Comparing the surprise Americans felt from the terrorist attacks of 9/11 to the surprise Americans will feel from soaring energy prices, Sen. Lamar Alexander (R-TN) said Tuesday that his stand alone natural gas legislation is aimed at bringing energy prices down and alleviating foreign energy reliance.
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Traders Uneasy of Futures Advance Despite Modestly Supportive Storage Report
After soaring to new 2005 highs following the release of fresh storage data (95 Bcf withdrawal) on Thursday, the natural gas futures market chopped lower late in the session to end the day on a negative note. At $7.238, the April contract finished the session more than 14 cents below its $7.38 top but still up 4.6 cents on the day. Looking ahead, market watchers wonder whether the recent gains in both natural gas and crude futures can be sustained in the short to medium term.
Shell’s Strong Earnings Overshadowed by Another Reserve Reduction
Royal Dutch Shell Group more than doubled its 4Q earnings on soaring oil and natural gas prices, but the positive news was completely overshadowed with the company’s announcement Thursday that it will reduce its proved reserves for the fifth time in just about one year’s time.
Pipe Volumes, Storage Demand Send Kinder Morgan, Partnership Earnings Soaring
Increased pipeline volumes and storage demand pushed Kinder Morgan Inc. (KMI) and its energy partnership, Kinder Morgan Energy Partners LP (KMP), to record full-year 2004 and 4Q2004 earnings, the company said last week.
NYC Peak of $45 Leads Soaring Northeast Prices; Other Markets Modestly Higher
It may have seemed unlikely that the Northeast would repeat the price fireworks of last Friday and Tuesday when Transco Zone 6-New York City topped out at $30 in leading multi-dollar gains at area citygates. Well, not only were Northeast numbers skyrocketing again Thursday, but they surpassed the earlier super-bullishness.
Pipe Volumes, Storage Demand Send Kinder Morgan, Partnership Earnings Soaring
Increased pipeline volumes and storage demand pushed Kinder Morgan Inc. (KMI) and its energy partnership, Kinder Morgan Energy Partners LP (KMP), to record full-year 2004 and 4Q2004 earnings on Tuesday.
E&P Income Higher, Few Report Strong Production
With few exceptions to the rule, U.S.-based producers reported soaring 3Q income over a year ago, however, U.S. natural gas production for most continued to decline, and capital spending on exploration and production dropped for some of the largest operators. Notable exceptions were EOG Resources and Pioneer Natural Resources, which both posted strong, positive natural gas gains in North America.
Even With Higher Profits, Some E&P Budgets Show Declines
With few exceptions to the rule, U.S.-based producers reported soaring 3Q income, however, U.S. natural gas production continued to fall, and capital spending for exploration and production dropped for some of the largest operators.
Even With Higher Profits, Some E&P Budgets Show Declines
With few exceptions to the rule, U.S.-based producers reported soaring 3Q income, however, U.S. natural gas production continued to fall, and capital spending for exploration and production dropped for some of the largest operators.
Cash Carried 5-20 Cents Higher by Soaring Futures Market
In concert with a fear-driven rally in the nearby crude oil pit, Nymex natural gas futures catapulted 37 cents higher Monday to $6.231, dragging most of the subservient natural gas cash market with it. Cash prices were up 5-20 cents on average across the board with some of the larger increases in the West where a spring heat wave was driving up demand.