Respond

The American Petroleum Institute (API) has asked the appellate court in Washington, DC, to respond to requests for rehearing of its decision vacating the existing five-year offshore leasing plan before producers risk millions of dollars by bidding on blocks offered at the next scheduled Gulf of Mexico (GOM) lease sale in August.

Most points stayed close to flat Tuesday in a cash market that seemed to have trouble deciding how to respond to varying weather and futures influences.

The American Petroleum Institute (API) has asked the appellate court in Washington, DC, to respond to requests for rehearing of its decision vacating the existing five-year offshore leasing plan before producers risk millions of dollars by bidding on blocks to be offered at the next scheduled Gulf of Mexico (GOM) lease sale in August.

Choosing to respond to renewed strength in the U.S. dollar instead of a bullish natural gas storage injection report of only 12 Bcf, December natural gas futures sank back below the $7 mark in Thursday morning trade. Thursday ended up bringing the contract’s streak of higher closes to an end at four as December futures finished at $6.979, down 27 cents from Wednesday’s close.

A House subcommittee will hold a hearing Wednesday to respond to requests for the federal government to change its law requiring natural gas pipelines to reinspect their systems every seven years.

FERC Commissioners Philip Moeller and Marc Spitzer are asking panelists who appeared at a recent technical conference on the agency’s enforcement policy to respond to a number of follow-up questions.

FERC Commissioners Philip Moeller and Marc Spitzer are asking panelists who appeared at a recent technical conference on the agency’s enforcement policy to respond to a number of follow-up questions.

Both the cash and futures markets appeared to respond to influences in seemingly illogical ways Thursday. Despite strong prior-day screen support and spreading cold temperatures in northern market areas, cash prices fell at most points. And for the second Thursday in a row, prompt-month futures shrugged off an undeniably bearish storage report to post a strong gain.

Cook Inlet, AK, producers and others have until March 19 to respond to a request for proposal (RFP) for gas supplies from Alaska Pipeline Co. and ENSTAR Natural Gas Co. The companies have supplies termed up through 2008 but will need additional supply beginning in 2009.