Appalachian pure-play Arsenal Resources Development LLC (ARD) has filed for Chapter 11 bankruptcy protection to implement a prepackaged plan of reorganization already approved by lenders.
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Briefs — Arsenal Energy
Arsenal Resources holding company Arsenal Energy Holdings LLC (AEH) has emerged from bankruptcy in a pre-packaged plan of reorganization. It implemented a debt-for-equity exchange to wipe out $861 million of outstanding subordinated bonds. Arsenal noted when AEH filed for Chapter 11 bankruptcy protection that its exploration and production operations in Pennsylvania and West Virginia would not be affected. No other creditors were impacted by the proceedings.
Briefs — Iowa Utilities Board
The Iowa Utilities Board (IUB) has approved a five-year, $256 million energy efficiency plan for 2019-23 for MidAmerican Energy Co. to carry out 14 energy efficiency and demand response programs estimated to provide $41 million in gas utility customer benefits and $709 million of electric benefits. The IUB also has scheduled 10 public meetings from April 11-May 23 for Alliant Energy’s Interstate Power and Light Co. in Iowa for a yet-to-be-filed rate increase request for both its retail gas and power operations in Iowa.
Arsenal Says Holding Company Bankruptcy No Threat to Operations
Appalachian pure-play Arsenal Resources this week said its operations are unaffected by the bankruptcy filing of its holding company.
Williams Moves to Master Marcellus
Williams, which has been laser focused on building a midstream stronghold in the Marcellus Shale, last week added to its arsenal after agreeing to pay $2.5 billion to buy the midstream arm of privately held producer Caiman Energy.
Apache Sees Upturn in North American Gas Production
With an “arsenal of exploration prospects” ready to fire up, Apache Corp. CEO G. Steven Farris said Thursday the company expects production to grow on a pace of 6-10% over the coming year in its core operating regions, which include the U.S. Midcontinent and the Gulf of Mexico (GOM).
Apache Forecasting Gas Production to Grow On- and Offshore
With an “arsenal of exploration prospects” ready to fire up, Apache Corp. CEO G. Steven Farris said Thursday the company expects production to grow on a pace of 6-10% over the coming year in its core operating regions, which include the United States Central Region and the Gulf of Mexico (GOM).
FERC Hikes SoCal Ed ROR to 11.6%
Bending another tool in its arsenal to shaping up the electricpower market, the Federal Energy Regulatory Commission (FERC) hasapproved an 11.6% rate of return for Southern California Edison,replacing the 9.68% rate set earlier by an administrative law judge(ER97-2335, et al).
FERC Increases SoCal Ed ROR to 11.6%
Bending another tool in its arsenal to shaping up the electricpower market, the Federal Energy Regulatory Commission (FERC) hasapproved an 11.6% rate of return for Southern California Edison,replacing the 9.68% rate set earlier by an administrative law judge(ER97-2335, et al).
ANR Blows Guardian Full of Holes at FERC
ANR Pipeline unloaded an arsenal at the Guardian Pipelineproject yesterday in a protest and request for dismissal filed withFERC. If Guardian is built, it would be a bypass of ANR, resultingin 650 MDth/d of firm transportation capacity being turned back tothe Coastal subsidiary. That turnback capacity would mean a loss of$54 million in annual revenue, ANR said, of which $26 million couldbe avoided if Wisconsin Gas accepted a competing proposal presentedby ANR. ANR is requesting it be allowed to charge Wisconsin Gas anexit fee if Guardian is approved.