Prices ranged from flat to about 30 cents higher at a solid majority of points Monday as the overall cash market shrugged off the 33.9-cent dive by November futures last Friday and a continuing lack of significant Atlantic tropical activity to focus on hot weather in the Midwest and south-central U.S. along with the return of industrial load from its typical weekend hiatus.
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Gains at Most Points Shrink; TS Chantal a Fizzle
Prices continued to advance at a solid majority of points Tuesday, but the gains were considerably less robust than Monday’s, suggesting that this week’s heat-inspired rally may be starting to lose steam. Mixed price movement remained in play as a few scattered points saw flat quotes or modest declines.
Survey Says: Expect Production Growth and Lower Returns in E&P Sector
A Banc of America Securities (BOA) survey of 23 independent exploration and production sector (E&P) companies, issued June 11, predicts solid organic production growth, with returns reverting to average historic levels, through 2011.
Survey Says: Expect Production Growth But Lower Returns for E&P
A Banc of America Securities (BOA) survey of 23 independent exploration and production (E&P) companies, issued June 11, predicts solid organic production growth, with returns reverting to average historic levels, through 2011.
Bill Barrett Corp. Sees Strong Production Growth But Lower Earnings
Despite “solid production growth” and the “highest daily production rates to date,” Bill Barrett Corp.’s net income for the first quarter was off by one-third from the first quarter in 2006, the company reported Tuesday. Company officials blamed the disparity on Rockies natural gas prices in the two periods.
Southwest Gas Earnings Up; More Weather-Neutral Rates Sought
Even with solid earnings improvement, Las Vegas, NV-based Southwest Gas Corp’s. lingering issue with regulators in the three states in which it operates is how to make its natural gas distribution earnings more stable and less influenced by swings in the weather in Nevada, Arizona and the eastern desert/mountain fringes of California. Net income for the first quarter ended March 31 was $49.8 million, or $l.19/share, compared to $44.2 million, or $1.12/share, for the same period in 2006.
Most Points See Small Gains; Rockies in Retreat
The cash market strength from Tuesday was slipping Wednesday, but a solid majority of points were still on the rise, although their gains were considerably smaller than the day before. Backsliding occurred in the Rockies as a winter storm was scheduled to have departed the area by Thursday.
AIG Acquires 50% Stake in Tenaska’s Natural Gas Marketing
Fortifying the activities of one of the top natural gas marketing firms in North America with solid financial backing, American International Group Inc. subsidiary AIG Financial Products Corp. (AIG-FP) said Thursday that it has signed an agreement to purchase a 50% partnership interest in Tenaska Energy’s natural gas marketing companies — Tenaska Marketing Ventures, Tenaska Marketing Canada and Tenaska Gas Storage — known collectively as TMV. Financial terms were not disclosed.
AIG Acquires 50% Stake in Tenaska’s Natural Gas Marketing
Fortifying the activities of one of the top natural gas marketing firms in North America with solid financial backing, American International Group Inc. subsidiary AIG Financial Products Corp. (AIG-FP) said late last week that it has signed an agreement to purchase a 50% partnership interest in Tenaska Energy’s natural gas marketing companies — Tenaska Marketing Ventures, Tenaska Marketing Canada and Tenaska Gas Storage — known collectively as TMV. Financial terms were not disclosed.
Most Points Fall; Despite Nymex Move, Cash ‘Business as Usual’ Tuesday
The January aftermarket got off to a weak start with declines at a solid majority of points as bearish weather is expected to extend through at least mid-January. Losses ranged from a couple of pennies to about 45 cents.