storage

Saying its Washington Ranch storage facility was experiencing maximum withdrawals, El Paso declared an Unauthorized Overpull Penalty situation Monday.

Questar reported experiencing a mechanical failure of unit #5 at its Clay Basin storage facility Sunday evening, and as a result, injection capacity was reduced by 20,000 Dth/d to 350,000 Dth/d for Tuesday’s gas day. The restriction will continue until repairs are completed.

Questar has started inventory and deliverability testing at its Clay Basin Storage facility. From April 1 through April 5 the work restricted customers to withdrawals only. A withdrawal test of up to 370,000 dekatherms was set for Tuesday. From Wednesday until April 22, the facility will be shut in for inventory verification, preventing Questar from using Clay Basin to balance receipt and delivery imbalances. Thus it stressed to customers the importance of preventing physical imbalances during that period.

Caught in a mix of short-covering and a delayed reaction to supportive storage news released Thursday, the natural gas futures market turned modestly higher Friday to break the string of losing sessions.

Semco Energy announced the resignation of its chairman, president and CEO, Marcus Jackson, Wednesday, after its board determined that new leadership is needed because the company has not reached certain financial goals. Semco shares rose 2.4% to $5.03 on the news.

Semco Energy announced the resignation of its chairman, president and CEO, Marcus Jackson, Wednesday, after its board determined that new leadership is needed because the company has not reached certain financial goals. Semco shares rose 2.4% to $5.03 on the news.

Citing maximum withdrawals at its Washington Ranch storage facility, El Paso declared an Unauthorized Overpull Penalty situation Tuesday. The pipeline also said the Flagstaff (AZ) Station’s #1 unit requires extensive repairs that will make the station unavailable through April 9. The work reduced capacity of the North Mainline by about 90 MMcf/d effective with Tuesday’s Cycle 2 nominations.

Expectations for adequate natural gas storage supplies and the approaching seasonal drop in crude demand will likely lead to a decline in both commodities and the exploration and production (E&P) stocks in the near term, but the outlook long term remains positive, according to analysts with RBC Capital Markets.

Saying its Washington Ranch storage facility was experiencing maximum withdrawals, El Paso declared an Unauthorized Overpull Penalty situation Tuesday. The pipeline said it would limit scheduled volumes at underperforming interconnects to insure system integrity.