Survey

The cash market appeared to be slipping into a holding pattern Wednesday with close-to-flat prices prevailing at virtually all points. Only a few points, nearly all in the West, saw prices move by a dime or more. Flat quotes were common in a market that was approximately evenly divided among losses of up to about 15 cents and gains that also ran as high as about 15 cents (Questar was an exception with an increase of about 30 cents).

Exploration and production (E&P) companies appear “more than willing” to continue investing this year in the drillbit and in acquisitions, according to an informal survey by Raymond James & Associates energy analysts.

The chairman of the Public Utilities Commission of Ohio (PUCO) on Tuesday asked the state’s local distribution companies (LDC) to survey some of the customer-owned natural gas service lines to ensure they are safe. A recent report by PUCO staff indicated that some of the state’s gas lines may be susceptible to leaks in certain circumstances.

Louisiana Gov. Kathleen Blanco said last week that new estimates by the U.S. Geological Survey (USGS) that show 217 square miles of Louisiana wetlands were washed away by hurricanes Katrina and Rita provide strong support for her legal action against the Minerals Management Service’s (MMS) recent western Gulf oil and gas lease sale.

Nexen topped the rankings of gas purchasers/marketers in a new customer satisfaction survey based on 300 interviews with gas producers by Missouri-based Mastiogale. Other top buyers that exceeded the industry benchmark were BP, ConocoPhillips, Shell Energy Trading and Corpus Christi-based marketer Shoreline Gas.

Nexen topped the rankings of gas purchasers/marketers in a new customer satisfaction survey based on 300 interviews with gas producers by Missouri-based Mastiogale. Other top buyers that exceeded the industry benchmark were BP, ConocoPhillips, Shell Energy Trading and Corpus Christi-based marketer Shoreline Gas.

Louisiana Gov. Kathleen Blanco said Wednesday that new estimates by the U.S. Geological Survey (USGS) that show 217 square miles of Louisiana wetlands were swept away by hurricanes Katrina and Rita provide strong support for her legal action against the Minerals Management Service’s (MMS) recent western Gulf oil and gas lease sale.

Despite weaker gas prices this summer because of the gas storage surplus, Raymond James’ mid-2006 exploration and production (E&P) capital expenditure survey last week indicated North American producers’ total spending in 2006, which includes exploration and development (E&D), acquisitions and stock buybacks, will increase 10-15%.

Despite the volatility in natural gas prices, Raymond James’ mid-2006 exploration and production (E&P) capital expenditure survey indicates North American producers’ total spending in 2006, which includes exploration and development (E&D), acquisitions and stock buybacks, should jump 10-15%.