Proving that skepticism over last week’s natural gas storage report was warranted, the Energy Information Administration (EIA) said Thursday morning that it significantly revised its report for the week ended Nov. 19 due to “a resubmission of data from one or more respondents.” The announcement immediately pulled the rug out from under the January futures contract, which ended up settling down 60.2 cents at $6.811.
Proving
Articles from Proving
Stone, Shell See Some Shut Ins into 1Q2005, MMS Expects 1 Bcf/d Back Nov. 1
The platform and pipeline damage from Hurricane Ivan is proving more difficult to repair than some producers thought as recently as last week. The Minerals Management Service (MMS) said on Friday that although about 1 Bcf/d of the 1.8 Bcf/d of gas production currently shut in could return to service by the end of October, it may take much longer to restore the remaining 800 MMcf/d portion.
Stone, Shell See Some Shut Ins into 1Q2005, MMS Expects 1 Bcf/d Back Nov. 1
The platform and pipeline damage from Hurricane Ivan is proving more difficult to repair than some producers thought as recently as last week. The Minerals Management Service (MMS) said on Friday that although about 1 Bcf/d of the 1.8 Bcf/d of gas production currently shut in could return to service by the end of October, it may take much longer to restore the remaining 800 MMcf/d portion.
Prolonged Shut-Ins Propel Futures to Higher Ground
Proving that Hurricane Ivan’s lasting effects on Gulf of Mexico production didn’t go unnoticed by traders, the October natural gas futures contract on Tuesday spent the day exploring resistance levels following its gap higher at the open.
Small Marketers Exiting Retail
The current natural gas market is proving a minefield for smallretail marketers, as evidenced by the drop-out rate. WesternNatural Gas, a Dallas-based marketing company, announced last weekit was phasing out its retail marketing business in the face ofincreasing natural gas prices and the capital requirementsnecessary to obtain supplies.
Fireworks Fly as GA Market Share is Defined
The end of Georgia gas deregulation process is proving to be notonly eventful, but also confusing for customers. On Tuesday (Aug.10), the day before the market share of the 20 gas suppliers was tobe determined, 77,000 gas customers in the state switched fromAtlanta Gas Light (AGL) to one of 20 marketers, for fear of beingplaced on a random assignment list, which actually won’t be made upuntil Monday.