Remain

On the heels of a three-day, 77-cent price rally, natural gas futures took a much-needed breather Tuesday as light profit taking by day traders and commercial hedgers demoted the prompt contract off its recent high. The April contract closed at $3.256, down 4.9 cents for the session, but more than a dollar above its Jan. 28 low. Estimated volume of 121,262 was heavy considering the modest price retreat.

The National Oceanic and Atmospheric Administration (NOAA) said last week that the little devil El Nino is back, warming up the waters in the equatorial Pacific region and possibly setting the stage for a weaker hurricane season but also an increase in the number of storms next winter along the East Coast.

Don Cash will step down as CEO of Questar Corp. effective May 1 but will remain chairman of the company’s board of directors. The board elected Keith O. Rattie as president and CEO, also effective May 1. Cash became president and CEO of Mountain Fuel Supply Co., a Questar predecessor on March 1, 1982. He as served as chairman since 1985, but resigned from his position as president in February 2001. Rattie is currently president and COO, the titles he assumed upon joining Questar in February 2001. He previously had been senior vice president of Coastal Corp. and president and CEO of Coastal Gas Services Co. Rattie also had worked for Chevron Corp. in various engineering and management positions.

El Paso said the Pecos River Station’s #2 turbine will remain down longer than planned due to damage discovered during an ongoing overhaul. Capacity through Pecos River will be cut by 60 MMcf/d through Nov. 20.

While energy analysts remain shell-shocked following the brazen terrorist attacks on the nation’s financial distriction and admit they have “no answers” for industry, some predict that the war-provoking events may cause the public, Capitol Hill lawmakers and investors to look more favorably upon North American energy producers, service companies and pipelines.

While energy analysts remain shell-shocked following the brazen terrorist attacks of last week and admit they have “no answers” for industry, some predict that the war-provoking events may cause the public, Capitol Hill lawmakers and investors to look more favorably upon North American energy producers, service companies and pipelines.

California’s anti-bypass policy would remain firmly in place on Southern California Gas’ system under a peaking service proposed by SoCal that was approved last week by a California Public Utilities Commission (CPUC) judge (see NGI, June 4), according to the sponsor of a prospective pipeline.

California’s anti-bypass policy would remain firmly in place on Southern California Gas’ system under a peaking service proposed by SoCal that was approved last week by a California Public Utilities Commission (CPUC) judge (see Daily GPI, June 4), according to the sponsor of a prospective pipeline.

Plans to separate Baltimore Gas & Electric’s parent Constellation Energy Group into two publicly traded corporations remain on track for completion this year, Christian Poindexter, the company’s CEO, told shareholders at the end of last week.