Optimistic

After four failed attempts at a broad energy bill, the head of Atmos Energy remains optimistic about the chances for comprehensive legislation to pass next year in the 109th Congress.

After four failed attempts at a broad energy bill, the head of Atmos Energy remains optimistic about the chances for comprehensive legislation to pass next year in the 109th Congress.

After four failed attempts at a broad energy bill, the head of Atmos Energy remains optimistic about the chances for comprehensive legislation to pass next year in the 109th Congress.

With solutions underway on the regulatory, legislative and financial fronts, PG&E Corp. and its combination utility are optimistic that they will reach several key milestones by mid-year.

With solutions underway on the regulatory, legislative and financial fronts, PG&E Corp. and its combination utility are optimistic that they will reach several key milestones by mid-year.

Despite its effort to move past the restructuring period it started more than a year ago, Dynegy Inc. lost ground in the first quarter, with its power generation business down 35% and a huge loss in its energy risk management unit. The Houston-based company reported net income of $74 million (15 cents/share), down from $147 million (17 cents) in 1Q2003, and revenue fell to $1.66 billion from $1.88 billion.

The 350 Bcf reduction in Sable Offshore Energy Project (SOEP) gas reserves estimates taken by Shell Canada and Pengrowth Energy Trust is a big disappointment for the companies, the gas industry and the province of Nova Scotia, but analysts now believe Sable producers could team up with EnCana and possibly other exploration companies — Canadian Superior and El Paso, for example — to maintain production and improve long-term development economics.

The 350 Bcf reduction in Sable Offshore Energy Project (SOEP) gas reserves estimates taken by Shell Canada and Pengrowth Energy Trust is a big disappointment for the companies, the gas industry and the province of Nova Scotia, but analysts now believe Sable producers could team up with EnCana and possibly other exploration companies — Canadian Superior and El Paso, for example — to maintain production and improve long-term development economics.

The energy industry is beginning to trust itself again, and while it may take time, in the end the producers want to produce, the consumers want to consume and “somebody has to take care of delivery” — which eventually will lead to a return of energy merchants, Chuck Watson said Thursday.