Reacting primarily to the previous day’s meltdown in energy futures, with a side nod to the general lack of substantive weather-related load outside the northern half of the West and to overflowing storage inventories, the cash market was in massive retreat Thursday. Losses exceeded a dollar across the board, with many points falling more than a dollar and a half.
Reacting
Articles from Reacting
El Paso’s E&P Chief Resigns
Reacting to the stinging criticism of El Paso Corp.’s continued poor performance within its exploration and production (E&P) unit, the company announced late Friday that Rodney D. Erskine, president of El Paso Production Co., had resigned.
November 17, 2003
NGI Reports Bidweek Prices Drop Between 25 and 70 Cents July over June
Reacting to a string of super-healthy storage refills and forecasts of a cool summer in the eastern and midwestern population centers, July indexes dropped between 25 and nearly 70 cents/MMBtu from the prices recorded by NGI in the June bidweek. The Henry Hub came in at $5.29 in the monthly numbers released last Tuesday, or 67 cents under the June quote of $5.96.
July 7, 2003
NGI Reports Bidweek Prices Drop Between 25 and 70 Cents July over June
Reacting to a string of super-healthy storage refills and forecasts of a cool summer in the eastern and midwestern population centers, July indexes dropped between 25 and nearly 70 cents/MMBtu from the prices recorded by NGI in the June bidweek. The Henry Hub came in at $5.29 in the monthly numbers released Tuesday, or 67 cents under the June quote of $5.96.
July 2, 2003
FERC Staff to Monitor Pipes for OFO Abuses
This represents a new kind of approach by the Commission to the market, “which is that we’re acting not reacting,” said Commissioner Nora Brownell. The creation of this mechanism does not necessarily mean FERC has seen a “pattern of abuse” by pipelines that would warrant “more vigorous pursuit” of OFO activity, she noted. “We are simply setting up the mechanisms by which we will know them [OFO abuses] when we see them and be able to deal with them.”
October 12, 2001
Customers Guarded about Pipes’ Auction Initiatives
Shippers are reacting cautiously to the pipelines’auction-related proposals that would cap the reserve price – theminimum bid that pipes would accept – at the maximum lawful ratefor short-term capacity, and initiate seasonal ratemaking.
December 10, 1998
Transportation Note
Reacting to frigid weather spreading into the Southeast, Sonatis implementing an Operational Flow Order Type 3 effective todayfor four groups: Birmingham Group, South Main Zone 2, South MainZone 3 and Brunswick Line. The OFO will be extended Wednesday tothe East of Wrens and Savannah Line groups. Due to compressorproblems, Sonat said, the level of interruptible service in the twoSouth Main zones will be less than normal in limitation periods. Inaddition, an OFO Type 22 notice to become effective Wednesday forseven groups was issued by Sonat affiliate South Georgia NaturalGas.
March 10, 1998
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