Acted

There is no evidence that the Commodity Futures Trading Commission (CFTC) acted in a potentially criminal manner when establishing its position limits rule to curb speculation in energy markets, according to a report of a preliminary investigation conducted by the agency’s Office of Inspector General (OIG).

There is no evidence that the Commodity Futures Trading Commission (CFTC) acted in a potentially criminal manner when establishing its position limits rule to curb speculation in energy markets, according to a report of a preliminary investigation conducted by the agency’s Office of Inspector General (OIG).

Although the full House hasn’t acted on its pipeline safety re-authorization legislation yet, a leading Department of Transportation (DOT) official said she is confident that the bill will clear Congress this year.

Calgary-based Talisman Energy Inc. on Tuesday deepened its strategic relationship with Sasol Ltd. by selling it a half-stake in its Cypress A assets in the Montney Shale for C$1.05 billion.

Calgary-based Talisman Energy Inc. and Norway’s Statoil ASA have formed a joint venture (JV) to acquire 97,000 net acres of liquids-rich Eagle Ford Shale properties from Enduring Resources for US$1.325 billion, the companies said.

Prices acted as expected in an environment of little heating load, flagging air conditioning demand in the South and a 14-cent screen drop on the preceding day. All points were united in declines Thursday.

In an order expected to bring the California refund proceeding significantly closer to completion, FERC last Thursday acted on 23 filings in the proceeding in which power sellers sought to offset their refund obligations with their costs of serving the California markets during the 2000-2001 energy crisis.

U.S. Bankruptcy Judge Burton R. Lifland in a Manhattan federal court Thursday acted on Calpine Corp.’s initial motions in the company’s multi-billion-dollar Chapter 11 bankruptcy filing earlier in the week, granting the company’s immediate use of $500 million of some $2 billion debtor-in-possession (DIP) financing and authorizing the company to continue paying employee wages, salaries, and benefits during the court-supervised restructuring. In addition, Judge Lifland set a hearing Jan. 5 on Calpine’s motion to suspend some of its below-market power contracts, two of which are in California, totaling 1,200 MW.

A federal appeals court in Washington, DC last Tuesday ruled that FERC acted correctly when it rejected a rate settlement that was supported by the majority of Equitrans LP’s shippers in favor of a preexisting settlement that was backed by non-shipper producers.