Near-flat pricing prevailed Wednesday as generally moderate weather continued to dominate the outlook but some below-freezing lows remained in the northern forecasts. Slightly softer numbers were again in the majority, but losses were much smaller than a day earlier and nearly balanced by flat to higher quotes.
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Denver Producer Prevails in Gas Royalties Case
K.P. Kauffman Co. Inc. (KPK), a privately owned Denver-based producer, has prevailed in a class-action lawsuit that sought more than $10.6 million for underpayment of natural gas royalties.
Denver Producer Prevails in Gas Royalties Case
K.P. Kauffman Co. Inc. (KPK), a privately owned Denver-based producer, has prevailed in a class-action lawsuit that sought more than $10.6 million for underpayment of natural gas royalties.
Market Gets Stronger, But Still Mostly Soft
Softness prevailed again Wednesday in most of the cash market despite lows around the freezing level or less returning in the Thursday forecasts for most locations in the Midwest and Northeast. However, there was a much closer balance between rising and falling points, indicating a bit more price strength than before.
Moderation Trends, Futures Push All Points Lower
The cash market continued its break from the pattern of mixed pricing that prevailed every day last week. The direction of price movement was uniform at all points again Tuesday, but this time it was down instead of up. Moderating weather trends in the Midwest, to be duplicated to a lesser extent over the rest of the week in the Northeast, combined with the pre-existing scarcity of heating load in the South to ease overall spot gas demand.
Nearly All Price Drops in Teens; PG&E Citygate Up Slightly
The cash market maintained Tuesday the generally somber mood that has prevailed since last week’s terrorist attacks, although sources continued to report small progress here and there towards a return to “normal” trading. Bullish factors were in scant supply, so prices softened at virtually all points except at the PG&E citygate.
Prices a Bit Firmer as Market Holds Breath Awaiting AGA
Much of the market seemingly was put on hold Tuesday as flat to slightly higher numbers prevailed. Tropical Storm Chantal continued to recede as a potential threat to Gulf production, and hot weather demand remained generally light outside the Texas-Louisiana Gulf Coast and Midcontinent areas. Mostly, though, the market was reported as very quiet as the trading community awaited this afternoon’s first release of new AGA storage data since last week’s bombshell of a low volume.
CA Prices Fall Hard; Other Points Make Slight Gains
Continued strength prevailed for most of the cash marketyesterday as prices at many points made small gains of 2-5 centswith one major exception: California. Cooler temperatures andforecasts for continued cool weather reduced power demandsignificantly and spot prices for gas at the southern borderplummeted another 15 cents. San Juan prices lost another dime.
California Schedules Slower Unbundling
The perception that there is no need to “rush” natural gasunbundling and customer choice has prevailed in Californiafollowing actions by the state legislature and energy regulators.That allows the major investor-owned gas utilities to prepare formore competition and gain more experience in wide-rangingsettlements that they negotiated with their major suppliers,shippers and marketers.
Amoco Canada Not Fazed by BP/Amoco Marriage
Excitement and anticipation, rather than anxiety, prevailed onthe Canadian end of the mammoth merger announced earlier this monthbetween British Petroleum (60%) and Amoco Corp. (40%), thanks tonatural gas.