Encana Corp. plans to continue to keep its eye on the “highest-return plays” in North America, which for the near term means more liquids and oil development and no natural gas drilling, CEO Randy Eresman said Wednesday.
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Rally Fades With Losses at Nearly All Points
Arrival of some heating load fails to offset recognition of generally weak weather fundamentals.
Natural Gas Can Wait, Says Chesapeake CEO
In recognition of the “value gap” between oil and natural gas prices, Chesapeake Energy Corp. will continue to direct a big chunk of its technological and leasehold acquisition expertise to “identify, secure and commercialize” new unconventional liquids-rich plays, CEO Aubrey McClendon said Wednesday.
Most Prices Fall; Midcontinent, Rockies Strongest
A day after a mostly rising cash market ignored general weakness in weather fundamentals, most points were down Wednesday in recognition of the dearth of weather-based support, even though cooling load was forecast to be growing a bit in some areas Thursday. The overall physical market also failed to get a boost in value from Tuesday’s second straight day of a 15.2-cent futures advance.
Most Prices Fall in Launch of April Aftermarket
Prices were down at most points Friday as daily April trading got under way. The majority softness was in recognition of moderate temperatures in most market areas, the storage injection season ending with near-record inventory in place and the drop in industrial demand that is typical of a weekend.
Raymond James Expects Solid Year for Gas Prices, E&P Stocks
Investors’ recognition of natural gas and oil price sustainability and resulting oilfield activity levels will lead to another banner year for energy investors, with gas prices expected to average $7.25/Mcf, said Raymond James analysts Monday.
EIA Proposes Monthly, Annual LNG Survey; May Consider Weekly Report Later
In recognition of the growing significance of liquefied natural gas (LNG) in the nation’s fuel supply mix, the Energy Information Administration (EIA) last Tuesday unveiled a proposed plan to begin surveying the storage data of approximately 100 active LNG storage facilities in the U.S. on a monthly and annual basis. The agency is seeking comments from potential survey respondents and other interested parties by Nov. 17.
EIA Proposes Monthly, Annual LNG Survey; May Consider Weekly Report Later
In recognition of the growing significance of liquefied natural gas (LNG) in the nation’s supply mix, the Energy Information Administration (EIA) on Tuesday unveiled a proposed plan to begin surveying the storage data of approximately 100 active LNG storage facilities in the U.S. on a monthly and annual basis. The agency is seeking comments from potential survey respondents and other interested parties by Nov. 17.
AGL Lowers 2001 Earnings Citing SouthStar Impact
Due to a revenue recognition issue at its SouthStar retail marketing joint venture, AGL Resources Inc. reported that it is revising its earnings guidance for fiscal year 2001 to between $1.49 and $1.51 per share, from the current First Call consensus of $1.55 per share. SouthStar is a partnership among AGL Resources, Piedmont Natural Gas and Dynegy Inc.
Competition Among Trading Platforms Heats Up
The battle lines are forming as competition for recognition as the top online energy trading platform heats up. The Energy Trading Platform Holding Company (ETPHCo.), comprised of six of the leading power and natural gas trading companies, has entered into a deal to purchase an interest in Atlanta-based IntercontinentalExchange, which claims to be the world’s largest Internet-based, over-the-counter (OTC) marketplace for energy and metals.