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2017

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Former Enron Corp. CEO Jeffrey Skilling, 59, reached agreement with the U.S. Department of Justice that could allow him to be free as soon as 2017, according to a court filing. Skilling agreed to waive his rights to any further appeals and would allow more than $40 million of forfeited assets to be distributed to victims of Enron’s colossal collapse in 2001. Skilling was convicted in 2006 by a Houston jury on 19 criminal counts and originally was sentenced to federal prison for 24 years and four months (see NGI, May 29, 2006). The U.S. Court of Appeals for the Fifth Circuit in New Orleans twice said the sentence had been miscalculated (see NGI, April 11, 2011). “Although the recommended sentence for Jeff would still be more than double any other Enron defendant, all of whom have long been out of prison, Jeff will at least have the chance to get back a meaningful part of his life,” said Skilling attorney Daniel M. Petrocelli.

May 13, 2013

People

Former Enron Corp. CEO Jeffrey Skilling, 59, has reached agreement with the U.S. Department of Justice that could allow him to be free as soon as 2017, according to a court filing. Under the agreement, Skilling is waiving his rights to any further appeals and would allow more than $40 million of his forfeited assets to be distributed to victims of Enron’s colossal collapse in 2001. Skilling was convicted in 2006 by a Houston jury on 19 criminal counts and originally was sentenced to federal prison for 24 years and four months (see NGI, May 29, 2006). The U.S. Court of Appeals for the Fifth Circuit in New Orleans twice said the sentence had been miscalculated by the district court (see NGI, April 11, 2011). “The proposed agreement brings certainty and finality to a long painful process,” said Skilling lawyer Daniel M. Petrocelli. “Although the recommended sentence for Jeff would still be more than double any other Enron defendant, all of whom have long been out of prison, Jeff will at least have the chance to get back a meaningful part of his life.”

May 9, 2013

Shell CEO: Shale Output Will Continue to Hold Down NatGas Prices

Production from North American shale plays will continue to keep natural gas prices from increasing significantly any time soon, Royal Dutch Shell plc CEO Peter Voser told financial analysts in London Thursday.

February 4, 2013

Environmentalists Seek to Halt Interior OCS Leasing Plan

Environmentalists have filed a lawsuit in Washington, DC, challenging the Interior Department’s final 2012-2017 plan for Outer Continental Shelf (OCS) oil and natural gas leasing, which focuses primarily on the the Gulf of Mexico and potentially offshore areas in Alaska.

December 18, 2012

Dow’s U.S. Shale ‘Feedstock Opportunities’ Seen on Track

Dow Chemical Co. officials on Monday said a comprehensive plan to connect U.S. operations with “cost-advantaged feedstocks” from abundant supplies of domestic shale gas is moving forward and is on track to deliver long-term competitive advantages for the worldwide operations.

December 5, 2012

Pennsylvania DEP Approves First Marcellus Shale Gas Power Plant

The Pennsylvania Department of Environmental Protection (DEP) on Wednesday approved an air quality plan for construction of a gas-fired power plant, the first to be powered, at least in part, by natural gas harvested from the Marcellus Shale.

October 15, 2012

Chevron Ties Output Gains to Deepwater GOM, Australian LNG

Led by massive projects in the deepwater of the Gulf of Mexico (GOM) and Australian liquefied natural gas (LNG), Chevron Corp. is maintaining a production target of 3.3 million boe/d by the end of 2017, executives said Friday.

July 30, 2012

Chevron Ties Output Gains to Deepwater GOM, LNG

Led by massive projects in the deepwater of the Gulf of Mexico (GOM) and Australian liquefied natural gas (LNG), Chevron Corp. is maintaining a production target of 3.3 million boe/d by the end of 2017, executives said Friday. The gains will come even though 2Q2012 worldwide output fell 2.6% year/year to 2.62 million boe/d, Chevron Vice Chairman George Kirkland said during a quarterly earnings conference call.

July 30, 2012

Shell Exec: Decision on Pennsylvania Cracker 18-24 Months Away

Royal Dutch Shell plc will decide within the next 18 to 24 months whether to build an ethane cracker in Beaver County, PA, according to a company executive.

June 12, 2012

Con Ed: Gas Conversions to Grow 3.5% through 2017

Consolidated Edison Co. (Con Ed) of New York is projecting natural gas demand from utility conversions will grow 3.5% through 2017, requiring substantial new pipeline capacity to be up and running, according to the director of the utility’s gas supply.

May 21, 2012
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