Projected

Subsea well operation and construction specialist, Cal Dive International Inc., said Wednesday that four tropical weather systems have “significantly” reduced expected utilization of the company’s fleet of marine construction vessels in the last six weeks of the third quarter. As a result, Cal Dive said it now estimates third quarter earnings per share in a range of 8 to 11 cents in contrast to First Call consensus estimates of 23 cents.

Unconventional gas sources, particularly liquefied natural gas (LNG), will play a critical role in supplying a projected 33-34 Tcf gas market over the next two decades, according to a new study by an Alexandria, VA-based energy consulting firm. But even with added supply from non-traditional sources, Energy Ventures Analysis Inc. (EVA) believes the industry will be challenged to meet future demand requirements.

Subsea well operation and construction specialist, Cal Dive International Inc., said Wednesday that four tropical weather systems have “significantly” reduced expected utilization of the company’s fleet of marine construction vessels in the last six weeks of the third quarter. As a result, Cal Dive said it now estimates third quarter earnings per share in a range of 8 to 11 cents in contrast to First Call consensus estimates of 23 cents.

BP said hydrocarbon production growth for the third quarter is expected to be around 5% — lower than previously projected due to “operational problems” during the month of August associated with some of the company’s assets. BP provided an update of the outlook statement in its half-year results contained in its 6-K filing last week with the U.S. Securities and Exchange Commission.

BP said hydrocarbon production growth for the third quarter is expected to be around 5% — lower than previously projected due to “operational problems” during the month of August associated with some of the company’s assets. BP provided an update of the outlook statement in its half-year results contained in its 6-K filing Wednesday with the U.S. Securities and Exchange Commission.

New England’s electric power supplies are projected to be adequate to handle demand this summer, but several unexpected events could result in localized problems that could lead to tight power supply situations, ISO New England, operator of the region’s electric power grid, said last Monday in its annual summer forecast.

Based on the weather forecast and projected system demand, Sonat advised shippers that the OFO Type 3 implemented Wednesday for eight market-area groups, along with capacity allocations for four other groups, are being canceled today.

Citing the current weather forecast and projected system demand, Sonat notified shippers Monday that eight market-area groups (Birmingham Group, South Main Zone 2, Atlanta Group, South Main Zone 3, East of Wrens, South Georgia-Lee County, Brunswick Group and Savannah Group) will be subject to an OFO Type 3 effective with the start of today’s gas day (Wednesday) until further notice. Concurrent with the OFO, Sonat also will be allocating/limiting interruptible capacity in the Chattanooga Group, East Tennessee Group and North Alabama Group.

Sonat said Friday that based on system conditions and projected demand, it did not expect to implement an OFO Type 3 or Type 22 through Tuesday. “However, current forecasts show cold temperatures through the end of next week. We also expect an increase in load for the start of the gas day” Jan. 2, the pipeline continued, urging shippers to keep their after-hours contacts up to date in case an OFO became necessary to protect the system’s operational integrity. A hotline for OFO and system status updates is available at (800) 315-0575.