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Content-Type: text/plain; charset=ANSI_X3.4-1968 Content-Transfer-Encoding: 7bit X-From: enerfax1 <enerfax@msn.com< X-To: EnerfaxGOLD@yahoogroups.com X-cc: X-bcc: X-Folder: \Kim_Watson_Mar2002\Watson, Kimberly\Deleted Items X-Origin: Watson-K X-FileName: kwatson (Non-Privileged).pst Enerfax GOLD NORTH AMERICA'S FREE? GAS, OIL, LIQUIDS & DERIVATIVES INFORMATION SOURCE Thursday, January 10 2002? No. 459 Visit our website at: http://www.enerfaxgold.com/, PETROLEUM PRICES ??? | Bonny Light | $20.32 | Brent | $20.09 | Butane | $ 0.36 | Fuel Oil #2 | $ 0.53 | Louisiana | $20.50 | Medit. | $19.84 | Propane Non-tet | $ 0.29 | Propane Wet-tet | $ 0.29 | W. Tx Int Cush | $20.18 | W. Tx Sour | $18.60 | Euro in US equiv | 0.8914 ------------------------------------------------------------- Todays Petro Bulletins * SCE Notes Security at San Onofre Nuclear Power Plant Was Never Threatened * Shell Capital Expands Operations, Hires Two New Vice Presidents * Plains All American Pipeline to Acquire West Texas Crude Oil Assets from CornerStone Propane Partners for $8.5 Million * Shell Finds Onshore Oilfield in Gabon in Central Africa * McDermott Wins Asbestos Insurance Ruling * Qatar and Pakistan Resurrect $5 Billion Natural Gas Project to Supply 1.6 Bcf per Day from Qatar to Pakistan by Pipeline * Pemex to Cut Work Force by 2,000 Jobs this Year * Burlington Resources Declares $0.1375 per Share Quarterly Dividend on Common Stock * Oil Sector Stocks Slide Yesterday on Rising Supply * Baker Hughes Says Worldwide Rig Count for December 2001 was 1,917, Down 90 from 2,007 in November 2001 and Down 295 from 2,212 in December 2000 ------------------------------------------------------------- NYMEX - NY Harbor Heating Oil? ? ? ? ? ? Month ??High ??Low? ? Last ? Change FEB 02 0.5560 0.5360 0.5379 -0.0303 MAR 02 0.5610 0.5430 0.5444 -0.0282 APR 02 0.5625 0.5460 0.5469 -0.0267 MAY 02 0.5580 0.5530 0.5459 -0.0153 JUN 02 0.5665 0.5550 0.5494 -0.0242 JUL 02 0.5690 0.5625 0.5549 -0.0232 AUG 02 0.5795 0.5660 0.5619 -0.0227 SEP 02 0.5940 0.5885 0.5921 -0.0023 OCT 02 0.5880 0.5880 0.5784 -0.0217 NOV 02 0.6010 0.5940 0.5859 -0.0212 ------------------------------------------------------------- NYMEX Crude Oil Futures ($ / Barrel) Month ?Open ?High ??Low ?Last Change FEB 02 20.70 20.95 20.11 20.18 -1.07 MAR 02 20.85 21.30 20.55 20.65 -0.92 APR 02 21.16 21.73 20.81 20.88 -0.85 MAY 02 21.20 21.55 20.85 20.93 -0.76 JUN 02 21.20 21.40 20.90 20.94 -0.69 JUL 02 21.15 21.34 20.90 20.91 -0.66 AUG 02 21.00 21.00 21.00 20.89 -0.64 SEP 02 21.00 21.05 21.00 20.88 -0.62 OCT 02 21.58 21.62 21.58 21.47 -0.21 NOV 02 21.00 21.00 21.00 20.86 -0.58 ------------------------------------------------------------- Crude Oil Futures Tumble on API Data Crude oil futures for February delivery on the NYMEX tumbled $1.07 to $20.18 per barrel yesterday after the API reported an unexpectedlarge jump of 930,000 barrels in heating oil supplies by last week. Analysts had expected a drop in inventories after last weeks cold snap increased demand. Heating oil inventories now stand at 62 million barrels, about 30% higher than a year ago and 10% over levels at the start of the heating season. Total distillate stocks climbed by 5.68 million barrels according the API report. Demand for jet fuel plunged after the September 11th attacks, so refiners began to produce more heating oil to make up for the shortage, but an unseasonably mild autumn coupled with a recession that eroded demand has sent inventory levels soaring. In addition, traders are skeptical about the level of resolve by OPEC and non-member producers to stick, or even come close, to their pledge to remove almost 2 million bpd from the market. Heating oil futures for February delivery on the NYMEX fell $0.0303 to $0.5379 per gallon. Prices for heating oil are down 8.2% for the week and 33% below a year ago. February gasoline futures on the NYMEX lost $0.0293 to $0.5806 per gallon. In London, Brent crude oil futures on the IPE were down $1.13 to $20.89 per barrel. ------------------------------------------------------------- ???????????????????? NYMEX Henry Hub Natural Gas Futures 12 Month Strip ?2.5410 -0.0438 ? ? ? 18 Month Strip ?2.6860 -0.0429 ? ? | Month | High | Low | Close | Change | | FEB | 2.270 | 2.140 | 2.228 | -0.053 | | MAR | 2.260 | 2.150 | 2.232 | -0.053 | | APR | 2.270 | 2.245 | 2.266 | -0.024 | | MAY | 2.360 | 2.271 | 2.332 | -0.042 | | JUN | 2.450 | 2.320 | 2.402 | -0.040 | | JUL | 2.475 | 2.410 | 2.467 | -0.038 | | AUG | 2.525 | 2.465 | 2.517 | -0.038 | | SEP | 2.580 | 2.485 | 2.531 | -0.041 | | OCT | 2.605 | 2.515 | 2.566 | -0.041 | | NOV | 2.810 | 2.750 | 2.794 | -0.043 | | DEC | 3.050 | 2.975 | 3.021 | -0.046 | | JAN | 3.150 | 3.090 | 3.136 | -0.046 | ------------------------------------------------------------- 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 ------------------------------------------------------------- Williams Completes Cryogenic Upgrade Williams has completed the addition of a 3rd cryogenic gas processing unit at its Echo Springs natural gas plant near Wamsutter, Wyoming. The project boosts processing capacity from 250 MMcf per day to 390 MMcf per day and liquids extraction from 18,000 bpd to 28,000 bpd. Williams also expanded the pipeline gathering system that brings natural gas into the plant for processing. Capacity on the gathering system was increased from 330 MMcf per day to 400 MMcf per day. Total cost for the entire upgrade at the Echo Springs complex is $45 million. Installation of the new cryogenic unit began in April 2001 and was mechanically completed in early November by Pro-Quip Corporation of Tulsa. Williams concluded startup operations in late December and is already utilizing in excess of 80% of the new processing capacity. ------------------------------------------------------------- ??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 ????? ------------------------------------------------------------- Lower Refining Margins Cut Into Sunoco Earnings Sunoco has said its operating income last year was about the same as in 2000 at $5.00 per share, below forecasts of $5.21 because of lower refining margins and a loss from its chemical business. Analysts expect the company to post earnings of $0.41 per share for the 4th quarter. Sunoco said that last quarter was the most difficult market environment experienced in several years because of the weakening economy and record warm temperatures. Northeast refining margins fell last quarter and its chemicals unit probably had a small loss because of cyclically low margins, the company said. A sharp drop in demand for heating oil during the 4th quarter, a time when refineries usually switch to producing more heating oil, has eaten away at profits. Last quarter, the average price of NYMEX heating oil fell 41% to $0.5807 per gallon from a year earlier. The company's jet fuel sales also likely fell victim to flight cutbacks by airlines following the September 11th attacks. The average price of jet fuel on the East Coast dropped by 44% last quarter from a year earlier. Sunoco said its capital spending will be about $517 million this year, compared to 2001s capital expenditures of about $350 million, excluding some acquisitions. The company plans to open about 50 new gasoline stations at Wal-Mart stores this year. Wal-Mart also has service station agreements with Murphy Oil and Tesoro Petroleum. Sunoco repurchased about 3.2 million shares last quarter for $120 million. It spent a total of $393 million to buy back about 10.7 million shares in 2001. ------------------------------------------------------------- IPE-Brent Crude futures (US $/barrel) Month ?First ?High ?Low ??Sett ?Chg FEB 02 21.48 21.55 20.85 20.89 ?1.13 MAR 02 20.52 20.60 20.07 20.10 ?0.82 APR 02 20.39 20.49 20.10 20.10 ?0.72 MAY 02 20.26 20.40 20.07 20.07 ?0.64 JUN 02 20.22 20.40 20.06 20.06 -0.61 JUL 02 20.19 20.40 20.06 20.06 -0.59 AUG 02 20.28 20.41 20.06 20.06 -0.57 SEP 02 20.15 20.40 20.06 20.06 -0.55 OCT 02 20.05 20.05 20.05 20.05 -0.54 NOV 02 20.04 20.04 20.04 20.04 -0.53 ------------------------------------------------------------- NYMEX-Mont Belvieu Propane Gas Futures($ / Gallon) Month ? ?High ??Low ??Last ? Change Feb 02 0.0000 0.0000 0.2900 -0.0125 Mar 02 0.0000 0.0000 0.2875 -0.0125 Apr 02 0.0000 0.0000 0.2875 -0.0125 May 02 0.0000 0.0000 0.2925 -0.0125 Jun 02 0.0000 0.0000 0.2950 -0.0125 Jul 02 0.0000 0.0000 0.3025 -0.0125 Aug 02 0.0000 0.0000 0.3075 -0.0125 Sep 02 0.0000 0.0000 0.3075 -0.0125 Oct 02 0.0000 0.0000 0.3175 -0.0125 Nov 02 0.0000 0.0000 0.3175 -0.0125 ------------------------------------------------------------- Shell Discovers New Gabon Oil Field Royal-Dutch Shell's unit in Gabon has found an onshore oilfield at a time the central African nation is trying to step up efforts to reverse a long term decline in production. Gabon's energy minister says the production capacity of the new field is estimated to be between 15,000 ? 20,000 bpd, and to hold 20 - 50 million barrels of crude oil. The field was discovered through the Toucan-1 exploration well at a depth of 5,170 feet, 6 miles from the Shell's Rabi-Kounga field, which is Gabon's largest. Gabon is sub-Saharan Africa's 3rd largest producer after Nigeria and Angola. The government relies on oil exports for more than 60% of its revenue. ------------------------------------------------------------- IPE - ARA Gas Oil Futures $ / Tonne Month ??High ??Low ???Sett ?Change FEB 02 166.50 166.50 166.50 - 7.25 MAR 02 171.75 169.00 169.25 - 6.75 APR 02 173.00 170.75 170.75 - 6.50 MAY 02 174.50 171.50 172.00 - 6.50 JUN 02 176.00 173.50 173.50 - 6.25 JUL 02 175.25 175.25 175.25 - 6.25 AUG 02 176.75 176.75 176.75 - 6.25 SEP 02 179.00 178.75 178.75 - 6.25 OCT 02 179.75 179.75 179.75 - 6.50 Nov 02 180.75 180.75 180.75 ? 6.25 ------------------------------------------------------------- NY HARBOR UNLEADED GAS FUTURES Month? ?High ? Low ???Last ??Change FEB 02 0.6020 0.5780 0.5806 -0.0293 MAR 02 0.6115 0.5900 0.5940 -0.0261 APR 02 0.6730 0.6530 0.6570 -0.0221 MAY 02 0.6775 0.6630 0.6625 -0.0203 JUN 02 0.6725 0.6640 0.6618 -0.0182 JUL 02 0.6670 0.6590 0.6543 -0.0170 AUG 02 0.6550 0.6515 0.6423 -0.0162 SEP 02 0.6370 0.6360 0.6248 -0.0157 OCT 02 0.6145 0.6145 0.6145 -0.0089 NOV 02 0.6120 0.6100 0.6065 -0.0074 -------------------------------------------------------------- TEPPCO Buys Chaparral and Quanah Pipelines TEPPCO has signed an agreement to acquire the Chaparral and Quanah pipelines from Diamond-Koch for about $130 million and is expects to close the deal next month. TEPPCO projects 1st year earnings before interest, taxes, depreciation and amortization from the pipeline systems of about $16 million. All of the pipelines revenue is either tariff or fee-based. TEPPCO says the acquisition will be immediately accretive to income and cash flow. Over the last 2 years TEPPCO has announced more than $900 million in acquisitions, and plans acquisitions of $300 million to $400 million in 2002. The 800-mile Chaparral pipeline extends from New Mexico to Mont Belvieu, TX. The pipeline delivers natural gas liquids to fractionators and existing TEPPCO storage in Mont Belvieu. The 170-mile Quanah Pipeline is a NGL gathering system in West Texas. The Quanah Pipeline begins in Sutton County, TX, and connects to the Chaparral Pipeline near Midland. The pipelines are connected to 27 gas plants in West Texas and have about 28,000 HP of pumping capacity at 14 stations. The sale also includes 2 underground NGL storage wells with a total capacity of 220,000 barrels. The pipelines and facilities will be operated and managed by Duke Energy Field Services. The acquisition will initially be funded under TEPPCO's bank credit facilities. TEPPCO is evaluating permanent financing alternatives. ------------------------------------------------------------- ??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/?cId=17 main phone number:? 1 510-548-6200 email address: info@fea.com ------------------------------------------------------------- NCNG to Participate in EPA Methane-Reduction Program NCNG has said that it will participate in the EPA's Natural Gas STAR Program, aimed at reducing emissions of methane. Natural Gas STAR, a voluntary program between the EPA and the industry, seeks to reduce methane emissions by promoting cost-effective technologies and practices. Methane, the primary component of natural gas, is considered to be a greenhouse gas that contributes to global warming. Although less than 2% of natural gas in the US is lost through emissions, Natural Gas STAR partners have eliminated more than 120 Bcf of methane emissions since the program began, equal to removing 9.5 million cars from the road for one year or planting 14.5 million acres of trees. In addition, companies have saved $360 million because of the smaller amounts of lost natural gas. Launched in 1993 as part of the Climate Change Action Plan, Natural Gas STAR has more than 80 partner companies and is endorsed by 11 major industry trade associations. For more information about the EPA's Natural Gas STAR program, visit www.epa.gov/gasstar . ------------------------------------------------------------- PHYSICAL GAS PRICES? ? ? Gulf/Eastern Region | Agua Dulce | 2.17 | | ANR SE | 2.25 | | Carthage TG | 2.25 | | Chicago Citygate | 2.19 | | Columbia Gulf Onshore | 2.28 | | Dominion South Point | 2.38 | | Henry Hub | 2.31 | | Houston Ship Channel | 2.30 | | Katy Hub | 2.25 | | NGPL LA Pool | 2.18 | | NGPL - Midcontinent | 2.08 | | NGPL STX | 2.15 | | NGPL TX/OK | 2.16 | | NNG Demarc. | 2.12 | | Niagara | 2.48 | | Sonat Tier 1 | 2.26 | | TCO IPP Pool | 2.38 | | Tetco ELa | 2.30 | | Tetco M-3 | 2.61 | | Tetco STX | 2.18 | | TGP Zone 0 | 2.19 | | TGP Zone 1 (500 Leg) | 2.26 | | TGT Zone SL | 2.28 | | New York Citygate | 2.67 | | Transco Station 65 | 2.37 | | Transco Zone 6 (NY) | 2.67 | | Trunk ELa | 2.22 | | Western Region | California Border | 2.15 | | El Paso Keystone | 2.03 | | El Paso San Juan-Blanco | 2.00 | | Waha Hub | 2.10 | | Canadian/Rockies Region | Nova/Aeco (C$/gig) | 2.89 | | Dawn Hub/Union | 2.27 | | Northwest Stanfield | 2.03 | | Wyoming Pool | 1.92 | | Opal/Kern River | 1.94 | | PGT-Malin | 2.09 | | Sumas | 2.01 | Flow Date 1/10 ------------------------------------------------------------- Duke Begins Operations at New Natural Gas Processing Plant Duke Energy Field Services has completed start-up testing operations at its new Platteville natural gas processing plant, and placed it into commercial operation. The Platteville processing plant is located northeast of Denver and will have an initial capacity of 33 MMcf per day of natural gas, and is expandable to 50 MMcf per day with additional inlet compression. The plant will facilitate additional oil and gas production growth in the Denver-Julesburg Basin. This expansion of processing capacity represents the 3rd major expansion of capacity in the last three years and increases Dukes's processing capacity in the area to more than 240 MMcf per day. ------------------------------------------------------------- Washington DC January 24, 2002 Spencer Abraham U.S. Secretary of Energy to address energy community on potential security and commerce threats. Also to speak will be key directors from the CIA, SPR, IEA, SPR and more. See complete detail and register today at http://www.wesc.org ------------------------------------------------------------- Plains All American Buys CornerStone Assets Plains All American Pipeline has agreed to buy most of the West Texas crude oil assets of CornerStone Propane Partners for about $8.5 million. The deal will generate an annual 15% - 20% return on capital. It is expected to close in March. The assets consist of midstream crude oil pipeline, gathering and marketing facilities in the West Texas market. Currently they are operated by CornerStone unit Coast Energy Group under the names Lantern Petroleum and Coast Energy Group. ------------------------------------------------------------- Baker Hughes December 2001 Rig Counts Baker Hughes says the international rig count for December 2001 was 752, up 11 from 741 in November 2001 and up 47 from 705 in December 2000. The international offshore rig count for December 2001 was 222 up 2 from 220 in November 2001 and up 21 from 201 in December 2000. The US rig count for December 2001 was 901 down 99 from 1,000 in November 2001 and down 196 from 1,097 in December 2000. The Canadian rig count for December 2001 was 264 down 2 from 266 in November 2001 and down 146 from 410 in December 2000. ------------------------------------------------------------- FINANCIAL SUMMARY The TSE 300 dipped 6.26 points to 7775.78 The CRB Index gained 0.10 points to 195.03 The US Dollar increased 0.16 points to 116.94 The Dow declined 56.46 points to 10094.09 The S&P 500 dropped 5.57 points to 1155.14 The Nasdaq was down 10.89 points to 2044.89 February NYMEX Crude Oil fell 1.07 to 20.18 Canadian-US Exchange lost 0.0029 to 1.5950 ------------------------------------------------------------- Please Welcome Our Advertisers by Visiting These Websites! http://www.fea.com/ http://www.kwi.com/ To subscribe write enerfaxgold-subscribe@egroups.com To unsubscribe write enerfaxgold-unsubscribe@egroups.com 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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