Bidder

Industry Briefs

Sabal Trail Transmission LLC, a joint venture of Spectra Energy and NextEra Energy Inc., has been named the winning bidder to build a 465-mile interstate natural gas pipeline project by Florida Power & Light (FPL) to provide transportation services for its power generations needs beginning in May 2017. FPL, the largest power company in the state, put out the request for proposals for a new pipeline in December. Sabal Trail would have an estimated price tag of $3 billion and originate in Tallapoosa County, AL, extend through Georgia and terminate at the Central Florida Hub near Orlando (see NGI, July 8). Through a capacity lease with Transcontinental Gas Pipe Line (Transco), natural gas supply would be accessed at Transco’s Station 85 in Choctaw County, AL. The pipeline, when completed, would have the capacity to transport more than 1 Bcf/d to serve local distribution companies, industrial users and natural gas-fired power generators. According to the Energy Information Administration, Florida generates 62% of its power from 1.1 Tcf of natural gas.

July 29, 2013

One and Counting: Herd in Sempra-RBS Race Thinned

San Diego-based Sempra Energy remains tight-lipped about reports that JPMorgan Chase is now the exclusive bidder for the Royal Bank of Scotland’s (RBS) 51% share of its trading joint venture with a unit of Sempra. The price remains close to $4 billion for the unit, which trades energy, metals and other commodities through RBS Sempra Commodities, according to reports by news service Reuters.

January 25, 2010

Reports: Herd in Sempra-RBS Race Thinned to One

San Diego-based Sempra Energy remained tight-lipped Wednesday about reports that JPMorgan Chase is now the exclusive bidder for the Royal Bank of Scotland’s (RBS) 51% share of its trading joint venture with a unit of Sempra. The price remains close to $4 billion for the unit, which trades energy, metals and other commodities through RBS Sempra Commodities, according to reports by news service Reuters.

January 22, 2010

Falcon Storage Is Lone Bidder for Alabama Reservoirs Lease

Houston-based Falcon Gas Storage Co. is the only bidder seeking to lease three depleted gas reservoirs in Alabama waters north of Dauphin Island. Bids were opened Dec. 19, about two years after Falcon first started talking to the state about leasing the reservoirs for its MoBay Storage Hub project.

December 26, 2007

Falcon Storage Is Lone Bidder for Alabama Reservoirs Lease

Houston-based Falcon Gas Storage Co. is the only bidder seeking to lease three depleted gas reservoirs in Alabama waters north of Dauphin Island. Bids were opened Dec. 19, about two years after Falcon first started talking to the state about leasing the reservoirs for its MoBay Storage Hub project.

December 24, 2007

Lower Tertiary’s Walker Ridge Grabs Top Bid in MMS Lease Sale

The Walker Ridge in the Lower Tertiary of the deepwater Gulf of Mexico (GOM), which may — or may not — hold vast amounts of oil and natural gas reserves, captured the highest bid for a block in the Minerals Management Service’s (MMS) Central GOM sale last week.

October 15, 2007

Alaska Lease Sale Garners $46.7M, Most of It from Shell

Royal Dutch Shell was the big bidder on leases in Alaska’s Beaufort Sea in the Minerals Management Service’s (MMS) Oil and Gas Lease Sale 195 in Anchorage, AK, on Wednesday. Shell’s bids totaled more than $44 million out of the $46.7 million received by MMS for 127 blocks totaling about 618,751 offshore acres. ConocoPhillips Alaska Inc. and Armstrong Alaska Inc. placed the remaining bids.

April 4, 2005

Alaska Lease Sale Garners $46.7M, Most of It from Shell

Royal Dutch Shell was the big bidder on leases in Alaska’s Beaufort Sea in the Minerals Management Service’s (MMS) Oil and Gas Lease Sale 195 in Anchorage, AK, on Wednesday. Shell’s bids totaled more than $44 million out of the $46.7 million received by MMS for 127 blocks totaling about 618,751 offshore acres. ConocoPhillips Alaska Inc. and Armstrong Alaska Inc. placed the remaining bids.

April 1, 2005

EnCana Puts More Conventional Assets on Auction Block

EnCana Corp. said it is drawing strong interest in the conventional oil and gas producing assets and the gathering and processing assets that it plans to auction to the highest bidder over the next few months. Among the assets on the block are about 15 properties in central and southern Alberta, 1.4 million acres offshore in the Gulf of Mexico, five production blocks in Ecuador, and some gathering and processing facilities in the Rocky Mountain region.

February 7, 2005

EnCana Puts More Conventional Assets on Auction Block

EnCana Corp. said it is drawing strong interest in the conventional oil and gas producing assets and the gathering and processing assets that it plans to auction to the highest bidder over the next few months. Among the assets on the block are about 15 properties in central and southern Alberta, 1.4 million acres offshore in the Gulf of Mexico, five production blocks in Ecuador, and some gathering and processing facilities in the Rocky Mountain region.

February 3, 2005
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