Reporting

Reporting a sea of red ink from its aborted merger and the shrinking of its trading business, Constellation Energy Group’s senior officials last Wednesday expressed confidence that the pending joint venture on its nuclear power plant fleet with Electricite de France SA (EDF) will bring stability and liquidity to the troubled energy holding company and parent to still-profitable Baltimore Gas and Electric Co. (BG&E).

Reporting a sea of red ink from its aborted merger and the shrinking of its trading business, Constellation Energy Group’s senior officials Wednesday expressed confidence that the pending joint venture on its nuclear power plant fleet with Electricite de France SA (EDF) (see Daily GPI, Dec. 18, 2008) will bring stability and liquidity to the troubled energy holding company and parent to still-profitable Baltimore Gas and Electric Co. (BG&E).

The U.S. natural gas rig count is falling, as expected, but the horizontal drilling rig count has begun to markedly decline, with the last week of December reporting the largest single-week loss for the shale-directed rigs since 1991.

Chevron Corp. Friday posted a 112% rise in quarterly net income, its second straight quarter reporting record high earnings, but saw domestic natural gas production and worldwide production of gas and oil continue to decline.

Chevron Corp. Friday posted a 112% rise in quarterly net income, its second straight quarter reporting record high earnings, but saw domestic natural gas production and worldwide production of gas and oil continue to decline.

In reporting decreased quarterly profits for the third quarter last Thursday, Xcel Energy CFO Ben Fowke said the global credit and liquidity crisis has begun to impact Xcel’s utility operations spread across eight states. Residential and some small commercial sales are beginning to lag.

In reporting decreased quarterly profits for the third quarter Thursday, Xcel Energy CFO Ben Fowke said the global credit and liquidity crisis has begun to impact Xcel’s utility operations spread across eight states. Residential and some small commercial sales are beginning to lag.

The Department of Interior’s Minerals Management Service (MMS) Monday touted its royalty-in-kind (RIK) program in an annual report to Congress, reporting that its benefits for fiscal year (FY) 2007 more than doubled those of the previous year.

Any concerns that recent changes to the Energy Information Administration’s (EIA) natural gas storage reporting sampling process might affect energy markets appear unfounded as the government agency reported that the old and new samples were not much different, but that the new sampling procedure produced more accurate estimates.