Activities

FERC last Thursday ordered an administrative law judge (ALJ) hearing to determine whether certain natural gas futures trading activities by Amaranth Advisors LLC, seven affiliates and two former traders violated the agency’s anti-manipulation regulations.

FERC Thursday ordered an administrative law judge (ALJ) hearing to determine whether certain natural gas futures trading activities by Amaranth Advisors LLC, seven affiliates and two former traders violated the agency’s anti-manipulation regulations.

Coral Energy, the long-time North American trade name for Royal Dutch Shell plc’s natural gas marketing activities in the United States and Canada, will officially change its name beginning in October.

Due to delays in construction activities at the Sublette (KS) Compressor Station, Northern Natural Gas will allocate the PEPL/NNG Sublette South interconnect with Panhandle Eastern to zero Friday. A return to normal operation is expected Saturday.

Fortifying the activities of one of the top natural gas marketing firms in North America with solid financial backing, American International Group Inc. subsidiary AIG Financial Products Corp. (AIG-FP) said Thursday that it has signed an agreement to purchase a 50% partnership interest in Tenaska Energy’s natural gas marketing companies — Tenaska Marketing Ventures, Tenaska Marketing Canada and Tenaska Gas Storage — known collectively as TMV. Financial terms were not disclosed.

Fortifying the activities of one of the top natural gas marketing firms in North America with solid financial backing, American International Group Inc. subsidiary AIG Financial Products Corp. (AIG-FP) said late last week that it has signed an agreement to purchase a 50% partnership interest in Tenaska Energy’s natural gas marketing companies — Tenaska Marketing Ventures, Tenaska Marketing Canada and Tenaska Gas Storage — known collectively as TMV. Financial terms were not disclosed.

EnCana Corp. has pulled back on its exploration activities in eastern Canada because of limited success, but CEO Randy Eresman said Thursday the company remains committed to developing the natural gas reserves in the Deep Panuke field offshore Nova Scotia. The field, he said, “is a keeper for us.”

Devon Energy Corp. has a long “to-do” list of exploration activities planned in North America this year, and “we’d have to see a fairly large reduction in prices” before pulling back on any planned exploration, President John Richels said last week. “We’re taking the longer-term view, and we’re very confident that we’ll see higher prices this year on the gas and oil side.”

Devon Energy Corp. has a long “to-do” list of exploration activities planned in North America this year — in the deepwater Gulf of Mexico, onshore in its core U.S. holdings and in emerging Canadian oilsands projects. The plans take into account rising service and labor costs, but “we’d have to see a fairly large reduction in prices” before pulling back on any planned exploration, President John Richels said. “We’re taking the longer-term view, and we’re very confident that we’ll see higher prices this year on the gas and oil side.”