The sharp rise in natural gas and oil prices and production have sent Apache Corp.’s earnings skyrocketing, and the CEO said last week that the Houston-based independent would easily beat Wall Street estimates.
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Apache CEO Predicts Strong Earnings Surprise
The sharp rise in natural gas and oil prices have sent Apache Corp.’s earnings skyrocketing, and the CEO said yesterday the Houston-based independent would easily beat Wall Street estimates. Analysts have predicted earnings per share of $4.86, but CEO Raymond Plank said the company expects to earn $5.50 per share, about 20% higher than predicted.
NIPSCO: Indiana Customers’ Winter Bills Up to 60% Higher
Unlike San Diego consumers for whom skyrocketing utility billscame as a hugely unpleasant surprise, natural gas customers inIndiana have been warned in advance to expect to expect much higherbills this winter. The message to Indiana consumers last week wassimilar to those being broadcast all across the country bygovernment and utility officials anxious to moderate the intensepublic reaction manifest in California.
NIPSCO: Indiana Customers’ Winter Bills Up to 60% Higher
Unlike San Diego consumers for whom skyrocketing utility billscame as a hugely unpleasant surprise, natural gas customers inIndiana have been warned in advance to expect to expect much higherbills this winter. The message to Indiana consumers this week wassimilar to those being broadcast all across the country bygovernment and utility officials anxious to moderate the intensepublic reaction manifest in California.
CA Merchant Gas Storage Needs Greater Price Fluctuation
This week’s power and gas crunch in California, driving pricesskyrocketing for both, provided a glimpse of what merchant storageoperators need to make their operations more profitable, accordingto the state’s first nonutility underground storage project, WildGoose Storage. More price volatility and closer tracking betweenelectricity and natural gas prices makes merchant storage morevaluable.
CA Merchant Gas Storage Needs Greater Price Fluctuation
This week’s power and gas crunch in California, driving pricesskyrocketing for both, provided a glimpse of what merchant storageoperators need to make their operations more profitable, accordingto the state’s first nonutility underground storage project, WildGoose Storage. More price volatility and closer tracking betweenelectricity and natural gas prices makes merchant storage morevaluable.
Skyrocketing Screen Gives Huge Lift to Cash
It seems like a safe bet that early this week nobody could havepredicted big price increases anytime in the near future. Themarket’s bearish feeling at the time was palpable. But in somethingclose to a mirror image reversal of Tuesday’s big declines, tradersused an awesome display of might by futures to send cash priceshigher by a dime or more across the board Wednesday.
Rally in November Aftermarket Slows to a Crawl
The upward track of cash prices continued Wednesday, but at asnail’s pace compared to Tuesday’s skyrocketing pyrotechnics. Mostof the new increases were quite meager, ranging from a penny or soto about a nickel. The first significant winter weather that manyareas have seen so far this season was credited with keeping theNovember price rally going, albeit modestly.
Cash Prices Continue to Rally, Soaring More than 20 Cents
Cash Prices continued their upward rally Tuesday, skyrocketingin excess of 20 cents at most delivery points. Most sources agreeda vigorous buying spree fueled by market players coming into theweek short in anticipation of lower prices was largely to blame forthe continued spikes in most areas.
Cash Rides Coattails of Skyrocketing Screen
“Fundamentals are bearish, technicals are bullish, and today[Tuesday] the bulls beat the [socks off] of the bears.” Rather thandescribing a pro sports encounter between two Chicago teams, aHouston-based aggregator was summing up his view of the physicaland futures gas markets. Led by a soaring screen that dazzledobservers with its pyrotechnics (“this is crazy,” exclaimed onemarketer), cash prices were rising by a dime or more at nearly allpoints in the face of continuing widespread mild temperatures.