Raised

In a maelstrom of bullish news, Sempra Energy Thursday not only reported sharply increased third quarter and nine-month earnings results, but also increased its overall profit projections for the year, predicting bigger growth in all three main business units and a reorganization effective next year that will split up its lagging energy services business.

In a maelstrom of bullish news, Sempra Energy Thursday not only reported sharply increased third quarter and nine-month earnings results, but also increased its overall profit projections for the year, predicting bigger growth in all three main business units and a reorganization effective next year that will split up its lagging energy services business.

In a maelstrom of bullish news, Sempra Energy Thursday not only reported sharply increased third quarter and nine-month earnings results, but also increased its overall profit projections for the year, predicting bigger growth in all three main business units and a reorganization effective next year that will split up its lagging energy services business.

Presentations were made, questions raised, and most important, assumptions aired during last Tuesday’s kickoff meeting in Sacramento for the Western Governors’ Association (WGA) natural gas supply/demand study of the West region of North America. Additional input before the research begins is due to the California Energy Commission (CEC) by July 7.

EnCana Corp. last week raised its sales growth forecast to 12% this year — 2% higher than originally predicted, and pumped up its 2004 capital budget by $850 million. The new forecast only takes into account organic growth, but with its recent Tom Brown Inc. acquisition, EnCana expects 2004 sales to reach 725,000-765,000 boe/d, a 15% midpoint increase from 650,200 boe/d in 2003 sales.

EnCana Corp. on Tuesday raised its sales growth forecast to 12% this year — 2% higher than originally predicted, and pumped up its 2004 capital budget by $850 million. The new forecast only takes into account organic growth, but with its recent Tom Brown Inc. acquisition, EnCana expects 2004 sales to reach 725,000-765,000 boe/d, a 15% midpoint increase from 650,200 boe/d in 2003 sales.

The Energy Information Administration (EIA), in its Short-Term Energy Outlook for June, again raised its projection for the average spot price of natural gas this year — by 7% to an average of $6.20/Mcf from the $5.80/Mcf that it had projected last month.

The Energy Information Administration (EIA), in its Short-Term Energy Outlook for June, again raised its projection for the average spot price of natural gas this year — by 7% to an average of $6.20/Mcf from the $5.80/Mcf that it had projected last month.

Lehman Brothers is forecasting that only three new liquefied natural gas (LNG) import terminals, out of a total of about 40 proposed terminals, will be built in North America by 2010 for a total of seven operating terminals, which will represent about 10% of U.S. gas supply compared to about 2.5% in 2003.