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North American natural gas drilling is up 30% from the beginning of the year and is on course to reach its 2001 peak by the fourth quarter, Merrill Lynch said in a new report on the oilfield service sector. Canadian drilling activity, which often is a good indicator of upstream spending going forward, is heading for a near record level this year.

North American natural gas drilling is up 30% from the beginning of the year and is on course to reach its 2001 peak by the fourth quarter, Merrill Lynch said in a new report on the oilfield service sector. Canadian drilling activity, which often is a good indicator of upstream spending going forward, is heading for a near record level this year.

Not only has Canadian natural gas production peaked, but it has been declining at an annualized rate of 5% over the past three months, and gas imports to the United States could be down an estimated 4% (0.5 Bcf/d) through 2003. Still, opportunities exist for exploration and production companies, according to analysts.

Not only has Canadian natural gas production peaked, but it has been declining at an annualized rate of 5% over the past three months, and gas imports to the United States could be down an estimated 4% (0.5 Bcf/d) through 2003, according to a new report by Raymond James’ energy analysts.

There’s a long summer ahead, but up to this point natural gas storage injections are going very well indeed, according to two independent analysts who now are projecting that, weather permitting, storage fill could reach the optimum levels of 2.8 to 3 Tcf by the start of winter.

There’s a long summer ahead, but up to this point natural gas storage injections are going very well indeed, according to two independent analysts who now are projecting that, weather permitting, storage fill could reach the optimum levels of 2.8 to 3 Tcf by the start of winter.

TXU Gas Co., a subsidiary of TXU Corp., on Friday requested to increase its natural gas rates in 437 incorporated cities throughout its service territory, which includes the Dallas/Fort Worth Metroplex area.

NiSource Inc. on Tuesday said cold weather and an asset sale offset the negative effects of a rate review settlement, accounting rule change and higher pension expense during the first quarter, resulting in a 5% hike in its first quarter net income from a year ago.

BC Gas Utility has applied to the British Columbia Utilities Commission for a rate increase that will add approximately 16% to the typical residential customer’s total gas bill, about 6% less than the wholesale cost the distributor believes it may have to pay over the next 12 months.