Waiting

Don’t hold your breath waiting for a revised plan from EnCana Corp. on its stalled Deep Panuke natural gas project offshore Nova Scotia. After notifying provincial authorities in December it would submit a new plan in six months, EnCana now estimates it could take up to a year as it works on ways to make the offshore discovery economical. Panuke originally was estimated to hold 1 Tcf of gas and was expected to produce 400 MMcf/d.

Don’t hold your breath waiting for a revised plan from EnCana Corp. on its stalled Deep Panuke natural gas project offshore Nova Scotia. After notifying provincial authorities in December it would submit a new plan in six months, EnCana now estimates it could take up to a year as it works on ways to make the offshore discovery economical. Panuke originally was estimated to hold 1 Tcf of gas and was expected to produce 400 MMcf/d.

The waiting for the other shoe to drop regarding Nicor Energy LLC is over as rumors of fraudulent accounting, which have been swirling since last year, have turned into suits filed by the Securities and Exchange Commission (SEC) and the U.S. Attorney for the Northern District of Illinois.

The waiting for the other shoe to drop regarding Nicor Energy LLC is over as rumors of fraudulent accounting that have been swirling since last year have turned into suits filed by the Securities and Exchange Commission (SEC) and the U.S. Attorney for the Northern District of Illinois.

Entergy Corp. remains on the prowl for energy-related assets to buy, a top official with the utility said last week, but it remains frustrated with the asking price for those assets. Echoing comments recently made by another utility executive, Entergy CEO Wayne Leonard said that the recent wave of generator bankruptcies may result in more realistic prices for such things as power plants.

After waiting more than two years, the National Transportation Safety Board (NTSB) is scheduled to disclose Tuesday the results of its investigation into the cause of the explosion on the El Paso Natural Gas South Mainline system in New Mexico that killed 12 members of an extended family in August 2000.

After waiting more than two years, the National Transportation Safety Board (NTSB) is expected to release its final report next week on the cause of the explosion on the El Paso Natural Gas South Mainline system in New Mexico that killed 12 members of an extended family in August 2000.

Category 2 Hurricane Isidore left the gas market playing all sorts of guessing games going into the weekend. However, most of the storm’s price-boosting impact appeared to have been spent in the eastern gains of nearly half a dollar over the previous two days. Friday’s small gains at Northeast citygates and some Gulf Coast points were greatly outweighed by flat to slightly lower numbers at other Gulf Coast points and larger losses throughout nearly all of the Midcontinent/Midwest and West.

As Gulf of Mexico producers played the waiting game with what was then still Tropical Storm Isidore, nearly all points were united in upward movement Thursday, with flatness at El Paso-Permian and a few Northeast citygates as the exception. Especially in the East, gains were considerably smaller than Wednesday’s spikes; the overall range Thursday tended to be from about a nickel to 15 cents.