Executives at U.S. Steel Corp. said last week the company has begun to lock in natural gas prices for the year and predicted that demand for the company’s steel tubes, which are used for oil and natural gas drilling, will remain strong in the first quarter.
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U.S. Steel Making Pipes Using Low-Priced Gas
Executives at United States Steel Corp. said the company has started to lock in natural gas prices for the year and predicted that demand for the company’s steel tubes, which are used for oil and natural gas drilling, will remain strong in the first quarter.
Shoulder Season Sluggishness, Weak Futures Help Talk Cash Points Down
Moving in one-day delay lock-step with front month natural gas futures, cash market traders took their cue from the 18.8-cent drop in the May futures contract on Monday as almost every single cash point average recorded a decline on Tuesday.
Sempra CA Utilities File $462 Million, 6-Year Rate Case
Seeking an unprecedented time frame of six years to lock in its general retail gas and electric utility charges, including profit levels, Sempra Energy’s two California utilities Friday filed joint general rate case proposals to the California Public Utilities Commission (CPUC), seeking increases of $251.9 million for San Diego Gas and Electric Co. and $211.million for Southern California Gas Co. operations, representing increases of 4% to 7%.
Energen Locks in 2007-08 Hedge Positions
In an effort to lock in high commodity prices, Energen Corp. has increased its 2007 and 2008 hedge positions for natural gas, oil and natural gas liquids (NGL). The Birmingham, AL-based holding company said it sold New York Mercantile Exchange (Nymex) contracts and swaps on the output of its oil and natural gas development subsidiary Energen Resources Corp.
NGI The Weekly Gas Market Report
Chesapeake Hedges 71% of 2006 Gas at $9.43/MMBtu
When you can lock in nearly three-quarters of your production at $9.43/MMBtu, that’s a pretty good deal, particularly when a mere three years ago you hedged 39% of your production at an average of $4.33/Mcf. Chesapeake Energy Corp. over the past month increased its hedge position, locking in an average Nymex price of $9.49/MMBtu for 721 Bcf of natural gas production over the next three years.
LADWP Fuel Mix Changing: New Gas Supply, Renewable Deals in Play
The Los Angeles Department of Water and Power (LADWP) is still attempting to lock in both long-term natural gas supply contracts and reserves as a hedge against future volatility in wholesale energy prices at the same time it is lining up more renewable sources of power for its system that enjoys about a 2,000 MW surplus already for peak loads. Completion of nearly half of a 10-year, $1.8 billion re-powering program further changes its future energy mix, a LADWP executive told NGI Wednesday.
LADWP Fuel Mix Changing: New Gas Supply, Renewable Deals in Play
The Los Angeles Department of Water and Power (LADWP) is still attempting to lock-in both long-term natural gas supply contracts and reserves as a hedge against future volatility in wholesale energy prices at the same time it is lining up more renewable sources of power for its system that enjoys about a 2,000 MW surplus already for peak loads. Completion of nearly half of a 10-year, $1.8 billion re-powering program further changes its future energy mix, a LADWP executive told NGI Wednesday.
Chesapeake’s McClendon Sees Buyer Opportunity in the Next 30-45 Days
In the next 30-45 days large consumers may have the opportunity “to lock in some really low gas prices,” according to Chesapeake Energy Chairman Aubrey K. McClendon, adding that his company is “virtually 100% hedged” during that time period.
Chesapeake Energy Hedged to Protect Against Near-Term Price Drops
In the next 30-45 days large consumers may have the opportunity “to lock in some really low gas prices,” according to Chesapeake Energy Chairman Aubrey K. McClendon, adding that his company is “virtually 100% hedged” during that time period.