One month after announcing that it was abandoning a potential partnership strategy to help develop its Eagle Ford Shale acreage in favor of a “go-it-alone plan,” Denver-based Forest Oil Corp. said it has entered into an agreement to sell the majority of its East Texas natural gas gathering assets to a subsidiary of Tristate Midstream II LLC for proceeds of $34 million.
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Talisman Exits Canadian Shale-Based GTL Project
Calgary-based Talisman Energy is abandoning a project it had considered with Sasol Canada to develop Canada’s first gas-to-liquids (GTL) facility to create transportation fuels from natural gas.
Laser Abandons Pennsylvania Public Utility Plans
Laser Northeast Gathering Co. LLC is abandoning its efforts to have a proposed gathering system in northeast Pennsylvania classified as a public utility with the Pennsylvania Public Utility Commission (PUC).
Laser Abandons Public Utility Plans; Peregrine, Pentex Move On
Laser Northeast Gathering Co. LLC is abandoning its efforts to have a proposed gathering system in northeast Pennsylvania classified as a public utility with the Pennsylvania Public Utility Commission (PUC).
Transportation Notes
Southern Natural Gas noted that as previously posted, it is in the process of abandoning its 16-inch diameter Mississippi Canyon 268 Line. As a result the West Delta 152 receipt point has been shut in and Southern is not accepting nominations there for about six days starting with Wednesday’s gas day. Since there is firm service at the point, this work constitutes a force majeure, the pipeline said.
Northwest Completes Three-Year WA Line Replacement Project
Williams’ Northwest Pipeline completed its capacity replacement project in Washington state. Work began in 2003 on the project, which is now in service.
ScottishPower Plans to Grow U.S. Gas Storage, Wind Power
While selling its utility stake in PacifiCorp (see related story), ScottishPower is not abandoning the energy market in the United States, the energy holding company’s CEO Ian Russell emphasized in an earnings conference call Tuesday from London to provide background on the $9.4 billion sale to MidAmerican Energy Holdings Co. Instead, the UK energy giant is planning to focus on two parts of the merchant energy business in the United States — wind power and natural gas storage.
Scotian Deepwater Potential Takes Another Hit with Marathon News
Marathon Oil Corp.’s Canadian subsidiary is permanently abandoning a deepwater wildcat natural gas well offshore Nova Scotia after failing to find any commercial quantities of oil and natural gas. When Marathon first discovered gas in the Annapolis block in 2002, it had estimated there could be between 5-15 Tcf of natural gas within the play (see NGI, Aug. 19, 2002).
Scotian Deepwater Potential Takes Another Hit with Marathon News
Marathon Oil Corp.’s Canadian subsidiary is permanently abandoning a deepwater wildcat natural gas well offshore Nova Scotia after failing to find any commercial quantities of oil and natural gas. When Marathon first discovered gas in the Annapolis block in 2002, it had estimated there could be between 5-15 Tcf of natural gas within the play (see Daily GPI, Aug. 14, 2002).
Sempra Energy Reports Lower 3Q Earnings Due to NS Bailout
Despite lower earnings due to a one-time charge tied to its abandoning a natural gas distribution project in Nova Scotia, San Diego-based Sempra Energy’s CEO on Thursday raised the bar for shorter and longer-term earnings growth — principally in the nonutility businesses. Sempra took a one-time, after-tax charge of $25 million, or 12 cents/diluted share, for giving up its natural gas distribution franchise in Nova Scotia.