FERC on Tuesday said it will issue on Nov. 18 proposed regulations governing the conduct of open seasons for the Alaska Natural Gas Transportation System. The Commission’s action comes nearly two weeks after President Bush signed into law a bill that provides for an $18 billion federal loan guarantee for the construction of the remaining 1,600 miles of the project. The public would have until Dec. 17 to comment on FERC’s notice of proposed rulemaking, with issuance of a final rule scheduled for Feb. 9. The Commission also plans to hold a technical conference around Dec. 6-10 at a site to be determined in Alaska to receive comment on the proposed open-season regulations.

EOG Resources said its third-quarter net income rose 48% as production increased 12% compared to third quarter 2003 levels. The company earned $169.6 million, or $1.42/share, up from $114.7 million, or 99 cents/share. Excluding certain items, EOG earned $134.1 million, or $1.12/share compared to analysts’s estimates of $1.02/share. Sales rose 30% to $594.2 million from $458.7 million, driven by higher production Trinidad and the North Sea off of Britain. Based on the results, EOG now expects production growth of 9.5% for the year up from a previous forecast of 9%.

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