The rate of decline in U.S. natural gas production appears to be slowing and may remain flat over the next one-to-two years, according to a review of state-by-state and offshore statistics.
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Rate of U.S. Gas Production Decline Appears to Slow
The rate of decline in U.S. natural gas production appears to be slowing and may remain flat over the next one-to-two years, according to a review of state-by-state and offshore statistics.
Enbridge Exec Claims NB Gas Distribution Rules Slowing Customer Growth
New Brunswick natural gas distributor Enbridge Gas Distribution Inc. has had a difficult time convincing potential customers to switch to natural gas, and the provincial government should consider changes to its provincial rules to ensure its gas program will succeed, a company executive said this week.
Rockies Retreat Only Exception to Further Price Hikes
After slowing down considerably on Tuesday, this week’s bull market resumed its headlong charge with the exception of a Rockies retreat that a couple of NGI sources had anticipated. Non-Rockies quotes mostly saw double-digit increases between about a dime and a quarter, with the bigger gains tending to cluster in Appalachia and the Northeast.
El Paso Energy Partners Posts Strongest Results Since 1993
Coming off of a year highlighted by milder than normal weather, El Paso Energy Partners LP. reported a 51% increase in 2001 pro forma cash flow, as measured by adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), of $161.4 million compared with $107.0 million in 2000. Pro forma net income, which also excludes non-recurring items, was $61.8 million ($0.58 per unit) for 2001 — more than triple the $20.5 million (loss of $0.03 per unit) in 2000. The company’s net income was $55.1 million ($0.38 per unit) for 2001 and includes non-recurring charges of $6.7 million ($0.19 per unit) primarily related to asset sales in 2001.
Gas, Power Marketing, Generation Units’ Earnings Up 50%
Third-quarter financial and operating results for natural gas and power companies indicate a continued — but slowing — surge in income increases from non-regulated activities, compared to earlier in the year, according to a survey by Energy Performance Review (EPR). While 3Q earnings for natural gas and power marketing and power generation were up about 50% from the same period last year, nine-month earnings, led by first quarter results, were up closer to 75%. Natural gas distribution earnings showed a greater seasonal loss this third quarter, compared to last, while electricity distribution gained slightly over last year’s 3Q.
Gas, Power Marketing, Generation Units’ Earnings Up 50%
Third-quarter financial and operating results for 118 natural gas and power companies indicate a continued, but slowing surge in income increases compared to earlier in the year from non-regulated activities, according to a survey by Energy Performance Review (EPR). While 3Q earnings were up about 50% from the same period last year, nine-month earnings, led by first quarter results, were up closer to 75%.
AEP Earnings Up 13%, Wholesale Gas Sales Soar 265%
Despite a slowing economy that reduced both wholesale energy margins and energy use by industrial customers, American Electric Power reported a 13% increase in third-quarter earnings to $1.43 per share and a 50% jump in revenues to $18 billion. Its wholesale power sales volumes soared 66%, and its gas sales rocketed 265% to 14.5 Bcf/d.
AEP Earnings Up 13%, Wholesale Gas Sales Soar 265%
Despite a slowing economy that reduced both wholesale energy margins and energy use by industrial customers, American Electric Power reported a 13% increase in third-quarter earnings to $1.43 per share and a 50% jump in revenues to $18 billion. Its wholesale power sales volumes soared 66%, and its gas sales rocketed 265% to 14.5 Bcf/d.
BP Canada Ethane Fire Slowing Gas Distribution
The Alberta Energy and Utilities Board (EUB) has assumed the lead role to direct operations following the uncontrolled release Sunday of storage cavern ethane and the resulting fire from two wellheads at BP Canada’s natural gas liquids plant near Fort Saskatchewan, AB. While there were no reported injuries, EUB said the incident is “impacting other petroleum operations within the province involving both upstream natural gas liquids production and downstream natural gas liquids product use.”