Reveals

Sparked by a 121% increase in revenues from $6.1 billion for the first quarter 2000 to $13.5 billion for the first quarter 2001, American Electric Power (AEP) announced ongoing earnings of $0.68 per share, a whopping 89% increase over the first quarter 2000’s level of $0.36 per share. The company attributed the earnings run to the strong performance of its wholesale business and the impact of the return to service of its Cook Nuclear Plant.

With the cry for increased natural gas production being heardacross the North America, it’s no wonder that exploration andproduction companies such as Calgary-based Talisman Energy areupping their capital expenditure programs to try and meet demand.The company announced last week it will boost its exploration anddevelopment budget by 44% over year 2000 levels to C$1.7 billion.

With the cry for increased natural gas production being heardacross the North America, it’s no wonder that exploration andproduction companies such as Calgary-based Talisman Energy areupping their capital expenditure programs to try and meet demand.The company announced yesterday that it will boost its explorationand development ÿbudget by 44% over year 2000 levels to C$1.7billion.

The amount of new gas-fired power generation planned for the next two years reveals the rather alarming possibility that an additional 10 Bcf/d of gas demand could be added to the gas market before the end of 2002 from power demand alone, according to a report by Raymond James & Associates.

The amount of new gas-fired power generation planned for thenext two years reveals the rather alarming possibility that anadditional 10 Bcf/d of gas demand could be added to the gas marketbefore the end of 2002 from power demand alone, according to areport by Raymond James & Associates.

The explosion and fire on El Paso Natural Gas’ system insoutheast New Mexico in August, which killed 12 people, underscoresthe need for a newer gas pipeline infrastructure in the UnitedStates, according to a Department of Energy (DOE) report releasedlast week.

The explosion and fire on El Paso Natural Gas’ system insoutheast New Mexico in August, which killed 12 people, underscoresthe need for a newer gas pipeline infrastructure in the UnitedStates, according to a Department of Energy (DOE) report releasedthis week.

A close look at the status of the nation’s gas resources lastyear reveals a lethargic industry barely able to build reserves.However, last year was an improvement over the year prior. Dry gasreserve additions reversed the 2% decline in 1998 and grew lastyear by 2.1% to 167,406 Bcf in the United States, according to anAdvance Summary: U.S. Crude Oil, Natural Gas and Natural GasLiquids Reserves 1999 Annual Report by the Energy InformationAdministration. Reserve additions replaced 118% of gas production.It was the fifth time in the past six years that reserves havegrown.

A close look at the status of the nation’s gas resources lastyear reveals a lethargic industry barely able to build reserves.However, last year was an improvement over the year prior. Dry gasreserve additions reversed the 2% decline in 1998 and grew lastyear by 2.1% to 167,406 Bcf in the United States, according to anAdvance Summary: U.S. Crude Oil, Natural Gas and Natural GasLiquids Reserves 1999 Annual Report by the Energy InformationAdministration. Reserve additions replaced 118% of gas production.It was the fifth time in the past six years that reserves havegrown.