Strained

Liquidity-strained Calpine Corp. announced last week that it is “evaluating” the sale of its 230 Bcfe Alberta proved natural gas reserves and a 25% interest in a related Calpine Natural Gas Trust amounting to about 80 Bcfe of proved reserves.

Liquidity-strained Calpine Corp. announced Thursday it is “evaluating” the sale of its 230 Bcfe Alberta proved natural gas reserves and a 25% interest in a related Calpine Natural Gas Trust amounting to about 80 Bcfe of proved reserves.

CIG declared a Strained Operating Condition (SOC) for its Uintah and Parachute Laterals, effective last Saturday until further notice. The pipeline said that due to a high rate of unconfirmed transactions at Uintah delivery points, it “has recently experienced a critical oversupply situation on that portion of its system, resulting in higher than desired pressures and operating problems for the attached production areas.” The capacity limitations on Uintah and Parachute in turn restricted CIG’s ability to handle imbalances caused by unconfirmed nominations in that area. The SOC requires that all transactions in the affected segments be in balance between receipts and deliveries. CIG said it does not anticipate a need to issue an OFO as long as market and supply balance can be managed on the laterals.

CIG declared a Strained Operating Condition Monday, citing the “extremely cold weather” being experienced in its market area. The pipeline said it has “very limited ability to handle imbalances caused by variations between scheduled receipts and deliveries and actual gas flow.” See the bulletin board for details on SOC compliance. CIG added that it does not anticipate the need for an OFO “as long as receipt shortage or delivery overage imbalances do not occur.”

CIG declared a Strained Operating Condition (SOC) that took effect Wednesday until further notice. The pipeline said its usual system flexibility is not available as a result of supplies in excess of markets north of the Springfield (CO) Compressor Station, the anticipated continuation of lower market requirements and the resulting high demand for storage injections. For the duration of the SOC, CIG will be unable to approve payback nominations to the pipeline or to accept any storage injection overrun requests. All interruptible storage shippers will be barred from nominating injections to their accounts. Finally, Auto Park and Loan rates will be raised to the maximum.

Citing the “extremely cold weather” forecast for its market area, CIG declared a Strained Operating Condition that took effect Friday until further notice. The pipeline anticipated “very limited ability to handle imbalances caused by variations between scheduled receipts and deliveries and actual gas flow,” especially during the weather conditions that had been predicted for Friday and Saturday. As of Friday CIG did not anticipate any need to issue an OFO as long as receipt shortage or delivery overage imbalances did not occur.

CIG said the Strained Operating Condition it had declared for the gas days of Wednesday and Thursday, which was caused by power outages related to blizzard conditions, was lifted Thursday.