Rest

Except for sizeable drops at non-Malin California points, the rest of the market managed to squeeze a bit more price firmness Thursday out of weather extremes ranging from unseasonably cool temperatures throughout much of the East and record-setting heat in parts of the West. Upticks in the East, Southwest basins and Pacific Northwest were quite mild, only rarely going above a nickel. The Rockies generally were up a dime or more, and Malin soared by well over a dollar.

The swing market continued to move higher Tuesday in the East and the Southwest basins, but at significantly reduced momentum. Most points ranged from flat to up about a nickel with only scattered points, mostly in the Northeast, realizing gains of more than a nickel.

Except for still-exploding Northern California numbers, the cash market was mostly in standpat mode Thursday. Eastern prices tended to move little if at all, and there was generally moderate softness in the Southwest basins and Rockies.

Mergers and acquisitions continue to thrive in the energy industry and will continue throughout the rest of the year, according to Merrill Lynch’s recently released Natural Gas Weekly Perspective for the week ending March 16. The trend is highlighted by the industry’s most recent major deal, Enbridge’s purchase of Midcoast Energy last week for $600 million (see NGI, March 19).

Mergers and acquisitions continue to thrive in the energyindustry and will continue throughout the rest of the year,according to Merrill Lynch’s recently released Natural Gas WeeklyPerspective for the week ending March 16. The trend is highlightedby the industry’s most recent major deal, Enbridge’s purchase ofMidcoast Energy last week for $600 million (see Daily GPI, March19).

Except for OFO-inspired upticks in Northern California, the restof the cash market was on a downhill track Tuesday following theholiday weekend. Most declines were in the range of 20-30 cents,but tended to be larger in the Northeast and got as high as about70 cents at the Southern California border.

Getting in line with the rest of the country that has alreadypassed the increased costs of natural gas through to its customers,Consumers Energy of Michigan has begun warning its customers thatthe three-year price freeze imposed on its voluntary Gas CustomerChoice program instituted in April 1998, will come to an end inMarch 2001.

Getting in line with the rest of the country that has alreadypassed the increased costs of natural gas through to its customers,Consumers Energy of Michigan has begun warning its customers thatthe three-year price freeze imposed on its voluntary Gas CustomerChoice program instituted in April 1998, will come to an end inMarch 2001.

The Fourth of July may have been last Tuesday, but pyrotechnicscontinued for the rest of the week in the natural gas pit astraders pushed prices lower Wednesday in sympathy with a 6% drop incrude oil prices, only to retrace a portion of those losses in ashort-covering buying spree Friday.