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Looking to bolster its core natural gas reserve base in the Southwest, Comstock Resources Inc. announced that it has agreed to purchase substantially all of the assets of Ovation Energy, LP. for $62.5 million.

Looking to bolster its core natural gas reserve base in the Southwest, Comstock Resources Inc. announced Wednesday that it has agreed to purchase substantially all of the assets of Ovation Energy, LP. for $62.5 million.

ANR Pipeline received a FERC certificate Wednesday to reconfigure its gas storage operations in Michigan by converting 4.1 Bcf of base gas to working gas in three storage fields and abandoning by sale the Capac Field, an inefficient off-system storage field, to Mid Michigan Gas Storage Co. ANR also will construct new injection/withdrawal wells and separation equipment at one field and add other facilities at two other fields to enhance late season deliverability. FERC said approval of the $9.8 million project will serve the public interest by allowing ANR to improve the overall efficiency of its entire storage system. The project will result in a net decrease of ANR’s maximum storage quantity of 9.5 Bcf and a net decrease of late season deliverability of 38 MMcf/d. However, ANR will still have 24.5 Bcf of unsubscribed capacity and 355 MMcf/d of unsubscribed deliverability available.

ANR Pipeline received a FERC certificate Wednesday to reconfigure its gas storage operations in Michigan by converting 4.1 Bcf of base gas to working gas in three storage fields and abandoning by sale the Capac Field, an inefficient off-system storage field, to Mid Michigan Gas Storage Co. ANR also will construct new injection/withdrawal wells and separation equipment at one field and add other facilities an two other fields to enhance late season deliverability. FERC said approval of the $9.8 million project will serve the public interest by allowing ANR to improve the overall efficiency of its entire storage system. The project will result in a net decrease of ANR’s maximum storage quantity of 9.5 Bcf and a net decrease of late season deliverability of 38 MMcf/d. However, ANR will still have 24.5 Bcf of unsubscribed capacity and 355 MMcf/d of unsubscribed deliverability available.

Mindful of declining production in its traditional Gulf of Mexico area supply base, Atlanta, GA-based AGL Resources is focusing increasingly on the potential for LNG, including increased supplies from the two established LNG import terminals on the southeastern Atlantic Coast and possibilities for another import terminal on its waterfront property in an industrial area near Norfolk and Virginia Beach, VA, AGL Chairman Paula Rosput said Wednesday.

Mindful of declining production in its traditional Gulf of Mexico area supply base, Atlanta, GA-based AGL Resources is focusing increasingly on the potential for LNG, including increased supplies from the two established LNG import terminals on the southeastern Atlantic Coast and possibilities for another import terminal in an industrial area near Norfolk and Virginia Beach, VA, AGL Chairman Paula Rosput said Wednesday.

Forest Oil Corp. increased its North American oil and gas prospects last week after announcing it will purchase of The Wiser Oil Co., based in Dallas, for $330 million. Wiser, which produced 64 MMcfe/d in the first quarter, splits its exploration and production focus between Canada and the Permian Basin, and last year, its estimated proved reserves totaled 191 Bcfe, of which 51% were natural gas.

Forest Oil Corp. increased its North American oil and gas prospects this week after announcing it will purchase of The Wiser Oil Co., based in Dallas, for $330 million. Wiser, which produced 64 MMcfe/d in the first quarter, splits its exploration and production focus between Canada and the Permian Basin, and last year, its estimated proved reserves totaled 191 Bcfe, of which 51% were natural gas.

Energy companies should base annual trader bonuses at least in part on the ethical behavior of their natural gas and power traders, said the chief enforcement officer for the Commodity Futures Trading Commission (CFTC) last Wednesday.