Arms

Coral Energy Resources has won out in the reverse auction held by Duke Energy’s marketing and trading arms to take over its Southwestern portfolio of transportation, storage and gas supply contracts effective May 1.

A number of generators are up in arms over a recent bid by several California entities, including the California Public Utilities Commission (CPUC), to have FERC publicly disclose materials that power suppliers filed in response to data requests as part of the Commission’s ongoing probe into the possible manipulation of California’s energy markets.

Gastar Exploration Ltd. has acquired, in arms-length transactions, a 75% working interest in about 4,000 net acres of leases in Campbell County, WY, as well as 11 pilot test wells and other acreage in the Appalachian Basin. The Wyoming acreage, located in the Squaw Creek area, is part of the Powder River Basin, which is rich in coalbed methane (CBM) deposits. It already has 65 CBM wells in the initial stages of dewatering and production, with several realized production rates approaching 75 Mcf/d after less than two months of dewatering. No financial details were disclosed for either deal.

Reps. John Dingell (D-MI) and Henry Waxman (D-CA) are up in arms over the response of Vice-President Cheney’s office to a recent request by the lawmakers asking the General Accounting Office (GAO) to undertake an investigation of the White House energy task force in light of the secrecy that has surrounded the group’s meetings and participants.

Reps. John Dingell (D-MI) and Henry Waxman (D-CA) are up in arms over the response of Vice-President Cheney’s office to a recent request by the lawmakers asking the General Accounting Office (GAO) to undertake an investigation of the White House energy task force in light of the secrecy that has surrounded the group’s meetings and participants.

Independent oil and natural gas producers are up in arms over aremark by Energy Secretary Bill Richardson that current oil pricesare at “dangerously high levels.” Richardson cited his concern lastweek and said the Clinton administration stood ready to take actionif prices continued to rise, although he declined to specify whattype of action.