Recording

FERC has granted Venice Gathering System LLC temporary waivers of agency standards of conduct dealing with the posting and recording of information on its website to spur the restoration of its hurricane-damaged system along the Louisiana coast.

Although most of the cash market remained in softening mode Thursday by recording losses ranging from a couple of pennies to more than 80 cents, several areas had points in the mix that were flat to as much as nearly a quarter higher. Sources suggested that the scattered rebounds and eventual screen strength were tied to growing perceptions that Hurricane Katrina-related Gulf of Mexico (GOM) shut-ins could rival those of 2004’s Hurricane Ivan for longevity.

A day after recording double-digit increases across the board, the cash market moved in the opposite direction Tuesday with declines measured in double digits at nearly all points. Heating load continued to recede in northern market areas with very little new air conditioning load surfacing to offset the demand loss, and Monday’s screen drop of 4.2 cents was followed by further softness at Nymex Tuesday.

Post-weekend prices bowed to weaker weather fundamentals in recording mostly moderate losses, from a mere couple of pennies to a little more than 15 cents Monday (a couple of flat to slightly higher points managed to creep into the overall mix). A solid majority of declines were in single digits.

Based on interviews with Wall Street analysts the Department of Energy’s (DOE) inspector general Friday cleared FERC Chairman Pat Wood and Commissioner Nora Brownell of revealing during a conference call with the analysts how they would vote in high-profile western power contract cases, although he said he had “no way of confirming” that since no transcripts of the call were made. He recommended that the agency record or transcribe any conference calls to avoid similar questions in the future.

The cash market was looking both forward and backward Friday in recording gains ranging from just above flat to more than 30 cents at a majority of points. The look back was at Thursday morning’s report of a 114 Bcf storage refill, which many apparently felt was subpar despite its large volume, and the accompanying futures spike of 36 cents that day. The gaze ahead was riveted on forecasts of above normal temperatures this week in the key Midwest and Northeast market areas.

Spurred by high prices, the natural gas exploration and production industry blew away the record books in 2000, recording an “unusual” 6% increase in proved reserves, “by far the largest increase since the Energy Information Administration (EIA) has been estimating the nation’s proved gas reserves.”

Spurred by high prices, the natural gas exploration and production industry blew away the record books in 2000, recording an “unusual” 6% increase in proved reserves, “by far the largest increase since EIA (Energy Information Administration) has been estimating the nation’s proved gas reserves.”

Alberta Energy Co. Ltd. , one of North America’s largestindependents, turned in a stellar performance in 2000, doublingcash flow and recording net earnings up five-fold, at the same timeit positioned itself for future gains, adding reserves equal to458% of production.