Promising

Eager hunters of new supplies will have to wait a while forclear word on whether a promising nearby natural gas frontier willopen up again offshore of British Columbia’s western coastline. TheB.C. government is spreading a word of caution after industryanalysts and representatives put an enticing spin on statementsmade by provincial energy minister Dan Miller during appearances atthe 16th World Petroleum Congress last month in Calgary.

Eager hunters of new supplies will have to wait a while forclear word on whether a promising nearby natural gas frontier willopen up again offshore of British Columbia’s western coastline. TheB.C. government is spreading a word of caution after industryanalysts and representatives put an enticing spin on statementsmade by provincial energy minister Dan Miller during appearances atthe 16th World Petroleum Congress last month in Calgary.

One of the more promising independent natural gas producingcompanies, Barrett Resources Corp., announced last week itsearnings will suffer over the next few years from forward fixedprice sales in the $2.50/MMBtu range, well below current marketprices above $4/MMBtu, for a significant part of its production.

One of the more promising independent natural gas producingcompanies, Barrett Resources Corp., announced last week itsearnings will suffer over the next few years from forward fixedprice sales in the $2.50/MMBtu range, well below current marketprices above $4/MMBtu, for a significant portion of its production.

Joe B. Foster, the new chief — at least for now — of BakerHughes Inc., is promising improved performance to shareholders inthe wake laggard stock performance and the disclosure of accountingirregularities that have launched a slew of investor lawsuits.

Joe B. Foster, the new chief — at least for now — of BakerHughes Inc., is promising improved performance to shareholders inthe wake of the disclosure of accounting irregularities that havelaunched a slew of investor lawsuits.

Natural gas futures closed higher after a weak start yesterdayas traders were able to look past the dismal fundamental outlook tofocus on the short-covering activity at hand. That lifted the Marchcontract a modest 3.4 cents to finish at $1.86 on its first day asthe prompt month.