For the third straight day, unseasonable weather teamed with afalling futures screen to land a knockout blow on price bulls'chins, as only a few cash points escaped losses of more than adime. A huge swath of high 60- to mid 70-degree temperatures acrossthe Rockies, Gulf Coast, Midcontinent and Northeast eradicated anywinter demand yesterday and caused traders to long for the golfcourse instead of the office. Adding fuel to the fire, forecastsare calling for similar weather for the rest of the week.
FERC issued a certificate for construction of the Unocal Windy Hill bedded salt gas storage facility, which will be constructed in two phases in Morgan County, CO, and connected to the Cheyenne Plains, Colorado Interstate Gas and Public Service Company of Colorado pipeline systems. When fully completed the storage field will provide 6 Bcf of working gas capacity and 400 MMcf/d of deliverability under market-based rates (see Daily GPI, Nov. 9).
Williams reached an agreement to acquire MountainWest Pipelines Holding from Southwest Gas for $1.5 billion in cash and debt. Read what this means for WMB.
Colorado Interstate Gas Co. (CIG) Monday got the green light from FERC to place in service an expansion of its system to serve growing natural gas demand along the Colorado Front Range, particularly in the Denver metropolitan area.