Warned

Swift Energy Co. warned investors Friday that its first quarter production will be lower than expected because of the shut down of a third-party gas pipeline downstream of its Lake Washington Field. The damaged pipeline has forced Swift to reduce production to minimize flaring of gas production that would normally be transported through the pipeline.

As it had warned might be necessary (see Daily GPI, Oct. 29), Sonat issued an OFO Type 6 that took effect Saturday until further notice. Tiered penalties ranging from $1/Dth to $15/Dth were to be applied for positive daily imbalances exceeding 200 dekatherms or a 2% tolerance. Sonat said it would be force balancing during the OFO.

As it had warned might be necessary (see Daily GPI, Oct. 29), Sonat issued an OFO Type 6 that took effect Saturday until further notice. Tiered penalties ranging from $1/Dth to $15/Dth were to be applied for positive daily imbalances exceeding 200 dekatherms or a 2% tolerance. Sonat said it would be force balancing during the OFO.

Houston-based independent Spinnaker Exploration Co. warned Friday that Hurricane Ivan and weather-related production curtailments in the Gulf of Mexico will slightly reduce forecasted 3Q oil and natural gas production, and also weigh on quarterly earnings.

Las Vegas-based Southwest Gas Corp. Wednesday warned its customers in the northern half of Nevada about potentially high retail gas rates this winter. The gas-only distribution utility attributed the higher gas costs principally to the fact that wholesale gas demand is growing faster than new supplies, keeping the prices at historically high levels. The utility, which also has gas utility operations in California and Arizona, said it expects bills for the average residential customer using 96 therms to climb from $86 last December 2003 to $122 this December. The figures include a pending increase now before the Public Utilities Commission of Nevada.

Houston-based independent Spinnaker Exploration Co. warned Friday that Hurricane Ivan and weather-related production curtailments in the Gulf of Mexico will slightly reduce forecasted 3Q oil and natural gas production, and also weigh on quarterly earnings.

Las Vegas-based Southwest Gas Corp. Wednesday warned its customers in the northern half of Nevada about potentially high retail gas rates this winter. The gas-only distribution utility attributed the higher gas costs principally to the fact that wholesale gas demand is growing faster than new supplies, keeping the prices at historically high levels. The utility, which also has gas utility operations in California and Arizona, said it expects bills for the average residential customer using 96 therms to climb from $86 last December 2003 to $122 this December. The figures include a pending increase now before the Public Utilities Commission of Nevada.

Exploration and production companies warned Alaska state officials at the Anchorage Chamber of Commerce last week that stricter regulations and possibly higher taxes could threaten many producers’ exploration and production plans. Their comments precede a legislative special session scheduled this week to work on a proposed fiscal plan to offset state deficits.

Exploration and production companies have warned Alaska state officials at the Anchorage Chamber of Commerce this week that stricter regulations and possibly higher taxes could threaten many producers’ exploration and production plans. Their comments precede a legislative special session next week to work on a proposed fiscal plan to offset state deficits.