Strings

Encana Corp. is tightening the purse strings and slowing output in 2011 because of sustained low prices, an executive said Wednesday.

Gas market participants who have groused that hedge funds and speculators have toyed with their purse strings will have a new (and more real) bogey man in the years to come as liquefied natural gas (LNG) captures an increasing share of the North American gas market and the United States becomes more exposed to overseas pricing dynamics..

Dominion Resources Inc. reported last Thursday that fourth quarter net income for the company rose significantly over a year ago due to a variety of factors, including higher production levels and expanded growth in its customer base. Nevertheless, it said it plans to dramatically tighten its capital spending in 2003 and beyond to boost cash flow.

Dominion Resources Inc. reported Thursday that fourth quarter net income for the company rose significantly compared to a year earlier due to a variety of factors, including higher production levels and expanded growth in its customer base. Nevertheless, it said it plans to dramatically tighten its capital spending in 2003 and beyond to boost cash flow.

Equitable Resources revealed its 1999 capital budget Monday,demonstrating its dedication to focusing on only its coreAppalachia production and gas utility businesses. Equitable’s 1999spending plan for its four main divisions, Equitable Production,Utilities, Services, and its corporate group, adds up to $119million, representing a $64 million decrease from 1998. Theproduction unit was allocated 54% of the budget, down 21% from theyear before.