Rapidly

Despite claims to the contrary, the influence of non-commercial trading in the gas futures market is growing rapidly and the industry will have to adapt, said Tom Lord, president of Volatility Managers LLC. The question of how it will adapt is not easy to answer, but the process is likely to be painful for most, and could include an exodus of industrial customers seeking shelter in countries with regulated markets.

Gulf production shut-ins were mounting rapidly Tuesday but mild weather, more than adequate gas in storage and weak demand helped pushed gas prices lower at many locations outside the Gulf Coast region. Points in the Northeast were mixed with prices declines reaching as much as 15 cents at some points while there were small increases at others. Midcontinent, Western and Canadian prices fell 5-10 cents but Texas quotes were mixed.

Rapidly expanding Crosstex Energy LP, a Texas-based midstream natural gas company, Thursday said it had completed the previously-announced acquisition of the LIG Pipeline Co. and its subsidiaries (LIG Inc., Louisiana Intrastate Gas Co. LLC, LIG Chemical Co., LIG Liquids Co. LLC and Tuscaloosa Pipeline Co.) from American Electric Power (AEP) for $76.2 million.

Rapidly expanding Crosstex Energy LP, a Texas-based midstream natural gas company, Thursday said it had completed the previously-announced acquisition of the LIG Pipeline Co. and its subsidiaries (LIG Inc., Louisiana Intrastate Gas Co. LLC, LIG Chemical Co., LIG Liquids Co. LLC and Tuscaloosa Pipeline Co.) from American Electric Power (AEP) for $76.2 million.

Increasing its natural gas gathering and processing footprint in the rapidly growing Fort Worth Basin, Houston-based Enbridge Energy Partners LP (EEP) signed a $247 million purchase agreement with Cantera Resources Inc., an affiliate of Morgan Stanley Capital Partners, for about 2,000 miles of gathering lines and five active processing facilities in North Texas.

With some of the largest fields ever found in the Gulf of Mexico just starting to be developed, gas production from the deepwater Gulf is increasing at a rapid rate and should be more than adequate to offset declines in production from the Outer Continental Shelf, according to a new analysis by Energy and Environmental Analysis Inc.

With some of the largest fields ever found in the Gulf of Mexico just starting to be developed, gas production from the deepwater Gulf is increasing at a rapid rate and should be more than adequate to offset declines in production from the Outer Continental Shelf, according to a new analysis by Energy and Environmental Analysis Inc.

Rapidly rising cash flow from growing production and high commodity prices has led Houston-based Edge Petroleum Corp. to more than double its capital spending budget for the year. The company’s board of directors approved an increase in its 2003 capital spending budget to $35 million, compared to the original $15.3 million budgeted.

A rapidly falling U.S. natural gas supply and increased power demand will lead to higher liquefied natural gas (LNG) imports over the next 10 years, according to a detailed analysis by Thomas R. Driscoll of Lehman Brothers.