher Tuesday morning despite bearish fundamentals, which left some market participants scratching their heads. Despite moderating temperatures nationwide and nearly no activity in the tropics, the prompt month reached a morning high of $7.24 before easing off in the afternoon to close at $7.158, up 25.1 cents on the day.

Testimony by the managing price editor for Natural Gas Intelligence (NGI) Friday left open to question the prosecutor’s claim that two former natural gas traders succeeded in manipulating natural gas price indexes in 2000 and 2001 by submitting false information to publishers.

Florida Gas Transmission left a 25% tolerance for negative daily imbalances in an Overage Alert Day that began Friday in place through Saturday before changing it to 15% Sunday and then to 20% Monday. FGT also said Monday that because Transco had been unable for the previous several days to operate its system to achieve contractual pressure at the Transco Citronelle/FGT interconnect in Mobile County, AL, FGT Zone 3 will reduce scheduled volumes at the interconnect to 110,000 MMBtu/d starting Tuesday. Normally more than 300,000 MMBtu/d can be scheduled at that point, FGT said.