A fire in February that killed one person and destroyed a city block in Kansas City, MO, was caused by the “accidental ignition of natural gas vapors that accumulated” inside a restaurant, according to a report by the Kansas City Fire Department. Pilot lights had been left on at JJ’s restaurant despite warnings from crews investigating a nearby gas line rupture, and the fire began in the kitchen with “heat from an open flame or smoking materials” listed as the heat source (see Daily GPI, Feb. 22). However, the report did not assign blame as to what caused the Missouri Gas Energy pipeline to explode. The report was compiled by the city, the city fire department, the police department and the U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives. The Missouri Public Service Commission and the U.S. Occupational Safety and Health Administration are conducting separate investigations.
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BP Discloses Bigger Eagle Ford Position
BP plc has accumulated close to 450,000 net acres in the the Eagle Ford Shale in South Texas, executives said Tuesday.
Moody’s: E&P Cost Pressures Risky
North American investment-grade exploration and production (E&P) companies have accumulated record cash, which in turn has enabled both organic and acquisitive business growth, but companies are being forced to spend more as costs have risen and commodity prices have softened, increasing risks going forward, according to a review by Moody’s Investors Service.
Moodys: E&P Sector Stable, but Cost Pressures Risky
Fueled by record oil and natural gas prices, investment-grade exploration and production (E&P) companies in North America have accumulated record cash, which in turn has enabled both organic and acquisitive business growth, according to Moody’s Investors Service. The E&P sector overall remains stable, but companies are being forced to spend more as costs have risen and commodity prices have softened, increasing risks going forward.
Transportation Notes
Transco shippers have accumulated a significant negativeimbalance through the first 20 days of April, the pipeline said. Inorder to avoid restrictions that would be caused by a large volumeof receipt makeup transactions requested to flow for a limited timeat the end of the month, Transco urged that such transactions bescheduled as soon as possible to allow a steady flow rate throughApril 30.
