Trying

Canada’s northern pipeline project has become a case of never say never, with the senior sponsor promising to keep on trying to launch construction but setting no dates.

Canadian government leaders promptly shot down the latest report that Ottawa is trying to rescue the stalled Mackenzie Valley Pipeline project by taking over ownership from its sponsoring natural gas producer consortium.

Canadian government leaders promptly shot down the latest report that Ottawa is trying to rescue the stalled Mackenzie Valley Pipeline project by taking over ownership from its sponsoring natural gas producer consortium.

After trying to break below $7.10 for the last couple of weeks, natural gas futures traders were finally successful Friday as the prompt month notched a low of $7.060 before closing at $7.083, down 15.6 cents on the day and 16 cents lower than the previous Friday’s close. Traders on Friday continued to battle entrenched support, but unlike previous attempts that sparked rallies, the bulls were not able to answer the call this time.

New Orleans-based Energy Partners Ltd. (EPL), which has been trying to avoid a takeover by Australian-based Woodside Petroleum Ltd. subsidiary ATS Inc., lowered its 3Q2006 production guidance, citing equipment delays and mechanical issues at its South Timbalier and Eugene Island leases. The mechanical and equipment issues have been resolved, and EPL expected output to reach about 30,000 boe/d earlier this month. EPL last month rejected the ATS takeover offer of about $883 million, or $23/share (see NGI, Sept. 18). The ATS offer has been extended to Oct. 20. ATS also is seeking to remove EPL’s board, and it is soliciting proxies from shareholders to vote against EPL’s proposed $2.2 billion acquisition of Lafayette, LA-based Stone Energy Corp. (see NGI, June 26).

New Orleans-based Energy Partners Ltd. (EPL), which has been trying to avoid a takeover by Australian-based Woodside Petroleum Ltd. subsidiary ATS Inc., on Monday lowered its 3Q2006 production guidance, citing equipment delays and mechanical issues at its South Timbalier and Eugene Island leases.

Jurors in the Houston trial of two natural gas traders accused of trying to manipulate prices in 2000 waded through often complicated explanations of trading, hedging, spot and futures markets. They also were treated last week to review of numerous trader phone calls and e-mails that offered some saucy language along with insight into the high-stakes world of gas markets, where a few pennies this way or that can make or lose a small fortune.

With natural gas storage levels high and gas prices hovering lower, energy analysts last week were trying to figure out what effect the high storage levels are having on prices and demand destruction.

Producers hoping to get their message across with the press and the general public are failing because they are trying to use reason and logic. They need to take the gloves off and craft more emotional and personal messages, according to an advocate for land access in the West.