Posting

Noting that at the end of August it had experienced significant long imbalances after posting the final cash-out index, Sonat said Wednesday that “similar economic conditions exist this month.” Shipper were advised to monitor the bulletin board for possible issuance of a Type 6 OFO for the weekend if flowing supply levels and demand cause Sonat to exceed its maximum storage injection capability.

Even with natural gas and crude oil prices posting slight gains earlier this month, exploration and production (E&P) shares continued their decline as they got caught in the overall down-draft of the market, according to Robert Morris of Salomon Smith Barney (SSB). E&P shares ended the first week of April down 3.5%, on average, while WTI spot crude oil prices gained nearly 3%, and composite spot natural gas prices rose more than 1%.

Even with natural gas and crude oil prices posting slight gains last week, exploration and production (E&P) shares continued their decline as they got caught in the overall down-draft of the market, according to Robert Morris of Salomon Smith Barney (SSB). E&P shares ended last week down 3.5%, on average, while WTI spot crude oil prices gained nearly 3%, and composite spot natural gas prices rose more than 1%.

Infant online trading system Intercontinental Exchange (ICE) continues to rack up impressive results, posting over 95 Bcf of physical gas trading, along with almost 970 Bcf of financial gas trading and 40 million MWh of power dealing in its first six and a half weeks of commercial operation.

Infant online trading system Intercontinental Exchange (ICE)continues to rack up impressive results, posting over 95 Bcf ofphysical gas trading, along with almost 970 Bcf of financial gastrading and 40 million MWh of power dealing in its first six and ahalf weeks of commercial operation.

Northwest finally issued an OFO on Friday after posting warningsmost of the week. Primary nominations flowing north through theKemmerer Compressor Station on Friday exceeded available capacityat that point because of a shortfall in displacement volumes. Thedeclared Stage II (8%) entitlement for delivery points north of theKemmerer Compressor is in effect until further notice. Grants PassLateral requests are exceeding the design capacity at Oregon City,McMinnville, Albany and Eugene. Nominations were cut to designcapacity for the timely process, Northwest said. Kemmerer primarynorthbound volumes remain high with heavy reliance on displacement.NWP cut all alternate capacity at Green River for the timelyprocess.

Less than 24 hours after posting a new all-time high for aprompt month, the July contract was hit with massive longliquidation that sent the expiring contract 31.7 cents loweryesterday to $4.369.

“Wanted: entry-level workers, roustabouts, floorhands, mechanicsand electricians. Training, benefits provided.” It’s a virtualposting in drilling companies’ offices across North America.Unemployment is so low, and jobs so plentiful across nearly everyjob sector that finding potential employees who are willing to workfor low-end wages in the oil and gas industry has reached acritical stage.

Mojave Pipeline reversed an earlier bulletin board posting (see Daily GPI, June 16), emphasizing that itwould “not” shut in part of its West Lateral Thursday and cause theshut-ins of “17Z”-labeled interconnects with Chevron, Mobil, Shell andTexaco. However, Mojave said, a maintenance shut-in of the Oxy 17Zinterconnect was to proceed as scheduled Thursday and today.