Buoyed by the one-two combination of cold weather forecasts and a pipeline rupture in Illinois, natural gas futures ascended rapidly Monday as traders let emotion rule the trading session. After peaking at a new contract high of $5.81, the March contract came within striking distance of the 23-month prompt month high of $5.85 set Jan. 23 by the February contract. March closed at $5.766 Monday, up 16.1 cents for the session.
Spawn
Articles from Spawn
LNG Grabs Larger Share of NE Power Market
The birth of a New England power plant will spawn more importsof LNG to the United States. Last week it was announced that SitheEnergies Inc. will feed its 1,600 MW Mystic Station in Everett, MA,with LNG imported by nearby Cabot LNG Corp.
Analyst: PennzEnergy Attractive for Takeover
PennzEnergy, the exploration and production company spawn of therestructuring of Pennzoil and Quaker State, could be an attractivetakeover target for a large independent producer or integratedenergy company, according to an analyst who follows the company.
New Western-KCPL Deal Would Spawn Electric Co.
A new step was added Thursday to the elaborate tango of WesternResources and Kansas City Power & Light as the companiescontinue their attempt at a union. Western and Kansas City Power& Light (KCPL) restructured their merger agreement, forming anew electric company. The new company-to be named WestarEnergy-will be headquartered in Kansas City, MO, and traded on theNew York Stock Exchange. The announcement met with early approvalfrom at least one analyst.