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Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: enerfax@msn.com@ENRON X-To: EnerfaxGOLD@yahoogroups.com X-cc: X-bcc: X-Folder: \LBLAIR (Non-Privileged)\Blair, Lynn\Deleted Items X-Origin: Blair-L X-FileName: LBLAIR (Non-Privileged).pst Enerfax GOLD NORTH AMERICA'S FREE GAS, OIL, LIQUIDS & DERIVATIVES INFORMATION SOURCE Monday, November 26, 2001 No. 430 Visit our website at: http://www.enerfaxgold.com/, PETROLEUM PRICES | Bonny Light | $19.72 | Brent | $19.47 | Butane | $ 0.36 | Fuel Oil #2 | $ 0.52 | Louisiana | $19.20 | Medit. | $18.82 | Propane Non-tet | $ 0.31 | Propane Wet-tet | $ 0.31 | W. Tx Int Cush | $18.88 | W. Tx Sour | $16.70 | Euro in US equiv | 0.8783 -------------------------------------------------------- Todays Petro Bulletins * Canadian Energy Stocks Drop as Russia Stalls Cuts * Brazil Officials Assess Oil Spill in Scenic Rio Bay * Strike Forces Majors to Cut French Refinery Output * Halliburton Closes Deal to Acquire Magic Earth * Repsol and Hess Group Find Natural Gas and Condensate in Indonesia -------------------------------------------------------- ENERGYMARKS: Offering depth and breadth of transactional data, and uniquely positioned to create leading market indicators for fast-developing competition within North American Gas and Power markets. Available only through FAME Energy, your one-stop shopping for Energy software, analytics and data management solutions. Go to http://www.fame.com/energyMarketing/energyMarks.html for details. -------------------------------------------------------- NYMEX - NY Harbor Heating Oil Month High Low Last Change DEC 01 0.5480 0.5320 0.5342 -0.0034 JAN 02 0.5570 0.5420 0.5435 -0.0037 FEB 02 0.5600 0.5460 0.5485 -0.0032 MAR 02 0.5540 0.5410 0.5445 -0.0032 APR 02 0.5525 0.5450 0.5395 -0.0037 MAY 02 0.5460 0.5400 0.5335 -0.0042 JUN 02 0.5525 0.5420 0.5355 -0.0047 JUL 02 0.5575 0.5475 0.5420 -0.0047 AUG 02 0.5640 0.5560 0.5495 -0.0047 ------------------------------------------------------ NYMEX Crude Oil Futures ($ / Barrel) Month Open High Low Last Change DEC 01 17.15 18.10 16.70 17.72 -0.31 JAN 02 19.40 19.45 18.80 18.96 -0.19 FEB 02 19.55 19.65 19.05 19.19 -0.18 MAR 02 19.67 19.73 19.27 19.33 -0.18 APR 02 19.80 19.80 19.50 19.46 -0.40 MAY 02 19.85 19.85 19.60 19.59 -0.20 JUN 02 19.90 19.95 19.70 19.72 -0.34 JUL 02 20.10 20.05 19.80 19.83 -0.21 AUG 02 19.80 20.00 19.80 19.93 -0.21 SEP 02 20.20 20.20 20.05 20.03 -0.20 ---------------------------------------------------- Crude Oil Futures Fall on OPEC Stalemate with Russia Crude oil futures for January delivery on the NYMEX dipped $0.18 to $18.96 per barrel on Wednesday. Global oil prices climbed on Thursday after Russia indicated it was willing to make larger cuts than its previously announced 30,000 bpd. But on Friday, Russia said it would cut 50,000 bpd for the 4th quarter, but made no future commitments to curb production, which produced another drop in global oil prices. However, the former Soviet country said further cuts were possible before its December 10th deadline for setting next years production levels. Although, Russia's top economic advisor said that it would be ridiculous to try to lift oil prices when the world was entering a recession. In response to bulging crude oil inventories, plummeting demand and prices, OPEC was expected to cut production by up to 1.5 million bpd at its Vienna meeting last week, but instead said it will not make any cuts in production without a meaningful slice in Russian output. The cartel has sought cooperation from non- OPEC members, specifically Russia, Norway and Mexico to trim exports by a combined 500,000 bpd. So far, the organization has received pledges from Mexico and Norway to reduce production by 100,000 and 200,000 bpd respectively. December gasoline futures on the NYMEX fell 0.0008 to $0.5273 per gallon on Wednesday. Heating oil futures for December delivery on the NYMEX lost $0.0034 to $0.5342 per gallon. In London, Brent crude oil futures for January delivery climbed $1.17 to $19.90 per barrel on Thursday, but were down $0.62 to $19.28 per barrel on Friday. ---------------------------------------------------- Power Traders If you like tools, wouldn't it be nice to have one that makes you money? --Profit from Time2Trade(tm) Power Analysts If you like detail, wouldn't it be great to have it all? --AcuPower - Now with Trader & Analyst Consoles For a free trial go to http://www.capacitymap.com/ ------------------------------------------------------- NYMEX Henry Hub Natural Gas Futures 12 Month Strip 3.0382 -0.0777 18 Month Strip 3.1651 -0.0932 | Month | High | Low | Close | Change | | DEC | 2.880 | 2.735 | 2.813 | -0.039 | | JAN | 3.050 | 2.790 | 2.991 | -0.050 | | FEB | 3.090 | 3.000 | 3.036 | -0.045 | | MAR | 3.080 | 2.970 | 3.005 | -0.061 | | APR | 3.052 | 2.910 | 2.945 | -0.081 | | MAY | 3.060 | 2.960 | 2.983 | -0.085 | | JUN | 3.080 | 3.020 | 3.023 | -0.085 | | JUL | 3.120 | 3.090 | 3.060 | -0.086 | | AUG | 3.170 | 3.090 | 3.093 | -0.089 | | SEP | 3.180 | 3.100 | 3.095 | -0.099 | | OCT | 3.200 | 3.150 | 3.117 | -0.071 | | NOV | 3.390 | 3.330 | 3.297 | -0.109 | ---------------------------------------------------- Energy Releases Opt in Email has 9 times the response of regular mail and costs less than the postage. Have your press or news releases sent to over 50,000 energy professionals. For More Information Write Energyreleases@yahoo.com ---------------------------------------------------- LPG Unit at Texas Refinery Explodes Witnesses say a huge fire-ball erupted over the 100,000 bpd Crown Central Petroleum oil refinery in Pasadena, TX last Friday. Damage was limited to the liquefied petroleum gas unit where the explosion occurred. The privately held Crown Central said the blast occurred during early phases of a scheduled 4-week maintenance period at its Houston Ship Channel refinery. Although none of the refinery's other units seemed to have been damaged, the whole plant was closed down as a precautionary measure. ----------------------------------------------------- GET REAL about energy risk management with KWI In today's fast moving energy markets you need to be able to manage risk in real time. That means knowing before you hit a risk problem, not afterwards when it may be too late to prevent big losses spreading right through your enterprise. With kW3000(tm), our multi-commodity, integrated front to back office software, you can monitor your Profit At Risk(tm), counterparty risk and mark-to-market all in real time. Keep alert to risk. Do it in real time. Call KWI -http://www.kwi.com/ Americas: +1-281-681-3301 / Europe: +44 (0) 20-7386-2700 / Asia Pacific: +61(0) 2-9976-6111 ------------------------------------------------------- IPE-Brent Crude futures (US $/barrel) Month First High Low Sett Chg JAN 02 19.90 20.02 18.60 19.28 -0.62 FEB 02 19.90 19.95 18.58 19.23 -0.60 MAR 02 19.25 19.30 18.80 19.21 -0.55 APR 02 19.25 19.25 18.85 19.23 -0.53 MAY 02 18.88 19.15 18.88 19.30 -0.50 JUN 02 19.16 19.16 19.15 19.37 -0.48 JUL 02 19.25 19.34 19.25 19.44 -0.47 AUG 02 19.34 19.34 19.34 19.51 -0.46 SEP 02 00.00 00.00 00.00 19.58 -0.45 OCT 02 00.00 00.00 00.00 19.65 -0.44 ---------------------------------------------------------- NYMEX-Mont Belvieu Propane Gas Futures($ / Gallon) Month High Low Last Change DEC 01 0.3150 0.3125 0.3150 +0.0000 JAN 02 0.3200 0.3200 0.3200 +0.0000 FEB 02 0.3100 0.3060 0.3075 +0.0000 MAR 02 0.2875 0.2875 0.2875 +0.0000 APR 02 0.3925 0.3925 0.2925 +0.0000 MAY 02 0.3950 0.3950 0.2950 +0.0000 JUN 02 0.3950 0.3950 0.2950 +0.0000 JUL 02 0.2950 0.2950 0.2950 +0.0000 ---------------------------------------------------- ENERGY JOB LISTINGS Whether you are actively looking for a job, or want to explore opportunities in the energy industry, go to http://www.energyjobs.com. At Energyjobs.com, your job hunting is made easy, convenient and confidential. Conduct your own search or participate in our Job Match feature, which accurately matches your qualifications, experience and requirements to any new job that appears, and then sends you an e-mail notification! Best of all, membership < is FREE. To register and become a member, simply go to http://www.energyjobs.com/jobseeker_registration_frm.html ---------------------------------------------------- IPE - ARA Gas Oil Futures $ / Tonne Month High Low Sett Change DEC 01 175.75 165.75 167.75 - 5.25 JAN 02 177.50 167.00 169.75 - 5.25 FEB 02 177.00 168.50 170.25 - 4.75 MAR 02 169.50 169.50 170.75 - 4.25 APR 02 169.50 169.50 170.50 - 3.75 MAY 02 169.75 169.75 171.00 - 3.50 JUN 02 000.00 000.00 172.00 - 3.00 JUL 02 000.00 000.00 173.50 - 3.00 AUG 02 000.00 000.00 175.00 - 3.00 SEP 02 176.25 176.25 176.50 - 3.00 ----------------------------------------------------- NY HARBOR UNLEADED GAS FUTURES Month High Low Last Change DEC 01 0.5370 0.5240 0.5273 -0.0008 JAN 02 0.5410 0.5310 0.5326 -0.0018 FEB 02 0.5475 0.5390 0.5414 -0.0022 MAR 02 0.5540 0.5490 0.5524 -0.0024 APR 02 0.6200 0.6130 0.6153 -0.0024 MAY 02 0.6220 0.6200 0.6179 -0.0024 JUN 02 0.6300 0.6250 0.6218 -0.0024 JUL 02 0.6240 0.6210 0.6174 -0.0024 AUG 02 0.6180 0.6180 0.6119 -0.0024 SEP 02 0.5788 0.5788 0.5895 -0.0024 ------------------------------------------------------ Russia Becomes Lone Hold-Out In yet another attempt to convince Russia to commit to significant output curbs, OPEC is calling on non-members to cooperate in an effort to lift sinking oil prices. OPEC has said it will not act alone in reducing exports. Earlier this month, the cartel said it would trim production by 1.5 million bpd if non-members such as Mexico, Norway and Russia contribute another 500,000 bpd. Mexico has said it would make an 100,000 bpd cut. And last week Norway chimed in with pledge of a 200,000 bpd reduction. But so far, Russia, the worlds 2nd largest oil producer does not seem inclined to join the party, despite raising their planned output reduction to 50,000 bpd from a previously announced 30,000 bpd. OPEC's secretary general says the organization is working to prevent a catastrophe in oil prices. ------------------------------------------------------ ENERGY. @ENERGY(r), FEA's Complete Suite of Energy Products, BUILT FOR THE FUTURE. *Manage all your energy risks. *Build and Price deals. *Value physical assets (generation, storage, etc.) *Report and reduce your energy risks FEA FINANCIAL ENGINEERING ASSOCIATES Inc. http://www.fea.com/ main phone number: 1 510-548-6200 email address: info@fea.com -------------------------------------------------- PHYSICAL GAS PRICES Gulf/Eastern Region | Agua Dulce | 1.66 | | ANR SE | 1.86 | | Carthage TG | 1.74 | | Chicago Citygate | 1.88 | | Columbia Gulf Onshore | 1.83 | | Dominion South Point | 2.14 | | Henry Hub | 1.93 | | Houston Ship Channel | 1.82 | | Katy Hub | 1.75 | | NGPL LA Pool | 1.80 | | NGPL - Midcontinent | 1.70 | | NGPL STX | 1.71 | | NGPL TX/OK | 1.76 | | NNG Demarc. | 1.75 | | Niagara | 2.01 | | Sonat Tier 1 | 1.86 | | TCO IPP Pool | 1.98 | | Tetco ELa | 1.88 | | Tetco M-3 | 2.17 | | Tetco STX | 1.80 | | TGP Zone 0 | 1.75 | | TGP Zone 1 (500 Leg) | 1.77 | | TGT Zone SL | 1.90 | | New York Citygate | 2.33 | | Transco Station 65 | 1.98 | | Transco Zone 6 (NY) | 2.35 | | Trunk ELa | 1.81 | | Western Region | California Border | 1.57 | | El Paso Keystone | 1.59 | | El Paso San Juan-Blanco | 1.44 | | Waha Hub | 1.66 | | Canadian/Rockies Region | Nova/Aeco (C$/gig) | 2.48 | | Dawn Hub/Union | 2.08 | | Northwest Stanfield | 1.57 | | Wyoming Pool | 1.43 | | Opal/Kern River | 1.46 | | PGT-Malin | 1.62 | | Sumas | 1.71 | ------------------------------------------------ Energy Seminars, Inc. Announces Key Seminar Offerings for November: November 27-28 - Houston Petroleum Products Hedging November 29-30 - Las Vegas Power Techniques for Power Purchasing December 12 - Houston FASB 133 - Accounting for Derivative Instruments and Hedging Activities Is you shop Fully FASB 133 Compliant? Attendees will receive and work with a 535 page guide to FASB Statement 133 and 7.o hours CPE credit. Register on-line at http://www.energyseminars.com or call Registrar Gina Patrick Phone: 281-362-7979 FAX: 281-296-9922 ------------------------------------------------ Lawsuit Filed Over Phillips, Conoco Merger Conoco has been sued over a planned $15.4 billion merger with Phillips to form the 3rd largest US oil company. The lawsuit contends that the merger undervalues Conoco shares. The deal would exchange 0.4677 share of the new company for each Conoco share. Shares of Conoco were up $0.54 to $27.30 per share last week while shares of Phillips gained $0.72 to $55.00, valuing Conoco at $25.72 relative to Phillips. Conoco shares have seen an 8.1% increase from $24.30 per share on November 16th, just before the merger was announced. The lawsuit alleges that Conocos directors failed to fulfill their obligations by not properly seeking the best alternative for its shareholders. The suit also contends that the transaction includes no premium for Conoco shareholders and also seeks class-action status and an order forcing directors to explore available alternatives to the deal. ----------------------------------------------- Natural Gas Options | | Closing | Days | Implied ATM | | Month | Price | Left | Volatility | | DEC | 2.813 | 5 | 87.53% | ---------------------------------------------- Heating Oil Options | | Closing | Days | Implied ATM | | Month | Price | Left | Volatility | | DEC | 0.5342 | 5 | 56.18% | -------------------------------------------- Unleaded Gas Options | | Closing | Days | Implied ATM | | Month | Price | Left | Volatility | | DEC | 0.5273 | 5 | 58.40% | -------------------------------------------- Arctic Drilling Effected by Lower Natural Gas Prices The drilling industry ready for an active winter season on the tundra of Canada's far north, but low natural gas prices and a weak economy have lowered expectations of a boom time. Most companies such as Petro-Canada and Paramount Resources are pressing ahead with exploration in the rugged Northwest Territories. Due to marshy conditions for the rest of the year, wells are drilled in winter when the ground freezes. Petro-Canada plans to drill three 9,840-foot deep wells in the Mackenzie Delta and Paramount intends to drill two wells farther south, near Fort Liard, below the Arctic Circle. The region could hold trillions of cubic feet of natural gas. In recent federally supervised land sales, producers committed to spending C$650 million on exploration over the next few years just in the Mackenzie Delta. But some wells in theYukon and the Northwest Territories' central Mackenzie Valley have been canceled or delayed by Canadian Natural Resources. But the troubled economy and the drop in prices from $10 per MMBtu last January are having an impact. Akita Drilling is keeping two new rigs in Alberta this winter and delaying the move of the C$18 million units to the Mackenzie Delta until later in 2002. Imperial Oil, Shell Canada and Conoco are studying building a C$3 billion pipeline to transport about a Bcf per day of Arctic volumes to southern Canada and the US. -------------------------------------------- Deregulation of Texas Power Markets: Early Impact and Rules of Entry is the definitive report on the Texas power marketplace. This full-color report contains: a complete review of Senate Bill 7; detailed analysis of the economics, pitfalls and potential opportunities; market statistics and competitive information; reference and contact information; and graphs, tables and charts for a quick grasp of the Texas marketplace. Order your report on-line from Skipping Stone's Knowledge Mall at http://www.skippingstone.com or call 888-792-2592 ----------------------------------------------------------- Nigeria Orders Oil Meeting Cancelled Nigeria has ordered British and US diplomats to cancel a meeting with the governors of the West African nation's oil-producing states, calling it a threat its sovereignty. Nigeria's minister of state for foreign affairs summoned the US ambassador and British Deputy High Commissioner to tell them the meeting scheduled for today must be called off. British and American diplomats said the meeting never meant to undermine the central government. The meeting was to share information with the governors on some environmental issues that would be beneficial to the oil producing communities. Royal Dutch Shell is Nigeria's largest producer accounting for about half of the country's daily crude oil output of about two million barrels, followed by ExxonMobil, which pumps about 620,000 bpd. Nigeria's oil- producing states and the federal government have been fighting over control of its oil resources. ------------------------------------------------------- Energy Sponsor Become the Official Sponsor of the Enerfax Publications. This unique opportunity is limited to one special company or organization. For more information please write sponsor@enerfax.com -------------------------------------------------------- Duke to Import Natural Gas to Italy Duke Energy is selling natural gas and electricity into the Italian market via its energy trading business, and could also bid for one of the generating companies to be sold by Enel. Duke's effort to boost its presence in Italy includes plans to open offices in Milan. Duke is interested in acquiring generating capacity in the Italian market, either through acquisitions or contracts involving the rental of generators. If Duke does actually bid for generating capacity, its target would be Interpower, the third of a group of generating units that Italian power giant Enel is selling off to comply with EU rules aimed at fostering competition in Italy's energy market. -------------------------------------------------------- FINANCIAL SUMMARY The TSE 300 was up 49.90 points to 7432.43 The CRB Index gained 0.34 points to 190.12 The US Dollar climbed 0.63 points to 117.34 The Dow advanced 58.33 points to 9959.71 The S&P 500 added 13.31 points to 1150.34 The Nasdaq increased 28.15 points to 1903.20 January NYMEX Crude Oil fell 0.19 to 18.96 Canadian-US Exchange rose 0.048 to 1.5981 ------------------------------------------------------ Please Welcome Our Advertisers by Visiting These Websites! http://www.fea.com/ http://www.kwi.com/ http://www.capacitymap.com/ http://www.fame.com http://www.energyseminars.com http://www.energyjobs.com Enerfax Gold is the North America's Gas, Oil, Liquids and Derivatives information source. It is sent to you free of charge. Enerfax Gold may be copied and redistributed in its entirety to all interested energy professionals. Please send us the e-mail addresses of other energy professionals that would like to be added to Enerfax Gold's growing distribution list of thousands of energy professionals in the US and Canada at subscribegold@enerfax.com The information contained herein was obtained from sources which Enerfax Gold believes to be reliable, but does not guarantee its accuracy. Your support of our advertisers is greatly appreciated and will keep Enerfax Gold free. Thank you. Your comments are welcome. For information on advertising, please write advertising@enerfax.com Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
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