They may have to start handing out seat belts at Nymex justprior to the release of American Gas Association’s weekly gasstorage report each Wednesday. In a span of only a few minutesfollowing the 2 p.m. report of a 65 Bcf injection last week intostorage, September futures spiked to $4.565, its highest levelsince June 28, but then immediately plummeted back into the low$4.40s.
Seat
Articles from Seat
Short-Covering Puts Bulls Back in Driver Seat
After tumbling 5% on the release of a bearish storage reportWednesday, the natural gas market clawed its way back up yesterdayas locals were forced to cover shorts after watching stubbornsupport in the $3.90s hold yet again. With that buying pressure,the August contract finished 13.5 cents higher at $4.166, recoupingmore than half of Wednesday’s losses.
July 14, 2000
NiSource Raises Bid, Offers Richard Board Seat
NiSource finally sweetened its unsolicited offer for Columbia Energy Group with a $74/share ($6.1 billion) bid last week — up from the prior offer of $68/share. It also laid down an olive branch by inviting five of Columbia’s top managers, including CEO Oliver G. “Rick” Richard, to take seats on an expanded NiSource board. Richard was offered a vice chairmanship.
October 25, 1999
NiSource Ups Bid to $74/Share, Offers Richard Board Seat
NiSource finally sweetened its offer for Columbia Energy Groupyesterday to $74/share ($6.1 billion) from $68/share and laid downan olive branch by inviting five of Columbia’s top managers,including CEO Oliver G. “Rick” Richard, to take seats on anexpanded NiSource board. Richard was offered a vice chairmanship.
October 19, 1999
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