Puts

Dynegy Inc. CEO Bruce Williamson told shareholders Thursday that even though the company had a successful first quarter, it has to focus on restructuring before considering any growth opportunities. First, he said, will be refinancing debt due in 2005, which will be completed before anything else is considered.

Coming one day after the Federal Trade Commission (FTC) signed off on its acquisition of the Panhandle pipeline from CMS Energy Corp., Southern Union Co. upped its earnings guidance for 2003 and 2004. Following the news the company’s shares climbed 6.5% on Friday to close at $16.30.

In what might have been the most bearish 0.4-cent increase in recent memory, natural gas futures inched higher Monday in a session marked by technical wrangling. Selling was seen at the open and again in the afternoon by funds and local traders. Most of the morning meanwhile, was the domain of bulls as short-covering lifted the market just shy of Thursday’s $5.83 high. The May contract finished at $5.713, up .04-cents for the session, but more than a dime off its $5.82 high for the day.

The Federal Energy Regulatory Commission last week pushed back by four months the effective deadline for El Paso Natural Gas to carry out a systemwide conversion of full requirements (FR) service to contract demand (CD) service, marking the second time the planned contract conversion has been postponed on the pipeline.

The Federal Energy Regulatory Commission late Monday pushed back by four months the scheduled deadline for El Paso Natural Gas to carry out a systemwide conversion of full requirements (FR) service to contract demand (CD) service, marking the second time the planned contract conversion has been postponed on the pipeline.

Marathon Oil Co. announced last week its intent to solicit offers for the company’s interests in Western Canada, which account for approximately 21,000 boe/d of net production, including about 100 MMcf/d of gas and 4,000 b/d of liquids.

Marathon Oil Co. announced Monday its intent to solicit offers for the company’s interests in Western Canada, which account for approximately 21,000 boe/d of net production, including about 100 MMcf/d of gas and 4,000 b/d of liquids.

With little fresh news available to prop it up, natural gas futures sagged to new 10-week lows Tuesday afternoon as traders contemplated whether they would rather be long or short gas for the entire month of April at a price near the $5.00 level. A rebound at the closing bell was too little and too late for the prompt month which closed beneath key support, down 17.6 cents for the session at $5.077. April will expire at 2:30 p.m. EST Thursday.

Southwest Gas Corp.’s management said it has teamed with Pima County, AZ Attorney’s 88-CRIME program to offer a reward of up to $100,000 for information that leads to the arrest and indictment of the individual or individuals responsible for the sabotage of Southwest Gas’ natural gas distribution system.