Wave

There will be one less Canadian pipeline construction contractor when the next wave of projects emerges, and the sudden death of Marine Pipeline Construction Co. is being seen as a lesson in hazards of trying to operate in the field on a continental scale.

There will be one less Canadian pipeline construction contractor when the next wave of projects emerges, and the sudden death of Marine Pipeline Construction Co. that caused the gap is being seen as a lesson in hazards of trying to operate in the field on a continental scale.

A full-fledged heat wave across the southern tier of states, getting a modest assist from the previous day’s screen rise, turned the cash market around Wednesday for a mostly mild rally. Even with slight cool downs due Thursday in the Rockies, conditions will remain hot enough that most of the largest gains were recorded in the West.

Ever since Enron crashed and a wave of related negative events came down on the gas industry, there have been concerns about the health and even the fate of the gas spot market. But trying to take the spot market’s pulse isn’t easy. In fact to do it with any accuracy is darn near impossible, according to several market experts.

Ever since Enron crashed and a wave of related negative events came down on the gas industry, there have been concerns about the health and even the fate of the gas spot market. But trying to take the spot market’s pulse isn’t easy. In fact to do it with any accuracy is darn near impossible, according to several market experts.

Riding the wave of higher prices and increased overseas production, Unocal Corp. Tuesday reported 2003 unaudited net earnings of $643 million, or $2.46 per share, nearly doubling the $331 million, or $1.34 per share recorded for 2002. The company also logged a 79% increase in 4Q2003 results, posting preliminary net earnings of $180 million, or 68 cents per share.

A cold wave had almost completed its domination of the national weather picture, leaving only a sliver of the South from North Carolina through South Texas — along with parts of the desert Southwest — still experiencing highs in the 70s. The widespread heating load, augmented by residual support from Wednesday’s energy futures spikes, kept cash prices on the rise Thursday.

Riding the wave of strong growth in operating income from the company’s diversified energy businesses, a return to more normal weather in its gas distribution business and lower interest expense, Chicago-based Peoples Energy on Friday announced sharply higher fiscal year 2003 results compared to fiscal 2002.

Capping a tumultuous week of trading, the natural gas futures market rose Friday as a wave of weather-related short-covering boosted prices throughout the morning. Only modest softening was seen in light afternoon trading, leaving the November contract to close at $4.767, up 8.1 cents on the day.