Encana Corp. confirmed Monday that its unlucky C$700 million ($560 million) Deep Panuke venture is poised to sink off the Atlantic seaboard natural gas market, just 56 months after starting up offshore of Nova Scotia.
Articles from Abandon
Denver-based Carbon Natural Gas Co. has acquired 2,300 gas wells and more than 900 miles of gathering pipelines and associated compression facilities in West Virginia for $9 million. Carbon, which targets mostly shallower formations in the Appalachian and Illinois basins, said those wells are producing 9.3 MMcfe/d. In a regulatory filing, Carbon said it purchased the assets from Exco Resources Inc. subsidiaries and the BG Production Co. Carbon acquired a 95% working interest in the wells, boosting its position to 487,000 net acres company-wide. The company said its average production would increase to 15.3 MMcfe/d with the acquisition. Carbon is traded over-the-counter. It entered a new $100 million credit facility to fund the purchase.
The Los Angeles Department of Water and Power (LADWP) gained more political support for a far-reaching plan to abandon its historic reliance on out-of-state coal-fired power generation, and part of the plan includes a switch of coal units to burn natural gas.
FERC has approved Transcontinental Gas Pipe Line’s (Transco) request to abandon four of seven caverns at its Eminence Salt Dome Storage Field in South Central Mississippi.
The Federal Energy Regulatory Commission (FERC) approved Equitrans LP’s request to abandon by sale its Sunrise Pipeline facilities currently under construction to newly created affiliate Sunrise Pipeline LLC, which was formed by Equitrans owner EQT Corp. [CP12-32]. FERC found that Equitrans’ proposed abandonment of the Sunshine facilities is permitted by the “public convenience and necessity.” FERC approved the Pittsburgh-based company’s Sunrise Project in July 2011 (see NGI, Aug. 1, 2011). When completed, the $272 million project would supply the northeastern and Mid-Atlantic states with up to 313,560 Dth/d of Marcellus Shale gas. The Commission approved Equitrans’ request to lease the Sunrise facilities, which would go into effect when it transfers the facilities. FERC also granted a request for pregranted abandonment and amended certificate authority to terminate the lease agreement when it ends in 15 years and to permit Equitrans to “reacquire ownership in fee of the Sunrise facilities.”
FERC Tuesday approved Equitrans LP’s request to abandon by sale its Sunrise Pipeline facilities that are currently under construction to a newly created affiliate, Sunrise Pipeline LLC, which was formed by Equitrans owner EQT Corp.
Calling for more focus and money centered on natural gas pipeline safety, consumer organizations urged California regulators Wednesday to abandon their previous approval of a $1 billion switch to an advanced metering system at Sempra Energy’s Southern California Gas Co. (SoCalGas).
Rescuers on Friday were attempting to reach a life raft containing a 10-member crew that was forced to abandon ship in the fury of Tropical Storm (TS) Nate in the southern Gulf of Mexico. Geokinetics Inc. said three of its workers and seven contractors had been aboard the Trinity II to support an ocean bottom cable project in the Bay of Campeche. The company said the storm disabled the ship Thursday and the crew was last seen boarding a life raft. Houston-based Geokinetics, which performs seismic testing for the oil and gas industry, said rescuers were attempting to reach the crew but were hampered by the inclement weather. “The safety and welfare of our employees is paramount and we are coordinating with maritime authorities to expedite the rescue effort as we continue to gather the facts,” said Geokinetics CEO Richard Miles. Mexico’s state-owned petroleum company, Petroleos Mexicanos (Pemex), said it had dispatched two ships to search for the workers off the coast of Tabasco state.