Citing high linepack and storage limitations, Northwest said itis not allowing any on-system balancing or banking through the restof September. Both the Clay Basin and Jackson Prairie storagefacilities are nearly full even though the injection seasondeadline for 100% fills is Sept. 30, Northwest said. In addition,mainline capacity is “very limited” in accepting payback volumesdirectly to linepack, the pipeline added.
Rest
Articles from Rest
Amid Volatile Times, Futures Take a Day of Rest
After tumbling 8.1 cents lower in Tuesday’s sell-off, the marketseemed to take a breather yesterday with neither bulls nor bearsable to influence price movemnet in their favor. The June contractwas limited to a tight 4-cent trading range, slipping just 0.8cents to finish at $2.254. Estimated volume was moderate, with67,082 contracts changing hands.
EIA Raises 4Q Price Forecast $0.25
Many market prognosticators have realized recently that theirgas price projections are quite a bit too low for the rest of theyear because of declining gas wellhead deliverability, a reducedstorage surplus relative to last year and ever increasing gasdemand. The Energy Information Administration joined that crowdlast week, raising its wellhead price forecast for the fourthquarter 25 cents to $2.41/Mcf.
EIA ‘Substantially’ Raises Gas Price Forecast
Many market prognosticators have realized recently that theirgas price projections are quite a bit too low for the rest of theyear because of declining gas wellhead deliverability, a reducedstorage surplus relative to last year and ever increasing gasdemand. The Energy Information Administration joined that crowdyesterday, concluding its wellhead price forecast for the fourthquarter was 25 cents too low. It raised it to $2.41/Mcf in its MayShort Term Energy Outlook.
Texaco Expects to Hold 1Q Production Levels
Texaco has halted the decline in its U.S. oil and gas productionand expects to maintain first quarter levels through the rest ofthe year, Comptroller George Batavik told analysts Wednesday.
Texaco Expects to Hold 1Q Production Levels
Texaco has halted the decline in its U.S. oil and gas productionand expects to maintain first quarter levels through the rest ofthe year, Comptroller George Batavik told analysts Wednesday.
Pogo Cuts Back While Wading Deeper Into The Gulf
Although like the rest of the industry, Houston-based PogoProducing Co. has been wrangling with super soft commodity prices,the company is wading deeper into the Gulf of Mexico with a focuson future growth.
Pogo Cuts Back But Wades Deeper in Gulf
In step with the rest of the industry as it deals with supersoft commodity prices, Houston-based Pogo Producing Co. also hascut back spending. In recent years the company’s annual explorationbudgets have been between $230 million and $250 million. Lastyear’s allocation was $230 million and was set to grow to between$260 and $270 million, said CEO Paul Van Wagenen. Instead, thecompany cut back considerably. This year Pogo is planning to spendabout $170 million.
Aquila, UtiliCorp at Share Purchase Impasse
UtiliCorp United wants to buy the rest of Aquila Gas PipelineCorp. it doesn’t already own, but the companies cannot agree on adeal. UtiliCorp currently owns about 82% of Aquila Gas Pipeline’soutstanding common shares.
Con Edison Sells Rest of NYC Generation Assets
Completing an asset sell-off started last month, ConsolidatedEdison Co. announced Baltimore, MD-based Orion Power Holdings asthe winning bidder in the auction for three New York citygenerating facilities. Orion’s winning bid was $550 million. MorganStanley Dean Witter advised Con Edison on the sale. Orion officialssaid the deal will close by mid-1999.