Update

SEC Expands Reserves Reporting to Include Probable, Possible

The Securities and Exchange Commission (SEC) Monday approved a significant update of its reserves reporting requirements for oil and gas companies, enabling them to report probable and possible reserves along with proved reserves.

December 31, 2008

Transportation Notes

In an update on the impact from a recent brush fire that burned through its Aliso Canyon storage field (see Daily GPI, Oct. 16), Southern California Gas (SoCalGas) said that although the fire did not cause damage to Aliso Canyon’s major facilities, it did damage power and communication infrastructure. SoCalGas said it was working to complete the necessary repairs but did not know when the field would be back in service.

October 17, 2008

WSI Adds Another Intense Hurricane to Tropical Forecast

WSI Corp., which already forecast an active 2008 Atlantic hurricane season, upped the ante slightly in an update of its tropical forecast, calling for 14 named storms and eight hurricanes, including four intense hurricanes (Category 3 or greater) to form between June 1 and Nov. 30.

April 23, 2008

NatGas Futures Press Upper Range on Crude Strength, Supply Concerns

Supportive crude prices, no update on the Independence Hub repairs and the first year-on-five-year average storage deficit in almost four years continued to push natural gas futures higher in Tuesday’s trade, but not high enough to break out of the recent trading range. After recording the day’s high of $10.280 in morning trade, May natural gas futures put in a low of $10.165 before closing out Tuesday’s regular session at $10.205, up 15.2 cents from Monday’s close.

April 16, 2008

Transportation Notes

ANR ended Friday the Extreme Condition that had been implemented Wednesday.

February 25, 2008

Transportation Notes

In a weekend update to shippers with Must-flow OFO obligations south through the Kemmerer (WY) Compressor Station, Northwest said Sunday’s scheduled nominations northbound through Kemmerer were 694,434 Dth, or 29,434 Dth above the operationally available capacity. “The total volumes Northwest can call upon from Realignment shippers continue to decline as Realignment shippers bring on more supply from receipt points north of Kemmerer,” the pipeline said. “As a result, Northwest was less than 5,000 Dth/d away from issuing individual notices to Must-flow shippers.” Northwest said that if primary firm nominations continue to exceed the operationally available capacity and the volumes subject to a Realignment OFO continue to decline, it will issue individual notices to Must-flow shippers to nominate from receipt points north of Kemmerer to delivery points south of Kemmerer.

December 4, 2007

MMS Seeks to Update Pipeline Regulations

The Interior Department’s Minerals Management Service is seeking to update its regulations involving pipelines and pipeline rights-of-way (ROW) on the federal Outer Continental Shelf (OCS). The regulations were last revised in 1988.

October 8, 2007

MMS Seeks to Update Pipeline Regulations

The Interior Department’s Minerals Management Service is seeking to update its regulations involving pipelines and pipeline rights-of-way (ROW) on the federal Outer Continental Shelf (OCS). The regulations were last revised in 1988.

October 4, 2007

Fitch Says Long-Term Gas Prices ‘Reflect Gradual Decline’

In a Wholesale Power Market Update issued last week, Fitch Ratings said that over the next 12 months, natural gas prices will remain volatile, fluctuating between $6 and $10/MMBtu. Longer-term, Fitch expects gas prices to average between $5-6/MMBtu.

November 6, 2006

Transportation Notes

In a further update about maintenance on Line 4000 that has caused a loss of 700 MMcf/d of receipt capacity at the South Needles (El Paso, Topock), and North Needles (Transwestern and Southern Trails) border points since Sept. 20 (see Daily GPI, Oct. 13), Southern California Gas said Tuesday the line will be isolated from Newberry to Main Line Valve 12 (a total of 36 miles) due to numerous anomalies recently discovered from internal inspection. The line will remain out of service until mid to late December, SoCalGas said.

November 1, 2006