Physical

Tulsa-based Oneok Inc. is selling subsidiary Oneok Energy Marketing Co., to Baltimore-based Constellation Energy Group Inc. for $22.5 million plus working capital.

Tennessee lifted Wednesday an Imbalance Warning on Line 300 downstream of Station 313 but asked customers to match physical flow with scheduled quantities. The pipeline also delayed a line abandonment project on its 523M-7300 and 523M-7600 lines, previously scheduled from Wednesday through Sept. 29, until Saturday through Oct. 2. The work will cause the suspension of flows at four Vermilion meters offshore Louisiana, but no additional service impact is anticipated.

As part of its 823X-1300 Line abandonment project, Tennessee will suspend physical flow from Monday through Sept. 22 at the Vermilion 51 and McIlhenney RIP 823X 1351 meters. Additionally, Tennessee said, this project will result in the inability to flow north from the Bluewater Pipeline, and in the event of a “liquid upset” all meters on Bluewater may be required to shut in. The work was moved up from previously scheduled dates of Sept. 1-31.

After dropping 20 cents lower in Tuesday morning trade as traders acknowledged high interest in hedge selling by producers and other physical market longs, the December natural gas futures contract rallied in the afternoon to close virtually unchanged from Monday. The prompt-month contract ended up closing Tuesday’s regular session at $4.264, down seven-tenths of a penny from Monday.

Tennessee said Tuesday it was lifting an Imbalance Warning in all zones, but it continued to ask customers to match physical flow with scheduled quantities.

Tennessee lifted a systemwide Imbalance Warning Monday but asked customers “to match physical flow with scheduled quantities and nominate all payback requests.”

Maritimes & Northeast (M&N) receipt nominations have exceeded delivery nominations for gas day Wednesday at the Tennessee Gas interconnect at Dracut (Meter station 30001), a physical delivery meter station. As a result, M&N said it has restricted receipt nominations at Dracut.

Maritimes & Northeast said receipt nominations have exceeded delivery nominations at the Tennessee Gas Interconnect at Dracut (Meter station 30001), a physical delivery meter station, for Wednesday. As a result, the pipeline has restricted receipt nominations at Dracut.

Tennessee said it will implement Tuesday an Imbalance Warning requiring customers to match physical flow with scheduled quantities in Zones 0, 1, L, 2 and 4 upstream of Station 219 to prevent imbalances that would threaten its operational integrity. “Due to mild weather, Bear Creek storage field testing and high utilization through Station 219 Tennessee does not have the ability to absorb imbalances caused by overdeliveries by receipt point operators into the system and undertakes from the system by delivery point operators,” the pipeline said.