Talks

A story that ran in NGI’s Daily Gas Price Index on Sept. 7 titled, “CONSOL CEO Highlights Gas Production, Talks Power,” incorrectly reported the difference between analysts’ estimates of CONSOL Energy earnings and CEO J. Brett Harvey’s guidance for the six month period ending Dec. 31. Harvey told investors last Thursday at the Friedman Billings Ramsey 8th Annual Investor Conference in Washington, DC, that he expects the company to earn about $0.50/share for the six-month period, which is $0.34 below Wall Street estimates of $0.84/share for the six-month transition period ending Dec. 31. NGI regrets the error. In addition, CONSOL Energy issued a correction to its news release on Friday. CONSOL Energy acquired “366 Bcf” rather than “366 MMcf” as originally issued on Thursday.

With talks still under way between producers and aboriginal peoples in Canada’s far north, Imperial Oil Ltd.’s investor relations manager J.C. Cote said Thursday that by the end of this year the producer group is expected to announce plans for a single natural gas pipeline from the Mackenzie Delta to Norman Sands to carry Canadian gas only. Cote, who was in Toronto to speak at the Canadian Oil & Gas Conference sponsored by Peters & Co. Ltd., also said that Imperial’s natural gas production, which up to now has been entrenched in Western Canada, surprisingly will be paralleled on the East Coast in Sable Island in the future.

Based on current operating conditions and future prices for coal and natural gas, CONSOL Energy CEO J. Brett Harvey told investors Thursday at the Friedman Billings Ramsey 8th Annual Investor Conference in Washington, DC, that he expects the company to earn about 2 cents/share below Wall Street estimates of $0.52/share for the six-month transition period ending Dec. 31.

With talks still under way between producers and aboriginal peoples in Canada’s far north, Imperial Oil Ltd.’s investor relations manager J.C. Cote said Thursday that by the end of this year the producer group is expected to announce plans for a single natural gas pipeline from the Mackenzie Delta to Norman Sands to carry Canadian gas only. Cote, who was in Toronto to speak at the Canadian Oil & Gas Conference sponsored by Peters & Co. Ltd., also said that Imperial’s natural gas production, which up to now has been entrenched in Western Canada, surprisingly will be paralleled on the East Coast in Sable Island in the future.

While still holding out the carrot of a possible 40-well, 3 Tcf natural gas play in the agricultural fields west of the central California valley town of Delano, Tri-Valley Corp. of Bakersfield announced that it has a letter of intent to sign a deal with an unnamed, privately held international energy company that wants to develop the prospective gas field in conjunction with building a baseload merchant electric generating plant. Tri-Valley called the field its Sunrise Natural Gas Project.

President Bush “obviously likes and trusts Pat Wood,” said former FERC Chairman James J. Hoecker last week, when asked why he thought the president decided to get rid of current Chairman Curt Hebert Jr., a Republican, after just seven months on the job and replace him with Wood to lead the Commission.

President Bush “obviously likes and trusts Pat Wood,” said former FERC Chairman James J. Hoecker yesterday, when asked why he thought the president decided to get rid of current Chairman Curt Hebert Jr., a Republican, and replace him with Wood.

While still holding out the carrot of a possible 40-well, 3 Tcf natural gas play in the agricultural fields west of the central California valley town of Delano, Tri-Valley Corp. of Bakersfield announced Wednesday that it has a letter of intent to sign a deal with an unnamed, privately held international energy company that wants to develop the prospective gas field in conjunction with building a baseload merchant electric generating plant. Tri-Valley called the field its Sunrise Natural Gas Project.

In response to consumer concerns, the staff of the Public Utilities Commission of Ohio (PUCO) released a 32-page report titled “Natural Gas Price Issues in Ohio” to explain why gas prices increased this past winter and to provide possible ways to avoid a recurrence in the future. The study also explained the current problems the competitive gas choice programs are facing in the state and what can be done to right the ship.