Feeding off bullish weather forecasts, the natural gas futuresmarket snapped back yesterday as local and fund traders added totheir growing long positions. That enabled the November contract toerase Thursday’s 13.6-cent downward retracement and retest the$3.00 level in active, pre-weekend dealings. The prompt monthfinished strongly and closed at $2.975, a 14.1-cent advance on theday.
Work
Articles from Work
Sour Gas Drilling Near Calgary Approved
At the cost of a long fight and new orders to work overtime onimproving their community relations, Canadian producers have won avictory preserving access to a major drilling target: “sour”natural gas, laced with lethal hydrogen-sulphide.
Aquila Disbands its Industrial Sales Team
In a move to improve organization and reduce overlap, AquilaEnergy laid off all 34 members of its industrial gas sales team.Their work will be picked up by Aquila’s commercial gas sales team,located in Columbus, OH.
Sour Gas Drilling Near Calgary Approved
At the cost of a long fight and new orders to work overtime onimproving their community relations, Canadian producers have won avictory preserving access to a major drilling target: “sour”natural gas, laced with lethal hydrogen-sulphide.
Kern River Puts Expansion on Hold
While Questar continues preliminary work on its California-boundmainline, Kern River Pipeline has put its plans to run a newlarge-diameter pipeline into Southern California on hold, awaitingregulatory action from the dilatory California Public UtilitiesCommission.
Kern River Puts Expansion on Hold
While Questar continues preliminary work on its California-boundmainline, Kern River Pipeline has put its plans to run a newlarge-diameter pipeline into Southern California on hold, awaitingregulatory action from the dilatory California Public UtilitiesCommission.
Transportation Notes
Tennessee said Monday rehab work on the Sun Lateral in westernLouisiana will be completed ahead of schedule and it will resumetaking nominations at all Sun meters for Wednesday’s gas day. Thepipeline had earlier projected that the project would extend untilJuly 9 (see Daily GPI, June 22).
Transportation Notes
Algonquin has completed turbine replacement at the Burrillville(RI) Compressor Station. However, April 30-May 5 work on the30-inch mainline will limit Burrillville throughput to 400,000Dth/d, the pipeline said.
Joint Ventures Work Together In $1.2 B GOM Project
East Breaks Gathering Co., a new joint venture between LeviathanGas Pipeline, ANR Pipeline Co., and Natural Gas Pipeline Co. ofAmerica, said last week it is taking part in a $1.2 billion Gulf ofMexico joint development project between Amoco and Exxon. EastBreaks has agreed to build, operate and service a new pipelineextending from Amoco and Exxon’s western Gulf facility to aninterconnect that feeds ANR’s pipeline. Construction of the newpipeline and the producer’s deep-water drilling facility isexpected to be finished in mid-2000. Estimated reserves in the areawere not disclosed.
BP Amoco Sets Reorganization, Job Cuts
Continuing to work through the monstrous merger completed amonth ago, BP Amoco centralized its power last week by choosing theWestlake complex in Houston as its exploration and productionheadquarters, then revealing a 1,400 person job cut at the complex.Company officials said the jobs were lost due to duplication andcommodity price reasons. Overall, BP Amoco plans to lay off 1,600workers in Texas by the end of the first quarter.