Weathering a financially topsy-turvy 2008, Kinder Morgan Energy Partners LP (KMP) posted full-year 2008 net income of $1.3 billion, up 124% from $590.3 million in 2007, thanks in large part to the start-up of Rockies Express-West Pipeline (REX-West). However, due to some general economic factors, lower realized energy prices and “lost business” due to hurricanes, the North American pipeline transportation and energy storage company recorded 4Q2008 net income of $284.6 million, which was down 2.9% from the $293.3 million during 4Q2007.
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KMP Saw ‘Rocky’ 4Q, Eyes 2009 Pipe Start-Ups
Weathering a financially topsy-turvy 2008, Kinder Morgan Energy Partners LP (KMP) posted full-year 2008 net income of $1.3 billion, up 124% from $590.3 million in 2007, thanks in large part to the start-up of Rockies Express-West Pipeline (REX-West). However, due to some general economic factors, lower realized energy prices and “lost business” due to hurricanes, the North American pipeline transportation and energy storage company recorded 4Q2008 net income of $284.6 million, which was down 2.9% from the $293.3 million during 4Q2007.
Futures Hover Near $9 Following Supportive Storage Withdrawal
Capping off a topsy-turvy holiday-shortened week of natural gas futures trading, the April contract attempted to work lower Thursday morning before being propped up by a fairly supportive 85 Bcf storage withdrawal report. The prompt-month contract put in a low of $8.700 before settling at the $9.065 high on the day, up 4.1 cents from Wednesday, but 81.3 cents lower than the previous week’s finish.
Futures Push Higher But Close 52.1 Cents Lower than Previous Week
Following its recent track record of topsy-turvy moves, December natural gas futures on Thursday and Friday finished out the week with a rebound following a $1-plus drop that was concluded earlier in the week. The prompt-month contract recorded a high of $7.920 Friday before closing at $7.897, up 18.4 cents from Thursday but 52.1 cents lower than the previous Friday’s close.
Natgas Futures Push Higher in Concert with Crude
Following a topsy-turvy day of rallies and recesses, May natural gas futures on Monday ultimately recorded a high of $7.590 before settling at $7.562, up 18.1 cents on the day. In commenting on the significant up-day, Commercial Brokerage Corp.’s Tom Saal said the move higher was actually the result of two failed attempts to break below support lines.
Future Finish Strong Despite Expected Warm-Up
Following a topsy-turvy week of trade that featured a deep freeze in the Midwest and East and a mammoth 259 Bcf storage withdrawal report for the week ended Feb. 9, March natural gas futures on Friday explored higher price levels. The prompt month put in a high of $7.620 before settling at $7.503, up 21.1 cents on the day but 32.4 cents lower than the previous Friday’s close.
Futures Finish Week 10.6 Cents Higher as Traders Await Cold Front
Despite enduring a topsy-turvy week of large swings in both directions, March natural gas futures finished the week within shouting distance of where they began. After hitting a high of $8.650 late in the afternoon, the prompt month settled at $8.613, up 26.6 cents on the day and 10.6 cents higher than the contract’s previous-week close.
In Search of Support, Futures Drop 77.8 Cents for the Week
Following a topsy-turvey week, natural gas futures decided to give it a rest on Friday by trading within a 23 cent range and closing at $7.176, down 6 cents on the day. While Friday ended quietly for the prompt month, the week was somewhat more volatile. The December contract finished the week down 77.8 cents, which coincidentally makes for the second week in a row that December has fallen by 77 cents (see Daily GPI, Nov. 8).
In Search of Support, Futures Drop 77.8 Cents for the Week
Following a topsy-turvey week, natural gas futures decided to give it a rest on Friday by trading within a 23 cent range and closing at $7.176, down 6 cents on the day. While Friday ended quietly for the prompt month, the week was somewhat more volatile. The December contract finished the week down 77.8 cents, which coincidentally makes for the second week in a row that December has fallen by 77 cents (see Daily GPI, Nov. 8).
Futures Grind Lower as Apprehension Over Weather Forecasts Mounts
Natural gas futures completed a topsy-turvy trading week on a down note Friday, pressured lower by light pre-holiday profit-taking. The January contract dropped 14 cents to close at $6.982.