Robust production from Arkansas’ Fayetteville Shale, where some think 20-30 Tcf or more gas resides, has spawned an interstate pipeline project backed by Kinder Morgan Energy Partners LP (KMP) and Energy Transfer Partners LP.
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Kinder Morgan, Energy Transfer Partnering on New Fayetteville Pipe
Robust production from Arkansas’ Fayetteville Shale, where some think as much as 20 Tcf of gas resides, has spawned an interstate pipeline project backed by Kinder Morgan Energy Partners LP (KMP) and Energy Transfer Partners LP.
Analyst: Shale Strength, Economic Weakness Softening Gas Prices
Bearish indicators for oil prices and robust natural gas production inform a lower 2008-2010 gas price outlook held by Stephen Smith Energy Associates. For this year the group is forecasting a $9.30/MMBtu average Henry Hub price, down from a previous estimate of $9.47/MMBtu.
Sempra Not Worried on LNG, Renewable Delays
With liquefied natural gas (LNG) contracts that are essentially take or pay, and a robust future renewable energy market in the West, Sempra Energy COO Neal Schmale pushed aside any concerns about delays now facing some of his company’s major energy supply projects, such as its LNG receiving terminal in North Baja California, Mexico, and Cameron, LA. Schmale expects the Costa Azul facility in Mexico that began commercial operations earlier in May to have at least 25% of its capacity used at any given time starting next year.
Hedges Trip Chesapeake in ‘Record Quarter’
Notwithstanding a hedging strategy that fell victim to robust commodity prices, Chesapeake Energy Corp. executives last week touted a “record quarter” on a per-share adjusted basis with earnings of $1.09/share, the most in the company’s 15-year history.
Chesapeake Marks ‘Record Quarter;’ CEO Notes Gas-Friendly Strife
Notwithstanding a hedging strategy that fell victim to robust commodity prices, Chesapeake Energy Corp. executives Friday touted a “record quarter” on a per-share adjusted basis with earnings of $1.09/share, the most in the company’s 15-year history.
Natural Gas Costs Drag on Wisconsin Energy’s Earnings
Fuel costs, particularly the level and volatility of wholesale natural gas prices, cut into robust first quarter results for Milwaukee-based Wisconsin Energy, following record electricity and natural gas retail utility consumption in the winter quarter, the utility reported Tuesday.
Williams Avoids Rockies Basis Prices, Delivers Robust Earnings
With only 8% of its Rockies-concentrated natural gas production basis priced in the last three months of 2007, Williams delivered a robust 53% jump in quarterly profit. Production, boosted by growth in the Barnett Shale and Piceance and Powder River basins, rose 21% in 2007 and averaged close to 1 Bcf/d.
Williams Avoids Rockies Basis Prices, Delivers Robust Earnings
With only 8% of its Rockies-concentrated natural gas production basis priced in the last three months of 2007, Williams delivered a robust 53% jump in quarterly profit Thursday. Production, boosted by growth in the Barnett Shale and Piceance and Powder River basins, rose 21% in 2007 and averaged close to 1 Bcf/d.
LNG, REX, GOM Spawn Different Price Projections
Strong domestic production and robust summertime liquefied natural gas (LNG) imports should lead to another year of record storage levels in 2008, according to Raymond James & Associates Inc. The firm has cut its 2008 full-year price forecast by 50 cents to $6.50/Mcf, the lowest since 2004. The analysts note that their forecast for 2008 is more than 15% lower than the Bloomberg estimate and more than 17% below the Nymex futures strip.