Slump

While bracing for a drilling slump to continue through 2008, Canadian natural gas producers continue to work on grand designs for new supply development, including the grand-daddy of Arctic visions.

While bracing for a drilling slump to continue through 2008, Canadian natural gas producers continue to work on grand designs for new supply development, including the grand-daddy of Arctic visions.

Field contractors are braced for a long and deep slump in Canadian natural gas drilling, blaming a perfect storm of glutted markets, unfavorable currency exchange rates and Alberta’s overhaul of government royalties.

Field contractors are braced for a long and deep slump in Canadian natural gas drilling, blaming a perfect storm of glutted markets, unfavorable currency exchange rates and Alberta’s overhaul of government royalties.

U.S. imports of liquefied natural gas (LNG) in the first quarter rose 65% over the year-earlier period, putting the country on track to break a two-year slump in imported LNG volumes, according to the Energy Information Administration (EIA).

U.S. imports of liquefied natural gas (LNG) in the first quarter rose 65% over the year-earlier period, putting the country on track to break a two-year slump in imported LNG volumes, according to the Energy Information Administration (EIA).

Only a little more than a quarter through 2007, importers of liquefied natural gas (LNG) are poised to break the industry’s two-year slump of declining volumes arriving at U.S. terminals as LNG imports and regasified LNG sendout volumes are spiking.

Only a little more than a quarter through 2007, importers of liquefied natural gas (LNG) are poised to break the industry’s two-year slump of declining volumes arriving at U.S. terminals as LNG imports and regasified LNG sendout volumes are spiking.

A decision by Dynegy Inc. to pull out of a tolling agreement last month will result in lower-than-expected earnings this year and could lead to a $391 million net loss in 2005, the company said Wednesday. Earnings in 2004 are expected to range between $2 million and $22 million (1-6 cents/share), well below an earlier forecast of $75-95 million (20-25 cents).