Mmcf

XTO Energy reported record first quarter natural gas production of 771 MMcf/d, a 30% increase from the first quarter of 2003, and earnings for the quarter of $94.1 million, or 40 cents per share, a 42% increase from the same period last year. The company also completed the purchase of 175 Bcfe in Texas and Arkansas gas reserves.

XTO Energy reported record first quarter natural gas production of 771 MMcf/d, a 30% increase from the first quarter of 2003, and earnings for the quarter of $94.1 million, or 40 cents per share, a 42% increase from the same period last year. The company also completed the purchase of 175 Bcfe in Texas and Arkansas gas reserves.

Transwestern Pipeline has filed an application with FERC to expand its San Juan Basin pipeline lateral by about 375 MMcf/d (a 44% increase) to accommodate new gas production from the San Juan Basin in New Mexico and other producing areas in the northern Rockies.

Transwestern Pipeline has filed an application with FERC to expand its San Juan Basin pipeline lateral by about 375 MMcf/d (a 44% increase) to accommodate new gas production from the San Juan Basin in New Mexico and other producing areas in the northern Rockies.

The months of June and July were the “low water mark” for Enterprise Products Partners LP’s natural gas liquids (NGLs) business — especially for ethane — but CEO O.S. “Dub” Andras said Monday he was “encouraged and cautiously optimistic” in recent activity for liquids.

The Federal Energy Regulatory Commission last week voted out an order to downsize and phase the construction of an already-certificated expansion of Transcontinental Gas Pipe Line Corp.’s mainline pipeline system in the Southeast region.

Weather normalized gas demand this winter has exceeded gas supply by about 750 MMcf/d on average, according to a Monthly Energy Outlook by Stephen Smith Energy Associates. This gas shortage means that gas prices will have to remain at “demand destruction” levels ($4-$7 at the Henry Hub) this summer in order for storage to be refilled to an adequate level by next fall, the consulting firm said.

Weather normalized gas demand this winter has exceeded gas supply by about 750 MMcf/d on average, according to a Monthly Energy Outlook by Stephen Smith Energy Associates. This gas shortage means that gas prices will have to remain at “demand destruction” levels ($4-$7 at the Henry Hub) this summer in order for storage to be refilled to an adequate level by next fall, the consulting firm said.

Despite Nymex’s nearly 20-cent tumble, spot gas prices were up sharply in many regions again on Monday. The only locations in the red compared to Friday were in Texas and parts of the Midcontinent. Meanwhile, New York and New England prices soared, at some points by more than $2 to more than $10/MMBtu.