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Welcome to GasNewsOnline.com! This site provides concise and relevant publicly-sourced news and information related to the ever-changing conditions in the natural gas industry. Informational postings from natural gas pipeline electronic bulletin boards will be reviewed so that you may learn more about critical information on the pipelines which may affect your business. GasNewsOnline.com provides news from key energy industry participants as it becomes public. Every post will feature the upcoming week's temperature forecasts courtesy of the U.S. National Weather Service. GasNewsOnline.com brings you all of this timely information - for FREE!

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    • Wirtschaftsnachrichten

Welcome to GasNewsOnline.com! This site provides concise and relevant publicly-sourced news and information related to the ever-changing conditions in the natural gas industry. Informational postings from natural gas pipeline electronic bulletin boards will be reviewed so that you may learn more about critical information on the pipelines which may affect your business. GasNewsOnline.com provides news from key energy industry participants as it becomes public. Every post will feature the upcoming week's temperature forecasts courtesy of the U.S. National Weather Service. GasNewsOnline.com brings you all of this timely information - for FREE!

    Monday, May 20, 2019

    Monday, May 20, 2019

    Welcome to GasNewsOnline.com!  As severe weather pounds the plains of Oklahoma and Texas again today, spot natural gas prices are rebounding slightly in advance of June’s NYMEX close. 







    Today, we’ll also review the latest interstate pipeline company critical notices plus provide an update on latest energy news and give you the latest National Weather Service temperature forecast for the month of June, too.







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    At the New York Mercantile Exchange

    (Nymex) today, the price of the June 2019 contract increased by nearly four

    cents to about $2.67/MMBtu on Monday.  The

    price of the 12-month strip averaging June 2019 through May 2020 futures

    contracts has gained about six cents the past week to nearly $2.81/MMBtu. 







    From the US Energy Information Administration’s “Natural Gas Weekly Update” publication…







    Net injections to working gas totaled

    106 billion cubic feet (Bcf) for the week ending May 10. Working natural gas

    stocks are 1.653 Tcf, which is 15% lower than the five-year (2014–18) average

    for this week.







    The natural gas plant liquids composite

    price at Mont Belvieu, Texas, rose by five cents, averaging $5.73/MMBtu for the

    week ending May 15. The price of ethane and natural

    gasoline fell by 2% and 1%, respectively. The price of propane, isobutane, and

    butane rose by 3%, 2%, and 1%, respectively.







    According to Baker Hughes, for the week ending Tuesday, May 7, the natural gas rig count remained flat at 183. The number of oil-directed rigs fell by 2 to 805. The total rig count decreased by 2, and it now stands at 988.







    ********************







    Global investment firm KKR and Western Natural Resources, LLC (“Western”) today announced a new partnership to acquire producing and undeveloped oil and gas assets in the Williston Basin.







    Western’s

    CEO Heath Mireles and his team bring extensive operating experience to the

    partnership, having drilled, completed and operated thousands of wells over the

    Williston Basin’s long history. The Western team will leverage their collective

    experiences from time spent at large public operators as well as other private

    companies to acquire, manage and develop producing wells and drilling locations

    throughout the play.







    Ben

    Conner, Director on KKR’s Energy Real Assets team, said, “The Williston

    continues to be a core area of focus for us as we see a significant opportunity

    to acquire high quality producing assets with attractive long-term value

    creation opportunities to be delivered through superior technical and

    operational execution. We have known Heath and members of his team for years

    and believe our partnership is well positioned to acquire and manage assets in

    the Williston for the long run.”







    Western is a private company focused on the acquisition and exploitation of upstream oil and gas assets. Headquartered in Oklahoma City, Oklahoma, its primary objective is to build and operate a large-scale portfolio of producing oil and gas wells and drilling locations in the Williston Basin.







    ********************







    Today, NRG Energy, Inc. agreed to acquire Dallas-based Stream Energy’s retail electricity and natural gas business for $300 million plus worki...

    • 7 Min.
    Thursday, May 16, 2019

    Thursday, May 16, 2019

    Welcome to GasNewsOnline.com!  We always review the country’s interstate natural gas pipeline companies for their most recent critical postings and bring you information about changes in pipeline operating conditions. 







    Plus, we will update you on the latest publicly released news from major energy companies and provide the extended temperature forecast for the next few weeks from the National Weather Service, too.  







    ********************







    From the US Energy Information Administration, working gas in storage was estimated at 1,653 Bcf as of Friday, May 10, 2019. This represents a net increase of 106 Bcf from the previous week.







    Stocks were 130 Bcf higher than last year at this time and 286 Bcf below the five-year average of 1,939 Bcf. At 1,653 Bcf, total working gas is within the five-year historical range.







    ********************







    OG& E Chairman, President and CEO Sean Trauschke today told the company’s shareholders that the company is “strong and built for the long term.” Speaking at the company’s annual meeting, Trauschke said he was pleased with the performance of OG&E, Oklahoma’s largest investor-owned utility, and Enable Midstream, in which the company owns interest, as both had contributed to the company’s ability to invest in its customers, and maintain utility rates that are 31 percent below the national average.







    “2018

    will be the benchmark the company uses to gauge future performance. OG&E completed its largest

    ever investment program, wrapping up more than $6 billion of infrastructure

    investment since 2011, on time, under budget and while receiving recognition as

    the safest utility in the Southeastern Electric Exchange,” Trauschke said.

    “At Enable, we’re seeing continued solid operational and financial results, while volumes

    are increasing across all of their business segments.”







    Looking

    ahead, he said the company will continue to focus on growing the business

    through an enhanced customer experience at affordable rates. “The new

    assets we’ve put into operation have increased fleet resiliency for customer

    benefit. We will continue to leverage our smart meters and technology that

    increases reliability and reduces outage response and restoration times.”







    OGE Energy is the parent company of Oklahoma Gas and Electric Company, a regulated electric utility serving approximately 852,000 customers in Oklahoma and western Arkansas. In addition, OGE holds a 25.5 percent limited partner interest and a 50 percent general partner interest of Enable Midstream Partners, LP.







    ********************







    On Tuesday, Sempra Energy celebrated the completion of construction of Train 1 of the Cameron LNG export project in Hackberry, La., with a group of international, federal, state and local officials, including the U.S. president and members of the U.S. administration. The celebratory visit coincided with today’s announcement that Cameron LNG is producing liquefied natural gas (LNG) from the first liquefaction train of the three-train facility, a major commissioning milestone.







    Sempra Energy set a goal in 2018 to

    become the largest developer of North American LNG export infrastructure,

    • 6 Min.
    Monday, May 13, 2019

    Monday, May 13, 2019

    Welcome to GasNewsOnline.com.  A variety of springtime weather conditions has caused a late season snowfall in the Rockies and northern tier of states while a large area of severe weather and flooding caused issues in the South.  Meanwhile, spot natural gas prices seem to be stuck in neutral as we start the new week.   







    Today, we’ll also review the latest interstate pipeline company critical notices, provide an update on latest energy news, and cover the latest National Weather Service temperature forecast into late May, too.







    ********************







    From the US Energy Information Administration’s “Natural Gas Weekly Update” publication:







    Net injections to working gas totaled

    85 billion cubic feet (Bcf) for the week ending May 3. Working natural gas

    stocks are 1.547 Tcf, which is 16% lower than the five-year (2014–18) average

    for this week.







    At the New York Mercantile Exchange

    (Nymex), the price of the June 2019 contract was nearly static at $2.62/MMBtu

    on Monday.  The price of the 12-month

    strip averaging June 2019 through May 2020 futures contracts is now about $2.75/MMBtu.









    Strong natural gas production, as well

    as rapidly-rising demand, resulted in record-high production of natural gas

    plant liquids, which reached 4.7 million barrels per day (b/d) in February

    2019. Growth in natural gas plant liquids production was led by ethane, which

    was nearly 130,000 barrels per day (b/d) higher than in the previous month.







    The natural gas plant liquids composite

    price at Mont Belvieu, Texas, fell by 43¢/MMBtu, averaging $5.69/MMBtu for the

    week ending May 8. The price of natural gasoline, ethane, propane, butane, and

    isobutane all fell, by 2%, 5%, 8%, 12%, and 13%, respectively.







    According to Baker Hughes, for the week ending Tuesday, April 30, the natural gas rig count decreased by three to 183. The number of oil-directed rigs rose by two to 807. The total rig count decreased by one and now stands at 990.







    ********************







    OG&E, a subsidiary of Oklahoma City-based OGE Energy Corp., announced that the Oklahoma Corporation Commission (OCC) today unanimously approved the company’s preapproval application to acquire the AES Shady Point plant near Poteau, Oklahoma, and the Oklahoma Cogeneration LLC facility in Oklahoma City.







    The company,

    which filed its preapproval request in December 2018, is expected to pay approximately $53 million for

    the two plants – both of which have served OG&E customers for several

    decades under federally mandated power purchase agreements.







    “These

    acquisitions create a win-win on multiple fronts,” said OG&E spokesman

    Brian Alford. “Our customers will save tens of millions of dollars each

    year by eliminating costly, federally mandated agreements. The Shady Point acquisition will

    help maintain grid stability as growth continues in eastern Oklahoma and

    western Arkansas. It also ensures many jobs will be preserved in an

    economically challenged region. The Oklahoma Cogen acquisition will help ensure the facility’s

    natural-gas-fired capacity will continue to support reliability and resiliency

    in the ever-growing Oklahoma City-metro area. And, we’ll see a further

    reduction in power plant air emissions as a result of the acquisitions.”







    Shady Point has a generation capacity of 360MW and Oklahoma Cogeneration has a capacity of 146MW.

    • 6 Min.
    Thursday, May 9, 2019

    Thursday, May 9, 2019

    Welcome to GasNewsOnline.com!  We check the country’s interstate natural gas pipeline companies for their most recent critical postings and bring you information about significant changes in pipeline operating conditions prior to this Mother’s Day weekend.







    Today, we will also update you on the latest publicly released news about one of Anadarko Petroleum‘s suitors. Plus, we’ll give you the extended temperature forecast through May 19 from the National Weather Service, too.  







    ********************







    From the US Energy Information Administration, working natural gas in storage was 1.547 Tcf as of Friday, May 3, 2019.  This represents a net increase of 85 Bcf from the previous week.







    Natural gas in storage is now 16% below

    the five-year historical average.







    On the New York Mercantile Exchange, the natural gas futures price for June, 2019 was down more than three cents on Thursday to finish at about $2.57/MMBtu. 







    ********************







    Chevron Corporation announced today that, under the terms of its previously announced Merger Agreement with Anadarko Petroleum Corporation, it will not make a counterproposal and will allow the four-day match period to expire.  Accordingly, Chevron anticipates that Anadarko will terminate the Merger Agreement.







    Chevron’s Chairman and CEO Michael

    Wirth said, “Winning in any environment doesn’t mean winning at any cost. Cost

    and capital discipline always matter, and we will not dilute our returns or

    erode value for our shareholders for the sake of doing a deal. Our advantaged

    portfolio is driving robust production and cash flow growth, higher investment

    returns and lower execution risk. We are well positioned to deliver superior

    value creation for our shareholders.”







    Upon termination of the Merger Agreement, Anadarko will be required to pay Chevron a termination fee of $1 billion.







    Earlier this week, Anadarko’s Board of Directors deemed a revised offer from Occidental Petroleum Corporation as a “Superior Proposal” and plans to move ahead with the OXY offer.







    ********************















    On Wednesday, Marathon Petroleum Corporation and midstream affiliates MPLX LP and Andeavor Logistics LP announced that the two midstream companies have entered into a definitive merger agreement whereby MPLX will acquire Andeavor in a unit-for-unit transaction at a blended exchange ratio of 1.07x. This represents an equity value of approximately $9 billion and an enterprise value of $14 billion for the acquired entity. The transaction has been unanimously approved by MPLX’s and ANDX’s respective Conflicts Committees and both Boards of Directors. Subject to the satisfaction of customary closing conditions and receipt of regulatory approvals, the transaction is expected to close in the second half of 2019.







    Under

    the terms of the merger agreement, ANDX public unitholders will receive 1.135x

    MPLX common units for each ANDX common unit held, representing a premium of

    7.3%, and MPC will receive 1.0328x MPLX common units for each ANDX common unit

    held, representing a 2.4% discount. The blended exchange ratio of 1.07x

    • 7 Min.
    Monday, May 6, 2019

    Monday, May 6, 2019

    Welcome to GasNewsOnline.com! The battle for control of Anadarko Petroleum has taken another step as one of the suitors has sweetened the pot on Sunday! 







    Meanwhile, a variety of springtime

    temperatures (some cool and others quite warm) have continued to depress the

    natural gas prices again as we start the week. 

      







    We’ll check the latest interstate pipeline company critical notices plus an update on latest energy news and temperature forecasts into the middle of May, too.







    ********************







    At the NYMEX, the June 2019 contract closed at about $2.53/MMBtu, down 4¢ from Friday. The price of the 12-month strip averaging June 2019 through May 2020 futures contracts has dropped 6¢ over the past week to about $2.67/MMBtu on Monday.







    From the US Energy Information Administration’s “Natural Gas Weekly Update” publication, net injections to working gas in storage totaled 123 billion cubic feet (Bcf) for the week ending April 26. Volumes in storage are currently 1.462 Tcf, which is 18% lower than the five-year (2014–18) average for this week.







    The natural gas plant liquids composite price at Mont Belvieu, Texas, fell by 1¢, averaging $6.11/MMBtu for the week ending May 1. The price of isobutane, natural gasoline, and butane fell by 1%, 2%, and 3% respectively. The price of propane rose by 2%. The price of ethane remained flat week over week.







    According to Baker Hughes, for the week ending Tuesday, April 23, the natural gas rig count decreased by 1 to 186. The number of oil-directed rigs fell by 20 to 805. The total rig count decreased by 21, and it now stands at 991.







    ********************







    On Sunday, Occidental Petroleum Corporation delivered a letter to the Board of Directors of Anadarko Petroleum Corporation setting forth the terms of a revised and significantly enhanced superior proposal to acquire Anadarko for $76.00 per share comprised of $59.00 in cash and 0.2934 shares of Occidental common stock per share of Anadarko common stock.







    The

    revised proposal, which has been unanimously approved by the Occidental Board

    of Directors, represents a premium of approximately 23.3% to the $61.62 per

    share value of Chevron’s pending offer as of market close on May 3, 2019.







    On

    April 29, 2019, Anadarko announced its Board of Directors had determined that

    Occidental’s prior proposal, made on April 24, could reasonably be expected to

    result in a “Superior Proposal”, and the two companies have engaged since that

    determination.







    Occidental’s President and CEO, Vicki Hollub, said, “We firmly believe that Occidental is uniquely positioned to drive significant value and growth from Anadarko’s highly complementary asset portfolio. This combination will create a global energy leader with the scale and geographic diversification to drive compelling returns to the shareholders of both companies,” she added.







    ********************







    Williams reported Friday that the Federal Energy Regulatory Commission (FERC) has issued a certificate of public convenience and necessity authorizing the Northeast Supply Enhancement project – an expansion of the existing Transco natural gas pipeline designed to serve New York markets in time for the 2020/2021 winter heating season.

    • 7 Min.
    Thursday, May 2, 2019

    Thursday, May 2, 2019

    Welcome to GasNewsOnline.com!  We always review the country’s interstate natural gas pipeline companies for their most recent critical postings and bring you information about changes in pipeline operating conditions. 







    Plus, we will update you on the latest publicly released news from major energy companies and, with golf weather covering most of the country, provide the extended temperature forecast for the next few weeks from the National Weather Service, too.  







    ********************







    According to the US Energy Information Administration, working gas in storage was 1.462 Tcf as of Friday, April 26, 2019. This represents a net increase of 123 Bcf from the previous week.







    Natural gas in storage is now 316 Bcf (approximately 18%) below the five-year average.







    ********************







    NRG Energy, Inc. expects to return to service its inactive 385 MW Gregory natural gas plant in Corpus Christi, Texas. The Gregory plant ceased operations in late 2016 when its cogeneration partner, Sherwin Alumina, filed for bankruptcy and discontinued operations. Following resolution of certain issues resulting from the Sherwin Alumina bankruptcy, the Gregory plant is expected to return to service as a combined cycle facility in early June 2019.







    “I

    am pleased to announce the return to service of this highly efficient natural

    gas plant,” said Mauricio Gutierrez, President and CEO of NRG. “The Public

    Utility Commission of Texas’ recent actions to further strengthen the ERCOT

    market reinforced our decision to return Gregory to service ahead of summer,

    providing additional reliability to our customers and Texas’ growing economy.”







    At full power, the Gregory plant can meet the needs of approximately 77,000 homes on the hottest days of the year.







    ********************







    Despite warmer weather across much of the United States, there are still several critical postings coming from the electronic bulletin boards of the major interstate natural gas pipeline transporters. Let’s review the latest news:







    Algonquin Gas Transmission:







    In order to maintain the operational integrity of the system, Algonquin Gas Transmission, LLC (AGT) is issuing an Operational Flow Order (OFO) pursuant to Section 26 of the General Terms and Conditions of AGT’s FERC Gas Tariff effective 9:00 AM CCT, May 2, 2019, to all parties, with the exception of those Operational Balancing Agreements required by FERC regulations, on the AGT system. This OFO does not affect the ability of AGT to receive or deliver quantities of gas for scheduled nominations to any customer or pipeline. During the effectiveness of this OFO, all parties must be balanced such that actual deliveries of gas out of the system must be equal to or less than scheduled deliveries. The penalty shall apply to each dekatherm of actual delivery quantities that exceeds the greater of 4,000 Dth or 104% of scheduled delivery quantities. The penalty will be equal to three times the daily Platts Gas Daily “Daily Price Survey” posting for the High Common price for “Algonquin, city-gates” for the day on which such violation occurred as indicated in AGT’s General Terms and Conditions Section 26.8. In addition, AGT will not permit retroactive nominations to avoid an OFO penalty. AGT may be required to issue an hourly OFO pursuant to General Terms and Conditions Section 26.7(d) to impose further restrictions in order to maintain the operational integrity of the system.

    • 6 Min.

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