Traded

Neighboring California utilities, Sempra Energy’s Southern California Gas Co. and Edison International’s Southern California Edison Co., traded accusations during the opening last week of evidentiary hearings in an 18-month-old state regulatory investigation of the wholesale natural gas market during the state’s energy crisis in 2000-2001.

Neighboring California utilities, Sempra Energy’s Southern California Gas Co. and Edison International’s Southern California Edison Co., traded accusations during the opening last week of evidentiary hearings in an 18-month-old state regulatory investigation of the wholesale natural gas market during the state’s energy crisis in 2000-2001. SoCalGas has had to fight off relentless accusations by Edison that the gas utility and its Sempra affiliate, San Diego Gas and Electric Co., constrained supplies from storage to push up wholesale gas prices.

Enterprise Products Partners LP, the second largest publicly-traded midstream energy partnership in the country, reported a strong increase in demand for its energy services in the first quarter, with net income rising to $58.5 million (23 cents/unit), compared with $40.5 million (19 cents) a year earlier.

Enterprise Products Partners LP, the second largest publicly-traded midstream energy partnership in the country, reported a strong increase in demand for its energy services in the first quarter, with net income rising to $58.5 million (23 cents/unit), compared with $40.5 million (19 cents) a year earlier.

Calgary-based but U.S.-traded Energy Exploration Technologies (NXT) said late Monday that it has acquired a 33.33% working interest in 1,094 hectares (four gas spacing units) of Crown lands in the Tenaka area in northeast British Columbia.

Despite calls for an expiration-day short-covering rally, natural gas futures traded listlessly sideways Tuesday, evidence that most traders had already squared their August books. With that the August contract limped off the board at $4.693, down 0.7 cents for the session, 60 cents less than July’s settlement and a whopping 72 cents below where it was when it became prompt contract a month ago. At 80,239, estimated volume was extremely low for an expiration day.

El Paso Corp. was in the unenviable position of being the most traded common stock on the New York Stock Exchange Wednesday because investors were continuing a sell-off. The company’s stock dropped a little over 22% to $3.65. The market overall was down on war fears, and other energy companies took a hit, but not in the same league as El Paso.

Natural gas and petroleum products are the second most heavily traded category of futures contracts on organized exchanges, after financial products, according to a new Energy Information Administration (EIA) report released last month. The government agency noted that the growth in derivatives — i.e., futures, options, swaps and forwards — points out just how volatile energy markets are.

Natural gas and petroleum products are the second most heavily traded category of futures contracts on organized exchanges, after financial products, according to a new Energy Information Administration (EIA) report released last month. The government agency noted that the growth in derivatives — i.e., futures, options, swaps and forwards — points out just how volatile energy markets are.