Tag / Page

Subscribe

Page

CFTC Disputes That Speculators Dominate Oil Trading

The Commodity Futures Trading Commission (CFTC) has labeled “factually inaccurate” a front page report in the Washington Post that said speculators account for about 81% of the West Texas Intermediate (WTI) crude oil contracts traded on the New York Mercantile Exchange (Nymex).

September 1, 2008

BP’s Hayward Says World Energy Demand ‘Relentlessly Increasing’

BP plc CEO Tony Hayward recalls a time when energy policy was not front page news. Not any more, he said. Speaking to the World Petroleum Council in Madrid, Spain, Hayward attempted to dispel what he called “three myths” about energy.

July 7, 2008

BP’s Hayward: World Energy Demand ‘Relentlessly Increasing’

BP plc CEO Tony Hayward recalls a time when energy policy was not front page news. Not any more, he said. Speaking to the World Petroleum Council in Madrid, Spain, Hayward attempted to dispel what he called “three myths” about energy.

July 7, 2008

NorthernStar Oregon LNG Project Gives FERC Biological Study

The backers of the Bradwood Landing liquefied natural gas (LNG) project along the Oregon side of the Columbia River filed a 3,700-page biological assessment of its site, including a salmon-saving program, on Wednesday with FERC. NorthernStar Natural Gas described the document as a key to getting the final federal environmental assessment on its proposed 1 Bcf/d receiving terminal and related pipeline.

June 6, 2008

Industry Briefs

Borrowing a page from federal officials, Anadarko Petroleum Corp. has selected the Oil & Gas Asset Clearinghouse to host a lease sale auction later this month to market all of its unleased holdings in the Fayetteville Shale and Smackover play in Arkansas. Lease sales are commonly used by state and federal agencies to market drilling rights. This lease sale will be the first of its kind for a publicly held entity, according to the clearinghouse, which will market and advise Anadarko about the sale. Anadarko will offer the right to lease about 250,000 gross (206,000 net) acres throughout the state. About 170,000 net acres are considered to be in the natural gas-rich Fayetteville Shale fairway; another 5,000 acres lie within the Smackover play in southern Arkansas. The assets will be offered under predetermined lease terms, which will be available prior to the auction through the clearinghouse. Royalties retained by Anadarko will be 12.5-15%, with primary lease terms ranging from five to 10 years. The hybrid auction will be held Nov. 14-15 at the Sheraton North Houston Hotel in Houston and via the Internet. The auction will begin with the sale of Anadarko leases followed by other oil and gas properties owned by various sellers including Chevron Corp., EOG Resources Inc., McClymond Ltd., Reed Partners, Rudman Partnership, Samson Resources and Whiting Petroleum. For more information on the properties to be offered, visit www.ogclearinghouse.com.

November 5, 2007

Anadarko to Lease Arkansas Properties in First-of-Its-Kind Sale

Borrowing a page from federal officials, Anadarko Petroleum Corp. has selected the Oil & Gas Asset Clearinghouse to host a lease sale auction in November to market all of its unleased holdings in Arkansas.

October 30, 2007

Spreading Cold Helps Boost All Points

All points were on the same price page Wednesday, rising by large amounts in nearly all cases as a polar air mass that had already occupied the Midwest and Plains threatened to spread its heating load influence into parts of the South and Northeast. And although the West will still be mild to warm in the desert Southwest and inland portions of the West Coast states, it has its share of weather-related demand in the Rockies, where Denver is expected to see a second straight low in the high 20s Thursday.

October 12, 2006

Large Users Push for More Gas Supplies, Conservation; Less Volatility

End-users of natural gas are on the same page with much of the rest of the industry, seeking increased supply, more price certainty and stepped-up efficiency/conservation programs, according to an industry panel Thursday representing the industrial, utility and energy service sectors at GasMart in Denver. The panelists examined the topic of “End Users in a High-Priced Environment.”

May 8, 2006

Oregon AG Issues Opinion on New State Utility Tax Law

The long-standing “phantom tax” issue that Oregon lawmakers tried to fix this year (Senate Bill 408) prompted a 29-page opinion last Tuesday from state Attorney General Hardy Myers, giving state regulators broad authority to make annual adjustments to keep the tax payment collection component of rates consistent with what each private-sector utility pays for a given year. Consumer groups and utilities are promoting different implementation approaches.

December 30, 2005

Spikes at Virtually All Points End Sept. Trading

Following two days of mixed numbers, the cash market closed out September business Thursday with virtually all points on the same price page and skyrocketing (except for a flat Florida citygate). Dollar-plus spikes were frequent as quotes were jolted higher by the screen’s $1.251 move higher on Wednesday as October natural gas futures went off the board. Weather fundamentals are generally weak right now as comfortable early-autumn weather gets more firmly established in most areas.

September 30, 2005