Locked

Houston Exploration said it has locked in gas prices on additional amounts of its expected 2004 gas production. For the first quarter of 2004, the company has hedged 100 MMcf/d at an effective floor price of $4.70/Mcf (Henry Hub) with no ceiling and from April through December 2004, it has hedged 100 MMcf/d with a floor of $4.50/Mcf and ceiling of $7.00.

With gas prices soaring over $5 this month, Cabot Oil & Gas Corp. has locked in prices for more of its 2003 and 2004 natural gas production. It also added to its 2003 oil hedge position during the first two weeks of December.

ANR Pipeline locked in a stable source of income for the next eight years by renegotiating firm transportation and storage agreements with its largest customer, Wisconsin utility We Energies, covering 866,500 Dth/d of service starting in 2003 and extending under various terms to 2010. Many of the contracts were due to expire in 2003.

ANR Pipeline locked in a stable source of income for the next eight years by renegotiating firm transportation and storage agreements with its largest customer, Wisconsin utility We Energies, covering 866,500 Dth/d of service starting in 2003 and extending under various terms to 2010. Many of the contracts were due to expire in 2003.

Locked into a 30-year naming rights agreement that Houston baseball fans feared would have led to a plethora of “strike out” jokes this year, Enron Corp. on Wednesday announced a settlement agreement that voids its contract with the Houston Astros Baseball Club and will remove the Enron logo from the city’s plush downtown stadium. The logo has been on the stadium since it was completed two years ago.

Just when it seemed the cash market was locked into an endless downward spiral, it found a plateau on which to level off Thursday. Flatness was the order of the day for most points, while others were mildly higher or lower. Spot points in California and the Pacific Northwest/Western Canada softened by about a nickel or a little more.

Petroleum Development Corp. of Bridgeport, WV, said it haslocked in November to March prices at an average of about$2.95/MMBtu based on NYMEX futures quotes that have reached “thehighest average price we’ve seen for any winter in the past 10years.”

Petroleum Development Corp. of Bridgeport, WVA, said it haslocked in November to March prices at an average of about$2.95/MMBtu based on NYMEX futures quotes that have reached “thehighest average price we’ve seen for any winter in the past 10years.”

In a deal that could be the first of its kind in the nation,Pacific Gas and Electric is locked in serious negotiations withnorthern California natural gas producers to sell them itsextensive utility gas gathering system linked to in-state wells,most of which are in the dry gas fields of the greater SacramentoValley. The deal being sought, which is expected to take the betterpart of 1998 to gain final regulatory approvals, is an offshoot ofthe omnibus Gas Accord unbundled intrastate transmission andstorage services that start March 1. The parties will not put adollar value on the facilities involved in the negotiations, but itis conservatively estimated at tens-if not hundreds-of millions ofdollars, involving hundreds of miles of low- and medium-pressurepipelines and related gathering facilities linked to more than 100producers.