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Higher and more volatile natural gas prices have created opportunities for some and challenges for others. Hedging became more popular with producers last year as they attempted to lock in higher prices. Meanwhile, gas buyers tangled with a difficult market while wondering what is to come.

Phoenix, AZ, appears to be a popular destination for new natural gas deliveries as both Transwestern Pipeline and El Paso Natural Gas are working on delivering new supplies from their mainlines into the area.

Phoenix, AZ, appears to be a popular destination for new natural gas deliveries as both Transwestern Pipeline and El Paso Natural Gas are working on delivering new supplies from their mainlines into the area.

In a clear indication of who will eventually be tapped to assume the role now occupied by popular ExxonMobil Corp. Chairman Lee Raymond, the board of directors on Thursday elected Rex Tillerson president of the corporation effective Monday (March 1). Raymond, 65, will remain chairman and CEO the board said.

In a clear indication of who will eventually be tapped to assume the role now occupied by popular ExxonMobil Corp. Chairman Lee Raymond, the board of directors on Thursday elected Rex Tillerson president of the corporation effective Monday (March 1). Raymond, 65, will remain chairman and CEO, the board said.

In what is becoming a popular investment vehicle for its Canadian operations, San Jose, CA-based Calpine Corp. announced recently that it is pricing an initial sale of 18.4 million trust units at C$10/unit as part of a sale of the Calpine Natural Gas Trust (CNG Trust), which will acquire selected Calpine Canadian oil/gas properties. It is expected to close Wednesday and make its first cash distribution Dec. 15.

In what is becoming a popular investment vehicle for its Canadian operations, San Jose, CA-based Calpine Corp. announced Friday that it is pricing an initial sale of 18.4 million trust units at Cdn$10/unit as part of a sale of the Calpine Natural Gas Trust (CNG Trust), which will acquire selected Calpine Canadian oil/gas properties. It is expected to close Oct. 15, and make its first cash distribution Dec. 15, 2003.

It was a popular belief heading into last weekend that the only thing that could subvert a gap-higher open in the natural gas pit on Monday was a substantial revision in the short- and intermediate-term weather forecasts. The potential last week of Old Man Winter making one last appearance across much of the Plains, Midwest and Northeast was too scintillating for traders not to buy into it — even though the cold weather was still a week or more away.

Convertible securities are becoming a popular vehicle among energy companies as a quick fix for Wall Street’s cash flow concerns in the wake of Enron’s bankruptcy. Williams announced its own program Friday, saying it plans this week to offer $1 billion in securities automatically convertible into company stock, as part of a previously announced plan to maintain the company’s investment-grade credit ratings.