Newspaper article THE JOURNAL RECORD

Natural Gas Spot Prices Down 35% for Quarter

Newspaper article THE JOURNAL RECORD

Natural Gas Spot Prices Down 35% for Quarter

Article excerpt

Oklahoma's average natural gas spot prices for the first quarter of 1995 were 35 percent lower than the same period a year earlier, according to a Houston survey released Tuesday.

The state average during the quarter was $1.32 per million British thermal units, 70 cents less than $2.02 during the first quarter of 1994.

Oklahoma's first quarter average was 8 cents below the overall average for the period, according to the survey conducted by Natural Gas Clearinghouse in Houston. The survey monitors 18 pipelines in Oklahoma, Texas, Louisiana and Wyoming.

The overall average price of $1.40 per million Btu was 72 cents, or 34 percent, below $2.12 for the first quarter of 1994, according to Kenneth E. Randolph, vice president of the natural gas marketing firm.

According to Randolph, the overall average price was down 39 cents compared with $1.79 per million Btu during the same period in 1993. However, the average price was 14 cents higher than $1.26 per million Btu for the first quarter of 1992 when spot gas prices were at a record low, he said.

March prices remained relatively flat, according to Randolph. However, prices were down considerably compared with the same month a year ago.

Natural gas spot prices in Oklahoma for the month averaged $1.25 per million Btu, unchanged from February. The state average was down 82 cents, or 40 percent, compared with March 1994.

Oklahoma March spot prices on a per million British thermal units basis were: ANR in Custer County _ $1.25, unchanged from February but down 85 cents from $2.10 in March 1994. Northern Natural in Beaver County _ $1.20, unchanged from February but down compared with $2.05 in March 1994. Oklahoma Natural Gas statewide _ $1.30, unchanged from last month but down from $2.05 in March 1994. Panhandle Eastern in Beaver County _ $1.25, unchanged from February but lower than $2.10 a year ago.

The state average in spot gas prices for March was 9 cents lower than the overall average price of $1. …

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