BP plc remained atop the leader board for physical natural gas sales in North America in the first quarter, with 24.5 Bcf/d in gas sales, a 22% hike year-over-year. Sempra Energy retained second place, gaining 1% in gas sales over 1Q2003.
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Prices Up a Bit Despite Lack of Fundamentals in East
A continuation of extreme heat in much of the West provided some rationale for Tuesday’s small upticks in that market area, but sources were generally at a loss to explain similar moderate firmness in the East. Actually the eastern gains tended to be slightly larger, although nearly all points were limited to single-digit increases and a few were flat to barely lower.
Falcon Gas Storage, Tractebel Terminate Storage Contract
Falcon Gas Storage last week reached a settlement with Tractebel Energy Marketing Inc. (TEMI) to terminate a contract that had provided natural gas storage service to TEMI through a Central Texas storage facility. The details of the settlement are confidential, according to a Falcon spokesman.
Falcon Gas Storage, Tractebel Reach Storage Settlement
Falcon Gas Storage has reached a settlement with Tractebel Energy Marketing Inc. (TEMI) to terminate a contract that had provided natural gas storage service to TEMI through a central Texas storage facility. The details of the settlement are confidential, according to a Falcon spokesman.
Aquila Cuts Cord with Gas, Power Marketer ACN Energy
Aquila Inc. has agreed to end a long-term relationship with natural gas and power marketer ACN Energy, in which Aquila Merchant Services Inc. provided supply, trade finance, market guarantees, loans and associated services in exchange for fees and liens on ACN Energy assets.
Aquila Cuts Cord with Gas, Power Marketer ACN Energy
Aquila Inc. has agreed to end a long-term relationship with natural gas and power marketer ACN Energy, in which Aquila Merchant Services Inc. provided supply, trade finance, market guarantees, loans and associated services in exchange for fees and liens on ACN Energy assets.
NRG Confirms Default; Subsidiary’s Credit Rating Cut to ‘D’ by S&P
Xcel subsidiary NRG Energy provided further evidence last week that it’s between a financial rock and a hard place. The company said that it did not make $78.3 million in payments due Dec. 15 on its NRG Northeast Generating LLC bond series. Meanwhile, financial settlement negotiations among NRG, its parent company Xcel and its lenders and bondholders are expected to continue.
Consultant: FERC Wrong about Inadequate Infrastructure, Massive Western Demand Growth
The staff of the Federal Energy Regulatory Commission (FERC) provided misleading information about inadequate western energy infrastructure and rapid gas demand growth in a recent report that was used in support of Commission orders on California power market design, according to energy consultant James Wilson, principal at LEGC LLC in Washington, DC.
Tips Provided for E&P Survival in Volatile Gas Market
E&P companies that survive and profit in the continuing volatile natural gas market will have to balance growth with profitability and avoid some of the typical pitfalls that can send a company into a crisis mode, Arthur L. Smith, chairman of John S. Herold Inc. told a GasMart/Power 2002 audience in Reno, NV, last Tuesday.
Tips Provided for E&P Survival in Volatile Gas Market
E&P companies that survive and profit in the continuing volatile natural gas market will have to balance growth with profitability and avoid some of the typical pitfalls that can send a company into a crisis mode, Arthur L. Smith, chairman of John S. Herold Inc. told a GasMart/Power 2002 audience Tuesday.