Suffer

Natural gas prices will stay stable in a low range for the next five years across North America, and Canadian producers will suffer the most, the Calgary capital of the western industry heard Wednesday.

The global integrated oil and natural gas industry will suffer through a “slow and painful” economic recovery in 2010, with worldwide demand lower at a time when inventories are near record highs, Moody’s Investors Service reported Thursday.

As the northern Plains, the Great Lakes and the Northeast continued to suffer through an arctic cold wave with temperatures as low as 42 below zero, the natural gas futures market on Monday recorded modest gains while watching the cash market soar to near record highs at some points (see related story). March natural gas futures finished Monday’s regular session 15.8 cents higher at $7.634 after putting in an overnight high at $8.030.

Increasing demands and roadblocks by aboriginal groups in Canada are contributing to fears the Mackenzie Valley Gas Pipeline Project may suffer the same fate of a similar Mackenzie project nearly 25 years ago, which was abandoned in the face of aboriginal rights claims.

Increasing demands and roadblocks by aboriginal groups in Canada are contributing to fears the Mackenzie Valley Gas Pipeline Project may suffer the same fate of a similar Mackenzie project nearly 25 years ago, which was abandoned in the face of aboriginal rights claims.

Western Gas Resources Inc. reported a 65% increase in earnings per diluted share Tuesday to 56 cents/share, a 7.2% increase in gas production to an average of 149 MMcf/d, higher gas gathering throughput and much higher realized gas prices.

Western Gas Resources Inc. reported a 65% increase in earnings per diluted share Tuesday to 56 cents/share, a 7.2% increase in gas production to an average of 149 MMcf/d, higher gas gathering throughput and much higher realized gas prices.

In sympathy with its petroleum complex brethren, and amid concerns that it is not too late in the season to suffer hurricane-related production loss, natural gas futures shuffled higher Monday, after a disappointing opening trade threatened to take the prompt month to new lows. November finished the session at $2.27, 4.3 cents higher for the day and 13 cents above its Oct. 1 lows.

As Enron Corp.’s stock continued on a downward spiral yesterday in the wake of President and CEO Jeff Skilling’s announced resignation late Tuesday, Wall Street analysts moved quickly to reduce their long-term price targets for the energy giant’s stock and downgrade their ratings (see Daily GPI, Aug. 15).