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Using preliminary data from the Energy Information Administration between April and July, energy consultant Matthew Simmons said there is a “solid case” that mild summer weather and nothing else was the “storage savior” for natural gas going into the heating season.

Mexico’s state-run oil and gas company on Thursday called for its first exploration and production bids using multiple service contracts (MSCs), which will allow private companies to invest in an ambitious plan to increase country’s sagging natural gas production. Petroleos Mexicanos (Pemex) on Thursday called for bids on the 10- to 20-year MSCs, which will allow private companies to explore for natural gas in the Burgos Basin, located in the northeast part of Mexico. The contracts were finalized earlier this year (see Daily GPI, Feb. 19 ), and companies have been given access to basin information. With the MSCs, Mexico will own the property and will remain over the domain of the hydrocarbons, controlling exploration and production. The contractor will receive a fee for the works performed and services rendered. The first round of bids will be tendered on seven blocks. Pemex called for bids on four blocks on Thursday, and three more blocks will be announced within the next two weeks, Pemex said. Overall, the seven blocks cover a 13,300 square kilometer area, and their initial proved and probable reserves are estimated at 800 Bcf. For more information, visit www.pemex.gob.mx.

Mexico’s state-run oil and gas company on Thursday called for its first exploration and production bids using multiple service contracts (MSCs), which will allow private companies to invest in an ambitious plan to increase country’s sagging natural gas production.

Flush with cash on higher commodity prices, U.S.-based independents’ record quarterly earnings have overshadowed stellar natural gas production numbers from some of the gas-rich domestically focused producers. Mega-independent Devon Energy Corp. gained production-wise with its Ocean Energy Inc. merger; however, Houston Exploration Co., Swift Energy Co. and Range Resources Co. also posted higher North American natural gas production numbers, and will use their bonus cash on exploration and production (E&P) through 2003.

While residential gas demand continues to inch higher because the number of homes using natural gas is rising, gas use per home fell 22% from 1980 to 2001 and 6.4% between 1997 and 2001 because of greater efficiency of home heating equipment and appliances and customer conservation, according to a new report by the American Gas Association (AGA).

Using its back-to-basics approach, and a little help from good weather, CMS Energy reported Thursday that it managed to improve earnings in the first quarter, reaching $79 million (51 cents a share) compared with last year’s quarterly earnings of $42 million (32 cents).

Using its back-to-basics approach, and a little help from good weather, CMS Energy reported Thursday that it managed to improve earnings in the first quarter, reaching $79 million (51 cents a share) compared with last year’s quarterly earnings of $42 million (32 cents).

The court-appointed examiner reviewing Enron Corp. has concluded that the former trading firm engineered its financials with the use of special purpose entities (SPEs) and accounting techniques so that its published statements “diverged materially from Enron’s actual economic condition and performance.” The SPEs, said Neal Batson, apparently accounted for 96% of Enron’s $979 million in net income for 2000, and allowed it to report debt of only $10.2 billion instead of $22.1 billion.

Documents furnished by PG&E Gas Transmission-Northwest Corp. (PG&E-GTN) to FERC fail to “conclusively establish” that the pipeline can demand one year of reservation charges as collateral from non-creditworthy shippers to guarantee continued transportation service, according to Denver, CO-based e prime Inc., a subsidiary of Xcel Energy.