Isn’t there a saying about the bigger they come, the harder they fall? Following a Tuesday in which quite a few Gulf Coast and Midcontinent production area points recorded their biggest numbers ever, the cash market was diving Wednesday about as fast as it had rocketed higher in the first two trading days of the week. Eastern markets, along with Waha/Permian Basin in the West, saw average declines that tended to range from about $5 to $24. Because they hadn’t soared to such stratospheric levels previously, other western points mostly saw smaller price drops of $1-3.
Mentioned
Articles from Mentioned
EnCana Plans to Sell Marketing, Trading Unit
EnCana Corp. mentioned in releasing its first quarter results that it plans to discontinue energy marketing and trading operations to focus on core exploration and production activities in the United States and Canada. A company spokesman said last week that EnCana, which was formed by the merger of PanCanadian Energy and Alberta Energy Co., already has received some offers for the marketing unit, which includes 100 Houston employees and 2.3-2.7 Bcf/d of gas sales.
May 6, 2002
Correction
In a story that ran in Daily GPI on Wednesday, titled “TradeSpark Rebounds, Eyes Potential Clearing Services,” Cantor Fitzgerald was mentioned as the most likely entity to perform clearing services for the TradeSpark electronic energy exchange (see Daily GPI, Feb. 13). However, TradeSpark representatives said it is too early to be absolutely certain that Cantor Fitzgerald will perform those services. Market participants and TradeSpark officials still have significant work to do before clearing services can be put in place.
February 14, 2002
Rep. Archer Mentioned as DOE Secretary Candidate
Retiring Rep. Bill Archer (R-TX) was coy yesterday when asked torespond to reports that he is being considered for Energy Secretaryshould Texas Gov. George W. Bush ultimately be declared the nextpresident.
November 14, 2000
Clinton SPR Action Puts Energy at Center Stage
The Democrats barely mentioned the word “energy” in theirplatform at the August convention, but President Clinton put thespotlight on energy issues last week in Washington with hisdecision to release 30 million barrels of crude oil from theStrategic Petroleum Reserve (SPR), as well as a record $400 millionof funding for energy assistance to low-income households for thiswinter.
October 2, 2000
Clinton Tackles Winter Heating Oil Prices
The Democrats hardly mentioned the word “energy” in theirplatform at the August convention, but President Clinton last weektried to make up for that omission by ordering the release of 30million barrels of crude oil from the Strategic Petroleum Reserve(SPR), as well as a record $400 million of funding for energyassistance to low-income households for this winter.
September 26, 2000
Correction:
A story titled “NGC Releases First Batchof El Paso Capacity” in the Tuesday April 7 edition of NGI’s DailyGas Price Index mentioned only one of two El Paso capacity packagesbeing released by NGC Corp. NGC is releasing the 593,122 MMBtu/d firmcapacity package through the end of April, but also is releasing thesame quantity with the same delivery and receipt points for a muchlonger term: May 1 through December 31, 1999, which is the end of thecontract term for NGC.
April 8, 1998
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