Producers of natural gas are turning a set of resource development principles articulated last year by the American Gas Association (AGA) into action, according to AGA, which this week issued a report detailing new best practices that producers are implementing.
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Volatile Financial Markets Force Delay of EnCana Breakup Plan
EnCana Corp. is delaying its plans to split into two independent energy companies because of the volatility in the global financial markets.
Shell Revises 1Q Income Upward by $226M
A change in inventory accounting principles helped Royal Dutch/Shell Group increase net income in the first quarter by $226 million to $4.7 billion, up from the previously reported $4.43 billion. The oil major last week also updated its quarterly production figures to give investors “further clarity” ahead of its second quarter results, which will be announced July 29.
Shell Revises 1Q Income Upward by $226M
Royal Dutch/Shell Group said a change in inventory accounting principles increased net income in the first quarter by $226 million to $4.7 billion. It had previously reported net income of $4.43 billion. Shell also updated its quarterly production figures, and said it was publishing the information to give investors “further clarity.” The second quarter results are scheduled to be announced July 29.
Major Energy Groups Agree on Price-Reporting Principles for Indexes
A group of six energy trade associations, a broad coalition of producers, consumers and utilities and the Committee of Chief Risk Officers (CCRO) late Monday submitted a comprehensive proposal identifying the key natural gas price reporting issues that it reached consensus on, as well as the issues on which agreement was not achieved.
Analysts Question Dynegy’s Future After 3Q Losses, ChevronTexaco Write-Downs
Dynegy Inc. reported a devastating third-quarter loss of $1.8 billion ($4.92/share) last Wednesday, warned of more writedowns in the fourth quarter, failed to offer any earnings guidance going forward, and finally stunned investors and analysts with no conference call to explain.
Order 636 Principles Needed in Power Market
A principle that was the cornerstone of FERC’s landmark gasrestructuring rule, Order 636, is absent from Order 888 and is atthe root of many of the reliability problems in the bulk powermarket, say industrial power customers and a utility/marketer.
‘Order 636’ Principles Needed in Power Market
FERC needs to dust off and review its landmark gas restructuringrule, Order 636, to get to the root of many of the reliabilityproblems in the bulk power market, say industrial power customersand a utility/marketer.