BHP Billiton Ltd.’s recent announcement of a $2.8B charge for the diminished value of its dry gas Fayetteville Shale assets (see Shale Daily, Aug. 7) wasn’t the only bad shale-related news to come from the Australian company. Its Petrohawk Energy Corp. unit has been turning in sour numbers as well.
Wasn
Articles from Wasn
Sabine Liquefaction Advancing, But Cheniere Reports Losses
Sabine Pass Liquefaction LLC made “significant progress” on its liquefied natural gas (LNG) terminal project in 2011, but that wasn’t enough to keep red ink from marring Cheniere Energy Inc.’s bottom line, the company said Friday.
Most Weekend Prices Continue Declines
It wasn’t surprising to see a majority of points softening again Friday as weather continued to be milder than in most winters and the weekend was taking a bite out of industrial demand. What may have been a bit surprising to some was that quite a few locations were flat or managed to rack up small gains to keep mixed price movement in play.
Screen, Potential New Storm Boost Prices Slightly
Hot weather wasn’t much of a factor in Wednesday’s market as forecast peaks in the mid 90s or higher remain confined to parts of South Texas, the desert Southwest and inland California. Otherwise moderate to cool or chilly conditions dominate the rest of the North American outlook.
Market Mostly Softer Again; Irene Havoc Shy of Expectations
It wasn’t as bad as it might have been. That was the most optimistic assessment of Hurricane Irene’s (gradually being downgraded) weekend cruise along the Atlantic Seaboard. Most points continued to weaken a bit Monday as the impact of lost power generation load along the East Coast was being felt, but residual pockets of high heat resulted in quite a few flat to higher numbers.
Shippers Blame Columbia for System’s Congestion
It wasn’t the overload of Marcellus Shale supplies, but poor planning by Columbia Gas Transmission LLC that “may have created or contributed” to the storage constraints on its system in northern Ohio, Indicated Shippers said in a protest to the pipeline request for a tariff increase.
Indicated Shippers Protest Columbia’s Proposal to Resolve Congestion
It wasn’t the overload of Marcellus Shale supplies, but poor planning by Columbia Gas Transmission LLC that “may have created or contributed” to the storage constraints on its system in northern Ohio, Indicated Shippers said in a protest to the pipeline request for a tariff increase.
Weather, Futures Spur Gains at Most Points
It wasn’t a complete upturn, but the hints in the previous day’s market that a lessening of overall weakness might lead to a general rally Thursday came to fruition. Abetted by the May futures increase of 9.2 cents Wednesday and a rather slow easing of cold weather in much of the northern U.S. and Canada, a mixed market saw gains outnumbering losses.
Cold-Induced Rally Proves Short-Lived — Again
Except for an enclave of still-rising points in the New England market, the latest cold spell wasn’t any more successful in sustaining a price rally than others in recent weeks have been. Modest warming trends in the Midwest and lower Northeast/Mid-Atlantic, along with a plunge of 20.6 cents by December futures a day earlier, pushed a large majority of points lower by double-digit amounts Tuesday.
Weak Gas Prices Fail to Slow Marcellus Producers, Says Williams
Activity in the Marcellus Shale hasn’t declined even in the face of weak natural gas prices, a Williams Cos. executive said Thursday.