Saying its latest electric utility rate increase could have been two or three times bigger, Pacific Gas and Electric Co. (PG&E) signaled Wednesday that some recent moderation in wholesale natural gas prices allowed it to lower the increase to 6%, or $645 million. Effective Wednesday, the lower rate hike is a sign that another power rate hike next year might be avoided, according to Tom Bottorff, senior vice president, regulatory relations.
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ExxonMobil Builds Piceance Basin Position
ExxonMobil Corp. joined two other majors in recent days to build a bigger leasehold in natural gas plays onshore in North America.
Goodrich Adds to Haynesville Position
Goodrich Petroleum Corp. has acquired a bigger leasehold in the Haynesville Shale and increased its capital spending plan for the year to accommodate more drilling. The Houston-based independent producer also upped its production guidance for the second quarter.
Gas Bears — More than One Kind in Rockies
Northwestern Colorado’s natural gas producers in Garfield County could be facing additional regulations for drilling operations due to a wildlife issue that is bigger than mule deer or sage grouse and potentially life-threatening to workers.
Gas Bears — More than One Kind in Rockies
Northwestern Colorado’s natural gas producers in Garfield County could be facing additional regulations for drilling operations due to a wildlife issue that is bigger than mule deer or sage grouse and potentially life-threatening to workers.
NV Consumer Advocate, Utilities Spar Over Outages, Rates
In what could be part of the prelims to bigger, harder-hitting fights, Nevada Consumer Advocate Eric Witkoski in March has publicly lashed out at Sierra Pacific Resources’ two utilities, alleging possible shoddy maintenance practices in the north and an excessive general rate increase request in the south. Meanwhile, the Nevada Public Utilities Commission (PUC) that regulates the utilities has been mostly quiet.
Canadian Court Finds Mackenzie Pipe Failed to Consult with Aboriginals
The smallest piece of Canada’s northern natural gas pipeline project turned into one of its bigger headaches Nov. 10, when protesting Alberta natives won an aboriginal rights ruling by the Federal Court of Canada.
Canadian Court Finds Mackenzie Pipe Failed to Consult with Aboriginals
The smallest piece of Canada’s northern natural gas pipeline project turned into one of its bigger headaches Nov. 10, when protesting Alberta natives won an aboriginal rights ruling by the Federal Court of Canada.
Barclays Buys 40% Stake in NGP Energy Capital Fund
Barclays Capital, the investment banking division of Barclays plc, said it bought a 40% stake in private equity firm NGP Energy Capital, giving Barclays a bigger stake in the North American energy capital management business. The deal follows Barclays Capital’s assumption of Duke Energy North America’s natural gas and power derivative contracts last November (see NGI, Nov. 21, 2005).
Barclays Buys 40% Stake in NGP Energy Capital Fund
Barclays Capital, the investment banking division of Barclays plc, said it bought a 40% stake in private equity firm NGP Energy Capital, giving Barclays a bigger stake in the North American energy capital management business. The deal follows Barclays Capital’s assumption of Duke Energy North America’s natural gas and power derivative contracts last November (see Daily GPI, Nov. 21, 2005).