Participate

FERC’s Stephen Harvey, along with the publishers of natural gas price indexes and other industry experts will participate on a panel discussing gas index pricing at a workshop session prior to the Minerals Management Services’ Industry Awards Program on April 26 in Houston, TX. The panelists will explore whether published gas price indexes in the U.S. have sufficient liquidity, transparency and accuracy to represent the value of gas commodities in the current marketplace. The program, which will begin at 8:30 a.m., will be held at the Houston InterContinental Hotel at 2222 West Loop South in Houston. There will be no cost to attend the panel discussion. Reservations for the awards luncheon can be made at www.mms.gov

FERC staff reported Wednesday 100% compliance with a final rule that requires regulated natural gas and oil pipelines and public utilities who participate in intra-corporate pool arrangements with their unregulated parents and affiliates to submit written agreements to the agency for agreement.

Large producers, both majors and independents, “have confidence that natural gas price indices are fundamentally sound,” the Natural Gas Supply Association said in a letter to FERC Chairman Pat Wood last Tuesday, refuting comments to the contrary by Apache Corp. in a Washington Post article published March 1.

Large producers, both majors and independents, “have confidence that natural gas price indices are fundamentally sound,” the Natural Gas Supply Association said in a letter to FERC Chairman Pat Wood Tuesday, refuting comments to the contrary by Apache Corp. in a Washington Post article published March 1.

Shell US Gas and Power announced it will no longer participate in a plan to build a $1.5 billion liquefied natural gas (LNG) terminal in Vallejo, CA citing problems with scheduling, expansion or cost. However, the Royal Dutch/Shell unit said it may consider building a terminal somewhere else in the state.

Shell US Gas and Power announced it will no longer participate in a plan to build a $1.5 billion liquefied natural gas (LNG) terminal in Vallejo, CA citing problems with scheduling, expansion or cost. However, the Royal Dutch/Shell unit said it may consider building a terminal somewhere else in the state.

Wilshire Oil Co. said it has signed an agreement to participate with one of the largest (non integrated) oil and natural gas companies in the United States in a major drilling program in Canada. Wilshire said it anticipates that the company’s overall gas reserves may increase by as much as 31% by this year-end as a result of this program. Under the agreement, Wilshire will have a 30% interest in a total of 380 wells, in the Medicine Hat-Hilda Area of southeastern Alberta including the 210 new gas wells to be drilled. The new wells are expected to triple the daily gas production from the unit by 2003. The project is expected to commence in the third quarter of 2002 and be completed by year-end. Cash flow from the new production will commence in the fourth quarter with full benefits realized by Wilshire from the increased production in early 2003.

Wilshire Oil Co. said it has signed an agreement to participate with one of the largest (non integrated) oil and natural gas companies in the United States in a major drilling program in Canada. Wilshire said it anticipates that the company’s overall gas reserves may increase by as much as 31% by this year-end as a result of this program. Under the agreement, Wilshire will have a 30% interest in a total of 380 wells, in the Medicine Hat-Hilda Area of southeastern Alberta including the 210 new gas wells to be drilled. The new wells are expected to triple the daily gas production from the unit by 2003. The project is expected to commence in the third quarter of 2002 and be completed by year-end. Cash flow from the new production will commence in the fourth quarter with full benefits realized by Wilshire from the increased production in early 2003.

Previously battered energy company stocks continued to participate in the general stock market upturn, with some of those that have seen the largest losses — Calpine, AES, Mirant and Williams — now recording the greatest percentage gains. Energy companies were almost uniformly in the black, from large producers and independents through marketers, pipelines and power producers. Pure electric and gas utilities showed a few stock price losses, but those were scattered.