Message-ID: <24751846.1075859007398.JavaMail.evans@thyme> Date: Fri, 28 Sep 2001 06:42:46 -0700 (PDT) From: enerfaxdaily@enerfax.com To: tdonoho@enron.com Subject: [enerfaxdaily] New Pipeline Planned Mime-Version: 1.0 Content-Type: text/plain; charset=ANSI_X3.4-1968 Content-Transfer-Encoding: quoted-printable X-From: enerfaxdaily@enerfax.com X-To: tdonoho@enron.com X-cc: X-bcc: X-Folder: \TDONOHO (Non-Privileged)\Inbox X-Origin: Donohoe-T X-FileName: TDONOHO (Non-Privileged).pst mailto:leave-enerfaxdaily-1013476O@relay.netatlantic.com is the unsubscribe= address for $subst ('Recip.EmailAddr') This email contains both the web an= d text version. The text version is located at the very end of the newslett= er. The web version is available to Outlook users and will take a minute to= appear.=20 If you can not view this email visit http://www.enerfax.com for today's pow= er & natural gas prices & news. ----- Pure Text & Lotus Users subscribe to = the pure text version by clicking =20 Enerfax Daily NORTH AMERICA'S FREE POWER AND GAS INFORMATION SOURCE Friday, September 28, 2001 No. 835 Visit our website at: =20 For Oil Prices & News write enerfaxgold-subscribe@egroups.com or go to PHYSICAL NATURAL GAS PRICES=20 Gulf/Eastern Region=20 | Agua Dulce | 1.78 | | ANR SE | 1.87 | | Carthage TG | 1.85 | | Chicago Citygate | 1.94 | | Columbia Gulf Onshore | 1.86 | | Dominion South Point | 2.18 | | Henry Hub | 1.89 | | Houston Ship Channel | 1.89 | | Katy Hub | 1.84 | | NGPL - Midcontinent | 1.74 | | NGPL STX | 1.86 | | NGPL TX/OK | 1.85 | | NNG Demarc. | 1.80 | | Niagara | 2.21 | | Sonat Tier 1 | 1.90 | | TCO IPP Pool | 2.24 | | Tetco ELa | 1.93 | | Tetco M-3 | 2.19 | | Tetco STX | 1.87 | | TGP Zone 0 | 1.86 | | TGP Zone 1 500 Leg | 1.96 | | TGT Zone SL | 1.86 | | New York Citygate | 2.24 | | Transco Station 65 | 2.10 | | Transco Zone 6 (NY) | 2.25 | | Trunk ELa | 1.86 | | Western Region=20 | California Border | 1.79 | | El Paso Permian | 1.66 | | El Paso San Juan | 1.35 | | Waha Hub | 1.69 | | Canadian/Rockies Region=20 | Nova/Aeco (C$/gig) | 2.16 | | Dawn Hub/Union | 2.19 | | Northwest Stanfield | 1.52 | | Wyoming Pool | 1.38 | | Opal/Kern River | 1.37 | | PGT-Malin | 1.54 | | Sumas | 1.46 | Flow Dates 09/28-30 --------------------------------------------- And now there's FASB 133.=20 So history will affect reported earnings, because hedge efficiencies and de= rivative valuations will hit the bottom line. At FAME, we deliver quality h= istorical information and analysis. For your FREE copy of the recent report= , Protecting Your Earnings: Managing the FASB 133 Challenge, click here or visit -------------------------------------------- NATURAL GAS FUTURES Henry Hub=20 12 Month Strip 2.7675=20 18 Month Strip 2.9098=20 | Month | High | Low | Close | Change | | NOV | 2.300 | 2.210 | 2.253 | +0.000 | | DEC | 2.670 | 2.595 | 2.624 | -0.009 | | JAN | 2.865 | 2.800 | 2.826 | -0.009 | | FEB | 2.860 | 2.800 | 2.826 | -0.009 | | MAR | 2.830 | 2.770 | 2.794 | -0.011 | | APR | 2.780 | 2.720 | 2.736 | -0.014 | | MAY | 2.805 | 2.740 | 2.761 | -0.014 | | JUN | 2.860 | 2.790 | 2.813 | -0.014 | | JUL | 2.895 | 2.840 | 2.858 | -0.015 | | AUG | 2.930 | 2.890 | 2.899 | -0.014 | | SEP | 2.930 | 2.880 | 2.899 | -0.012 | | OCT | 2.950 | 2.910 | 2.921 | -0.010 | ------------------------------------------------------------- Natural Gas Futures End Flat=20 Natural gas futures for November delivery on the NYMEX went nowhere yesterd= ay, failing to break above $2.30 per MMBtu and settling at $2.253 per MMBtu= , unchanged from Wednesday. Trading was thin as many traders were out of th= e ring for a religous holiday. On the positive side, the first month of the= winter strip's support held at $2.21 per MMBtu and did not gravitate towar= d the October futures expiration or physical prices, as volatility has abso= lutely fled the market. The December contract lost $0.009 to $2.624 per MMB= tu, trading within a narrow $0.075 range. So attention remains fixed on the= $0.42 differential between the October expiration and the November contrac= t. With $2.21 setting up to be a pivotal support level, a breakdown below $= 2.20 could be deemed a failure. If the market sees no strength today ahead = of a low-demand weekend, expect another sell-off ahead of what happened las= t Monday when the October contract sold down $0.20 to 30-month lows. Extrem= ely bearish fundamentals remain in place, from weather, to storage, to lack= of industrial load and hurricanes. So look for the November contract to tr= ade downward in the next few days in an effort to resolve that high spread.= However, trading for today into the weekend remains a tough call as the ma= rket has not shown a willingness to go anywhere lately. Next week, the NYME= X extends energy trading from 10 AM to 2 PM EDT, except for Wednesday, whic= h will trade 10 AM to 2:30 PM to accommodate trading after the AGA storage = report. The latest NWS forecast for next week calls for below normal weathe= r for the Eastern half of the US, from Texas into the Northeast, and above = normal in most of the West. Natural gas for next day delivery across the US= was generally flat to $0.05 lower yesterday. Canadian spot prices were up = $0.05 $0.10 per MMBtu. Natural gas for next day delivery at the Henry hub d= ipped $0.01 to $1.89 per MMBtu.=20 ------------------------------------------------------------- RISK MANAGEMENT=20 Across the Energy Enterprise e-Acumen, Inc., is uniquely positioned to help you manage risk and=20 increase value. That's because our analytics, data and applications=20 cover all strategic aspects of the energy enterprise, from short-term=20 forecasting to comprehensive risk analysis and portfolio optimization,=20 to asset valuation and weather risk management. Dedicated to the needs=20 of energy and trading companies in a dynamic and competitive world, our=20 approach combines best-in-class physical fundamentals with=20 industry-leading statistical methodologies.=20 e-Acumen is a venture-backed company founded in January, 1997. Since=20 then we have listened attentively to the market and assembled a stellar=20 cast of seasoned energy industry professionals and Silicon Valley=20 technologists. Join us as we help the industry continue its path toward=20 liquidity and profitable, risk-managed growth in the exciting years=20 ahead! Click here to find out = more about current special offers, or go to=20 --------------------------------------------------------- POWER FUTURES=20 | Month | COB | Change | PV | Change | | OCT | 33.00 | +0.00 | 31.50 | +0.00 | | NOV | 31.50 | +0.00 | 34.00 | +0.00 | | DEC | 33.50 | +0.00 | 38.00 | +0.00 | | JAN | 32.50 | +0.00 | 37.50 | +0.00 | | FEB | 31.50 | +0.00 | 35.00 | +0.00 | | MAR | 31.00 | +0.00 | 33.00 | +0.00 | | APR | 32.00 | +0.00 | 33.50 | +0.00 | | MAY | 36.00 | +0.00 | 33.50 | +0.00 | | JUN | 42.00 | +0.00 | 33.50 | +0.00 | | JUL | 52.00 | +0.00 | 44.00 | +0.00 | | AUG | 57.00 | +0.00 | 44.00 | +0.00 | | SEP | 44.50 | +0.00 | 44.00 | +0.00 | | Month | Entergy | Change | Cinergy | Change | | OCT | 24.15 | +0.00 | 25.85 | +0.00 | | NOV | 24.20 | +0.00 | 26.10 | +0.00 | | DEC | 25.90 | +0.00 | 27.50 | +0.00 | | JAN | 27.50 | +0.00 | 29.50 | +0.00 | | FEB | 27.50 | +0.00 | 29.50 | +0.00 | | MAR | 27.25 | +0.00 | 27.75 | +0.00 | | APR | 27.25 | +0.00 | 27.75 | +0.00 | | MAY | 29.75 | +0.00 | 31.25 | +0.00 | | JUN | 39.00 | +0.00 | 41.25 | +0.00 | | JUL | 50.00 | +0.00 | 54.75 | +0.00 | | AUG | 50.00 | +0.00 | 54.75 | +0.00 | | SEP | 26.00 | +0.00 | 28.15 | +0.00 | ----------------------------------------------------------- POWER FUTURES | Month | PJM | Change | | OCT | 29.70 | +0.00 | | NOV | 28.90 | +0.00 | | DEC | 32.00 | +0.00 | | JAN | 36.00 | +0.00 | | FEB | 36.00 | +0.00 | | MAR | 32.50 | +0.00 | | APR | 32.50 | +0.00 | | MAY | 33.75 | +0.00 | | JUN | 44.25 | +0.00 | | JUL | 59.75 | +0.00 | | AUG | 59.75 | +0.00 | | SEP | 32.00 | +0.00 | ------------------------------------------------------------ Natural Gas NYMEX Volume 01NOV 623 01DEC 0 02JAN 95 02FEB 0=20 02MAR 50 02APR 2 02MAY 0 02JUN 0 02JLY 0 02AUG 0 02SEP 2 02OCT 0 02NOV 0 02DEC 9 03JAN 5 03FEB 0 03MAR 0 03APR 2=20 03MAY 0 03JUN 0 03JLY 0 03AUG 0=20 03SEP 0 03OCT 0 ----------------------------------------------------------- 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. 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Attend Gas Technology Institute's Advanced Natural Gas Power Generation Workshop for natural gas = sales/marketing professionals, October 29-November 2, in downtown Chicago. To register online, go to www.gastechnology.org and click on Training & Education. Or call (847) 768-0783, or HTML Use= rs CLICK HERE and text = users please go to ------------------------------------------------------- Today's Power Bulletins * San Juan Coal Fired 498 MW Unit 4 Power Plant in New Mexico Returns to Se= rvice * BP and Cinergy Add New 570 MW Power Plant at Texas City Refinery * Moody's Rates Idaho Power Credit A3 * S&P May Cut Reliant Resources Ratings * Moody's May Raise Orion Power Ratings * Merrill Lynch Raises Investment Rating on Massey Energy to Buy from Accum= ulate 2 Days After Coal Producer Lowers 4th Quarter Estimates * Ballard Announces Commercial Launch of Portable Nexa TM Power Module * Millennium Cell to Demonstrate Fuel System with New Ballard Nexa Fuel Cel= l at Hydrogen Expo in Germany * Westmoreland and Montana-Dakota Utilities Sign Agreement with North Dakot= a Industrial Commission for LV-21 Power Project * Teledyne Energy Systems Completes Initial Testing of 3-Kilowatt Prototype= Stationary Fuel Cell Power System * Cinergy Announces Organizational Changes ------------------------------------------------------- Reliant Acquires Orion=20 Reliant Resources will buy Orion Power Holdings for about $2.9 billion in c= ash. The deal will boost Reliants current generating capacity from 14,100 M= W to 25,100 MW, either currently in operation or under construction. Orion = operates primarily in New York, Ohio and Pennsylvania. The move will provid= e Reliant with some strategically placed assets in the transmission-challen= ged New York City market. Reliant will pay $26.80 per share for Orion, whic= h is about a 40% premium based on its current NYSE price of $19.20 and woul= d assume $1.8 billion of Orion's debt. The purchase will be paid for by cas= h on hand, $400 million of current credit and a new bridge loan of $1.6 - $= 1.8 billion. The acquisition would give Reliant a $7.7 billion market capit= alization. With deregulation and growing demand for power, it is estimated = that at least 180,000 MW of generation capacity will be needed in the US by= 2002. The onset of the retail power market resulted in 16% of the nation's= generation capacity changing hands, and the other 84% may change ownership= over the next 10 years. -------------------------------------------------------- Todays Gas Bulletins * Duke Maintains 2001 Earnings Forecast of 10% - 15% Higher than Last Years= $2.10 per Share * Sasol Chevron Still Waiting for Australian Government Support for Propose= d Multi-Billion Dollar Gas-to-Liquids Plant * Canadian Energy Shares Rebound Pacific Gas and Electric Expects Natural G= as Prices to Decrease More than 50% Over Last October * El Paso Energy Partners Extends Expiration Date of Exchange Offer Relatin= g to 8.5% Senior Subordinated Notes Due 2011 * ANWR Exploration Gains Support as Need for Energy Policy is Top Issue * Westcoast Energy Converts Preferred Shares * Sasol to Spend $1 Billion Over the Next 2 Years as Part of Growth Plan ------------------------------------------------------- Energy Sponsor Become the Official Sponsor of the Enerfax Publications. This unique opport= unity is limited to one special company or organization. For more informati= on please write=20 sponsor@enerfax.com This advertisement will be viewed over 5 million times during the year. It = will be seen on our web and in the 20,000 emails sent out each business day= . A 3x 4.5 ad space or banner on the web which includes 15 lines in the tex= t versio, begins at $1000 for the entire month. Write Advertise@enerfax.com= ------------------------------------------------------- SUNGARD Solutions for Success in Energy Trading Epsilon and Panorama Energy Risk and complexity are inevitable components of every trading transaction = within today's volatile energy market. Having the right tools to manage and= control those risks has become a determining success factor. SunGard provi= des those tools with Epsilon and Panorama Energy - comprehensive solutions = designed to create measurable competitive advantages for energy trading org= anizations and utility companies worldwide. To receive more information or a free demonstration, we invite you to conta= ct us at 713-266-7771 or visit our web site at -------------------------------------------------------- Former Trinity CEO Pleads Guilty Sidney Sers, Trinity Gas former chief executive, has pled guilty to money l= aundering and obstruction of justice charges and could face life in prison = and a $15 million fine. Sers admits to transferring $800,000 made in violat= ion of 1997 and 1998 court orders. The charges stem from a SEC probe of Ser= s and Trinity. Both were charged with bilking investors out of millions of = dollars by issuing a number of false and misleading statements intended to = boost the company's shares, allowing officers to sell stock at inflated pri= ces. A sentencing date has not yet been set. Sers transferred Trinity share= s to a Cayman Island bank account from a Louisiana account bearing his daug= hter's name. He admitted laundering those proceeds to Columbia, where he li= ved as a fugitive in 1998. He also admitted converting $100,000 into cashie= rs checks.=20 -------------------------------------------------------- Ziff Energy Group presents the North American Gas Strategies Conference November 5 7 Calgary=20 The Future of Western Canada's Gas Supply: Stretched to the Limit? & e-Solutions: Next Generation Concepts for the E&P Sector Join us for frank, in-depth discussion on the future of the Western Canada = Sedimentary Basin. Top Canadian & U.S. gas industry leaders will address ur= gent concerns.=20 Day 1: Gas Outlook 2002: Supply, Pipelines, Markets, Price Outlook Day 2: Western Canadian Gas Supply Featuring speakers such as: Ed Weber, Chairman, Reliability Assessment, ERC Don Albon, Senior Vice Pres= ident Aquila Capital & Trade Ken Vollman, Chairman & CEO National Energy Board Terry Schmidtke, GM Great Plains Business Unit PanCanadian=20 Ted Bogle, VP Exploration Talisman Energy Ken Sinclair, Chair Coalbed Methane Association Graeme Phipps, VP Exploration - Petro-Canada Nellie Cournoyea, Chair & CEO Inuvialuit Regional Corporation Executive Roundtable 6 CEOs from Canada & US discuss the outlook for the Western Canadian Basin. Including: Anadarko, Burlington Resources,=20 Apache Canada, PanCanadian, Compton and Conoco. Plus Day 3: eSolutions: Next Generation Concepts for the E&P Sector Register for One, Two or Three Days = =20 or call 1-800-853-6252 -------------------------------------------------------- Exelon Lowers 3rd Quarter Earnings Forecast=20 Exelon said 3rd quarter profit will be about 25% below forecasts due to low= er demand for electricity. With the downturn in the nations economy, electr= icity usage by manufacturers has dropped, and with milder temperatures than= expected, air conditioning use slumped during the summer. Exelon was forme= d when Peco Energy merged with Unicom. The company's ComEd and Peco Energy = utilities have about 5 million electricity customers in northern Illinois a= nd southeastern Pennsylvania. Peco also sells natural gas to 425,000 custom= ers in the Philadelphia area. Since Exelon has few plants that burn natural= gas, it has not been able to take advantage of falling prices. Exelon expe= cts to earn $1.10 to $1.20 per share, lowered from predictions of $1.35 to = $1.80 per share. Analysts had forecast a profit of $1.57. Exelon stock fell= $5.95 to $44.50, dropping about $1.9 billion from its market value. Its sh= ares have dropped 37% this year.=20 -------------------------------------------------------- ZIFF ENERGY GROUP: NEW INDEPENDENT STUDY=20 NORTHERN GAS PROSPECTS and IMPACTS Ziff Energy Fundamental Analysis + Scenario Analysis utilizing GPCM Model This 160+ page comprehensive multi-client assessment focuses on the critica= l issues and challenges facing the commercialization of the Northern gas in= Alaska and the Canadian Mackensie Delta area and the impact of this gas on= the North American natural gas market. ? Timing and volume scenarios for these new deliveries ? Impact on North American Markets - target markets=20 ? Pipeline Infrastructure: Flow Dynamics - Capacity Needs ? Critical Regulatory Issues ? Impact on key North America Gas Prices. These assessments will answer your questions and provide our independent un= biased insight and commentary on this "mega" natural gas supply.=20 To subscribe or for more information, please call toll free Ron Ford in Hou= ston at 1-888-736-5780 e-mail to: rford@ziffenergy. or Bill Gwozd in Calgary at 1-800-853-6252 e-mail to: bgwozd@ziffenergy.com =20 Visit our website at http:// to preview our marketing brochure. ---------------------------------------------------------- Williston Basin Plans New Pipeline Williston Basin Interstate Pipeline plans to file for FERC approval to buil= d 245 miles of 16-inch natural gas pipeline across parts Wyoming, Montana a= nd North Dakota. The pipeline, expected to begin north of Gillette, Wyoming= and end south of Killdeer, North Dakota, initially would be capable of tra= nsporting from 80 - 120 MMcf per day. Additional transportation capacity co= uld be added incrementally as natural gas production grows. Initially, the = pipeline is expected to have 3 large compressor stations - one on the south= end of the route in Wyoming, another in eastern Montana and the third in N= orth Dakota. Additional transportation capacity through the pipeline can be= made available by adding more compression facilities. The pipeline would t= ransport volumes from developing coal-bed and conventional natural gas prod= uction in central Wyoming and south central Montana to interconnecting pipe= lines that will transport it to large Midwestern markets. The selection of = the pipeline's route is nearly complete and initial surveying work has begu= n. After FERC approval, construction could begin in third quarter of 2002, = with transportation service slated to begin in late 2002.=20 -------------------------------------------------------- YOU DESIGNED IT. WE BUILT IT. ZaiNet GasMaster II Today's most comprehensive gas trading, scheduling and accounting system. CAMINUS Your Competitive Edge in Energy Call us at (212)515-3700 or visit us at the website ------------------------------------------------------- Gulf of Mexico Natural Gas Volumes Declining The Gulf of Mexico will remain an important source for natural gas, but is = unlikely to meet projected soaring demand in the next few years. Since the = mid-1980s the focus has shifted increasingly to deeper waters which yield m= ore oil than natural gas. While the shallow water of the continental shelf = contain twice as much natural gas as oil, that is reversed in water depths = of 1,000 feet or more. The National Petroleum Council forecasts annual dema= nd will rise to 29 Tcf by 2010 from about 23 Tcf now. According to the MMS,= natural gas production in the Gulf of Mexico has fallen steadily from a pe= ak of 5.14 Tcf in 1997 to 4.9 Tcf in 2000. During that period ,deepwater na= tural gas production actually rose to 980 Bcf from 380 Bcf, but not enough = to offset the larger drop in shallow water production. The MMS forecasts a = wide range of possibilities for the future, with total Gulf of Mexico outpu= t possibly falling up to 16% by 2005 or rising as high as 24%. In an effort= to increase production, the MMS has introduced royalty relief for companie= s that drill very deep wells in the shallow waters. Although the shallow wa= ters have been thoroughly explored, very few wells have been drilled to 15,= 000 feet or deeper. The MMS estimates there could be up to 20 Tcf of recove= rable reserves of deep wells. The Rocky Mountain region and Canada represen= t the best opportunities to increase natural gas supplies, possibly sustain= ing annual demand of 24 Tcf. But much of the estimated 177 Tcf in the Rocki= es is off-limits to drilling.=20 ----------------------------------------------------- Energy Jobs=20 Whether you are actively looking for a job, or want to explore opportunitie= s in the energy industry, go to www.energyjobs.com. At Energyjobs.com, your= job hunting is made easy, convenient and confidential. Conduct your own se= arch or participate in our Job Match feature, which accurately matches your= qualifications, experience and requirements to any new job that appears, a= nd then sends you an e-mail notification! Best of all, membership > is FREE= . To register and become a member, simply go to or log on to and select "Become a Member" under the Jobseeker= header. -------------------------------------------------------- Progas Storage Services, Inc Was recently organized to offer specialized natural gas storage services to= marketers and end users servicing the upper Midwest and Northeast market r= egions along the major transmission systems in Indiana, Illinois, Kentucky,= and Michigan. PGSMI has 10 bcf of potential working capacity which will of= fer service along TXG, ANR, Midwestern, and is currently evaluating for pur= chase another 21 bcf of potential working capacity which can be serviced by= these and other systems in the region. PGSMI also explores for natural gas= in the Gulf Coast region through a wholly owned subsidiary. Progas intends= to go public through a route of private industry offerings, and an IPO or = registration. For more information on services or the company mail to: gast= orage@aol.com or for AOL mail to gastorage@aol.com ; web site currently under construction at: . The company's executive and administrative office is located in Abilene, Te= xas with storage operations in Owensboro, KY and exploration operations in = Corpus Christi, TX. Progas Storage Services, Inc=20 8610 S. Hwy 277 Abilene, TX 79606 Ph 915 698 3699 Fx 915 698 2859 -------------------------------------------------------- Pure Text or Lotus & AOL Readers-subscribe by going to: HTML,Outlook Email, Readers-subscribe by writing -------------------------------------------------------- FINANCIAL SUMMARY The TSE 300 gained 14.62 points to 6669.45 The CRB Index increased 0.61 points to 191.18 The US Dollar advanced 0.91 points to 113.26 The Dow rose 112.58 points to 8681.42 The S&P 500 gained 11.57 points to 1018.61 The Nasdaq was down 3.33 points to 1460.71 September NYMEX Crude Oil rose 0.36 to 22.74 Canadian-US Exchange climbed .0064 to 1.5793 ------------------------------------------------------ Please welcome our advertisers by visiting these websites. http://risk.sungard.com/energy =20 Enerfax Daily is North America's gas and power information source. it is se= nt to you free of charge. Enerfax Daily may be copied and redistributed in = its entirety to all interested energy professionals.Please e-mail us at sub= scribe@enerfax.com . with the e-mail addresse= s of other energy professionals that would like to be added to Enerfax Dail= y's growing distribution list of thousands of energy professionals in the U= S and Canada, or to be removed. The information contained herein was obtain= ed from sources which Enerfax Daily believes to be reliable, but does not g= uarantee its accuracy. Your support of our advertisers is greatly appreciat= ed and will keep Enerfax Daily free. Thank you. Your comments are welcome. 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