Ronald

California Superior Court Judge Ronald Prager in San Diego held a status conference last week in a multi-billion-dollar class action lawsuit against Sempra Energy regarding its role in wholesale natural gas price spikes in 1996. Sempra CEO Stephen Baum told analysts on Tuesday that the judge has laid out an ambitious timeline for the upcoming trial as settlement talks continue among the parties.

UBS Warburg natural gas analyst Ronald J. Barone said he has lowered his gas price forecast for this year to $5.50/MMBtu at the Henry Hub from about $5.85, but will maintain his projections for next year and 2005 at $4.65 and $4.15, respectively, mainly because wellhead decline rates continue to accelerate while demand from the residential, commercial and power generation sectors continue to increase.

UBS Warburg analyst Ronald J. Barone on Monday raised his Henry Hub gas price forecast for the year to $5.85 from $5.15/MMBtu because of continued low storage levels, deliverability issues and expected strong demand from power generators this summer. But in a separate report analyst Stephen Smith of Stephen Smith Energy Associates said the market appears to be missing the potential for some large storage injections this summer due to demand destruction. Smith sees a need for a downward correction in prices.

Aquila shares slipped 5% on Friday to $2.69 after UBS Warburg analyst Ronald J. Barone lowered his rating on the company to “Reduce 1” from “Neutral 2.” Barone warned investors that the company has sacrificed its future earnings potential despite its efforts to avoid a liquidity crisis so far this year through asset sales, debt refinancings and exiting the energy trading business.

Aquila shares slipped 5% on Friday to $2.69 after UBS Warburg analyst Ronald J. Barone lowered his rating on the company to “Reduce 1” from “Neutral 2.” Barone warned investors that the company has sacrificed its future earnings potential despite its efforts to avoid a liquidity crisis so far this year through asset sales, debt refinancings and exiting the energy trading business.

Ronald Kuehn, recently named chairman and CEO of El Paso Corp., has resigned from Transocean Inc., effective Monday. Kuehn apparently told Transocean management that his resignation would allow him to devote additional time to his El Paso duties. He said the move also would avoid the appearance of conflicts of interest that could arise with the recent appointment of J. Michael Talbert, Transocean’s chairman. Kuehn had served on the offshore drilling contractor’s board and its predecessor companies since 1975.

UBS Warburg analyst Ronald J. Barone added 25-65 cents/MMBtu to his natural gas price projections for 2003, 2004 and 2005 on Tuesday, citing 10 bullish factors, including steep declines in wellhead deliverability, higher crude oil prices, an improving economy and expectations for normal temperatures.

UBS Warburg analyst Ronald J. Barone added 25-65 cents/MMBtu to his natural gas price projections for 2003, 2004 and 2005 on Tuesday, citing 10 bullish factors, including steep declines in wellhead deliverability, higher crude oil prices, an improving economy and expectations for normal temperatures.

Due to a confluence of events, including ample natural gas storage supplies and the nation entering a recession, Ronald Barone of UBS Warburg said it should “come as no surprise” that the company has decided to lower its 2001 and 2002 natural gas spot price forecast. The analyst said he has lowered the 2001 projection of 12-region composite spot price to $3.80 from $4.10, compared to the current Street consensus of $4.00. UBS Warburg’s Henry Hub equivalent is $3.95.