Andrew Fastow, whose ingenious off-the-book transactions as CFO of Enron Corp. enriched him while helping to precipitate one of the biggest corporate collapses in history, has been released to a community corrections facility in Houston until he completes his prison sentence in mid-December, according to the Federal Bureau of Prisons. Fastow, now 49, was facing 98 criminal charges but pleaded guilty to two criminal counts and agreed to testify for the government against his former colleagues (see Daily GPI, Sept. 27, 2006). His key testimony led to the convictions of several Enron executives, most notably founder Kenneth Lay and former CEO Jeffrey Skilling, who were convicted on numerous charges in 2006 (see Daily GPI, May 26, 2006). Skilling, convicted on 19 criminal counts, is scheduled to be released from federal prison in 2030; he is appealing. Lay was convicted on 10 criminal counts, but died before sentencing and the convictions were dismissed. Wife Lea Fastow, also a former Enron employee, served a one-year prison term; she continues to live in Houston with the couple’s two children.
Andrew
Articles from Andrew
Industry Brief
The New York Public Interest Research Group (NYPIRG) said it would deliver to Gov. Andrew Cuomo a petition calling on the state to protect drinking water from the potential impacts of hydraulic fracturing (hydrofracking). New York’s Department of Environmental Conservation (DEC) is due to complete work on a supplemental generic environmental impact statement on hydrofracking this summer (see Shale Daily, April 13). The NYPIRG, a student-run organization with chapters on 20 college campuses in the state, told the Associated Press its petition had been signed by more than 10,000 New Yorkers.
Gas Demand Growth to Rise, Says Schlumberger CEO
Schlumberger Ltd. CEO Andrew Gould last week repeated an old adage and added something new to it, telling an industry audience in New Orleans, “if you want to find oil, you have to drill. And if you want to produce unconventional gases or oils, it is even truer.”
Schlumberger CEO: Higher Shale Recovery Rates Equal Big Opportunity
Schlumberger Ltd. CEO Andrew Gould repeated an old adage and added something new to it on Monday, telling an industry audience in New Orleans, “if you want to find oil, you have to drill. And if you want to produce unconventional gases or oils, it is even truer.”
Schlumberger Chief Forecasts Higher Gas Demand Growth
The “fundamentals” for oil and gas remain unchanged, but new opportunities have arisen because of “technology or changed circumstances,” Schlumberger Ltd. CEO Andrew Gould said Monday.
New York’s New DEC Chief Urged Go-Slow Approach to Fracking
Joseph Martens, who was tapped by Gov. Andrew Cuomo last week to lead New York’s Department of Environmental Conservation (DEC), in 2010 suggested the state wait until a federal study had been completed on hydraulic fracturing (hydrofracking) impacts to health and the environment before implementing rules for Marcellus Shale drillers.
New York’s New DEC Chief Urged Go-Slow Approach to Hydrofracking
Joseph Martens, who was tapped by Gov. Andrew Cuomo on Tuesday to lead New York’s Department of Environmental Conservation (DEC), last year suggested the state wait until a federal study had been completed on hydraulic fracturing (hydrofracking) impacts to health and the environment before implementing rules for Marcellus Shale drillers.
Former New York DEC Chief to Counsel Conservation Group
The former chief of the New York Department of Environmental Conservation (DEC), who was ousted in October by Gov. David Paterson, has joined an environmental conservation group that has questioned the state’s ability to regulate shale gas extraction.
Schlumberger Sees Uncertainty in North American Gas Market
Schlumberger Ltd. CEO Andrew Gould said Friday it will take until the end of the winter heating season to determine whether the North American natural gas rig count will grow this year “because of the backlog of gas behind the pipe that hasn’t been stimulated and the number of wells that have not been completed.” Liquefied natural gas (LNG) imports, he said, are the wild card.
Schlumberger Sees Uncertainty in North American Gas Market
Schlumberger Ltd. CEO Andrew Gould said Friday it will take until the end of the winter heating season to determine whether the North American natural gas rig count will grow this year “because of the backlog of gas behind the pipe that hasn’t been stimulated and the number of wells that have not been completed.” And liquefied natural gas (LNG) imports, he said, are the wild card.
