Oregon Gov. Ted Kulongoski held a one-day Energy Summit last Wednesday and broadened his outlook to be all-inclusive of various traditional and alternative energy options, including the import of liquefied natural gas (LNG). Kulongoski would not rule out any options and said he will soon create a state unit to ferret them out.
Broadened
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Linn Energy Adds TX, Appalachian Assets, Increases Reserves by 57%
Linn Energy LLC last week broadened its domestic reach by acquiring a leasehold in the Texas Panhandle and enriching its natural gas-heavy assets in the Appalachian Basin. The separate transactions, which together cost the company $454 million, will sweeten the limited partnership’s total proved reserve base by 57%, with proved reserves up by 355 Bcfe and additional output of 38 MMcfe/d.
Transportation Notes
After issuing a customer-specific OFO for Monday, Pacific Gas & Electric broadened it into a systemwide Stage 2 high-inventory OFO for Tuesday. PG&E set noncompliance charges of $1/Dth for exceeding a daily positive imbalance tolerance of 2% (the customer-specific order had the same charges but the tolerance level was 5%).
FERC Widens Scope of Gas, Electric Affiliates Subject to Standards of Conduct
The Federal Energy Regulatory Commission last Tuesday significantly broadened the scope of energy affiliates that will be subject to the agency’s standards of conduct governing the relationships between regulated natural gas pipeline/electric transmission providers and their affiliates.
FERC Widens Scope of Gas, Electric Affiliates Subject to Standards of Conduct
The Federal Energy Regulatory Commission on Tuesday significantly broadened the scope of energy affiliates that will be subject to the agency’s standards of conduct governing the relationships between regulated natural gas pipeline/electric transmission providers and their affiliates.
Hanover Buys Schlumberger’s Gas Compression Assets
Hanover Compressor Co., which rents, repairs and services natural gas compressors worldwide, broadened its customer base last Thursday, agreeing to acquire several compression and gas handling joint venture projects of Schlumberger for $761 million. Hanover will pay Schlumberger $270 million in cash, $150 million in a long-term loan and issue shares worth $283 million, effectively giving Schlumberger a 10% stake in the company.
Hanover Buys Schlumberger’s Gas Compression Assets
Hanover Compressor Co., which rents, repairs and services natural gas compressors worldwide, broadened its customer base Thursday, agreeing to acquire several compression and gas handling joint venture projects of Schlumberger for $761 million. Hanover will pay Schlumberger $270 million in cash, $150 million in a long-term loan and issue shares worth $283 million, effectively giving Schlumberger a 10% stake in the company.
Amoco, Burlington, SoCalGas Expand Attack on El Paso
Amoco, Burlington Resources and now Southern California Gas have broadened the attack on El Paso Natural Gas’ capacity allocation procedures and have requested that FERC block El Paso’s new $38 million contract with Enron for 1.2 Bcf/d of firm capacity.
Amoco, Burlington, SoCalGas Expand Attack on El Paso
Amoco, Burlington Resources and now Southern California Gas have broadened the attack on El Paso Natural Gas’ capacity allocation procedures and have requested that FERC block El Paso’s new $38 million contract with Enron for 1.2 Bcf/d of firm capacity.
Semco Grows in Construction, Engineering
Semco Energy Inc. of Port Huron, MI, broadened its presence inthe southern United States by acquiring two construction companiesand an engineering firm that provide services mainly to gas andtelecommunications companies.