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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Douglas V. Fant who wrote (51969)	9/28/1999 2:01:00 AM
From: Think4Yourself	Respond to of 95453

Some interesting news from the canadian front :-)) Canadian Spot Crude Oil Prices at Steep Premiums to Postings, According To Petroleum Argus > HOUSTON, Sept. 22 /PRNewswire/ -- Prices for light and heavy crude in Canada are being talked at hefty premiums to producers' posted prices following the active "bid week" trading period, according to the new Argus Americas Crude Report (http://www.petroleumargus.com/aacr). Canadian differentials to US marker crude WTI are also considered stronger than normal for this time of year. Light sweet crude in Alberta was talked at 25 cents/barrel over postings on Tuesday. The 10-day shutdown of Suncor's processing units and the reduction of Syncrude output were seen bolstering the value of Canadian sweet crudes. The spread between US WTI and North Sea Brent, which has been narrow for much of the October trading period, has also given Canadian sweet grades a competitive advantage in eastern Canada and the US markets. The daily Argus Americas Crude Report also reported Tuesday that Heavy Bow River crude was talked at a 25 cent/barrel premium to postings, as was Lloyd Blend, which competes directly with Mexico's Maya crude in the Chicago area refining market. Heavy values also gained support from purchases to fill the new Terrace II pipeline project. Declining output on western Canadian grades is expected to keep values high versus WTI in the near term.

To: Douglas V. Fant who wrote (51969)	9/28/1999 10:23:00 AM
From: dfloydr	Read Replies (1) \| Respond to of 95453

Woa, Doug: << So NG demand is there, yet deliverability has faded, and not enough rigs are currently running either onshore or offshore to maintain current production/deliverability.... >> Please explain what you mean by "deliverability"? Do you mean the gas ain't there to deliver? Or the pipelines are at capacity and additional sales will have to wait for a chance to get piped to customers? As I see it, if the demand is there and you either ain't got it or can not get it to me, I would expect price to rise.