• Last Price: 6.220
• Open Price: 5.880
• Day High: 6.250
• Day Low: 5.870

Market Quotes by: DTN Market Access

• EIA report for week ending 04/23/04 : 1155 Bcf
• EIA weekly change: +78 Bcf
• Enercast prediction for week ending 04/30/04 : 1251 Bcf
• Enercast predicted weekly change: +96 Bcf

• CME Summer Weather Futures Warm as PJM Futures Rally
  (CHICAGO 5/3 Enercast.com) Weather traders continue to value the May-September summer strip contracts warmer than the 10 year average suggesting bullish summer weather conditions.
• Weather Futures Heats Up in the South; Other Regions Soften
  (CHICAGO 5/3 Enercast.com) Weather futures heat up in the South while Northeast, Midwest, and West futures soften. Weather futures sharply warmed up the South with traders eyeing new forecasts showing a building ridge in the region.
• Monday Enercast Weather Update
  (DENVER 5/3 Enercast.com) After a cool and in some places wet start to the week in the East, the weather across much of the nation this week will be warm and mainly dry as a broad upper level ridge encompasses much of the country.

• LNG Developer Eyeing Southern Maine
  5/3 -- AUGUSTA - The company that had its eyes on Harpswell as a port for a liquefied natural gas terminal is focusing on southern Maine, the state's economic development chief says.
• Brookfield Properties Chooses Power Measurement for Enterprise Energy Management
  VICTORIA, BC (May 3, 2004) Brookfield Properties - one of North America's largest real estate companies - has chosen an enterprise energy management ("EEM") system from Power Measurement to control energy costs, automate tenant billing, and improve operational efficiencies throughout its nationwide portfolio of Canadian commercial office properties.
• Oil Mkts Well-Supplied In 3Q If OPEC Maintains Output-UAE
  DUBAI, May 03, 2004 (ODJ Select via COMTEX) -- (Dow Jones)--Global oil markets should remain well-supplied in the third quarter of this year if OPEC maintains its current levels of crude output, a UAE oil official said Monday.

• US high court won't rule on TVA utility emissions
  WASHINGTON, May 3 (Reuters) - The U.S. Supreme Court on Monday declined to review a lower court's decision allowing the Tennessee Valley Authority to ignore a government order to clean up pollution from its coal-fired power plants.
• El Paso faults employees for reserve estimates
  NEW YORK, May 3 (Reuters) - Some El Paso Corp. employees may knowingly have used incorrect estimates to boost proven natural gas reserves over four years, the natural gas pipeline operator said on Monday.
• El Paso reports questionable booking of reserves
  NEW YORK, May 3 (Reuters) -Some El Paso Corp. employees used aggressive and unsupportable methods to book natural gas reserves, the company said on Monday, citing findings from an independent review.

• NYMEX natgas ends up sharply with crude, technicals
  NEW YORK, May 3 (Reuters) - NYMEX natural gas futures ended sharply higher on Monday, driven by a strong rally in crude, steady technical buying after an early break of resistance and concerns about hot summer forecasts that could strain supplies, industry sources said.
• NYMEX gasoline and crude end higher amid security fears
  NEW YORK, May 3 (Reuters) - NYMEX gasoline futures posted another all-time record high and crude oil futures rose sharply on Monday as security fears and U.S. gasoline supply concerns fueled a rally, traders said.
• NYMEX June natgas hits contract high on summer worry
  NEW YORK, May 3 (Reuters) - NYMEX June natural gas futures climbed to a new contract high at midday Monday, driven by firmer crude oil and concerns about a hot summer that could strain supplies despite an inventory surplus to last year, gas traders said.
• NYMEX natgas seen higher with OTC, stronger cash
  NEW YORK, May 3 (Reuters) - NYMEX natural gas futures were expected to open up about 2 to 3 cents higher early Monday, in line with over-the-counter trade and stronger cash gas prices on a return to weekday trade, gas traders said.
• NYMEX crude rises early on Saudi security concerns
  NEW YORK, May 3 (Reuters) - NYMEX crude oil futures opened higher Monday after a weekend attack on a Saudi Arabian refinery added to security fears even as an OPEC minister said the cartel could raise its third-quarter quotas.
• NYMEX crude to rise amid Saudi security concerns
  NEW YORK, May 3 (Reuters) - NYMEX crude oil futures were called higher on Monday as an attack at the weekend on a Saudi Arabian refinery added to security fears even as an OPEC minister said the cartel could raise its third quarter quotas.
• NYMEX natgas seen higher with OTC, stronger cash
  NEW YORK, May 3 (Reuters) - NYMEX natural gas futures were expected to open up about 2 to 3 cents higher early Monday, in line with over-the-counter trade and stronger cash gas prices on a return to weekday trade, gas traders said.

• Williams Cos wins $1 bln revolving credit facility
  NEW YORK, May 3 (Reuters) - Natural gas company Williams Cos. Inc. on Monday said it has a new three-year, $1 billion revolving credit facility, primarily for general corporate purposes and issuing letters of credit.
• PSEG unit files $2.5 bln mixed shelf
  WASHINGTON, May 3 (Reuters) - Public Service Electric and Gas Co. a unit of Public Service Enterprise Group Inc. , on Monday filed with the U.S. Securities and Exchange Commission to periodically sell up to $2.5 billion in debt securities and preferred stock.
• Dominion shut Va. North Anna 2 nuke for refuel
  NEW YORK, May 3 (Reuters) - Dominion Resources Inc. said Monday its 921 megawatt North Anna 2 nuclear unit in Virginia shut over the weekend for refueling.
• Halliburton wins $130 mln drilling contract
  NEW YORK, May 3 (Reuters) - Halliburton Co. has won a three-year, $130 million contract to provide drilling services in the North Sea to ConocoPhillips , the No. 2 oilfield services company said on Monday. A spokeswoman for the Houston company said that if ConocoPhillips, the No. 3 U.S. oil company, exercised two additional options on the contract for up to three years each, the total value would be $390 million.
• Talisman Energy Acquires North Sea Core Area Interests from Intrepid
  CALGARY, Alberta, May 3, 2004 (BUSINESS WIRE) -- Talisman Energy (UK) Limited, a wholly-owned subsidiary of Talisman Energy Inc. (NYSE:TLM) (TSX:TLM), has completed the acquisition of the Flotta Catchment Area (FCA) interests of the Intrepid Energy group at a price of US$137.5 million at January 1, adjusted for subsequent cash flows.
• Galaxy Energy Subsidiary Acquires Additional Coalbed Natural Gas Interests in Wyoming
  DENVER, CO, May 03, 2004 (CNW Telbec via COMTEX) -- Galaxy Energy Corporation's (OTC BB: GAXI) wholly owned subsidiary Dolphin Energy has acquired various working interests in approximately 27,900 net acres adjacent to and in the vicinity of its Leiter Estate, Horse Hill, Buffalo Run East, and Pipeline Ridge
• NRG says seeks to replace PricewaterhouseCoopers
  NEW YORK, May 3 (Reuters) - NRG Energy Inc. is searching for a new independent auditor because the current one, PricewaterhouseCoopers, has decided not to stand for re-election, the power producer said on Monday.
• XTO Energy buying Exxon Mobil oil, gas properties
  NEW YORK, May 3 (Reuters) - XTO Energy Inc. has agreed to pay Exxon Mobil Corp. $336 million to $341 million for oil and gas properties in West Texas and Wyoming, expanding its operations and helping to meet its oil production growth estimate of 35 percent this year, XTO said on Monday.
• Wisconsin Energy 1st-qtr profit slips
  NEW YORK, May 3 (Reuters) - Integrated utility Wisconsin Energy Corp. on Monday reported a slightly lower quarterly profit after taking a debt-redemption charge and suffering milder weather than a year ago.
• DPL suspends dividend until review completed
  NEW YORK, April 30 (Reuters) - Ohio power company DPL Inc. on Friday said it would suspend paying a dividend until its audit committee completes a review into concerns raised by a senior executive.

• Alaskan Pipeline Proponents Determined
  By Ken Silverstein
  If the Alaskan pipeline is to be built, more natural gas has to be discovered. An estimated 35 trillion cubic feet of known reserves are currently available but about 50 trillion cubic feet is needed to earn a fair return on the pipeline's projected cost of $20 billion. British Petroleum, Exxon Mobil and ConocoPhillips would all like to build a pipeline—under the right economic conditions. While they have supported no specific financial incentive proposal, they have said that the estimated 10-11 percent projected returns are too little to take on the risks. They support federal tax incentives if the price of natural gas were to fall below $3.25 per million BTUs.
• The Energy Report for Monday, May 3, 2004
  By Phil Flynn
  Monday, May 3, 2004 Put your hands up! Today's Financial Times reports on the China commodity syndrome and whether or not China's recent efforts to subdue commodity demand will be effective. The FT speaks of the visible and invisible hand in the Chinese economy and asks if it's vulnerable to a meltdown. Can China's more restrictive intervention succeed in bringing the expansion under control? The Financial Times asks this question. Apparently when the Chinese Premier made mention of slowing the economy, it was met with
• Commodity Prices and the Very Bullish Case For Oil
  By Marc Faber
  In the past, I have frequently discussed long-term price cycles and observed, based on research carried out by economists such as Nikolai Kondratieff among many others, that these long waves last between 45 and 60 years, with each rising and declining price wave lasting around 22 to 30 years. These long price cycles are well supported by historical price statistics of the 19th and 20th centuries.