Battle

A battle is raging between Atmos Energy and Equitrans, two companies that are seeking to build new natural gas pipelines to ease the transportation constraint in eastern Kentucky that has forced producers to shut in their gas.

The long, difficult battle for the shares of Canadian Southern Petroleum is finally nearing an end, with white knight Canadian Oil Sands Trust beating out hostile takeover bids by Petro-Canada and Canadian Superior and obtaining 65% of the company’s outstanding shares.

Taking the next step in its legal battle, the state of Louisiana filed a request for a preliminary injunction in federal district court this week to temporarily halt a western Gulf of Mexico oil and natural gas lease sale that is scheduled for Aug. 16.

Taking the next step in its legal battle, the state of Louisiana filed a request for a preliminary injunction in federal district court last week to temporarily halt a western Gulf of Mexico oil and natural gas lease sale that is scheduled for Aug. 16.

After being outbid twice in its hostile takeover battle for the shares of Canada Southern Petroleum, Petro Canada said Thursday that it had no intention of raising its offer for a third time. White knight Canadian Oil Sands bested Petro-Canada’s latest $13/share offer by a dime on Wednesday, retaining the favor of the Canada Southern board.

Newcomers to the Canadian arctic natural gas scene have fired the opening shot in a battle for access to transportation services in the C$7 billion (US$6 billion) Mackenzie Gas Project sponsored by the producer old guard.

As the battle for energy trading supremacy continues to heat up, both Nymex Holdings Inc., the holding company of the New York Mercantile Exchange (Nymex), and Atlanta, GA-based IntercontinentalExchange (ICE) both reported strong earnings increases over 2004. The head-to-head competition for energy trading market share has increased over the past year (see Daily GPI, Feb. 16).

Ignoring the prospect of a pitched political battle, California Gov. Arnold Schwarzenegger Thursday renominated the chairman of the California Energy Commission (CEC), Joseph Desmond, for a full six-year term. Leaders in the Democratic-controlled state legislature already have indicated publicly they will block the confirmation of Desmond, a former Silicon Valley business leader who has served as Schwarzenegger’s chief energy adviser.

A new battle is developing in a marathon industry campaign to maintain access to a prime Alberta drilling target — “sour” natural gas, steeped in hazardous hydrogen-sulphide, which accounts for nearly one-third of the main Canadian producing province’s reserves.