Slashing

Talisman Energy Inc. is slashing dry gas spending again in response to chronically low prices, but the company continues to ramp up production from the liquids-rich shale plays in its portfolio.

Energy analysts in recent days piled on their bearish outlooks for domestic natural gas prices through 2011, with two teams slashing forecasts to $4.00/Mcf for the final three months of this year.

Despite posting record quarterly earnings during 3Q2008, Plano, TX-based Denbury Resources Inc. is following a number of its oil and gas producing peers in slashing its 2009 capital budget due to the bleak U.S. economic outlook. The company also noted that the troubling financial climate has made the planned unloading of its Barnett Shale assets more difficult than first expected.

Despite posting record quarterly earnings during 3Q2008, Plano, TX-based Denbury Resources Inc. is following a number of its oil and gas producing peers in slashing its 2009 capital budget due to the bleak U.S. economic outlook. The company also noted that the troubling financial climate has made the planned unloading of its Barnett Shale assets more difficult than first expected.

Joining the ranks of forecasters who are slashing their 2006 Atlantic hurricane activity predictions, Andover, MA-based WSI Corp. downgraded its outlook Wednesday for the second time in two months. WSI said it now expects the tropical season to have 13 named storms, six hurricanes and three intense hurricanes (Category 3 or greater).

While Tropical Storm Ernesto continued to soak the Mid-Atlantic Friday, one prominent hurricane forecasting team was slashing its expectations for the 2006 season for a second time in a month. In the downgrade, Colorado State University forecasters William Gray and Philip Klotzbach said they now expect there to be fewer hurricanes in the Atlantic than during a normal season.

Slashing the heavy debt that helped finance its major Montana utility additions and at the same time helped drive it into Chapter 11 protection, South Dakota-based NorthWestern Corp. emerged from bankruptcy last Monday, leaving remaining shareholders with worthless stock that was wiped out when a new board took over and 35.5 million shares of new stock were issued, most going to creditors.

Slashing the heavy debt that helped finance its major Montana utility additions and at the same time helped drive it into Chapter 11 protection, South Dakota-based NorthWestern Corp. emerged from bankruptcy late Monday, leaving remaining shareholders with worthless stock that was wiped out when a new board took over and 35.5 million shares of new stock were issued, most going to creditors.

Slashing the heavy debt that helped finance its major Montana utility additions and at the same time helped drive it into Chapter 11 protection, South Dakota-based NorthWestern Corp. emerged from bankruptcy late Monday, leaving remaining shareholders with worthless stock that was wiped out when a new board took over and 35.5 million shares of new stock were issued, most going to creditors.