Limp

While unemployment has improved, it is still higher than the national average, so the Nevada economy continues to limp along and likely will do so through next year, the CEO of NV Energy Inc. told financial analysts Monday on a second quarter conference call in which he reported greatly reduced profits quarter over quarter.

North American natural gas prices will limp into 2010 but end the year “strong” because of supply declines, but “quantifying the magnitude of the domestic supply decline is becoming more opaque,” EOG Resources Inc. CEO Mark Papa said Friday.

North American natural gas prices will limp into 2010 but end the year “strong” because of supply declines that will occur through the year, but “quantifying the magnitude of the domestic supply decline is becoming more opaque,” EOG Resources Inc. CEO Mark Papa said Friday.

As oil and natural gas infrastructure continues to limp back to service following Hurricanes Rita and Katrina, many eyes in the natural gas industry are focused on the Henry Hub near Erath, LA, a physical delivery point that is used as a benchmark for the Nymex futures contract. The hub has been offline since Sept. 22, and no one will even speculate on when it will be back to normal (see Daily GPI, Sept. 27, Sept. 28, Oct. 6).

Given the mild winter, the natural gas piled up in storage and the crippled economy, gas prices are expected to limp along in the $2.00 to $3.00 range for most of 2002, but watch out for the winter of 2003-2004; it could be a real zinger, with prices closing on $4.50, according to projections by Ben Schlesinger & Associates (BSA).

Given the mild winter, the natural gas piled up in storage and the crippled economy, gas prices are expected to limp along in the $2.00 to $3.00 range for most of 2002, but watch out for the winter of 2003-2004; it could be a real zinger, with prices closing on $4.50, according to projections by Ben Schlesinger & Associates (BSA).

Lacking strong leadership for the fourth day in a row thenatural gas futures market continued to limp lazily sidewaysFriday. But unlike the modest gains that were posted Tuesday,Wednesday and Thursday, prices drifted lower to close out the week,possibly setting the market up for more losses today. The Julycontract finished 3.7-cents lower at $2.258.

Expiration week is supposed to be about extreme volatility atthe New York Mercantile Exchange, but the March natural gascontract exhibited anything but that on Monday. The spot monthinched 1.9 cents lower to $2.179 yesterday, amid a session bound bya tight 4-cent trading range