Long-term natural gas gathering agreements to anchor the Appalachian Gathering System (AGS), which is to traverse the Marcellus Shale, have been signed with subsidiaries of Chesapeake Energy Corp. and Statoil ASA, M3 Midstream LLC (Momentum) said Thursday.
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Articles from Smith
Year-to-Year Shale Basin Rig Counts Show Winners and Losers
What a difference a year makes in shale gas drilling. NGI’s Shale Daily Unconventional Rig Count dramatically demonstrates the ascendance of oil and oily gas shale plays as the Bakken Shale/Sanish/Three Forks claimed the top spot on the chart for the greatest number of active rigs with 170, up from 102 and third place a year ago.
Southern Natural Plans 14 Bcf Salt Dome Storage Field in MS
El Paso subsidiary Southern Natural Gas Co. started an open season Tuesday to test market interest in a new 14 Bcf salt dome gas storage project in Smith County, MS. The New Home gas storage field, which would consist of two storage caverns, would be a high deliverability, multi-cycle storage project designed to serve the Southeast via the Southern Natural mainline.
El Paso, AEP Take Another Analyst (SSB) Hit
Continuing to take the low road on certain energy companies, Salomon Smith Barney (SSB) Friday knocked the props out from under American Electric Power (AEP) and El Paso Corp., removing the “outperform” label and dropping them back “in-line” with the rest of the gas and electric utility sector.
SSB Meteorologist: El Nino Should Hinder Hurricane Development in 2002
Salomon Smith Barney meteorologist Jon Davis released his 2002 hurricane forecast last week calling for normal to below normal hurricane activity this year based mainly on the growing likelihood of an El Nino weather pattern in the equatorial Pacific. It is well known that in El Nino years Atlantic hurricane activity is hindered by a strong southern jet stream, Davis said. Pacific sea surface temperatures currently are warmer than normal but not quite enough yet to call an El Nino.
SSB Follows Merrill Lynch Lead, Will Oversee Analysts’ Picks
Salomon Smith Barney (SSB) said Wednesday it would change the structure of its stock research department to match the changes agreed to this week by Merrill Lynch & Co. in a $100 million settlement with the State of New York (see Daily GPI, May 23). In a memorandum to the SSB staff, CEO Michael A. Carpenter said a research review committee would be formed to oversee analysts’ recommendations, and said SSB would separate “the evaluation and compensation of equity research analysts from investment banking.”
Salomon Smith Barney Meteorologist Forecasts Normal or Cool Summer
Last winter appears to have shaken the meteorological community, most of which — Davis included — predicted a colder than normal winter. It turned out to be the fifth warmest on record. Davis said he’s still trying to determine the causes of the very unusual winter temperatures.
WSI Sees Mild Winter in Northeast, Cold in West
In contrast to forecasts by the National Oceanic and Atmospheric Administration (NOAA) and Salomon Smith Barney of a colder-than-normal winter in key eastern consuming regions, WSI Corp.’s end-of-October update to its seasonal forecast for November, December and January predicts warmer-than-normal temperatures in the Northeast, Mid-Atlantic and in the central and southern Plains. WSI, however, said it expects cooler-than-normal temperatures in the Gulf Coast states, Northern Plains, Great Lakes states, and all areas west of the Rocky Mountains.
WSI Sees Mild Winter in Northeast, Cold in West
In contrast to forecasts by the National Oceanic and Atmospheric Administration (NOAA) and Salomon Smith Barney of a colder-than-normal winter in key energy consuming regions, WSI Corp.’s end-of-October update to its seasonal forecast for November, December and January predicts warmer-than-normal temperatures in the Northeast, Mid-Atlantic and in the central and southern Plains. WSI, however, said it expects cooler-than-normal temperatures in the Gulf Coast states, Northern Plains, Great Lakes states, and all areas west of the Rocky Mountains.
Duke, Analysts Debate Electricity Shortage or Surplus
Due to the rapid growth of new generating capacity across the nation, Salomon Smith Barney analyst Raymond C. Niles said the country is currently “crossing the mountaintop” when it comes to electricity prices peaking. He warned that the third quarter 2001 will become the first full quarter of negative commodity comparisons.