Gas well completions are up throughout the Lower 48, but there is still “considerable uncertainty” regarding how much supply will come from the increased drilling, according to the Energy Information Administration. Noting recent price trends and increased drilling activity, EIA found there should be an excess gas supply by the end of 2001, but caveats remain.
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EIA: Drilling Levels Up, but Supply Trends Uncertain
Gas well completions are up throughout the Lower 48, but there is still “considerable uncertainty” regarding how much supply will come from the increased drilling, according to the Energy Information Administration. Noting recent price trends and increased drilling activity, EIA found there should be an excess gas supply by the end of 2001, but caveats remain.
CA’s Chief Power Negotiator Defends Results,Leery of Summer
California still faces a very uncertain electric supplysituation during peak-demand times this summer, and a massiveconservation effort about to be introduced by Gov. Gray Davis.Davis’ plan will impact all local government and businessesstatewide, and it may be the only way to avoid rolling blackouts,according to the state’s chief negotiator for long-term powercontracts.
KS Officials Still Uncertain What Caused Gas Explosions
City officials in Hutchinson, KS have moved into an”investigation and recovery stage” after a suspected leakingnatural gas storage cavern caused two explosions last week,leveling businesses and killing one man and injuring his wife. Thecavern was sealed Monday and now experts are trying to determinehow to vent a huge gas bubble still spewing through geysers allover town.
Re-opening El Paso Line 1110 Uncertain; 12th Victim Dies
As the week of the worst natural gas pipeline disaster on recordever drew to a close, with the last victim dying on Friday, federalregulators weren’t saying when El Paso Natural Gas could re-open atleast one of the three lines comprising its South Mainline systemthat was ordered shut down following the explosion in New Mexicothat claimed 12 lives (see Daily GPI, Aug. 25).
Futures Retrace Off Fresh Highs; Storm Path Uncertain
After spiking 7% higher Monday on storm hype, natural gasfutures retraced lower yesterday as traders hedged against thepossibility that the storm will miss the Gulf of Mexico entirely.Before tumbling lower, however, the prompt month was able to carveout a fresh all-time prompt month high at $4.85. The Septembercontract finished on the defensive, down 22.7 cents for the sessionat $4.52.
Columbia Tells NiSource To Hit the Road, Again
Columbia Energy Group’s (CG) board once again told NiSource, inno uncertain terms, to take a hike last week and urged CGshareholders to reject NiSource’s $68/share ($5.7 billion) hostiletakeover offer. NiSource took its offer to shareholders June 25 andsaid it will continue to fight for the deal. It had no tally ofshares tendered as of last week but said numbers would be availablesoon.
Columbia Tells NiSource to Hit the Road, Again
Columbia Energy Group’s (CG) board once again told NiSource, inno uncertain terms, to take a hike yesterday and urged CGshareholders to reject NiSource’s $68/share ($5.7 billion) hostiletakeover offer. NiSource took its offer to shareholders June 25 andsaid it will continue to fight for the deal. It had no tally ofshares tendered as of yesterday but said numbers would be availableby the weekend.
ANR Eugene Island Expansion Still Uncertain
ANR Pipeline has yet to decide whether to proceed with expansionof its Eugene Island system in the Gulf of Mexico in the wake of aFERC order upholding a previous decision that approved the projectbut put ANR at risk for its cost. “I think all I can say at thispoint is we’re continuing to review the order and consider ouroptions,” an ANR spokesman said Friday.
Weatherproofing Offers to Even Out Natural Gas Bills
In this uncertain world Pittsburgh-based Weatherwise USA isoffering to eliminate one weather-related stress factor – that ofskyrocketing gas heating and cooling bills. The WeatherwiseWeatherProof Bills program claims to be the first to offer afixed-price gas service that eliminates weather- and gasprice-related uncertainty for individual consumers.