The Canadian natural gas resource endowment is beginning to showing its depth again as new drilling attempts to catch up with demand. Production from the western provinces has increased by 680 MMcf/d this year, according to records kept by FirstEnergy Capital Corp., an investment banking house. In a “market update,” research manager Martin Molyneaux credited 70% of the production gain to a single discovery in northeastern British Columbia, the Ladyfern find by Murphy Oil Co., Apache Canada and Alberta Energy Co (see related story this issue).
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ICC Questions Vibrancy Of IL Electric Market
Although Illinois is showing positive signs of retail market growth, questions remain as to whether the wholesale market in Illinois is robust enough to support a competitive retail market, according to a recent report by the Illinois Commerce Commission (ICC) assessing retail and wholesale market competition in the state’s electric industry.
ICC Questions Vibrancy Of IL Electric Market
Although Illinois is showing positive signs of retail market growth, questions remain as to whether the wholesale market in Illinois is robust enough to support a competitive retail market, according to a recent report by the Illinois Commerce Commission (ICC) assessing retail and wholesale market competition in the state’s electric industry.
Canadian Hunter Shows 485% Rise in Q1 Net Income
With record levels of natural gas rigs in the ground, it’s about time the industry started showing results. Canadian Hunter Exploration Ltd. is doing just that, as the company announced last Tuesday an increase in gas production to 523 MMcf/d during the first quarter 2001, a jump of 36% over the similar time period a year ago, and a 7% rise from the fourth quarter 2000. As a result, the Calgary-based producer posted a 485% increase in net income to C$145.1 million, or C$2.38 per fully diluted share for the first quarter 2001.
Canadian Hunter Shows 485% Rise in Q1 Net Income
With record levels of natural gas rigs in the ground, it’s about time the industry started showing results. Canadian Hunter Exploration Ltd. is doing just that, as the company announced on Tuesday an increase in gas production to 523 MMcf/d during the first quarter 2001, a jump of 36% over the similar time period a year ago, and a 7% rise from the fourth quarter 2000. As a result, the Calgary-based producer posted a 485% increase in net income to C$145.1 million, or C$2.38 per fully diluted share for the first quarter 2001.
After Rebound, Traders Bearish on Storage, Bullish on Summer
Propelled by a strong showing in the overnight Access tradingsession, natural gas futures clawed their way higher on the openThursday as short-term traders alleviated oversold positions.
CA Regulators Tire of Emergency Requests
Showing some tiredness with the continuing round of “emergency”declarations swirling throughout California’s energy markets, stateregulators Thursday refused to consider an eleventh-hour request bySouthern California Edison Co. to modify a legislatively-setpricing formula for renewable energy and qualifying facilities (QF)from which it buys power in lieu of the current unprecedentednatural gas prices. The payment formula is based on price indicesfor gas at the California-Arizona border, which saw spot prices atthe $36 to $41/Mcf level earlier this week.
CA Regulators Tire of Emergency Requests
Showing some tiredness with the continuing round of “emergency”declarations swirling throughout California’s energy markets, stateregulators Thursday refused to consider an eleventh-hour request bySouthern California Edison Co. to modify a legislatively-setpricing formula for renewable energy and qualifying facilities (QF)from which it buys power in lieu of the current unprecedentednatural gas prices. The payment formula is based on price indicesfor gas at the California-Arizona border, which saw spot prices atthe $36 to $41/Mcf level earlier this week.
CA Governor Files State Power Plan with FERC
Showing a carrot, but keeping a “stick” in reserve, CaliforniaGov. Gray Davis Friday outlined for federal regulators steps hewill pursue to fix the state’s ailing wholesale electricity market,stopping short of proposing a state takeover, but hinting he willgo further if federal measures fall short.
CA Governor Files State Power Plan with FERC
Showing a carrot, but keeping a “stick” in reserve, CaliforniaGov. Gray Davis Friday outlined for federal regulators steps hewill pursue to fix the state’s ailing wholesale electricity market,stopping short of proposing a state takeover but hinting he will gofurther if federal measures fall short.