Announcing

Enterprise GP Holdings LP late Monday made good on its intentions to enter the interstate pipeline market after announcing two separate transactions that give it a minority stake in Energy Transfer Equity LP and TEPPCO Partners LP. The transactions, which together are worth an estimated $2.8 billion, are expected to increase Enterprise’s distributable cash flow per unit in 2008 by more than 10%.

In addition to announcing its second operational liquefied natural gas (LNG) port worldwide, The Woodlands, TX-based Excelerate Energy said last week that after numerous ship-to-ship transfer test runs in the Gulf of Mexico (see NGI, March 6, 2006), it has conducted the first-ever commercial transfer of LNG from one ship to another, which could revolutionize the way LNG is delivered.

In addition to announcing its second operational liquefied natural gas (LNG) port worldwide, The Woodlands, TX-based Excelerate Energy said Monday that after numerous ship-to-ship transfer test runs in the Gulf of Mexico, it has conducted the first-ever commercial transfer of LNG from one ship to another, which could revolutionize the way LNG is delivered.

Apache Corp., which has been pretty quiet over the last year, on Thursday stepped into the spotlight, announcing it will spend $1 billion to acquire controlling interests in 28 oil and natural gas fields in the Permian Basin. The assets, purchased as part of a joint venture agreement with Anadarko Petroleum Corp., are expected to produce 9,000 b/d of oil and 18 MMcf/d of natural gas net to Apache this year.

EnCana Corp. on Thursday mapped out its spending plans for 2007, announcing it will shift to a cruising speed and trim its capital budget by 6% to minimize ongoing high service costs. Capital investments to expand natural gas output and fund an emerging oilsands business will be fueled by internally generated cash flow, supported by hedges on more than half of its forecasted production volumes.

EnCana Corp. on Thursday mapped out its spending plans for 2007, announcing it will shift to a cruising speed and cut its capital budget by 6% to minimize ongoing high service costs. Capital investments to expand natural gas output and fund its emerging oilsands business will be fueled by internally generated cash flow, supported by hedges on more than half of its forecasted production volumes.

Electronic energy marketplace IntercontinentalExchange (ICE) continued its busy week Wednesday in announcing that it has licensed office space at 2 World Financial Center in the downtown financial district of New York City. The company said the offices will serve as a “state-of-the-art” electronic trading center that will provide access to ICE’s electronic markets as well as host training and marketing activities.

Pacific Gas and Electric Co. sent its customers some early holiday cheer Thursday, announcing that natural gas bills in December will take a 15% plunge compared to the same month last year, and the wholesale cost of gas is down sharply on the same December 2005-to-December 2006 comparison. Wholesale charges in December also are down 2%-3% compared with November levels.

Houston-based Anadarko Petroleum Corp. notched another sale in its ongoing divestiture plan last week, announcing the sale of its Genghis Khan discovery in the deepwater Gulf of Mexico to the owners of the adjacent Shenzi field for $1.35 billion. The transaction continues the Gulf’s hot deal streak and furthers the internationalization of the U.S. oil and gas breadbasket.