Prospects

Prospects for construction of Canada’s Mackenzie Valley pipeline continue to recede as the federal government lays out conditions for supporting the pioneer arctic natural gas development with favorable financial terms.

Houston-based Leor Energy LP, which is partnering with EnCana Corp. on some exploration prospects in the Bossier Trend of Robertson County, TX, said Thursday that the gross natural gas production from its Amoruso Field has reached 200 MMcf/d “and can now be comfortably counted as one of the top five largest onshore discoveries in the United States in the past decade.”

Houston-based Leor Energy LP, which is partnering with EnCana Corp. on some exploration prospects in the Bossier Trend of Robertson County, TX, said Thursday the gross natural gas production from its Amoruso Field has reached 200 MMcf/d “and can now be comfortably counted as one of the top five largest onshore discoveries in the United States in the past decade.”

San Diego Gas and Electric Co. said Tuesday that prospects look good for it to begin a four-year rollout of advanced electric and gas meters later this year. The combination utility received a favorable decision by a California Public Utilities Commission (CPUC) administrative law judge on its proposed metering program, which still requires approval by the commission.

Calgary-based Provident Energy Trust last week acquired a package of natural gas-rich prospects in the Rainbow and Peace River Arch areas of northwestern Alberta for an estimated price of C$475.9 million (US$420.4 million) after adjustments. The assets, purchased from a private independent U.S.-based producer, are 90% natural gas and currently produce 33 MMcfe/d (5,500 boe).

Calgary-based Provident Energy Trust on Tuesday acquired a package of natural gas-rich prospects in the Rainbow and Peace River Arch areas of northwestern Alberta for an estimated price of C$475.9 million (US$420.4 million) after adjustments. The assets, purchased from a private independent U.S.-based producer, are 90% natural gas and currently produce 33 MMcfe/d (5,500 boe).

Prices continued to rise at a majority of points Thursday, but once again there were a few areas of minor market weakness. Prospects for a weekend warm-up in the Northeast, along with existing hot weather in the South, Midcontinent, Plains, Rockies and Southwest, apparently trumped the bearish influence of July futures expiring 22 cents lower on Wednesday.

Working to improve the prospects for its proposed LNG terminal in the Gulf of Mexico off the coast of Alabama, ConocoPhillips has offered several concessions to the state, including guaranteeing that up to 200 MMcf/d of gas would be on call for use in the state on a monthly basis at market prices.

Working to improve the prospects for its proposed Compass Port LNG terminal off the coast of Alabama in the Gulf of Mexico, ConocoPhillips has offered several concessions to the state, including guaranteeing that up to 200 MMcf/d of gas would be on call for use in the state on a monthly basis at market prices.