Stable

Riding a temporary price break in the Rockies, Oregon expects natural gas prices to remain stable for the year, according to reports from the major gas industry players in the Northwest. They gave projections to the Oregon Public Utility Commission (PUC) at a workshop last week in Salem, OR.

Riding a temporary price break in the Rockies, Oregon expects natural gas prices to remain stable for the year, according to reports Tuesday from the major gas industry players in the Northwest. They gave projections to the Oregon Pubic Utility Commission (PUC) at an afternoon workshop in Salem, OR.

Investor-owned utilities in the United States were relatively stable during the first quarter of 2007, according to a report released Monday by Standard & Poor’s Ratings Services. The S&P quarterly assessment found rating activity was “mixed in a quiet first quarter.” Overall, during the past 12 months, the percentage of top S&P “A”-rated utilities grew and the number of speculative-grade-rated (BB+ and below) utilities decreased.

Trading was mostly stable in natural gas futures on Tuesday despite the beating taken by crude oil futures in a nearby trading ring. Even with much of the country enduring or bracing for a mid-January cold snap, which already includes ice storms in the Midwest and Northeast, February natural gas put in a low of $6.460 and a high of $6.730 before settling Tuesday at $6.638, just 3.7 cents higher than Friday’s close.

Citing the prospect of continuing high and volatile commodity prices, Fitch Ratings’ 2007 outlook for the U.S. power and gas industries is generally stable, particularly in the competitive part of the industry. Not so fortunate are the regulated gas and electric sectors, which face “a challenging environment.” And no company should become complacent. Risks, demand and interest rates could change over the longer term.

Adding to its stable of production plays, Denver-based PRB Energy Inc. said it is acquiring 13 natural gas wells and 330,000 net acres in the Denver-Julesburg Basin of northeastern Colorado and southwestern Nebraska. Terms of the deal and the seller’s identity were not disclosed.

Adding to its stable of production plays, Denver-based PRB Energy Inc. said Tuesday that it is acquiring 13 natural gas wells and approximately 330,000 net acres in the Denver-Julesburg Basin of northeast Colorado and southwest Nebraska. Terms of the deal and the seller’s identity were not disclosed.

Expanding its stable of alternative fuel choices, Dallas-based Earth Biofuels Inc. said last week that it has acquired Apollo LNG Inc. from Apollo Resources International Inc. in exchange for Earth Biofuels common stock. The value of the stock involved in the transaction is not being disclosed, a Earth Biofuels spokesman said.

Expanding its stable of alternative fuel choices, Dallas-based Earth Biofuels Inc. said Tuesday that it has acquired Apollo LNG Inc. from Apollo Resources International Inc. in exchange for Earth Biofuels common stock. The value of the stock involved in the transaction was not being disclosed, a Earth Biofuels spokesman said.