Substantially

Florida Gas Transmission extended an Overage Alert Day notice through at least Friday, but substantially loosened the tolerance for negative daily imbalances from 5% to 25%.

Subsea processing is poised to grow into an important new business sector because it can substantially reduce offshore platform expenditures and in some cases, eliminate the need for platforms completely, according to a joint study by energy analysts Douglas-Westwood and technology specialists OTM Consulting.

Subsea processing is poised to grow into an important new business sector because it can substantially reduce offshore platform expenditures and in cases, eliminate the need for platforms completely, according to a joint study by energy analysts Douglas-Westwood and technology specialists OTM Consulting.

Large losses continued during the second quarter at Aquila, but they were substantially smaller than in 2Q 2002 when the company reported a net loss of $810 million. Aquila, which is exiting energy trading and most of its merchant energy operations to focus on its core utility business, reported an $80.6 million net loss, or ($0.41)/share, during the second quarter of 2003.

Large losses continued during the second quarter at Aquila, but they were substantially smaller than in 2Q 2002 when the company reported a net loss of $810 million. Aquila, which is exiting energy trading and most of its merchant energy operations to focus on its core utility business, reported an $80.6 million net loss, or ($0.41)/share, during the second quarter of 2003.

Rockford Energy Partners LLC announced that it has acquired substantially all of the assets of ECC Energy Corp., including 200 company operated coal bed methane gas wells, approximately 100,000 acres of oil and gas leases, heavy equipment including two drilling rigs and a completion rig along with over 180 miles of pipeline and compressor stations. Gross operated production is around 10 MMcf/d while Rockford’s net production is about 7 MMcf/d. “This acquisition immediately makes Rockford one of the largest producers of CBM in the Cherokee Basin of Northeast Oklahoma,” said Rockford President Chuck Perrin. “In addition, we have identified over 200 proven undeveloped CBM locations that we plan to drill over the next 12 months and we plan to capitalize on the significant infrastructure we now have in place by acquiring additional properties in the play.” Newly formed Rockford CBM LLC and Rockford Service Company LLC will hold title to and operate the properties. Rockford Energy Partners LLC is a portfolio company of Quantum Energy Partners of Houston.

Exploration and production (E&P) spending in 2003 is likely to be at least 20% higher than it was in 2002 because natural gas prices will generate substantially larger amounts of free cash flow, according to the latest “Stat Of the Week” by Raymond James Energy analysts.

Exploration and production (E&P) spending in 2003 is likely to be at least 20% higher than it was in 2002 because natural gas prices will generate substantially larger amounts of free cash flow, according to the latest “Stat Of the Week” by Raymond James Energy analysts.

TECO Energy announced Friday that its TECO Coalbed Methane subsidiary has completed the sale of substantially all of its gas producing assets in Alabama to the Municipal Gas Authority of Georgia and the Southeast Alabama Gas District for $140 million. The property includes 150 Bcf of long-lived, proven reserves.