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Oil and natural gas prices weren’t quite high enough to help El Paso Corp. overcome a significant production cut earlier this year, and the Houston-based company reported a significant third quarter loss last week. The company posted a loss of $214 million (minus 33 cents/share), compared with a profit of $24 million (4 cents) for the same period of 2003. Reported revenue for 3Q2004 was $1.43 billion, compared with $1.71 billion a year ago.

Oil and natural gas prices weren’t quite high enough to help El Paso overcome a significant production cut. The company posted a 3Q loss of $214 million (minus 33 cents/share), compared with a profit of $24 million (4 cents) for the same period of 2003. Reported revenue for 3Q2004 was $1.43 billion, compared with $1.71 billion a year ago.

In trading for April Fool’s Day flows, cash prices weren’t joking around. Except for some close-to-flat Rockies points, Wednesday’s quotes for the start of the April aftermarket continued to post substantial double-digit gains that were larger than Tuesday’s end-of-March upticks in many cases. Non-Rockies points rose anywhere from about 15 cents to 35 cents.

This past winter’s natural gas and gasoline wholesale price spikes were not the result of manipulation but rather primarily a reaction to changes in the weather, according to the latest monthly tracking report released by California’s two major energy agencies Tuesday. The California Energy Commission and California Public Utilities Commission completed investigations this spring at the behest of the governor.

This past winter’s natural gas and gasoline wholesale price spikes were not the result of manipulation but rather primarily a reaction to changes in the weather, according to the latest monthly tracking report released by California’s two major energy agencies Tuesday. The California Energy Commission and California Public Utilities Commission completed investigations this spring at the behest of the governor.

The biggest issue in natural gas price reporting today is the lack of liquidity, or low level of fixed price trading in the monthly market due mainly to the loss of the middleman marketers, price survey publishers told attendees at GasMart/Power 2003 Wednesday.

Higher production volumes weren’t enough to halt the earnings decline stemming from substantially reduced prices among independent oil and gas producers in the third quarter, according to Energy Performance Review, which maintains a line-of-business financial and operating database.

Key Senate members of the Florida delegation weren’t ready to declare a full victory after the Bush administration, in a compromise gesture earlier this week, significantly scaled back plans to allow oil and natural gas drilling in the eastern Gulf of Mexico.

If Transcontinental Gas Pipe Line Corp.’s first two projects this week weren’t enough, another one is on the way. A day after filing two new expansions with FERC, one of which is the largest in the pipeline’s history, Transco said yesterday it is holding an open season for firm transportation service from Station 65 in Louisiana to Station 165 in Pittsylvania County, VA.