Played

The tug-of-war being played out for Southern Union Co. continued on Tuesday with Energy Transfer Equity LP (ETE) topping by 25 cents a $44/share offer by Williams. The $9.4 billion bid is the second time ETE has countered Williams’ offers for the Houston-based gas pipeline company.

A crack stemming from an overstressed weld on the seam of the Pacific Gas and Electric (PGE) pipeline may have played a part in the deadly explosion last September in San Bruno, CA, according to a report issued by the National Transportation Safety Board.

A crack stemming from an overstressed weld on the seam of the Pacific Gas and Electric (PGE) pipeline may have played a part in the deadly explosion last September in San Bruno, CA, according to a report issued by the National Transportation Safety Board.

Shale giant Chesapeake Energy Corp. “has one of the industry’s best collections of natural gas assets,” but “continuing concerns about the company’s profligate spending” and accounting methods led veteran analyst Philip H. Weiss of Argus Research to trim his recommendation to “sell” last week.

Natural gas price hedges have played a big part in sustaining the onshore rig count to date, but that may not be the case in 2011, Barclays Capital analysts said last week. What may be key, they said, are 2011 forward prices.

Natural gas price hedges have played a big part in sustaining the onshore rig count to date, but that may not be the case in 2011, Barclays Capital analysts said this week. What may be key, they said, are 2011 forward prices.

The extent to which opponents of liquefied natural gas (LNG) receiving terminals in the West will go is being played out in Clatsop County, OR, where three of four elected commissioners who supported the Bradwood Landing LNG project along the Columbia River are fighting recall campaigns. Two Clatsop commissioners already are subject to an Oct. 27 vote to throw them out, and a third commissioner is the subject of a signature-gathering effort to force a third recall ballot.

The extent to which opponents of liquefied natural gas (LNG) receiving terminals in the West will go is being played out in Clatsop County, OR, where three of four elected commissioners who supported the Bradwood Landing LNG project along the Columbia River are fighting recall campaigns. Two Clatsop commissioners already are subject to an Oct. 27 vote to throw them out, and a third commissioner is the subject of a signature-gathering effort to force a third recall ballot.

After natural gas futures played dead on Monday with minimal activity in either direction, traders were awaiting a spark to steer the market’s next direction. They got that spark Tuesday as AccuWeather.com Hurricane Center Chief Forecaster Joe Bastardi warned that the U.S. Gulf Coast, which avoided the wrath of major storms and hurricanes in 2006, is at much higher risk of destructive tropical weather this year (see related story). April natural gas, which expires Wednesday, soared to a high of $7.530 Tuesday before settling at $7.503, up 24.9 cents on the day. The May contract, which takes over front-month status in after-hours trading Wednesday, added 23.2 cents Tuesday to finish at $7.615. However, prices pushed even higher late Tuesday afternoon in Globex trading due to an unsubstantiated rumor out of the Middle East.