Raises

Atlanta-based AGL Resources Inc. on Friday said that its acquisition of NUI Corp. will increase 2005 earnings to a range of $2.10-2.30/share, ahead of this year’s expected earnings of $2.10-2.17. Analysts on average are expecting AGL to earn $2.23/share next year.

R.W. Beck’s energy market consultants on Wednesday revised their 2004 natural gas price at Henry Hub upward 50 cents, or 10%, to $5.86/MMBtu because, they said, world events have driven up oil prices and kept an already tight gas market in over drive.

R.W. Beck’s energy market consultants on Wednesday revised their 2004 natural gas price at Henry Hub upward 50 cents, or 10%, to $5.86/MMBtu because, they said, world events have driven up oil prices and kept an already tight gas market in over drive.

A Massachusetts state lawmaker recently laid on the table a number of safety related concerns that he believes should give FERC pause as it considers the proposed Weaver’s Cove LNG terminal near Fall River, MA [CP04-36].

A Massachusetts state lawmaker recently laid on the table a number of safety related concerns that he believes should give FERC pause as it considers the proposed Weaver’s Cove LNG terminal near Fall River, MA [CP04-36].

Record crude oil prices, continuing domestic supply concerns, rising demand from the power generation sector and limited industrial demand destruction were among the reasons UBS cited in raising its natural gas price forecast for the next couple years, as well as its “long-term equilibrium” price.

A federal bankruptcy court judge Wednesday confirmed a second amended reorganization plan for South Dakota-based NorthWestern Corp., and the energy holding company said Nov. 1 would be the likely date for emerging from Chapter 11 bankruptcy proceedings. Standard & Poor’s Ratings Services Thursday raised NorthWestern’s credit rating to “BB-” from “D,” effective with the reorganization plan’s start.

Record crude oil prices, continuing domestic supply concerns, rising demand from the power generation sector and limited industrial demand destruction were among the reasons UBS cited in raising its natural gas price forecast for the next couple years, as well as its “long-term equilibrium” price.

Despite failing miserably in their prior $8/MMBtu gas price predictions for this summer and fall (see NGI, July 5), analysts at Raymond James & Associates said in their “Stat of the Week” that once the weather returns to normal, bullish gas market fundamentals will again push prices sharply higher. Meanwhile, other forecasters are saying the opposite, predicting prices will collapse this fall (see related story).