With moderating temperatures, a hurricane lull and an upcomingholiday weekend pulling the rug out from under bidweek cash prices,the Nymex October futures contract also decided to take the plungeyesterday, plummeting into the $2.70s before settling in thelow-$2.80s and adding to last week’s market dip. Some observersbelieve October is destined to test at least the $2.60s before thisdrop is over.
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Ocean Energy Divests Canadian Assets
Aggressively attempting to lower debt before its upcoming mergerwith Seagull Energy, Ocean Energy Inc. sold its Canadian oil andgas division Friday to Quintana Minerals Canada Corp. for $74million. OEI said shareholders for both companies are holdingspecial meetings March 30 to vote on the merger. If they vote infavor, the company will be officially merged that afternoon.
March 29, 1999
PA Gas Deregulation Bill to Meet Opposition
The Pennsylvania Gas Deregulation bill, which was introduced tothe state legislature last week, will meet steadfast oppositionduring the upcoming Senate Consumer Protection committee hearing onMarch 23. The hearing will be the first time the bill goes up fordebate.
March 22, 1999
Move Afoot to Merge TX RRC, PUC
The upcoming Texas legislative session will see another attemptto merge the Texas Public Utility Commission and the Texas RailroadCommission to create a single agency regulating natural gas,electricity, oil production, as well as telecommunicationsutilities.
January 12, 1999
No Real Problems Seen in Gas Industry’s Y2K Transition
One of the “biggest issues” facing the natural gas industry inthe upcoming year with respect to Y2K will be the readiness of “keyproviders and dependent players,” namely the electricity andtelecommunications industries, said pipeline and LDC officials lastweek.
December 28, 1998
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