A new study by the Interstate Oil and Gas Compact Commissionreports the number of idle gas and oil wells nationwide has jumpedby more than 58,000 in four years to 343,030 wells in 2000, whichillustrates the impact of low oil and gas prices over the past fewyears and the potential for increased marginal well production overthe next few years.
Articles from Nationwide
Pittsburgh-based OnlineChoice announced yesterday that it haslaunched www.GasChoice.com, a free website that allows consumersnationwide to join no-obligation natural gas buying pools.GasChoice.com is forming buying pools right now in every state sothat once deregulation hits that locale, the pools of residentialand commercial consumers with group buying power are ready to bidand ready to save, the company said. In addition, the company isaggressively developing buying pool websites for telephone service,Internet access, and home security systems, all of which arefollowing closely on the heels of GasChoice.
Thanks to an agreement announced yesterday with the softwaresolutions company Excelergy, Southern California Gas Co. (SoCalGas)will expand its energy e-commerce Web site, Energymarketplace.com,to all states that have customer choice programs. The site hadpreviously emphasized the West Coast. While SoCalGas will continueto sponsor the site, Excelergy has assumed development, marketingand sales responsibilities.
Dramatic spot price changes are expected throughout the U.S.over the next two years following the construction of proposedmajor gas pipeline projects and development of gas reserves tosupport them. A new analysis released yesterday at GasMart Power’98, NGI’s annual energy conference, by ICF Kaiser focuses on howprices and volumes would shift following several likelydevelopments: the construction of Alliance Pipeline along withexpansions of Foothills/Northern Border, construction of the Vectorand Millennium projects to move gas from Chicago to East Coastmarkets, completion of the Sable Island project and associatedMaritimes and Northeast Pipeline moving gas down the East Coast andincreased gas production in the Gulf of Mexico.