The Interior Department’s Minerals Management Service (MMS) is disputing published allegations that top agency officials blocked auditors from recovering millions of dollars in oil and natural gas royalties from producers.
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Interior Disputes Claims That It Blocked Recovery of Royalties
The Interior Department’s Minerals Management Service (MMS) is disputing published allegations that top agency officials blocked auditors from recovering millions of dollars in oil and natural gas royalties from producers.
Among ‘Recovering’ Energy Giants, PG&E Shines Brightest at Financial Conference
With a nine-year, locked-in rate of return of 11.22% and 52% equity, with $3.5 billion of free cash flow in the next three to five years and an imbedded average debt cost of 4.8%, Pacific Gas and Electric Co. appeared to be the obvious “star” Thursday on a panel of six fallen energy giants discussing the financial challenges of “Rising from the Ashes.”
Raymond James Cuts Near-Term Price Forecast, but Sees Recovery Ahead
After having one of the more bullish gas price forecasts on Wall Street, Raymond James is changing its tune because there’s a good chance this winter will be one of the warmest in history. The firm said Monday it was lowering its Henry Hub price forecast for the first quarter to $2.30 from $2.75 and its forecast for the second quarter to $2.80 from $3.25. Its forecast for the year was dropped to $3.25 from $3.50, but the firm expects a strong recovery in the last two quarters of 2002.
Raymond James Cuts Near-Term Price Forecast, but Sees Recovery Ahead
After having one of the more bullish gas price forecasts on Wall Street, Raymond James is changing its tune because there’s a good chance this winter will be one of the warmest in history. The firm said Monday it was lowering its Henry Hub price forecast for the first quarter to $2.30 from $2.75 and its forecast for the second quarter to $2.80 from $3.25. Its forecast for the year was dropped to $3.25 from $3.50, but the firm expects a strong recovery in the last two quarters of 2002.
SoCal Edison: With Gas Prices Under Control, Cash Accumulates
Edison International and its financially recovering utility said last week that it expects even more of a heavy infusion of cash, and its hedges against future natural gas price volatility will permit the utility to pay off its $5.5 billion past-due debts by the end of the first quarter next year. A court settlement with state regulators is the lynch-pin that will allow Southern California Edison for the first time in a year to return to the debt market to supplement what it expects to be $4 billion in cash on hand by early next year.
Idaho Power Gets PUC OK To Recover $168.3M
Idaho Power Tuesday received the go-ahead from state regulators to immediately start recovering $168.3 million of the $227.4 million requested by the utility in its annual power cost adjustment. But any decision related to the remaining $59.1 million of Idaho Power’s request won’t come until after the Idaho Public Utilities Commission (IPUC) completes an investigation into several areas, including the activities of the utility’s non-regulated trading arm.
Prices Up in West, Down in East; October Looks Soft
Prices usually spend Mondays recovering at least partially fromthe declines of the previous Friday. Yesterday was a reversal formost eastern points-they were giving back some of the gains thathad been realized Friday. The East tended to range from flat todown as much as a dime or more on a few Gulf Coast pipes.Trunkline’s two Louisiana pools were especially weak.