Announcing

Transportation Notes

Due to forecasts of mild Southeast weather, Southern Natural Gas cited projections of high storage injection requirements during the weekend in announcing that an OFO Type 6 for long imbalances would be in effect on its system Saturday until further notice. Tiered imbalance penalties will be assessed to shippers exceeding allocated deliveries by 2% or more (those with long imbalances of less than 2% or 200 Dth/d will not be penalized).

November 23, 2009

Transportation Notes

Florida Gas Transmission extended an Overage Alert Day through at least Tuesday but loosened the tolerance for negative daily imbalances from 15% to 25%.

November 11, 2009

Miller Energy Resources Acquires Alaskan Oil and Gas Assets

Miller Petroleum Inc., which does business as Miller Energy Resources, continued its 2009 oil and gas asset grab on Tuesday, announcing that it has entered into an agreement to purchase the south-central Alaska assets of Cook Inlet Energy LLC for $875,000.

October 21, 2009

Chesapeake Spins Off Barnett, Other Midstream Assets

Chesapeake Energy Corp. continued monetizing assets last week, announcing the spin-off of some of its midstream holdings to a joint venture it formed with a private equity partner. Such a deal has been in the works for a while and creates an entity that CEO Aubrey K. McClendon said could one day rank among the country’s largest public midstream companies.

September 28, 2009

ExxonMobil to Invest Millions in Algae Biofuel Research

ExxonMobil Corp. took a sharp strategic turn toward renewable energy research last week, announcing an alliance with Synthetic Genomics Inc. (SGI) to research and develop next-generation biofuels from photosynthetic algae.

July 20, 2009

ExxonMobil to Invest Millions in Algae Biofuel Research

ExxonMobil Corp. took a sharp strategic turn toward renewable energy research on Tuesday, announcing an alliance with Synthetic Genomics Inc. (SGI) to research and develop next-generation biofuels from photosynthetic algae.

July 15, 2009

Statoil Acquires GOM Deepwater Stakes from BHP

StatoilHydro has added to its sizable stake in the Gulf of Mexico (GOM), announcing Tuesday that it has acquired a 40% interest from BHP Billiton Ltd. in 50 offshore blocks. Financial details were not disclosed.

April 15, 2009

Shell Raises Spending, Dividend Plans Despite Quarterly Losses

Undeterred by lower commodity prices that slammed quarterly profits, Royal Dutch Shell sounded positively bullish Thursday, announcing that it plans to raise dividends and increase capital spending this year.

January 30, 2009

Puget CEO: $250M Financing Is a Merger Benefit

In announcing the completion Friday of a $250 million debt financing for Puget Sound Energy’s (PSE) utility operations, CEO Stephen Reynolds said the completion and favorable terms indicate the market likes the private investment consortium’s purchase of PSE, which he expects to close Feb. 6. The first mortgage bond issuance was placed with more than 35 institutional investors, carrying a seven-year term and 6.75% coupon.

January 26, 2009

Barclays, Moving on Up, Picks Up UBS Book

Barclays Capital, the investment banking division of Barclays PLC, made it official Friday, announcing it was taking over the UBS book for its base metals, oil and U.S. natural gas and power trading, adding it to its Lehman Brothers Inc. holdings, which it picked up last September. The two acquisitions would put Barclays in the top 10 North American natural gas marketers in NGI’s ranking.

January 20, 2009