The build-out of pipeline infrastructure in recent years has contributed to the efficiency of the nation’s natural gas delivery grid, as previously stranded gas can now reach high-demand markets. New trading activity and pricing locations have emerged, prompting NGI to establish new price indices for Transwestern San Juan (TSJ) and the Clarington, OH, terminus of Rockies Express (REX).
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Interior’s Salazar Dodges Questions on Colorado Top Job
Interior Secretary Ken Salazar, who previously served as Colorado’s attorney general and U.S. senator, sidestepped inquiries Wednesday about whether he might throw his hat in the ring as a Democratic candidate for governor.
People
Richard A. Varela, previously executive director of the Railroad Commission of Texas, has been tapped as executive vice president (EVP) of the Texas Independent Producers & Royalty Owners Association (TIPRO). Varela, an engineer and 40-year veteran of the oil and gas industry, “understands the regulatory, political and economic challenges we independents face,” said TIPRO President Walter “Tad” Mayfield. Varela will assume his duties Jan. 4. Donna Warndof also was promoted to vice president of public affairs. Warndof currently serves as interim EVP and has been the association’s director of public affairs for three years. TIPRO has more than 2,000 members and represents independent producers and royalty owners.
Milder Temps, Screen Push Nearly All Points Lower
After a string of nearly all gains previously in the week, cash prices finally succumbed Friday to generally moderate weather-based demand and the previous day’s futures dip of 15.3 cents. Quotes were down at all points but one. The weekend decline of industrial load added to the general bearishness.
Analysts: Linepack to Drive Shut-Ins More Than Price
As low as gas prices are — and could get — they won’t be the primary cause of production shut-ins to come. Instead, as some industry executives have previously predicted, pushback from packed pipelines will force lower-pressure wells out of the gas supply mix, Barclays Capital analysts said Tuesday.
Transportation Notes
Florida Gas Transmission (FGT) previously had ended an Overage Alert Day for market-area customers after it had been in effect for only Tuesday last week, but with Florida forecasts of highs in the mid 90s Friday and utilization of its linepack being high, a new OAD with 25% tolerance for negative daily imbalances was issued Friday.
All Assets in Service, DCP Midstream Slashes Losses
With all of its previously disrupted assets in service and the expansion of its East Texas gathering system completed, DCP Midstream Partners was able to slash quarterly losses, reporting a net loss of $42.1 million (minus $1.41/share) in 2Q2009, compared with a net loss of $153.1 million (minus $5.67) in 2Q2008.
All Assets in Service, DCP Midstream Slashes Losses
With all of its previously disrupted assets in service and the expansion of its East Texas gathering system completed, DCP Midstream Partners was able to slash quarterly losses, reporting a net loss of $42.1 million (minus $1.41/share) in 2Q2009, compared with a net loss of $153.1 million (minus $5.67) in 2Q2008.
People
Sen. Mel Martinez (R-FL), an opponent of drilling near the Florida coastline, said Friday he will not return to the Senate following the August recess. Martinez previously said he planned to leave the Senate at the end of 2010, but he moved up the date for personal reasons. Martinez often joined Sen. Bill Nelson (D-FL) in blocking measures that attempted to open the Florida offshore to oil and natural gas drilling. Florida Gov. Charlie Crist, who has his own eyes set on the U.S. Senate in 2010, will appoint a successor to serve out Martinez’s term.
Transportation Notes
Southern Natural Gas noted that as previously posted, it is in the process of abandoning its 16-inch diameter Mississippi Canyon 268 Line. As a result the West Delta 152 receipt point has been shut in and Southern is not accepting nominations there for about six days starting with Wednesday’s gas day. Since there is firm service at the point, this work constitutes a force majeure, the pipeline said.