Abandoned

An attempt to score a quick tax-cut coup has been quietly abandoned by TransCanada PipeLines Ltd., which beat a retreat from a public airing of its political agenda in a potentially lengthy regulatory case. The company said it would hold off action on the case pending the report of a federal-provincial task force which is considering changes in the overall pipeline regulatory regime.

Aspect Resources LLC of Denver, CO abandoned its plans to cap a10,000-foot blown-out natural gas well in Anahuac, TX, yesterday,opting instead to install a flare to burn off the escaping gas.Crews had tried unsuccessfully through the day Wednesday and intothe early morning yesterday to cap the well, which has spewednatural gas since a blowout during drilling last Saturday.

Saying it wants to focus on its core gas business, PhiladelphiaGas Works (PGW) has abandoned its entry into electricity marketingand several other retail marketing ventures and will reduce thesize of its marketing staff. PGW is the nation’s largestmunicipally owned utility.