Noting

New CPUC Commissioner Confirmed by State Senate

After noting that state regulators are in office to carry out the will of state lawmakers, Susan Kennedy was quickly cleared by the Senate Rules Committee last week for confirmation as the new commissioner at the California Public Utilities Commission.

April 16, 2003

Raymond James Labels Tight Gas Market ‘Chronic,’ Not Quickly Cured

Noting that some participants in the energy sector might consider his group to be the “perpetual natural gas bulls,” Raymond James & Assoc. analyst Marshall Adkins said the market has proven that “we have, in fact, been overly bearish.” Citing the summer gas storage re-fill problem, Adkins said that Raymond James is once again upping its 2003 gas price forecast from $5/Mcf to $6/Mcf.

March 24, 2003

Raymond James Labels Tight Gas Market ‘Chronic,’ Not Quickly Cured

Noting that some participants in the energy sector might consider his group to be the “perpetual natural gas bulls,” Raymond James & Assoc. analyst Marshall Adkins said the market has once again proven that “we have, in fact, been overly bearish.” Citing the summer gas storage re-fill problem, Adkins said that Raymond James is once again upping its 2003 gas price forecast from $5/Mcf to $6/Mcf.

March 18, 2003

Anadarko Exec Says E&P Industry Needs Better Domestic Access

Noting that domestic natural gas supplies are “critical” to national security, Anadarko Petroleum Corp. CEO John Seitz said the U.S. oil and gas industry stands in a position where it could increase supply if it were provided with “better access” to U.S. lands where E&Ps can explore.

March 10, 2003

Anadarko Exec Says E&P Industry Needs Better Domestic Access

Noting that domestic natural gas supplies are “critical” to national security, Anadarko Petroleum Corp. CEO John Seitz said the U.S. oil and gas industry stands in a position where it could increase supply if it were provided with “better access” to U.S. lands where E&Ps can explore.”

March 5, 2003

ChevronTexaco’s O’Reilly Urges Unified Energy Effort at Restoring Image

Noting that the challenged oil and natural gas industry currently has a “weak reputation,” ChevronTexaco CEO David J. O’Reilly said the key to restoring confidence is through improved communications, performance and behavior.

February 24, 2003

Chev-Tx’s O’Reilly Urges Unified Energy Effort at Restoring Image

Noting that the challenged oil and natural gas industry currently has a “weak reputation,” ChevronTexaco CEO David J. O’Reilly said the key to restoring confidence is through improved communications, performance and behavior.

February 19, 2003

Transportation Notes

Florida Gas Transmission initiated a new Overage Alert Day notice Thursday with 15% tolerance for negative daily imbalances. Noting that forecasts for its market area indicated below freezing temperatures from the Panhandle to central Florida through Friday, FGT said it expects to tighten the tolerance for Friday’s gas day to 5% or lower. An update will be posted around 8 a.m. EST Friday, the pipeline said.

January 24, 2003

Morgan Stanley Cuts Earnings Estimates for 11 Utilities

Morgan Stanley analysts on Tuesday cut their earnings estimates for 11 North American electric utilities, noting the “dilution from recent equity deals and weakness in trading and merchant power.” Allegheny Energy’s estimated earnings dropped the most, with analysts cutting the company’s expected earnings through 2002 17%, to $2.90 from $3.50.

July 8, 2002

Moody’s Expanding Research, Analysis with Specialist Teams

Noting the “growing relevance and importance to investors and lenders,” Moody’s Investors Service announced Thursday it will expand its research and analysis in several areas of corporate credit analysis. The credit ratings service said it would apply “greater analytical focus and commit additional resources to its analysis and published research on the quality of financial accounting and the transparency of corporate disclosure, corporate governance issues, and risk management and derivatives issues related to credit.”

June 17, 2002