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Subject:GPCM News: 10/23/01: New Deepwater Gas Discovery: Cold Winter
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Date:Tue, 23 Oct 2001 09:20:18 -0700 (PDT)

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New Deepwater Gulf Gas Discovery
=20
Kerr-McGee announced a new discovery of natural gas in their Redhawkprospec=
t in Garden Banks block 877 of the deepwater gulf. Drilled to over 23,000 =
feet in 5,400 feet of water, this new discovery encountered more than 135 f=
eet of gas and gas condensate in two zones. Kerr-McGee and Ocean Energy ea=
ch own 50% of Redhawk. Current estimates of reserves in this prospect rang=
e between 300 and 500 BCF. For more information see http://www.kerr-mcgee.=
com/news2001/102201.html .
=20
From http://www.enerfax.com :
Salomon Forecast Cold Winter
This winter will likely rank in the top third of the coldest in history for=
the US, according to the winter forecast by Salomon Smith Barney. However,=
the odds do not point to an exceptionally cold winter, such as one of the =
top 10 coldest, but that is not totally out of the question. The forecast i=
s based on a switch in the Pacific Decadal Oscillation in the northern Paci=
fic Ocean from a warm phase for sea surface temperatures, which tends to en=
courage mild winters, to a cold phase, which raises the likelihood of a col=
der-than-normal winter. Combined with neutral sea surface temperatures in t=
he equatorial Pacific Ocean in a year that did not feature an El Nino or La=
Nina weather anomaly and an adequate pool of cold air in the northern hemi=
sphere, conditions are similar to those prevailing before last winter. Last=
week, the National Oceanic and Atmospheric Administration winter forecast =
called for temperatures to be colder than normal in the Northeast, Upper Mi=
dwest, Great Lakes and Great Plains States, with heavy snow in many of the =
same areas.=20
Bob Brooks
GPCM Natural Gas Market Forecasting Systemhttp://gpcm.rbac.com=20