Stood

Much of the cash market emulated the March futures contract Thursday — barely budging from where it stood the day before. Outside of some sizeable drops at Northeast citygates, not many points ventured any farther than about a nickel up or down from flat. Weather turning milder again in several areas after going frigid at midweek was cited for the failure of most prices to extend Wednesday’s gains.

Big declines in Northeast and San Juan/Rockies numbers stood out Friday amid a general market that was flat to slightly lower. Fairly benign weather helped explain the softness in parts of the West, while the Northeast was consolidating from recently sky-high price levels.

While for a third consecutive year U.S. gas reserves stood flatat around 107 Tcf, Canadian reserves grew 8% to 32.2 Tcf in 1998,according to Arthur Andersen. That’s just one finding of theconsultant’s 1999 edition of Global E&P Trends, released lastweek.

While for a third consecutive year U.S. gas reserves stood flatat around 107 Tcf, Canadian reserves grew 8% to 32.2 Tcf in 1998,according to Arthur Andersen. That’s just one finding of theconsultant’s 1999 edition of Global E&P Trends, releasedyesterday.

Walter Higgins, CEO of AGL Resources Inc., stood and faced themusic recently at the annual shareholders meeting in Atlanta asstock owners voiced their opinions concerning AGL Resources’subsidiary Atlanta Gas Light’s (AGL) over-billing controversy. Thecompany’s earnings did nothing to ease shareholders’ pain. AGLResources’ revenues for this quarter were down $75.2 million from1997 to $323.9 million. Operating margins fell from $145.1 millionin the year-ago quarter to $136.9 million for the quarter endedDec. 31. Weather and poor results stemming from the company’spartnership with Sonat caused the poor performance.

Walter Higgins, CEO of AGL Resources Inc., stood and faced themusic recently at the annual shareholders meeting in Atlanta asstock owners voiced their opinions concerning AGL Resources’subsidiary Atlanta Gas Light’s (AGL) over-billing controversy. TheGeorgia Public Service Commission and AGL settled the issue earlierthis month, with AGL agreeing to alter its billing methods andrefund $14.5 million to customers. The incident enraged manypeople, including one shareholder who demanded Higgins’resignation.