El Paso lifted Tuesday a declaration of a Strained Operating Condition for high linepack that had been issued Sunday. “Performance in the supply areas has improved and customer response has been sufficient to decrease…linepack to acceptable levels,” the pipeline said. It added that it also was ending a suspension of Interruptible Storage Service.
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El Paso Nears Completion of $8B Pipeline Backlog
El Paso Corp.’s share price on Thursday jumped almost 6% on news that the company’s 2010 performance and plans to deliver double-digit earnings this year should be enough to return the company to investment-grade status by 2012.
Range Tips Its Hat to Marcellus for Reserves Growth
Last year Range Resources Corp. grew proved reserves 42% to 4.4 Tcfe and replaced 931% of its production for the year, the company said Tuesday.
Transportation Notes
Citing low linepack, Transwestern issued an Alert Day for the West of Thoreau area for Tuesday’s gas day. Transwestern said it was utilizing an Alert Day rather than an OFO because the low linepack is not attributable to performance of particular receipt or delivery points. Transwestern said it hopes that the lowpack conditions will subside enough to allow the Alert Day to be canceled, but meanwhile operators should plan for this operating provision to be in effect for the entire gas day.
Feeling Even More of Cold’s Nip, Prices Up Again
The cash market continued this week’s strong performance for a third day Wednesday, with gains across the board that were mostly in double digits. The official start of winter is still more than a month away, but few could help thinking of it as chilly to cold temperatures dominated forecasts in most areas.
Canada’s Energy Sector on Rebound
Last year Canada’s natural gas and oil producers suffered their weakest performance since 2002, but the downturn prepared the country’s energy sector for a promising future, according to the Canadian Annual Energy Survey, an annual review of the top producers by PricewaterhouseCoopers (PwC).
Canada’s Energy Sector Seen Rebounding
Last year Canada’s natural gas and oil producers suffered their weakest performance since 2002, but the downturn prepared the country’s energy sector for a promising future, according to the Canadian Annual Energy Survey, an annual review of the top producers by PricewaterhouseCoopers (PwC).
Nexen Doubles British Columbia Shale Position
Nexen Inc. on Thursday kicked off the quarterly earnings season with good news: higher profits than anticipated and solid performance from its operating units.
Pipelines, Subsidiaries Drive AGL Earnings
Stronger performance from its distribution operations, retail energy operations and wholesale services segments helped drive AGL Resources Inc.’s 1Q2010 net income to $134 million ($1.74 cents/share), an increase of 12.6% compared with $119 million ($1.55) in 1Q2009, the Atlanta-based company said.
Pipelines, Subsidiaries Drive AGL’s 12.6% Earnings Increase
Stronger performance from its distribution operations, retail energy operations and wholesale services segments helped drive AGL Resources Inc.’s 1Q2010 net income to $134 million ($1.74 cents/share), an increase of 12.6% compared with $119 million ($1.55) in 1Q2009, the Atlanta-based company said.