Reaffirmed

Oneok Inc. reaffirmed its 2005 earnings forecast last week with an expectation of higher net income. However, earnings in its production unit are expected to fall because of an anticipated drop in natural gas volumes.

Oneok Inc. reaffirmed its 2005 earnings forecast this week with an expectation of higher net income. However, earnings in its production unit are expected to fall because of an anticipated drop in natural gas volumes.

Kerr-McGee Inc. reaffirmed its oil and gas production forecast for this year, but warned investors that total output in 2004 could drop more than 7%, after the planned sale of some of its producing assets.

Kerr-McGee Inc. reaffirmed its oil and gas production forecast for this year, but warned investors that total output in 2004 could drop more than 7%, after the planned sale of some of its producing assets.

The FERC majority has reaffirmed a noteworthy ruling to reassert jurisdiction over a portion of gas gathering facilities on North Padre Island (NPI) that Transcontinental Gas Pipe Line had spun down to its gathering affiliate, Williams Field Services Co. (WFS). But Commissioner Nora M. Brownell, who voted in favor of the order last year, signaled a change of heart.

El Paso Energy Partners LP reaffirmed its earnings, cash flow and distributions guidance for the year and confirmed that it will buy the San Juan Basin gathering, compression, and treating system from general partner El Paso Corp., which intends to use the proceeds to strengthen its balance sheet. The San Juan assets include a 5,500-mile gathering system that is connected to 9,600 gas wells in northwestern New Mexico.

Coming off of a tough week because of an announcement of lower earnings guidance, Bedminster, NJ-based NUI Corp. Thursday reaffirmed the positive performance of its energy trading and portfolio management business and declared its regular quarterly dividend on Thursday. The company said that while trading will be limited going forward because of its strict credit requirements on counterparties and declining liquidity in certain markets, the trading division is still expected to post relatively strong earnings.

The National Weather Service (NWS) reaffirmed that next week’s colder temperatures — on which many traders had based price hikes earlier this week — are still there, but apparently their market strength had already been milked for all they were worth. Quotes were in mild to moderate retreat in all regions Thursday.

FERC last week reaffirmed the bulk of Order 639 in which it isattempting to bring about some consistency to the regulation ofnatural gas pipelines on the Outer Continental Shelf (OCS) byimposing similar reporting burdens on all facilities. It also madea few nips and tucks in the OCS order, especially with respect thefiling date for the reports and and the types of shippers that areexempted.