When buying acreage in a hot unconventional gas play, like the Barnett Shale in North Texas, it’s important to not lose your nerve at checkbook time. U.S. shale plays are hot and getting hotter. If your company is late to the party, that’s OK. Just know that the admission price is higher now.
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Most Points Rise Despite Cooling Load Losses
Despite having already lost or being about to lose a significant amount of power generation load for air conditioning in key market areas, the cash market was able to ride a prior-day screen advance of 14.1 cents along with whatever cooling load will remain Thursday to mostly moderate gains at a majority of points on Wednesday.
Screen, Power Load Keep Cash Prices on Rise
Despite starting to lose heating load again, the cash market relied on residual support from Friday’s 16.3-cent screen gain and strong demand from power generators to rack up increases in double digits at all points Monday. As usual, the post-weekend restoration of industrial load also was a factor.
TransCanada Fights for Rights to Build Canadian Portion of Alaska Line
TransCanada Corp. has come out fighting for support for its historical rights to build the Canadian leg in the Alaska gas project, saying Alberta will lose C$10 billion (US$8 billion) in excess tolls and petrochemical industry growth if the government in Ottawa refuses to honor its claims.
Cold, Rising Futures Propel All Cash Points Higher
The market is starting to lose some heating load in the South due to moderating weather trends, but enough of it will remain Thursday in the Midwest and Northeast that prices were in a climbing pattern at all points Wednesday. Cash numbers also derived support from significant day-earlier advances across Nymex’s energy futures complex.
Most Points Mildly Softer; Northeast Keeps Rising
The spate of colder weather in the Midwest and Northeast that had generated upticks at nearly all points in the previous two days began to lose its price-boosting ability Thursday. Only the Northeast, where high temperatures are predicted to stay at the freezing level or below Friday and into the weekend, continued to see substantially higher prices Thursday. Except for small gains at a couple of scattered non-Northeast points, the rest of the market was flat to just a tad softer.
Floor Collapses Under Cash, Futures; Most Spot Points Lose 40-50 Cents
Huge declines of 40 to 50 cents were seen in Friday’s cash market as futures prices finally gave way to significant downward pressure that had been mounting all week, pulling down the cash market with it.
Duke Pipes Lose Bids to Upset Shipper-Friendly ROFR Orders
Two Duke Energy pipelines failed to win rehearing of FERC rulings that ordered the pipes to make their right-of-first-refusal (ROFR) tariff provisions more friendly to shippers.
Duke Pipes Lose Bids to Upset Shipper-Friendly ROFR Orders
Two Duke Energy pipelines failed to win rehearing of FERC rulings that ordered the pipes to make their right-of-first-refusal (ROFR) tariff provisions more friendly to shippers.
El Paso Electric Reaches Deal with FERC to Refund $14M
Without conceding any wrongdoing on its part, El Paso Electric Co. (EPE) has agreed to pay $14 million and lose the right for market-based trading for two years as part of a settlement with FERC trial staff that resolves issues arising from the agency’s investigation into the company and Enron Corp. [EL02-113-000]. The settlement was disclosed by the staff in written testimony filed Thursday.