Single

Shell Offshore Inc. again has asked federal authorities for permission to drill a single, shallow-water exploration well in the Beaufort Sea offshore Alaska.

Shell Offshore Inc. last week again asked federal authorities for permission to drill a single, shallow-water exploration well in the Beaufort Sea offshore Alaska.

The cash market was showing growing signs of weakness as the mostly single-digit declines that had slightly dominated weekend numbers Friday got larger in nearly all cases Monday. Forecasts of peak temperatures ranging from around 90 to either side of 100 stretched from the South Atlantic area through Oklahoma and Texas into much of the desert Southwest, but moderate to cool conditions continue to reign in the rest of the U.S. and Canada.

Low temperatures sinking into the teens, single digits and even below zero Thursday in areas from the Northeast through the Midcontinent/Midwest, Upper Plains, Canada and parts of the Rockies failed to faze either the cash or futures markets Wednesday. Softness remained the order of the day. Physical prices fell at all but three points as conditions were due to stay relatively moderate across the southern tier of states and in much of the western U.S. outside the Rockies.

Low temperatures sinking into the teens, single digits and even below zero Thursday in areas from the Northeast through the Midcontinent/Midwest, Upper Plains, Canada and parts of the Rockies failed to faze either the cash or futures markets Wednesday. Softness remained the order of the day. Physical prices fell at all but three points as conditions were due to stay relatively moderate across the southern tier of states and in much of the western U.S. outside the Rockies.

Portland, OR-based Northwest Natural Gas Co. and its regulated local distribution company (LDC) had their credit rating dropped from double-A to single-A (“A+”) Monday by Standard & Poor’s Ratings Services (S&P) because of added risk from nonutility ventures, such as the Gill Ranch underground gas storage facility in Northern California. Nevertheless, S&P described the company’s outlook as “stable.”

Portland, OR-based Northwest Natural Gas Co. and its regulated local distribution company (LDC) had their credit rating dropped from double-A to single-A (“A+”) Monday by Standard & Poor’s Ratings Services (S&P) because of added risk from nonutility ventures, such as the Gill Ranch underground gas storage facility in Northern California. Nevertheless, S&P described the company’s outlook as “stable.”

Australia’s Macquarie Group is combining its North American gas and power marketing businesses — Macquarie Cook Energy LLC and Macquarie Cook Power Inc. — under Macquarie Energy LLC, effective Feb. 1, giving the firm a single brand in North America. Last year saw the firm’s gas and power businesses grow through the acquisition of weaker players that had faltered.

Macquarie Group is combining its North American gas and power marketing businesses — Macquarie Cook Energy LLC and Macquarie Cook Power Inc. — under Macquarie Energy LLC, effective Feb. 1, giving the firm a single brand in North America. Last year saw the firm’s gas and power businesses grow through the acquisition of weaker players that had faltered.