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Michigan Relying More on Pipeline Imports

As natural gas production in Michigan posts its 14th consecutive year of decline, a Michigan Public Service Commission (PSC) report projects interstate pipeline deliveries to the state will be 664.2 Bcf in 2011, a 14.2% increase.

May 31, 2011

Industry Briefs

As natural gas production in Michigan posts its 14th consecutive year of decline, a Michigan Public Service Commission (PSC) report projects interstate pipeline deliveries to the state will be 664.2 Bcf in 2011, a 14.2% increase. The state’s production is projected to decline by 5.5% to 133.5 Bcf in 2011, according to the PSC’s “Summer 2011 Energy Appraisal.” Gas sales in the state are projected to be 780.7 Bcf this year, an increase of 2.4% over 2010 sales and 11.3% over 2009 sales, based on an assumption of normal weather. Residential home heating is seen as the driver for consumption growth as the 2010-2011 winter season was 3% colder than normal, the PSC report said. Despite increased sales, prices should remain relatively flat, the report said. “…[T]he continued growth in estimated and proven natural gas reserves is having a dampening effect on inflationary forces.”

May 30, 2011

Sen. Craig Temporarily Stripped of Committee Posts Amid Scandal

Sen. Larry Craig (R-ID) last week stepped down from key committee posts amid the fallout from his arrest by an undercover police detective investigating lewd conduct in a men’s restroom at the Minneapolis Airport. The embattled lawmaker was said to be on the verge of resigning from the Senate Friday, the New York Times reported.

September 3, 2007

Sen. Craig Temporarily Stripped of Committee Posts Amid Scandal

Embattled Sen. Larry Craig (R-ID) will temporarily step down from key committee posts amid Senate Republican leadership calls for his resignation in the wake of his arrest by an undercover police detective investigating lewd conduct in a men’s room at the Minneapolis Airport.

August 30, 2007

Piedmont Posts Larger 4Q Loss, 28% Increase in Fiscal Year Net Income

Piedmont Natural Gas more than doubled its net loss for its fiscal fourth quarter, but reported a 28% increase in net income for the year ending Oct. 31 to $95.2 million, or $1.27 per diluted share, which includes $4.6 million, or $0.06 per diluted share, for one-time items. The weather for the year was 9% warmer than 2003, and 5% warmer than normal, but the company’s purchase last year of North Carolina Natural Gas (NCNG) contributed to improved margins and throughput.

December 13, 2004

Piedmont Posts Larger 4Q Loss, 28% Increase in Fiscal Year Net Income

Piedmont Natural Gas more than doubled its net loss for its fiscal fourth quarter, but reported a 28% increase in net income for the year ending Oct. 31 to $95.2 million, or $1.27 per diluted share, which includes $4.6 million, or $0.06 per diluted share, for one-time items. The weather for the year was 9% warmer than 2003, and 5% warmer than normal, but the company’s purchase last year of North Carolina Natural Gas (NCNG) contributed to improved margins and throughput.

December 13, 2004

El Paso Posts 2Q Profit, Discloses Investigation in Iraqi Oil Sales

Boosted by stronger results in its regulated business units, El Paso Corp. reported Tuesday that it recorded a profit in 2Q2004. With Securities and Exchange Commission (SEC) approval, El Paso filed the quarterly statement late to reconcile prior income statements between 2001 and 2003.

November 29, 2004

El Paso Posts 2Q Profit, Discloses Investigation in Iraqi Oil Sales

Boosted by stronger results in its regulated business units, El Paso Corp. reported Tuesday that it recorded a profit in 2Q2004. With Securities and Exchange Commission (SEC) approval, El Paso filed the quarterly statement late to reconcile prior income statements between 2001 and 2003.

November 29, 2004

El Paso Posts 2Q Profit, Closes $3B in New Credit Facilities

Boosted by stronger results in its regulated business units, El Paso Corp. reported last week that it recorded a profit in 2Q2004. With Securities and Exchange Commission (SEC) approval, El Paso filed the quarterly statement late to reconcile prior income statements between 2001 and 2003.

November 29, 2004

PNM Posts Increased 3Q Earnings; Gas, Electric Growth

PNM Resources, the parent of Public Service Company of New Mexico, reported higher third quarter earnings on Friday of $27.4 million, or 45 cents/diluted share, compared to net earnings of $16.6 million, or 27 cents/share for the same period last year. Year-to-date (nine-month) earnings per share increased 3.7% to $1.13/diluted share, the holding company said.

October 26, 2004
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