North America’s Active Rig Levels Rise

Drilling has picked up to a frenzied pace as active natural gasrig numbers continue to skyrocket in the United States and Canada.Rotary rigs drilling int he United States soared by 20 last week toa new record of 736 active gas drilling rigs, according to BakerHughes’ Rig Count report. Currently there are 235 more domesticrigs actively drilling than at the same time last year.

July 24, 2000

Futures Rumble Higher on Weather and Technicals

After a tumultuous morning rally and retreat, natural gas pickedits way higher yesterday as traders looked past a mixed technicalpicture to focus instead on the possible reemergence of seasonaltemperatures by week’s end. The April contract advanced 2.5 centsto $2.85. However, the real stories were in the out months, whichgalloped higher to post gains of 3.4 cents and 3.5 cents for thesummer and 12-month strips respectively.

March 7, 2000

Dominion-CNG Marriage Conditionally Approved

The $6.4 billion merger of Dominion Resources and ConsolidatedNatural Gas (CNG) picked up approvals from the Federal TradeCommission (FTC) and the Federal Energy Regulatory Commission(FERC) last week, but both agencies included conditions to protectcustomers in Virginia.

November 15, 1999

WI Landowners Join ANR in Fighting Guardian

ANR Pipeline has picked up landowner support for its suitagainst the Wisconsin Public Service Commission (PSC) that chargesthe PSC unlawfully kept secret filings made by Wisconsin Gas forits competing Guardian Pipeline.

August 6, 1999

May Prices See Little Movement; Swing a Bit Softer

As trading for next month picked up some momentum Wednesday, theMay market appeared to be developing with less volatility than inprevious bidweeks this year. One marketer reported Chicago citygatedeals Wednesday in the exact same $2.36-39 range as he had tradedTuesday. Many other points also were reported to be staying closeto their starting levels. However, a couple of sources reportedSouthern California border numbers falling slightly to $2.22-24from the mid-$2.20s., while a marketer said Sumas was recovering tothe mid $1.90s after having dipped slightly Tuesday.

April 29, 1999

RMOGA Snuffed by Low Prices, Industry Change

Low commodity prices and industry belt-tightening picked off theRocky Mountain Oil & Gas Association (RMOGA). The trade groupsaid it will shut its doors June 1. The move comes amidreorganization of the American Petroleum Institute (API) andfollows talk last year of combining the Natural Gas SupplyAssociation with API. Clearly, the pressure is on to cut costs, andtrade association dues paying has become less of a priority.

March 24, 1999

Hot Potato TPC Picked Up By NIPSCO

TPC Corp. is changing hands yet again as PacifiCorp unloads yet another non-core asset. NIPSCO Industries subsidiary NI Energy Services is buying Houston-based TPC for $132.5 million. The deal also involves a payment for working capital to be determined at closing. NI Energy Services also gets PacifiCorp’s 66% interest (held by TPC) in Market Hub Partners LP (MHP).

February 22, 1999

Follow-Through Buying Leads Way for Futures

Adding to gains achieved during the Wednesday evening Accesstrading session, the futures market picked up momentum yesterdayamid moderate short-covering activity. The February contractfinished up 6.5 cents to $1.892 and in doing so not only settled inthe top half of its daily range, but also near the important $1.91resistance level.

January 22, 1999

Futures Spring to Life on Weather Forecasts

The futures market gave an early “head fake” — pointing lowerat the open — but support held and the market picked up momentumthroughout the trading session Monday. The December contract spikeddramatically higher near the close, registering a 11.2 cent advanceto $2.387. Despite the large trading range, volume was a little onthe light side with only 50,263 contracts changing hands.

November 3, 1998
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