Alert

The Securities and Exchange Commission (SEC) Thursday issued an alert to persons who are considering private securities offerings for oil and gas ventures as an investment opportunity, saying that such investments carry significant risks.

Pacific Gas and Electric’s (PG&E) California Gas Transmission system issued a Cold Weather Alert Tuesday, saying the current forecast called for many areas to be at or beyond its Cold Winter Day (CWD) conditions, including the cities of Santa Rosa, Redding and Sacramento. CWD is a design day criteria used to ensure reliable gas service for core and noncore customers, PG&E said. The CWD design temperature is defined as the coldest temperature that may be exceeded once in every two years, on average. The system-weighted mean temperature for a CWD is about 37 degrees Fahrenheit. Lows for the valley areas in PG&E service territory were expected to be in the upper 20s and low 30s Monday morning, and upper 20s on Tuesday morning. No local curtailments are expected, PG&E said.

With cold weather forecast in Florida that night, Florida Gas Transmission issued an Overage Alert Day for market-area customers Friday with 25% tolerance for negative daily imbalances.

Only a day after issuing them, Tennessee lifted two meter-specific Balancing Alert OFOs. The pipeline also said it continues investigation of a November rupture near Main Line Valve (MLV) 205-4 in Morgan County, OH, about four miles southeast of the city of Glouster (see Daily GPI, Nov. 21, 2011). Currently line 4 is isolated and Tennessee is maintaining a reduced pressure from Station 200 in Greenup, KY, to Station 219 in Mercer, PA. The Rockies Express (REX) interconnect flows into Line 4 between MLVs 208 and 209. To further evaluate the section between the valves, Tennessee was required to reduce the pressure there. Thus it was not accepting any nomination increases at the REX meter Tuesday and effective Wednesday until further notice will not accept any nominations at all from the REX meter.

Florida Gas Transmission ended Friday an Overage Alert Day that had been in effect for the previous three days.

Tennessee lifted Thursday an OFO Action Alert for all balancing parties in Zones 5 and 6.

Transwestern issued a systemwide Alert Day notice due to low linepack for Monday, prompting Southwest Gas to follow up with a Hold Burn to Scheduled Quantities notice. Both actions were canceled Tuesday as a result of Transwestern linepack returning to normal.

Southwest Gas issued a Hold Burn to Scheduled Quantities notice, effective Monday, due to a low-linepack Alert Day that was declared by upstream pipeline Transwestern that afternoon (see Daily GPI, Dec. 6a). Southwest said it did not plan on flowing any gas from Transwestern for Monday’s gas day and therefore did not declare an OFO, but would issue an OFO “should this situation change.”

Southern California Gas did not extend a high-linepack OFO beyond Saturday.