After filing for bankruptcy on Tuesday, SemGroup LP’s problems became even worse on Thursday as it was revealed that the Securities and Exchange Commission and the U.S. Attorney’s Office in Oklahoma City are investigating the company’s collapse (see Daily GPI, July 24).
Became
Articles from Became
Transportation Notes
NGPL said a gas quality problem was reported at the CEM/NGPL BECKHAM receipt point in Beckham County, OK, and the point became unavailable for scheduling Wednesday until further notice.
Transportation Notes
Dominion issued an OFO that became effective Wednesday until further notice. Dominion said it could not tolerate excess deliveries by customers because they jeopardize the pipeline’s ability to receive gas for injection into storage as required by service agreements and the FERC tariff. See the bulletin board for customer actions required by the OFO.
BP Simplifies Management Structure, Job Cuts Expected
Tony Hayward, who became CEO of BP plc in May, on Thursday unveiled a reorganization plan that will reduce the number of business units to two from three and create an alternative energy division.
Spectra Energy Debuts as Stand-Alone Gas Company
Houston-based Spectra Energy Corp., which comprises the former natural gas businesses of Duke Energy, became a stand-alone, publicly traded company last Tuesday, emerging as one of the leading pure-play gas midstream companies in North America. The company’s stock began regular trading Wednesday on the New York Stock Exchange under the symbol SE.
Spectra Energy Debuts as Stand-Alone Gas Company
Houston-based Spectra Energy Corp., which comprises the former natural gas businesses of Duke Energy, became a stand-alone, publicly traded company Tuesday, emerging as one of the leading pure-play gas midstream companies in North America. The company’s stock will begin regular trading Wednesday on the New York Stock Exchange under the symbol SE.
Transportation Notes
Belen Station became unavailable Wednesday morning due to surge control valve problems, El Paso said, adding that parts are being shipped in and if all goes well, the station will be returned to service Friday afternoon. Meanwhile, Belen’s outage has changed a capacity reduction of the San Juan Crossover from 29 MMcf/d to 75 MMcf/d through Friday.
ConocoPhillips Lends Support to GHG Emission Cap
In a sign that companies are taking the initiative to shape expected legislation, ConocoPhillips last week became the first U.S.-based oil major to voice its support for a federal greenhouse gas (GHG) emissions cap.
Spectra Spin-off to Own East Tennessee, Gulfstream Systems
Spectra Energy, which separated from Duke Energy and became a stand-alone, publicly traded company earlier this year, on Friday announced that its midstream master limited partnership (MLP), Spectra Energy Partners LP, plans to spin off as an initial public offering (IPO). The time for the spin-off was not disclosed.
Fourth CA Offshore LNG Proposal Emerges from Tidelands Unit
Esperanza Energy LLC, a unit of San Antonio-based Tidelands Oil & Gas Corp., Wednesday became the fourth company to join the Southern California offshore liquefied natural gas (LNG) terminal competition with a proposal to develop two receiving platforms 10 miles off the coast at Huntington Beach, CA. Esperanza said it hopes to file an application by the end of this year.