Activity

In keeping with the recent buzz of increased liquefied natural gas (LNG) activity across the country, Texaco revealled last week that it is studying the development of a new LNG receiving and regasification terminal in the U.S. Gulf of Mexico, while Shell International Gas Ltd. said that it has acquired up to 3.7 million tons of LNG from the North West Shelf (NWS) project in Australia for delivery to the Americas. Meanwhile, United Kingdom-based BG Group reported that it recently inked a 22-year contract with CMS Energy Corp.’s subsidiary, Trunkline LNG Co., for all of the current uncommitted capacity at CMS’s Lake Charles, LA, LNG terminal.

In keeping with the recent buzz of increased liquefied natural gas (LNG) activity across the country, Texaco reported on Tuesday that it is currently studying the development of a new LNG receiving and regasification terminal in the U.S. Gulf of Mexico, while Shell International Gas Ltd. said that it has acquired up to 3.7 million tons of LNG from the North West Shelf (NWS) project in Australia for delivery to the Americas.

The week’s market activity came to a quiet close Friday with prices at most eastern points and Permian/Waha hovering on either side of flat, but with a slight bias to the upside. Western markets were generally softer, with California once again way out in front, leading a downhill charge.

An attempt to score a quick tax coup by TransCanada PipeLines Ltd. has set off a flurry of activity among legal and regulatory experts before the National Energy Board. Savings of C$8 million (US$5.3 million) per year off continuing taxes — plus a reduction of C$75 million (US$50 million) off deferred tax liabilities — are projected by the company if it can carry out its plan.

An attempt to score a quick tax coup by TransCanada PipeLines Ltd. has set off a flurry of activity among legal and regulatory experts before the National Energy Board. Savings of C$8 million (US$5.3 million) per year off continuing taxes — plus a reduction of C$75 million (US$50 million) off deferred tax liabilities — are projected by the company if it can carry out its plan.

An attempt to score a quick tax coup by TransCanada PipeLines Ltd. set off a flurry of activity among legal and regulatory experts before the National Energy Board. Savings of C$8 million (US$5.3 million) per year off continuing taxes — plus a reduction of C$75 million (US$50 million) off deferred tax liabilities — are projected by the company if it can carry out its plan.

A confluence of positive trends, including continued robustness in wholesale energy trading activity, helped to propel first quarter 2001 earnings at energy marketing and trading powerhouse Enron Corp. and its energy marketing competitor Dynegy Inc. above and beyond expectations previously locked in by Wall Street analysts.

A confluence of positive trends, including continued robustness in wholesale energy trading activity, helped to propel first quarter 2001 earnings at energy marketing and trading powerhouse Enron Corp. and its energy marketing competitor Dynegy Inc. above and beyond expectations previously locked in by Wall Street analysts.

Spring is not the only thing currently in the air, as merger and acquisition activity continues at the rapid pace set during 2000. Midland, TX-based Pure Resources Inc. and Denver, CO-based Hallwood Energy Corp. announced they have signed a definitive merger agreement in which subsidiary Pure Resources II will acquire all of the outstanding shares of Hallwood common stock at a price of $12.50/share.