The Federal Energy Regulatory Commission has granted Dominion Transmission Inc.'s (DTI) Nov. 29 request for authorization to place into service the Stonewall Metering and Regulating Station in Loudoun County, VA, a part of DTI's Leidy South Project [CP15-492]. A supplemental request to commence service for the remaining Leidy South Project facilities is required, according to FERC. Leidy South would serve new and existing power generation facilities with natural gas traveling from the Leidy Interconnect in Clinton, PA, to points in Loudoun County. Panda Stonewall LLC, Virginia Power Services Energy Corp. Inc. and Mattawoman Energy LLC have signed binding agreements for all of the project capacity. The estimated cost is $209.66 million. DTI filed its application for the project with the Commission in 2015, received a favorable environmental assessment from staff in March and approval in late August.
The New York Stock Exchange (NYSE) Monday told Frisco, TX-based Comstock Resources Inc. that the company is in full compliance with continued listing standards for the exchange. The determination was based on "...consistent and positive performance with respect to the plan the company previously submitted to regain compliance and its achievement of compliance with the minimum market capitalization and shareholders' equity requirements," according to Comstock. The company will be subject to a 12-month follow-up period to ensure continued compliance. Last month Comstock management discussed post-recapitalization plans, which include writing off acreage in the Tuscaloosa Marine Shale and focusing more intently on the Haynesville Shale.
Gulfport Energy Corp. has entered an $87 million agreement to acquire 12,600 net acres in Monroe County, OH, from an undisclosed seller. The undeveloped properties, 50% held by production, are near the company's core position in the Utica Shale. Gulfport said it would fund the transaction with cash on hand. The bolt-on increases its Utica position to more than 223,000 net acres, with nearly 70% in the dry gas window. The sale is expected to close by the end of December.
North Dakota's legislature on Monday unanimously approved the final pieces of proposed rule changes regulating the oil and gas industry that are to be effective Jan. 1. Last month, the state's Industrial Commission (IC) approved held-over rules from the legislature's Rules Committee, clarifying and/or updating bonding, natural gas gathering pipeline, oil and produced water lines and oil/gas facility berm requirements. State lawmakers earlier in the year held over six sections of the rules to clarify their intent and the jurisdiction of the state oil/natural gas division in the Department of Mineral Resources (DMR). The delay provided more certainty for the industry, according to DMR Director Lynn Helms.