Brought

Brought on by lower earnings in its natural gas transmission segment, partially offset by higher earnings from the power business, TransCanada Corp. on Friday posted 2Q2003 net income of C$202 million or C$0.42 per share, compared to C$205 million or C$0.43 per share for the second quarter 2002. The quarter was almost like deja vu from 1Q2003, when the power segment’s contribution bailed out the company (see Daily GPI, April 28).

Spokespeople for both sides confirmed that a lawsuit brought by California’s lieutenant governor in a state Superior Court in Los Angeles quietly late last month dropped McGraw-Hill and its two industry publications from the legal action against trading companies that alleges widespread wholesale natural gas market manipulation.

Spokespeople for both sides confirmed that a lawsuit brought by California’s lieutenant governor in a state Superior Court in Los Angeles quietly late last month dropped McGraw-Hill and its two industry publications from the legal action against trading companies that alleges widespread wholesale natural gas market manipulation.

Although it was unclear why, spokespeople for both sides Tuesday confirmed that a lawsuit brought by California’s lieutenant governor in a state Superior Court in Los Angeles quietly late last month dropped McGraw-Hill and two of its industry publications from the legal action that alleges widespread wholesale natural gas market manipulation. The court dismissed without prejudice the suit against the publishing company at the request of attorneys for Lt. Gov. Cruz Bustamante, who filed suit last year as a private citizen.

Brought lower due in part to a “major divestiture program” in its exploration and production portfolio, ConocoPhillips posted proved reserves of 7.8 billion boe at year-end 2002, down approximately 600 million boe from results at the end of 2001, which were 8.4 billion boe.

Brought lower due in part to a “major divestiture program” in its exploration and production portfolio, ConocoPhillips posted proved reserves of 7.8 billion boe at year-end 2002, down approximately 600 million boe from results at the end of 2001, which were 8.4 billion boe.

Bucking the trend that has brought other companies’ merchant operations to the brink of disaster, New Orleans-based Entergy Corp. on Tuesday reported that its energy trading earnings for the fourth quarter were up 33% from the same period of 2001, while overall, quarterly earnings rose more than 25%.

TransCanada brought the Lachenaie Compressor Station on its TransQuebec & Maritimes system back online at 3 p.m. EST Wednesday and said a curtailment of all discretionary services (including diversions) to East Hereford, PQ would be lifted with the day’s intraday 2 nominations cycle. Lachenaie, about 45 kilometers north of Montreal, experienced an unexpected shutdown Tuesday morning. Preliminary investigations have indicated an electrical ground fault to be the root cause of the outage, the pipeline said. For Thursday, no curtailments are expected for deliveries to East Hereford. However, no increases in nominations to East Hereford will be authorized to ensure sufficient recovery of line pack and pressures in the affected area, TransCanada said.

A FERC administrative law judge (ALJ) urged the full Commission last Thursday to dismiss a series of complaints brought by power companies in Nevada, California and Washington seeking to reform above-market electric contracts that they entered into with generators during the height of the western energy crisis in 2000 and 2001.