Voluntary natural gas price surveys have come a long way from the depths of the market crisis in 2002 as both the volume of trading and the reporting of trades has greatly increased in 2003, Natural Gas Intelligence (NGI) said Wednesday in a report to the Federal Energy Regulatory Commission.
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NGI: Price Reporting on the Upswing
Voluntary natural gas price surveys have come a long way from the depths of the market crisis in 2002 as both the volume of trading and the reporting of trades has greatly increased in 2003, Natural Gas Intelligence (NGI) said Wednesday in a report to the Federal Energy Regulatory Commission.
EnCana Shoots for 10% Sales Growth in ’04 from Existing Assets
EnCana Corp. has targeted a 10% per-share sales volume growth rate in 2004 from its existing assets, which, if achieved, would total between 805-885 MMboe/d. Gas sales in 2004 are forecast to be between 3.25-3.45 Bcf/d and oil and natural gas liquids sales are forecast between 265,000-310,000 bbl/d, a 10% increase over 2003 targets.
EnCana Shoots for 10% Sales Growth in ’04 from Existing Assets
EnCana Corp. has targeted a 10% per-share sales volume growth rate in 2004 from its existing assets, which, if achieved, would total between 805-885 MMboe/d. Gas sales in 2004 are forecast to be between 3.25-3.45 Bcf/d and oil and natural gas liquids sales are forecast between 265,000-310,000 bbl/d, a 10% increase over 2003 targets.
Transportation Notes
Tennessee said it was ceasing enforcement Tuesday of a Balancing Party’s Maximum Allowable Volume.
Industry Debates Rules for EIA Storage Surveys
Constant revisions to the weekly natural gas storage surveys contribute to undue market volatility, according to commenters on the Energy Information Administration’s (EIA) proposed survey changes (see Daily GPI, July 12). The comments ranged from warnings that changes to the storage revisions policy could lead to market manipulation, to recommendations that companies frequently reporting revisions be penalized.
Sequent Reports Strong Volume Growth Since Enron’s Fall
Sequent Energy Management, AGL Resources’ wholesale marketing and supply arm, is not being shy about benefiting from Enron’s demise. The company announced that it has experienced rapid growth in wholesale volumes since Enron entered a downward spiral last fall, including a 300% increase in daily gas volumes in December and another 25% jump in January to 2.5 Bcf/d.
Sequent Reports Strong Volume Growth Since Enron’s Fall
Sequent Energy Management, AGL Resources’ wholesale marketing and supply arm, is not being shy about benefiting from Enron’s demise. The company announced that it has experienced rapid growth in wholesale volumes since Enron entered a downward spiral last fall, including a 300% increase in daily gas volumes in December and another 25% jump in January to 2.5 Bcf/d.
Enron Stock Drops Another 16%; CFO Ousted
Enron Corp.’s bloodletting continued Wednesday, as the stock price took another hit in extremely heavy volume, with close to 50 million shares trading hands. The stock finally closed at $16.54, down another $3.25, or 16.42%, from the previous day, after rocking back and forth as one of the biggest losers in early trading on the New York Stock Exchange. It reached a depth of $15.51 before climbing again. Pouring salt on the wound, several Wall Street analysts also cut their ratings Wednesday, including Prudential Securities, which advised its clients to sell.
Reporting Requirement OK’d for Transporters, Sellers to CA
FERC last week voted out a final rule that imposes a monthly (price and volume) reporting requirement on natural gas transporters and sellers to California until September 2002 in an attempt to bring gas prices there in line with other major markets around the country.