Agreeing

The land grab continues in the emerging natural gas-rich basins of East Texas, and Berry Petroleum Co. has become the latest to join the crowd, agreeing to pay $620 million in cash to buy 4,500 net acres. With the transaction, Berry’s output would increase by 32 MMcfe/d, and it would add 370 Bcfe to reserves.

The land grab continues in the emerging natural gas-rich basins of East Texas, and Berry Petroleum Co. has become the latest to join the crowd, agreeing to pay $620 million in cash to buy 4,500 net acres. With the transaction, Berry would add 32 MMcfe/d to its output and 370 Bcfe to reserves.

Peabody Energy, one of the largest privately held coal companies in the world, is making a move into the natural gas market after agreeing Friday to become a minority investor in GreatPoint Energy Inc. GreatPoint is commercializing its “bluegas” technology to convert coal, petroleum coke and biomass into pipeline-quality gas.

Peabody Energy, one of the largest privately held coal companies in the world, is making a move into the natural gas market after agreeing to become a minority investor in GreatPoint Energy Inc. GreatPoint is commercializing its “bluegas” technology to convert coal, petroleum coke and biomass into pipeline-quality gas.

Imperial Oil Ltd., which is leading the Mackenzie Gas Project (MGP) consortium, took another baby step forward last week after agreeing to a benefits package with Northwest Territories (NWT) provincial authorities. The Socio-Economic Agreement outlines guarantees for aboriginal residents who would be living along the proposed natural gas pipeline’s 750-mile (1,200-kilometer) route.

Imperial Oil Ltd., which is leading the Mackenzie Gas Project (MGP) consortium, took another baby step forward after agreeing to a benefits package with Northwest Territories (NWT) provincial authorities. The Socio-Economic Agreement outlines guarantees for aboriginal residents who would be living along the proposed natural gas pipeline’s 750-mile (1,200-kilometer) route.

Agreeing with the intent of lowering financial risk and raising credit ratings, the Idaho Public Utilities Commission Wednesday approved Avista Corp.’s proposal to reorganize, creating a still-to-be-renamed holding company for Avista Utilities, which serves electricity and natural gas customers in northern Idaho. The PUC noted that last year’s repeal of the federal Public Utility Holding Company Act (PUHCA) allows multi-state utilities like Avista to form holding companies.

FERC on Wednesday rejected El Paso Natural Gas’ hotly disputed compliance tariff filing that was submitted in late April, agreeing with shippers that the pipeline failed to follow many of the agency’s directives that were contained in an earlier order.

Sempra Energy LNG inked a letter of intent with BPMigas, Indonesia’s executive agency for oil and gas, and BP Indonesia Thursday to purchase liquefied natural gas (LNG) supplies from Indonesia to be delivered to its planned terminal in North Baja California, Mexico. Top government energy officials from Mexico, Indonesia and the U.S. endorsed the agreement which was signed near the end of the two-day LNG Ministerial Summit in Washington, DC, last week.