Awarded

Marathon Oil Corp. showed a nearly 100% gain on fourth quarter net income from $98 million, or $0.32 per diluted share in 2001, to $194 million, or $0.62 per diluted share in 2002. The company also reported last week it had achieved a 250% reserve replacement ratio, including expansion of its Powder River Basin coalbed methane holdings.

Natural Gas Pipeline Co. of America (NGPL) Tuesday was awarded a certificate by the Federal Energy Regulatory Commission to convert 10.7 Bcf of cushion gas into working gas at its North Lansing storage field in Harrison County, TX.

FERC has awarded a certificate to Columbia Gas Transmission Corp. to upgrade compression and aging pipeline segments to supply natural gas to a planned generation plant in Maryland.

Utah regulators awarded Questar Gas an immediate increase in its general rates of slightly more than 3%, effective Dec. 30. The Salt Lake City, UT-based natural gas distribution company also had its allowed rate of return on equity raised to 11.2% from 11%.

Natural Gas Pipeline Co. of America (NGPL) Tuesday was awarded a certificate by the Federal Energy Regulatory Commission to convert 10.7 Bcf of cushion gas into working gas at its North Lansing storage field in Harrison County, TX.

FERC has awarded a certificate to Columbia Gas Transmission Corp. to upgrade compression and aging pipeline segments to supply natural gas to a planned generation plant in Maryland.

The jury awarded $975,181.46 in actual damages and $60 million in punitive damages after less than a day’s deliberations. Southern Union had filed the case in the Arizona district court in July 1999.

A total of 316 leases were awarded to 40 companies in Western Gulf of Mexico lease sale 184, the Minerals Management Service reported Thursday. Valid bids totaled $148.6 million, with five-year leases on shallow-water tracts (in water depths up to 655 feet) attracting the most bids (44%) partly because the MMS now has a royalty relief provision for 20 Bcf of deep gas production (greater than 15,000 feet) in shallow shelf waters.

A total of 316 leases were awarded to 40 companies in Western Gulf of Mexico lease sale 184, the Minerals Management Service reported Thursday. Valid bids totaled $148.6 million, with five-year leases on shallow-water tracts (in water depths up to 655 feet) attracting the most bids (44%) partly because the MMS now has a royalty relief provision for 20 Bcf of deep gas production (greater than 15,000 feet) in shallow shelf waters.