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Industry Briefs

Industry Briefs

Providence Energy subsidiary ProvGas is providing remote system control and monitoring services for the Portland Natural Gas Transmission System (PNGTS) - a new 272-mile pipeline that runs from Quebec to Massachusetts. ProvGas began providing 24-hour remote electronic monitoring of the pipeline from its Allens Avenue facility shortly after the pipeline began operating on March 10. ProvGas will monitor the pipeline using a sophisticated Systems Control and Data Acquisition (SCADA) system to watch the portion of the pipeline that runs from Pittsburgh, NH, on the Quebec border, to Westbrook, ME. The line can transport 178 MMcf/d of gas.

Columbia Natural Resources closed its previously announced acquisition of The Wiser Oil Co.'s Appalachian Basin production and gathering assets. The transaction is valued at $28 million. CNR purchased working interest in 487 natural gas and oil wells, more than 100,000 net acres of developed and undeveloped property and a natural gas gathering system. The assets are located primarily in southeastern Kentucky and central West Virginia. Current production from the acquired assets on a net revenue basis is 8 MMcf/d. The transaction includes 42.7 Bcfe of proved reserves, which increases CNR's reserve base to 844 Bcfe.

ISO New England began operating a virtual trading floor via the Internet May 1 for New England's wholesale electricity market. Up to 130 electricity generators, suppliers, marketers, brokers and load aggregators are now using the Internet to trade for electricity supply and services across the six-state region. ISO New England, Andersen Consulting and ALSTOM ESCA worked jointly over the last two years to create the market, operations, administrative and business systems and technology infrastructure to operate a competitive market for power in New England. The systems designed for ISO New England give the ISO the ability to receive bids and contracts for energy and related services from participating organizations, use these bids to schedule and dispatch energy, support settlements and billing for market services and to publish reports detailing market and participant-specific activities. The system is real-time and provides hourly clearing prices, daily settlements and monthly invoices.

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