Rebuilding

Prices rebounded at virtually all points Thursday due to gradually rebuilding cooling load after a midweek cooldown in several areas and strong prior-day screen support.

In yet another example of the majors rebuilding gas holdings in North America, Shell Canada acquired a stake in 110,000 acres of land at the recent Crown land sales in Alberta and British Columbia.

The energy industry is beginning to trust itself again, and while it may take time, in the end the producers want to produce, the consumers want to consume and “somebody has to take care of delivery” — which eventually will lead to a return of energy merchants, Chuck Watson said Thursday.

Dynegy Inc.’s CEO said Wednesday that the company had reached a “defining point” in its rebuilding process, after securing a new $1.66 billion bank credit financing package that won’t come due until 2005. The new facility replaces existing loans held by subsidiary Dynegy Holding (DHI), which would have matured over the next two months.

Dynegy Inc.’s CEO said Wednesday that the company had reached a “defining point” in its rebuilding process, after securing a new $1.66 billion bank credit financing package that won’t come due until 2005. The new facility replaces existing loans held by subsidiary Dynegy Holding (DHI), which would have matured over the next two months.