Acceptance

In his acceptance speech for the Democratic nomination for a second term, President Obama Thursday said Democrats were offering the nation a “better path” on energy — one that will continue to focus on renewable energy, develop abundant natural gas supplies, give producers more access for domestic onshore oil and gas exploration, reduce foreign oil imports and cut carbon pollution.

Over the last year or so hydraulic fracturing (fracking) has become a headline issue, and how one feels about it depends to a good degree on who one is. Generally though, as fracking garners more scrutiny the belief that it is worth doing hasn’t wavered much, a recent poll found.

A historic reversal of natural gas flows between Canada and the United States is inevitable, TransCanada Corp. says. The company is urging acceptance of its plan to make the switch with its own natural gas Mainline between Alberta and Ontario as the lesser of two evils.

A historic reversal of natural gas flows between Canada and the United States is inevitable, TransCanada Corp. says. The company is urging acceptance of its plan to make the switch with its own natural gas Mainline between Alberta and Ontario as the lesser of two evils.

Pure Resources Inc. on Thursday said the special committee of its board of directors is reviewing the revised exchange offer from Unocal Corp., but made no comment on whether the second offer from its 65% shareholder was enough. Unocal has been attempting to obtain the other 35% of Pure Resources for several weeks (see Daily GPI, Oct. 3).

After it had obtained all of the necessary regulatory approvals, Burlington Resources Inc. said Tuesday that it has received acceptance of its C$53.00 per share cash tender offer to acquire all the common shares of Canadian Hunter Exploration Ltd. by Canadian Hunter’s shareholders. A total of 58.7 million shares of Canadian Hunter common stock were tendered under the offer. The deal represents more than 98% of Canadian Hunter’s shares outstanding. Burlington said it intends to take up the tendered shares immediately. Burlington said it would acquire the remaining shares of Canadian Hunter by compulsory acquisition for C$53.00 per share in cash. “Canadian Hunter’s performance continues to exceed expectations, and the completion of this transaction further establishes Burlington as a significant player in Canada,” said Bobby S. Shackouls, Burlington CEO. “Our combined entities are uniquely positioned for future profitable growth, and we are delighted to welcome Canadian Hunter’s employees to the Burlington Resources family.”

The controversial Northeast-bound Independence Pipeline andMillennium Pipeline have won draft environmental acceptance at theFederal Energy Regulatory Commission, giving both the first bit ofencouraging news since the project applications were first filed.But the projects may not turn out as originally designed.

The controversial Northeast-bound Independence Pipeline andMillennium Pipeline have won draft environmental acceptance at theFederal Energy Regulatory Commission. This was good news for bothpipelines, which have been beset by unprecedented landowneropposition and questions about the “need” for the projects.