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Briefs -- Millennium Upgrade, Blue Wolf, K2 Energy

FERC staff said it would prepare an environmental assessment (EA) for Millennium Pipeline Co.'s proposed Eastern System Upgrade project [PF16-3]. Millennium plans to construct and operate about 7.8 miles of 30- and 36-inch diameter pipeline loop in Orange County, NY to transport natural gas from the existing Corning Compressor Station to an existing interconnect with Algonquin Gas Transmission in Ramapo, NY. Millennium would also build a compressor station in Sullivan County, NY, install additional compression at the Hancock Compressor Station in Delaware County, NY, and modify the Westtown Meter Station in Orange County and at the Ramapo Meter Station in Rockland County, NY. The project is designed to transport about 200,000 Dth/d of additional natural gas service. FERC is accepting comments through June 10.

An affiliate of New York-based Blue Wolf Capital Partners LLC is joining forces with K2 Energy Capital LLC to pursue investments in the energy services arena. K2 founder Kevin W. Kuykendall co-founded the Enron North America Principal Investments Group and went on to form American Capital Ltd.'s energy group. "Ongoing weak commodity prices have caused severe distress across significant swaths of the energy sector," Kuykendall said. "For seasoned investors with committed capital and access to both restructuring and operating expertise, a broad range of opportunities exists to invest in energy-related companies at attractive valuations and expand those companies significantly as the energy sector begins to recover." Blue Wolf specializes in middle market company investments, while Dallas-based K2 targets transactions in the energy services sector, including oilfield services, utility services and equipment manufacturing.

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