Sees

This third winter of high natural gas prices could strain the finances of local distribution companies, especially if regulators fail to allow the timely pass-through of gas costs, according to a Standard and Poor’s report.

This third winter of high natural gas prices could strain the finances of local distribution companies, especially if regulators fail to allow the timely pass-through of gas costs, according to a Standard and Poor’s report.

A comprehensive energy bill will be “among the most important matters to come before this Congress” in the upcoming months, Energy Secretary nominee Sam Bodman said during his Senate confirmation hearing Wednesday.

While revising its forecast for natural gas prices in 2005 upward, the R.W. Beck consulting firm still is keeping the target well under $6 at the Henry Hub despite average 2004 prices of $6.13/MMBtu, 30 cents above its forecast. The group moved its annual estimate for 2005 from $5.49 to $5.68/MMBtu.

Strong cash this year will give the U.S. upstream oil and natural gas sector more wiggle room to increase their capital budgets, to strengthen the bottom line and to give shareholders bigger dividends, Fitch Ratings analysts said in a new report.

Calling the construction of a natural gas pipeline “our greatest prospect for new jobs and prosperity,” Gov. Frank Murkowski told Alaskans Wednesday he expected to be able to soon deliver to the legislature one or more Stranded Gas contracts by applicants seeking to build pipelines to tap the state’s huge gas resources.

XTO Energy Inc., the fast-growing independent that began carving a niche in the Barnett Shale of North Texas three years ago, increased its natural gas-rich production forecast this year by 3% after announcing the purchase of a neighboring producer, privately held Antero Resources Corp., for $685 million.

Calling the construction of a natural gas pipeline “our greatest prospect for new jobs and prosperity,” Gov. Frank Murkowski told Alaskans Wednesday he expected to be able to soon to deliver to the legislature one or more Stranded Gas contracts by applicants seeking to build pipelines to tap the state’s huge gas resources.

Duke Energy has successfully moderated its risk by winding down its merchant generation and trading activities, Standard & Poor’s Ratings Services said Wednesday in affirming the company’s corporate credit and issue ratings (‘BBB/A-2’) and those of its direct and indirect subsidiaries Duke Capital LLC, Texas Eastern Transmission L.P., PanEnergy Corp., Westcoast Energy Inc., and Union Gas Ltd. At the same time, the ratings agency revised the company’s outlook to positive from stable.