Remain

While gas prices remain camped out at record levels, R. SkipHorvath, president of the Natural Gas Supply Association (NGSA),urged state regulators yesterday to be patient until the recordnumber of gas rigs operating can do their work and providedesperately needed supply increases.

El Paso declared an Unauthorized Overpull Penalty situationThursday that will remain in effect until further notice. Thepipeline said it will limit scheduled volumes at underperforminginterconnects to insure system integrity.

Strong second-quarter earnings and cash flow and expectationsthat gas prices will remain high for some time prompted AnadarkoPetroleum to raise its 2000 spending program by 34% to $1.5billion.

Strong second-quarter earnings and cash flow and expectationsthat gas prices will remain high for some time prompted AnadarkoPetroleum to raise its 2000 spending program by 34% to $1.5billion. The raise amounts to a $384 million increase over thecombined total of Anadarko’s previously announced capital budget of$766 million and the $350 million remaining from the 2000 capitalbudget of Union Pacific Resources, with which Anadarko recentlymerged.

Citing significant demand in its market area, Florida GasTransmission issued an Overage Alert Day notice Friday that was toremain in effect until further notice east of Station 12 innorth-central Florida. The notice had a 4% tolerance for negativedaily imbalances.

Expected rises in gas demand, a relatively slow storage buildup,strong crude oil prices and fears of a repeat of last summer’s heatwave in key gas-consuming areas will pave the way for unprecedentednatural gas prices for the rest of the year, the Energy InformationAdministration (EIA) said in its short-term energy outlook forJune.

Expected rises in gas demand, a relatively slow storage buildup,strong crude oil prices and fears of a repeat of last summer’s heatwave in key gas-consuming areas will pave the way for unprecedentednatural gas prices for the rest of the year, the Energy InformationAdministration (EIA) said in its short-term energy outlook forJune.

Due to unscheduled maintenance at its Elmore (AL) CompressorStation, Sonat expects a 5,000-horsepower unit to remainunavailable until April 9. Although no reductions were anticipatedas of Sunday, it may be necessary to cut FT on a pro rata basis,the pipeline said.

TransCanada PipeLines has taken the first steps in a bold planto divest $3 billion in assets in its Canadian midstream,international and refined products transportation businesses. Thecompany sold subsidiary NovaGas Canada LP’s Provost gas plant andgathering system to a subsidiary of Midcoast Energy Resources Inc.last week for an undisclosed sum and completed the sale of its PeshCreek processing complex and East Australia pipeline system earlierthis month. The total value of the two Canadian processing planttransactions comes to about $42 million.