Northern Natural Gas does not have to continue providing Transwestern Pipeline customers a free ride on a portion of its system under an agreement that the two pipelines entered into a decade ago, the Federal Energy Regulatory Commission said last Wednesday in dismissing a show-cause proceeding against Northern Natural.
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FERC Says No More Free Rides on Northern Natural for Transwestern Customers
Northern Natural Gas does not have to continue providing Transwestern Pipeline customers a free ride on a portion of its system under an agreement that the two pipelines entered into a decade ago, the Federal Energy Regulatory Commission said in dismissing a show-cause proceeding against Northern Natural.
Questar Rides Increased Production, Prices to Strong 2Q Earnings
Led by an 18% increase in nonregulated gas, oil and natural gas liquids production, a 14% rise in realized natural gas prices, and an 18% increase in nonregulated gas gathering volumes, Questar Corp. posted 2Q2004 net income of $42.6 million, or $0.50 per diluted share, compared with $20.3 million, or $0.24 per diluted share, in the comparable 2003 period.
Questar Rides Increased Production, Prices to Strong 2Q Earnings
Led by an 18% increase in nonregulated gas, oil and natural gas liquids production, a 14% rise in realized natural gas prices, and an 18% increase in nonregulated gas gathering volumes, Questar Corp. posted 2Q2004 net income of $42.6 million, or $0.50 per diluted share, compared with $20.3 million, or $0.24 per diluted share, in the comparable 2003 period.
EPN Rides Gas Pipes, Plants to 70% Hike in 2Q Net Income
El Paso Energy Partners LP (EPN) reported a 70% jump in second quarter 2002 net income over the similar time period a year ago. The company posted net income of $28.7 million ($0.33 per unit), up from $16.9 million ($0.19 per unit), excluding one-time charges in the second quarter of 2001. Including $5.1 million in one-time charges related to the sale of EPN’s interest in the UTOS pipeline, net income for the 2001 quarter was $11.8 million ($0.04 per unit).
AGL Rides Diversification to Strong Quarter, Earnings
Despite warmer than normal weather during the quarter ended Dec. 31, 2001, AGL Resources Inc., led by results from its Sequent Energy Management subsidiary, reported earnings of $0.45 per basic and diluted share, compared with $0.41 per share for the same quarter of the prior year. AGL’s earnings also outdid Thomson Financial/First Call’s consensus of $0.43 per share.
AGL Rides Diversification to Strong Quarter, Earnings
Despite warmer than normal weather during the quarter ended Dec. 31, 2001, AGL Resources Inc. reported earnings of $0.45 per basic and diluted share, compared with $0.41 per share for the same quarter of the prior year. AGL’s earnings also outdid Thomson Financial/First Call’s consensus of $0.43 per share.
Cash Rides Strong Coattails of Energy Futures, New Storm
Weather-related demand remains somewhat meager, but the cashmarket found more than enough support Monday from superchargedenergy futures contracts and Atlantic storm activity to realizegains of about a dime or greater at nearly every point.
Cash Rides Coattails of Skyrocketing Screen
“Fundamentals are bearish, technicals are bullish, and today[Tuesday] the bulls beat the [socks off] of the bears.” Rather thandescribing a pro sports encounter between two Chicago teams, aHouston-based aggregator was summing up his view of the physicaland futures gas markets. Led by a soaring screen that dazzledobservers with its pyrotechnics (“this is crazy,” exclaimed onemarketer), cash prices were rising by a dime or more at nearly allpoints in the face of continuing widespread mild temperatures.
Nova Scotia Gets Tough on Offshore Royalties
There will be no free rides on Canada’s newest gas supplyfrontier, after Nova Scotia’s Liberal government established aroyalty regime that it admits puts it on the expensive side ofoffshore development areas by international standards.