Linn Energy LLC and LinnCo LLC are acquiring Berry Petroleum Co. for $4.3 billion, including debt, in a transaction said to be the first-ever acquisition of a C-corporation by an upstream limited liability company (LLC) or master limited partnership (MLP).
Approval
Articles from Approval
Consumer Group Seeks to Overturn PG&E Pipeline Safety Plan
California’s major utility watchdog group, The Utility Reform Network (TURN), asked state regulators Wednesday to reverse their approval in December allowing $214 million of utility ratepayer support for part of Pacific Gas and Electric Co.’s (PG&E) multi-year natural gas pipeline safety enhancement plan.
BP Macondo Lawsuit Approved
A federal judge has given final approval to the economic portion of a multibillion dollar class action settlement between BP plc and thousands of individuals and businesses affected by the April 2010 deepwater Macondo well blowout.
BP Macondo Class Action Lawsuit Approved
A federal judge has given final approval to the economic portion of a multibillion dollar class action settlement between BP plc and thousands of individuals and businesses affected by the April 2010 deepwater Macondo well blowout.
Spectra’s NJ-NY Expansion Tracking Late ’13 Start-Up
Spectra Energy’s long-under-attack New Jersey-New York Expansion early last week received unanimous approval from FERC, which means firm natural gas transportation service into Manhattan could be operational sometime during the fourth quarter of 2013.
Dominion LNG Case Being Weighed by Maryland Judge
A Maryland circuit court judge listened to lawyers for Dominion Resources Inc. and two environmental groups on Monday, the opening salvo in lawsuit over a proposed natural gas liquefaction facility, but ultimately decided to take the case under advisement.
Industry Briefs
Enbridge Inc. has committed up to $600 million to expand Enbridge Gas Distribution’s (EGD) system in the Greater Toronto Area (GTA) during 2014 and 2015, pending approval of the Ontario Energy Board. “Over the last 20 years, Enbridge Gas Distribution has almost doubled its total number of customers across Ontario from 1.1 million in 1992 to 2 million in 2012,” said President Guy Jarvis. “We’re well positioned to benefit from continued strong population growth in the GTA…” The proposed project would consist of two segments of pipeline and related facilities to upgrade the distribution system that delivers gas to Toronto, Brampton, Mississauga, Vaughan, Richmond Hill and Markham.
TPC Takeover to Capitalize on Shale Growth, Says First Reserve
Gulf Coast petrochemicals maker TPC Group Inc. on Monday agreed to be taken private by First Reserve Corp. and SK Capital Partners in a cash-and-debt transaction valued at $850 million.
Industry Briefs
Spectra Energy Corp. has received approval from the Federal Energy Regulatory Commission to begin construction on the New Jersey-New York Expansion Project, a 20-mile expansion of the Texas Eastern Transmission and Algonquin Gas Transmission interstate pipeline systems, which would provide an additional 800 MMcf/d of transportation capacity into the region. The Commission approved the project, which is to begin service in late 2013, in May (see NGI, May 28). Spectra has to implement an archaeological monitoring plan for the Big Inch and Little Big Inch pipelines, among other requirements.
Spectra New Jersey-New York Expansion Greenlighted
Spectra Energy Corp. has received approval from the FERC to begin construction on the New Jersey-New York Expansion Project, a 20-mile expansion of the company’s Texas Eastern Transmission and Algonquin Gas Transmission interstate pipeline systems.