Thirds

Lehman Brothers will acquire the remaining two-thirds of Houston-based energy marketing and services company Eagle Energy Partners that it does not already own, the firm said Wednesday. The transaction will expand Lehman’s energy trading business, particularly on the physical side, where it has had a relatively small presence.

Between February and April, the northern two-thirds of the United States should expect warmer-than-normal temperatures, with below-normal temperatures confined to the South, according to a seasonal outlook issued last week by WSI Corp.

For the next three months, between February and April, the northern two-thirds of the United States should expect warmer-than-normal temperatures, with below-normal temperatures confined to the South, according to the latest seasonal outlook by WSI Corp.

Forecasts of moderating weekend weather in much of the western two-thirds of the U.S. and a prior-day screen drop of nearly 20 cents combined to create double-digit price declines at all points Friday that generally were almost as large as Thursday’s run-ups. The slump of industrial load that accompanies a weekend was another bearish influence.

With the heating season now about two-thirds over and with ample natural gas remaining in storage, natural gas prices are likely to ease over the next several months, the Energy Information Administration (EIA) said in its February Short-Term Energy Outlook. However, with crude oil prices expected to remain over $40/bbl through 2006, and with the continuing tight gas supply/demand situation over the same period, Henry Hub prices should remain at about $5.45-$5.75/Mcf annually for the 2005 to 2006 period, the agency said.

With the heating season now about two-thirds over and with ample natural gas remaining in storage, natural gas prices are likely to ease over the next several months, the Energy Information Administration said in its February Short-Term Energy Outlook. However, with crude oil prices expected to remain over $40/bbl through 2006, and with the continuing tight gas supply/demand situation over the same period, Henry Hub prices should remain at about $5.45-$5.75/Mcf annually for the 2005 to 2006 period, the agency said.

Nearly two-thirds of Pogo Producing Co.’s Gulf of Mexico (GOM) production, equaling 23,000 bbl/day of crude and 33 MMcf/d of natural gas, continues to be shut in as a result of recent hurricane-related damages, and the losses will affect output in the fourth quarter and possibly longer, the company said Tuesday.

The Michigan Public Service Commission (MPSC) on Thursday cut about two-thirds or $98 million out of Consumers Energy Co.’s requested revenue increase, leaving the Jackson-based combination utility subsidiary of CMS Energy with an increase of about $58.1 million.

The Michigan Public Service Commission (MPSC) on Thursday cut about two-thirds or $98 million out of Consumers Energy Co.’s requested revenue increase, leaving the Jackson-based combination utility subsidiary of CMS Energy with an increase of about $58.1 million.