Richmond, VA- based Dominion Resources Inc. has affirmed its 2008 earnings guidance of $3.10 to $3.15 per share while dropping both its 2009 guidance and spending plans. The company said it has “more than adequate liquidity,” but given the current macroeconomic situation will be cutting $350 million from capital expenditures and reducing some nonfuel operating and maintenance expenses.
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Islander East Takes Another Punch in the Stomach
The embattled Islander East Pipeline took another punch in the stomach last Wednesday when a federal appellate court in New York affirmed a lower court’s decision that blocks the Connecticut-to-Long Island project from going forward.
Islander East Takes Another Punch in the Stomach
The embattled Islander East Pipeline got another punch in the stomach Wednesday when a federal appellate court in New York affirmed a lower court’s decision that blocks the Connecticut-to-Long Island project from going forward.
Decision on LNG-Related Mitigation Costs Upheld
FERC last Thursday on rehearing affirmed an April order in which it declined to establish a mechanism in interstate pipeline tariffs that would provide for recovery of mitigation and repair costs incurred by downstream gas users as a result of the introduction of revaporized liquefied natural gas (LNG) into their systems.
Decision on LNG Mitigation-Related Costs Upheld
FERC Thursday on rehearing affirmed an April order in which it declined to establish a mechanism in interstate pipeline tariffs that would provide for recovery of mitigation and repair costs incurred by downstream gas users as a result of the introduction of revaporized liquefied natural gas (LNG) into their systems.
Raymond James: Rise in Gas Output Not Sustainable
Raymond James & Associates Inc. affirmed recent private and government forecasts that U.S. natural gas production is indeed on the rise, but the ever-bullish energy analyst said last week that the growth’s long-term sustainability is “unlikely.”
Raymond James Affirms Gas Output Rise, Says Sustainability ‘Unlikely’
Raymond James & Associates Inc. affirmed recent private and government forecasts that U.S. natural gas production is indeed on the rise, but the ever-bullish energy analyst said the growth’s long-term sustainability is “unlikely.”
Gallo Lawsuit Claiming EnCana Manipulated Gas Prices to Continue
The Ninth U.S. Circuit Court of Appeals last week affirmed a lower court’s ruling to allow a lawsuit by E. & J. Gallo Winery of Modesto, CA, to continue against EnCana Corp. and “multiple unnamed co-conspirators” over colluding to increase the price of natural gas sold to the wine maker in 2001.
Gallo Lawsuit Against EnCana on California Gas Sales to Continue
The Ninth U.S. Circuit Court of Appeals Wednesday affirmed a lower court’s ruling to allow a lawsuit by E. & J. Gallo Winery of Modesto, CA, to continue against EnCana Corp. and “multiple unnamed co-conspirators” over colluding to increase the price of natural gas it sold to the winemaker in 2001.
Black Hills Ratings Affirmed, Outlook Stays ‘Negative,’ S&P Says
Standard & Poor’s Ratings Services Monday affirmed a “BBB-” corporate credit rating for South Dakota-based Black Hills Corp, dropping a “CreditWatch with negative implications” designation. However, for the firm’s overall outlook, S&P set a “negative” designation.