Testing

Enterprise Products Partners LP reported record profit in the final three months of 2007, but unexpected construction and start-up delays at two of its high-profile Rocky Mountain natural gas processing facilities resulted in lower-than-expected earnings.

February natural gas futures continued testing lower price levels on Thursday, aided by an anemic 59 Bcf withdrawal in the Energy Information Administration’s (EIA) storage report for the week ended Jan. 11. The prompt-month contract breached psychological support at $8 before closing out the day at $8.081, down 5.2 cents from Wednesday’s finish.

After digesting and dismissing a larger-than-expected storage withdrawal report in morning trade and testing $8 resistance-turned-support, February natural gas futures did an about-face to the upside just before noon EST on Thursday. Fueled by talks of further interest rate cuts, the contract notched a new $8.280 high for the move before settling the day at $8.259, up 16 cents from Wednesday’s finish.

Energas Resources Inc. has reactivated oil and natural gas production in the Parkway Project in Kentucky after gas testing met pipeline requirements. The company’s field personnel have converted two of the first four wells to electric pump jacks utilizing a timing system to stabilize flow rates and pressure. The two wells have produced approximately 66 MMBtu/d of natural gas and 2 b/d of oil since May 23. Energas is now reevaluating the development strategy and proposed treatment methods for the Parkway Project.

Testing the waters to see if there is adequate market support for the conversion of a gas liquids storage cavern to natural gas storage operations in Mont Belvieu, TX, Houston-based Enterprise Products Partners LP and Duncan Energy Partners LP, through their Mont Belvieu Caverns LLC (MBC) affiliate, announced the start of a binding open season for up to 10 Bcf of firm natural gas storage capacity.

Testing the waters to see if there is adequate market support for the conversion of a gas liquids storage cavern to natural gas storage operations in Mont Belvieu, TX, Houston-based Enterprise Products Partners LP and Duncan Energy Partners LP, through their Mont Belvieu Caverns LLC (MBC) affiliate, announced the start of a binding open season for up to 10 Bcf of firm natural gas storage capacity.

Citing current inventory levels and scheduled storage shut-in testing, Dominion said an OFO will take effect Wednesday. It said it has taken certain actions that will affect Appalachian pool operators bringing gas into the Dominion system. In order to preserve the pipeline’s ability to receive gas for injection from firm customers, the OFO requires all shippers to ensure that all confirmed scheduled nominations for receipts will equal deliveries. See the bulletin board for other conditions of the OFO.

Williams’ Northwest Pipeline is testing market interest in long-term firm transportation service on a proposed pipeline lateral from Greasewood, CO, to Northwest’s mainline near Sand Springs, CO, or to other pipeline interconnections downstream of the Greasewood Hub.

Williams’ Northwest Pipeline is testing market interest in long-term firm transportation service on a proposed pipeline lateral from Greasewood, CO, to Northwest’s mainline near Sand Springs, CO, or to other pipeline interconnections downstream of the Greasewood Hub.