Slipped

Aquila shares slipped 5% on Friday to $2.69 after UBS Warburg analyst Ronald J. Barone lowered his rating on the company to “Reduce 1” from “Neutral 2.” Barone warned investors that the company has sacrificed its future earnings potential despite its efforts to avoid a liquidity crisis so far this year through asset sales, debt refinancings and exiting the energy trading business.

Aquila shares slipped 5% on Friday to $2.69 after UBS Warburg analyst Ronald J. Barone lowered his rating on the company to “Reduce 1” from “Neutral 2.” Barone warned investors that the company has sacrificed its future earnings potential despite its efforts to avoid a liquidity crisis so far this year through asset sales, debt refinancings and exiting the energy trading business.

A new study released by the American Gas Association indicates that gas reserve levels remained flat or dropped slightly last year compared to the 183.5 Tcf recorded in 2001. Reserves rose in six out of the last eight years.

A new study released by the American Gas Association indicates that gas reserve levels remained flat or dropped slightly last year compared to the 183.5 Tcf recorded in 2001. Reserves rose in six out of the last eight years.

In a preemptive move ahead of what could be another bearish storage release today, natural gas futures slipped lower yesterday as profit-takers rescinded advances achieved in Monday’s expiration session. The December contract began its tenure as prompt month in dramatic fashion, gapping lower at the open en route to a 15.6-cent decline and $3.183 close.

With little in the way of fresh fundamental news, natural gasfutures slipped lower in a holiday-abbreviated session last Fridayas traders took profits following a six-day, $2.30-cent pricerally.

ANR Pipeline slipped more than a few lumps of coal in GuardianPipeline’s stocking over the holidays’ in the form of a 250-pageprotest and motion for dismissal filed with FERC. The Coastalsubsidiary has a right to be angry at its new competitor. TheGuardian project will result in the decontracting of about 650MDth/d of ANR’s firm transportation capacity by Guardian shipperand affiliate Wisconsin Gas and the loss of $54 million in annualrevenue, according to ANR’s calculations.

After managing minor gains Tuesday and Wednesday, February gasfutures were unable to hold ground and slipped into the holidayweekend at $2.329, down 6.5 cents for the day and nearly back wherethey started the week. Both fundamental and technical indicatorsshowed continued downward momentum on Thursday.

Natural Gas futures slipped lower for the second day in a rowyesterday as light scale-down industrial buying was no match forcommercial and fund selling. The November contract traded to itslowest price in ten weeks at $2.52 before settling at $2.586, 3.9cents lower on the day.