Become

PanCanadian Petroleum Ltd. has completed its C$65 million (US$43 million) acquisition of Causeway Energy Corp., which has now become a subsidiary of the Calgary-based producer. The acquisition, which includes the assumption of C$4 million of Causeway debt, includes properties in northern Montana and southern Saskatchewan, including 210,000 net acres of undeveloped land. The deal was first announced in June (see Daily GPI, June 18).

Petro-Canada has become the latest natural gas producer to resort to a pipeline bypass to cut costs of transportation on the TransCanada-Nova system by ducking around its former monopoly franchise in Alberta.

Petro-Canada has become the latest natural gas producer to resort to a pipeline bypass to cut costs of transportation on the TransCanada-Nova system by ducking around its former monopoly franchise in Alberta.

Michael C. Morgan has been elected president of Kinder Morgan Inc., Kinder Morgan Energy Partners LP and Kinder Morgan Management, LLC. Morgan will become the third member of the Office of the Chairman, joining Richard D. Kinder, chairman and CEO, and William V. Morgan, vice chairman. “Mike has been a core member of our senior management team since the company was formed in February of 1997, and he has demonstrated outstanding leadership and strategic acumen in spearheading Kinder Morgan’s acquisition efforts,” Kinder said. He noted KMP has made 23 accretive acquisitions totaling more than $5 billion in the past four and one-half years. Going forward William Morgan said earnings growth would “come half from internal growth and half from additional acquisitions. Mike Morgan served as vice president of strategy and investor relations from January of 2000 to the present, and as vice president of corporate development from 1997 to 2000. He previously worked in McKinsey & Co.’s energy practice and for PSI Energy, Inc.

Planning, developing and building natural gas pipelines over the last decade has become a difficult endeavor, filled with the risk of numerous regulatory hurdles and barriers to entry, according to a panel of transmission experts last week at GasMart/Power 2001 in Tampa, FL.

Planning, developing and building natural gas pipelines over the last decade has become a difficult endeavor filled with the risk of numerous regulatory hurdles and barriers to entry, according to a panel of transmission experts last week at GasMart/Power 2001 in Tampa, FL.

All power suppliers in the West could become the target of a formal FERC investigation into their wholesale rates under a draft emergency bill that is being considered by Chairman Joe Barton (R-TX) and members of the House Energy and Air Quality Subcommittee.

Texas has become the second state in the country to enact an integrity management plan for its pipelines, after the Texas Railroad Commission unanimously adopted rules last week that strengthen the safety program. So far, California is the only other state to adopt a pipeline integrity management program.

Talisman Energy Inc. is poised to become the dominant player in the growing core area of gas-rich Alberta after it set up a friendly agreement last week to purchase cross-town Calgary neighbor Petromet Resources Ltd. for C$806 million in cash and assumed debt. If the deal closes as expected, Talisman would add 72 MMcfe/d to its production base this year and 144 MMcfe/d in 2002.