Widening

Traders Mull Near-Term Weakness, Longer-Term Strength

October natural gas trudged lower Friday as traders see widening differentials auguring further weakness. October fell 6.9 cents to $3.809 and November dropped 5.9 cents to $3.922. October crude oil shed $1.44 to $87.96/bbl.

September 19, 2011

California Gov. Again Looks Offshore for Budget Relief

Faced with a widening budget deficit that some analysts place above $20 billion in the new year, California Gov. Arnold Schwarzenegger indicated that he is revisiting a proposal to expand offshore drilling in order to generate more than $200 million of revenues. A proposal to open drilling offshore Santa Barbara County early in 2009 was rejected by the State Lands Commission.

January 4, 2010

California Governor Turns Again to Offshore Drilling for Budget Relief

Faced with a widening budget deficit that some analysts place above $20 billion, California Gov. Arnold Schwarzenegger is revisiting a proposal to expand offshore drilling in order to generate more than $200 million of revenues. A proposal to open drilling offshore Santa Barbara County earlier this year was rejected by the State Lands Commission (see Daily GPI, Feb. 2).

December 29, 2009

Facing ‘Ugly Basis Differentials,’ Some Rockies Producers Cut Output

Rocky Mountain producers, facing ever-widening basis differentials, are cutting back on natural gas production due to a lack of immediate demand, as well as a deficit of storage facilities and takeaway capacity in the region, according to a veteran energy analyst. But most are seeing it as a short term phenomenum.

September 10, 2007

Facing ‘Ugly Basis Differentials,’ Some Rockies Producers Cut Output

Rocky Mountain producers, facing ever-widening basis differentials, are cutting back on natural gas production due to a lack of immediate demand, as well as a deficit of storage facilities and takeaway capacity in the region, a veteran energy analyst says.

September 7, 2007

NEB Says Gas Export Capacity Adequate Despite Oil Conversion

Canada will have enough spare natural gas export capacity to cover for another North American natural supply emergency like the 2005 hurricane season in the Gulf of Mexico, even if a proposed pipeline conversion to oil service goes ahead, the National Energy Board (NEB) says.

February 19, 2007

Rockies Face Challenge Keeping Pipe Additions on Pace with Production Growth

Producers in the Rocky Mountain region could be facing that age-old problem of inadequate pipeline takeaway capacity and widening basis later this year as production continues to grow at a rapid pace, according to Golden, CO-based consulting firm Bentek Energy.

February 1, 2006

Wide, Volatile Midcontinent Basis Market Expected to Continue

There are growing market concerns about widening and volatile Midcontinent basis and the likelihood that it will get worse as more gas flows East from the Rockies. The situation was largely created by unexpected production growth (or absence of declines) in Midcontinent producing basins and pipeline constraints downstream of the new Cheyenne Plains pipeline system, according to data from Denver-based consulting firm Bentek Energy. Other events on the horizon could make it even worse.

July 22, 2005

EnCana Reports Net Loss Despite Hike in Operating Earnings, High Gas, Liquids Prices

Against an industry backdrop of widening oil price differentials and rising operating costs, Calgary-based EnCana Corp. on Wednesday reported a net loss due to mark-to-market accounting, despite a 34% jump in operating earnings and a 46% boost in total cash flow, compared to results in the first quarter last year. Operating earnings were $611 million, or $1.34/share, and total cash flow was $1.41 billion, or $3.11/share. These are U.S. dollar figures, the company said.

April 28, 2005

With Capacity Full, WIC Eyes Widening Scope of Piceance Lateral Project

Wyoming Interstate Co. (WIC), a pipeline subsidiary of El Paso Corp., said Thursday it has received binding bids for 350,000 Dth/d of transportation capacity on its proposed Piceance Lateral expansion project as part of a recent open season, and is seeking to determine whether there is additional shipper interest that would warrant increasing the scope of the project.

July 26, 2004
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