Warnings

Tennessee will implement Imbalance Warnings in downstream market-area Zones 5 and 6 Saturday, saying it has limited operational flexibility to manage imbalances there over what is predicted to be a cold long holiday weekend. All delivery point operators in the zones will be required to keep actual daily takes out of the system equal to or less than scheduled quantities regardless of their cumulative imbalance position. Receipt point operators must keep actual daily receipts into the system equal to or greater than scheduled quantities regardless of their cumulative imbalance position.

The record-breaking drought gripping Texas has the state’s reservoir/aquifer managers eyeing water levels and issuing warnings. But lower water reserves apparently have not seriously affected oil and gas activities in the state, at least not yet.

The record-breaking drought gripping Texas has the state’s reservoir/aquifer managers eyeing water levels and issuing warnings. But lower water reserves apparently have not seriously affected oil and gas activities in the state, at least not yet.

Despite a mid-term outlook for mostly moderate temperatures in nearly all regions and warnings of excess supplies at some locations in the West, cash prices were higher at most points Monday. A return of freezing lows in the Rockies after a relatively mild weekend, along with temperatures dipping into the 30s in both the Northeast and Midwest, got a modest amount of support from industrial demand returning from its typical weekend hiatus in boosting cash quotes.

When there are freeze warnings across much of the South, you’ve got to figure the gas market is going to be at least somewhat bullish. Monday’s market was more than just “somewhat” bullish, posting solid double-digit gains across the board.

This week’s modest rise in cooling load was unable to counter the negative influences of a prior-day screen drop of 16 cents and continuing warnings of potential severe price weakness down the road due to rapidly dwindling storage injection capacity. The result was cash price declines across the board Tuesday.

Making good on its previous warnings to its shareholders, ConocoPhillips said Thursday that its 2Q2004 worldwide natural gas and crude oil production levels are expected to be lower than they were during 1Q2004.

Making good on its previous warnings to its shareholders, ConocoPhillips said last week that its 2Q2004 worldwide natural gas and crude oil production levels are expected to be lower than they were during 1Q2004.

Notwithstanding warnings from the administration and even stronger opposition from Canadian officials, Congressional conferees released a portion of energy bill draft language mandating a southern route through Alaska for a new Alaska natural gas pipeline.