Settling

West Virginia Panel Keeps $10K Permit Fee Intact

A committee of West Virginia lawmakers made little progress this week toward settling the remaining obstacles to a Marcellus Shale regulatory reform bill, instead using their time to debate — but ultimately leave unchanged — a steep increase in permitting fees.

October 17, 2011

Outside Northeast Retreat, Most Quotes a Bit Higher

Summer doldrums appear to be settling into the cash market. Hot temperatures continued to pervade the national forecast Wednesday, keeping most points afloat with small gains. A short-lived heat spurt in the Northeast was already in retreat, resulting in some double-digit losses at regional citygates, and some Rockies/California points were slightly softer as well.

July 14, 2011

Bank of Montreal Trader Fined $500,000 in CFTC Action

The Commodity Futures Trading Commission (CFTC) said Friday it has entered into a consent order settling charges brought against David P. Lee, a former trader for the Bank of Montreal (BMO), for mis-marking and mis-valuing of BMO’s natural gas options book and deception of the bank (see Daily GPI, Nov. 19, 2008).

November 9, 2009

Bank of Montreal Trader Fined $500,000 in CFTC Action

The Commodity Futures Trading Commission (CFTC) said Friday it has entered into a consent order settling charges brought against David P. Lee, a former trader for the Bank of Montreal (BMO), for mis-marking and mis-valuing of BMO’s natural gas options book and deception of the bank (see NGI, Nov. 24, 2008).

November 9, 2009

Pioneer Natural Resources Latest to Be Bit by SemGroup Downfall

A week after news of SemGroup LP’s implosion due to $3.2 billion in crude oil trading losses, the dust is still settling, revealing more creditors with direct exposure to the troubled company (see NGI, July 28). Last Monday Pioneer Natural Resources Co. announced that it has approximately $30 million of unpaid pre-bankruptcy claims for condensate sold to certain subsidiaries of SemGroup.

August 4, 2008

Pioneer Natural Resources Latest to Be Bit by SemGroup Downfall

A week after news of SemGroup LP’s implosion due to $3.2 billion in crude oil trading losses, the dust is still settling, revealing more creditors with direct exposure to the troubled company (see Daily GPI, July 24). On Monday Pioneer Natural Resources Co. announced that it has approximately $30 million of unpaid pre-bankruptcy claims for condensate sold to certain subsidiaries of SemGroup.

July 29, 2008

CFTC Settles Case Against Former Duke Gas Trader

The U.S. Commodity Futures Trading Commission (CFTC) has obtained a $55,000 civil monetary penalty and a permanent injunction in a consent order settling charges against Michael Whitney, a former Houston-based natural gas trader and marketing representative at Duke Energy Trading and Marketing LLC.

March 7, 2008

Bears Have Early Thanksgiving Feast as Futures Settle Sub-$7.50

December natural gas futures on Tuesday continued exploring lower price levels, recording a low of $7.460 before settling at $7.477, down 31 cents from Monday.

November 21, 2007

False Reporting Case Against Five Traders Settled With $1M Fine

A federal court in Houston has entered a consent order settling charges by the U.S. Commodity Futures Trading Commission (CFTC) that five current and former energy traders during 2001 and 2002 reported or caused the reporting of false natural gas trade information to compilers of monthly price indexes in an attempt to manipulate prices, the CFTC said Friday.

November 12, 2007

Futures Trickle Lower, But Experts See Near-Term Rally

November natural gas futures reached a peak of $6.985 on Friday before trickling to a low of $6.860 and settling at $6.870, down 4.9 cents from Thursday’s close. The week’s finish was 12 cents lower than the contract’s previous week’s close of $6.990.

October 1, 2007
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