Registered

The Oil & Gas Asset Clearinghouse sold $56.3 million of oil and natural gas properties at its recent auction in Houston. More than 233 registered bidders competed for the 156 lots offered, and 35% were purchased by Internet bidders.

The Oil & Gas Asset Clearinghouse sold $56.3 million of oil and natural gas properties at its recent auction in Houston. More than 233 registered bidders competed for the 156 lots offered, and 35% were purchased by Internet bidders.

Ending its consecutive streak of daily increases at five, the July natural gas futures contract registered a slow session on Friday, hitting a low of $6.495 before closing at $6.52, down 6.2 cents on the day. Participation was sparse as 45,845 contracts changed hands during what one trader called a “snoozer” session.

The Securities and Exchange Commission (SEC) on Monday gave the green light for Minneapolis, MN-based Xcel Energy Inc., a registered energy holding company, to sell Arizona subsidiary Black Mountain Gas Co. to Southwest Gas Corp. of Las Vegas, NV.

Eastern markets proved unable to sustain the bullishness of the day before and registered drops ranging from a nickel to 20 cents or so Wednesday. Thanks to heavy air conditioning load in some sections and supply issues, however, the West was able to keep its numbers flat to up more than 20 cents in the Rockies.

Most points registered double-digit losses ranging from a little more than a dime to about a quarter Monday. The exceptions of declines less than a dime tended to cluster in the Rockies and California, while significantly larger plunges of more than 30 cents and 80 cents were recorded at the Florida citygate and San Juan Basin respectively.

In dismissing the super-high natural gas prices registered at the California border during the western energy crisis, the Federal Energy Regulatory Commission appears to have forgotten all their previous arguments for a competitive market which allocates commodities and signals — through prices — where supplemental supplies are needed.

In dismissing the super-high natural gas prices registered at the California border during the western energy crisis, the Federal Energy Regulatory Commission appears to have forgotten all their previous arguments for a competitive market, which allocates commodities and signals — through prices — where supplemental supplies are needed.

Western markets rejoined their counterparts in the East as all points registered double-digit gains Monday that were mostly between about 15 and 30 cents. The source of the price strength remained a mystery to several sources who contended that fundamental weather demand was not that heavy outside the Upper Plains, Pacific Northwest and Rockies.