Duke Energy Corporation’s (DUK) utility subsidiary Duke Energy Kentucky reached a settlement agreement with the Kentucky Attorney General in its natural gas rate case.   Under the settlement agreement, Duke Energy has asked the Kentucky Public Service Commission to approve the negotiated rate increase for natural gas delivery service of approximately $13 million, or 10.4% on total gas revenues, to be effective early 2010. The original request was for $17.5 million, or a 14% increase.  For an average residential customer using 70 ccf (ccf is 100 cubic feet) of natural gas per month, a typical monthly bill of $82.21 will increase by $11.52 to $93.73.  Since its last natural gas delivery rate case implemented in 2006, Duke Energy Kentucky has invested more than $60 million to continue the accelerated gas main replacement program (AMRP), which has been a major reliability and safety initiative for the company's ...

Duke Energy Corporation’s (DUK) utility subsidiary Duke Energy Kentucky reached a settlement agreement with the Kentucky Attorney General in its natural gas rate case.   Under the settlement agreement, Duke Energy has asked the Kentucky Public Service Commission to approve the negotiated rate increase for natural gas delivery service of approximately $13 million, or 10.4% on total gas revenues, to be effective early 2010. The original request was for $17.5 million, or a 14% increase.  For an average residential customer using 70 ccf (ccf is 100 cubic feet) of natural gas per month, a typical monthly bill of $82.21 will increase by $11.52 to $93.73.  Since its last natural gas delivery rate case implemented in 2006, Duke Energy Kentucky has invested more than $60 million to continue the accelerated gas main replacement program (AMRP), which has been a major reliability and safety initiative for the company's ...

We are initiating coverage on SCANA Corp. (SCG) with a Neutral recommendation and a target price of $36. Our rating stems from the early-stage nature of the company’s nuclear generation project and potential dilution risk coming from its plan to move equity from debt.

However, potential for positive earnings momentum with modest growth is expected to continue through the utility’s regulated and historically stable electric and gas operations. The company’s nuclear expansion project is a potential catalyst for long-term earnings growth.

In the second quarter, SCANA reported earnings of 45 cents per share, beating the Zacks Consensus Estimate of 43 cents. The favorable comparison was driven by lower operating costs and customer growth.

During the first half of 2009, SCANA’s two principal subsidiaries, South Carolina Electric & Gas Co. (SCE&G) and Public Service Co. of North Carolina, saw natural gas customer growth of 1.3% and 1.6%, respectively. SCE&G’s

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Pennsylvania-based CONSOL Energy (CNX) is a multi-fuel energy producer as well as energy services provider, primarily catering to the U.S. power producers. Its deep and diversified portfolio, largely comprising of coal and natural gas, provides the company with significant long-term growth potential. Its low-volatile metallurgical coal and high-Btu steam coal command premium prices even in a constrained commodity environment and the low-risk, low-cost gas operations diversify the energy portfolio and provides steady cash flow. CONSOL Energy is the largest and one of the low-cost coal producers in the northern Appalachia basin. This gives the company a much less-risky operating profile relative to other eastern producers heavily levered to the central Appalachia region, which faces stiffer regulations and operational hazards. CONSOL Energy has a strong balance sheet, with low debt and sufficient liquidity. The company ended the second quarter of 2009 with 100.7 million of cash and $360.8 ...

Today, Megellan Petroleum announced that it has appointed William H. Hastings as its new President and CEO. Daniel J. Samela has resigned as Acting President and CEO and will assum the roles of CFO, Chief Accounting Officer and Treasurer. The company also announced changes to its Board of Directors.

Walter McCann, Magellan’s Chairman of the Board, stated, “Magellan’s Board is very pleased to have Bill Hastings assume the positions of President and CEO. Bill brings more than twenty-seven years of proven experience in the successful development of oil and natural gas reserves and also in the management of commercial gas operations, both in the U.S. and overseas, for Marathon Oil Company and other energy concerns.”

“Magellan’s acquisition of a 100% interest in our Magellan Petroleum Australia (MPAL) subsidiary two years ago was a major milestone in our Company’s history. We now look to Bill to lead Magellan’s diversification and to build

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In the natural resources exploration and development game, the process of discovering natural resources usually requires long months of exploration and development. Exploration tracts are generally large and picked over, dictating months of research and application of new technology to find positive results. Every once in a while, however, a company hits pay dirt on its first effort. If an investor pays close attention to the natural resources market, they may come across a company that has gotten lucky with a quick and profitable find.

Emvelco Inc., a recently formed (2008) oil and gas company, works to explore and exploit gas and oil deposits primarily in West Texas. Through its wholly owned subsidiary, Davy Crockett Gas Company, the company has had tremendous success with its first gas well (in a joint venture with Vortex Ocean One.) In addition to its gas activities, the company also owns and manages real estate

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