Accelerated

Gulfport Energy Corp. officials have reaffirmed the company’s commitment to the Utica Shale, unveiling details of an accelerated, but cheaper, drilling plan coordinated with the construction of much-needed infrastructure in the play.

Crestwood Midstream Partners LP on Tuesday said it is building its foothold in the Marcellus Shale after wresting control of a natural gas partnership created last year.

Portland, OR-based NW Natural has accelerated a utility rate decrease for its distribution utility customers in Oregon and Washington, asking regulators in both states to approve rate decreases totaling $39 million. Separately last Friday, CEO Gregg Kantor also reported during a 1Q2012 earnings conference call that the company’s joint venture drilling program with a unit of Encana Corp. and a merchant gas storage project in California passed important milestones during the quarter.

Pacific Gas and Electric Co. (PG&E) on Wednesday asked California regulators to approve an agreement the utility made with regulatory staff on an accelerated compliance plan and payment of up $6 million in penalties.

Houston-based Swift Energy Co.’s 2011 capital budget includes an accelerated drilling program to increase production and reserves, primarily targeting its liquids-rich acreage in the Eagle Ford Shale and the Olmos Sands in South Texas, the company said.

Monday’s price movement saw a reversal of geographic orientation from the previous Friday. On Monday it was the East that was mostly softer, while most western points rallied from Friday’s overall declines. Freezing temperatures were still in the forecast for Tuesday from the Northeast through the Midcontinent/Midwest and Great Plains into the Rockies, but relatively moderate weather is in play across the southern tier of states.

Anadarko Petroleum has completed a $2.2 billion transaction that has accelerated the monetization of its midstream assets while retaining its existing ownership, control and management of the assets, the company said.

Pacific Gas & Electric will end Thursday a systemwide high-inventory OFO that was implemented Tuesday.

Following a report of accelerated losses in last year’s fourth quarter, El Paso Corp. followed up Thursday with a long-range planning update in which it intends to get out of all noncore businesses and pay down debt quicker in hopes of hitting net income of up to $750 million next year, the company told financial analysts at a conference it hosted in Houston. This follows a reported net loss in 2004 of more than $1 billion announced by the company Wednesday.