Block

El Paso Energy Partners has installed the new Prince Tension Leg Platform (TLP) facility in 1,450 feet of water on Ewing Bank Block 1003. The platform is located about 120 miles south of New Orleans and will gather and process oil and gas production from the Prince Field. It also will serve as a landing spot for future oil and gas developments in the Ewing Bank and Green Canyon areas of the deepwater trend.

Enron Corp. fired back at California yesterday, filing a lawsuit against a state Senate committee to block a subpoena for internal documents covering virtually its “entire western marketing and trading operations.” The suit against the Senate Select Committee to Investigate Price Manipulation of the Wholesale Energy Market was filed in the Superior Court of the State of California in Sacramento.

Nine months after it began looking for a buyer, Canadian 88 Energy Corp. has taken itself off the selling block, announcing last Tuesday that financial and operating results have improved enough to succeed independently as a mid-sized natural gas producer. Company officials also acknowledged that in their opinion, potential buyers weren’t prepared to pay enough for the Calgary-based company’s increased gas production potential.

Nine months after it began looking for a buyer, Canadian 88 Energy Corp. has taken itself off the selling block, announcing Tuesday that financial and operating results have improved enough to succeed independently as a mid-sized natural gas producer. Company officials also acknowledged that in their opinion, potential buyers weren’t prepared to pay enough for the Calgary-based company’s increased gas production potential.

In an offer expected to be quickly picked up by one of the many natural gas-thirsty majors or independents, Tulsa-based Kaiser-Francis Oil Co. put nearly one-third of its Canadian production up for sale. The gas fields in northeastern British Columbia hold an estimated 55 Bcf, worth about C$202.5 million ($131 million). The fields’ 2001 net income is expected to be C$45.3 million.

Sea Robin said divers are investigating a reported leak on the “J” leg part of its offshore Louisiana system near Eugene Island Block 295, requiring the leg to be removed from service. The pipeline ceased accepting nominations at affected points Tuesday until further notice.

Sixteen years, a complete reorganization and a string of losses later,Canada’s biggest natural gas transporter has decided to follow a recommendation by the nation’s top economists to stop trying to also be the top marketer.

Friction is likely to increase between state and federal regulators on the issue of deregulation if states begin to block retail competition because of the crisis in California, according a new report issued last week by Andersen Consulting. The report, “Energy Crisis in the Western United States: Lessons for Navigating Regulatory and Market Minefields,” was unveiled by Andersen’s North American Energy Consulting Practice at a Washington, D.C. briefing.

Tucson Electric Power Co. contends that California Gov. GrayDavis’ decision to “commandeer” block forward contracts betweenbuyers and sellers in the Power Exchange and transfer them to thestate violated FERC jurisdiction, was illegal and showed littleconcern for the market.