Clear

ConocoPhillips on Friday was warning its shareholders to steer clear of an unsolicited “mini-tender offer” by TRC Capital Corp. to purchase up to 1.5 million shares, or approximately 0.09%, of ConocoPhillips’ outstanding common stock.

If hurricanes stay clear of the Gulf of Mexico again this summer, the U.S. natural gas market can expect to see a repeat of last summer when interruptions were at a minimum and prices were basically kept in check, the Natural Gas Supply Association (NGSA) said last Wednesday.

At the Midyear Issues Summit in Point Clear, AL, the chairman of the Interstate Oil and Gas Compact Commission (IOGCC) said the group’s 30 member states and seven associate member states will continue to push for federal funding to plug orphaned wells in the states. Commission Chair John Hoeven, governor of North Dakota, said the IOGCC remains committed to environmental protection, and in particular the abandoned wells. “There are believed to be tens of thousands of orphan wells in this country,” said Hoeven. “Many of these wells are very shallow and pose no risk to the environment. However, there are others that are unplugged or inadequately plugged and are a genuine threat to the environment and safety. We have focused on these problem wells and are working with Congress on federal funding for a permanent fix.” The IOGCC also renewed a memorandum of understanding (MOU) with the Environmental Protection Agency (EPA). The MOU was created in 2002 to improve regulatory cooperation among the states and the EPA, to promote protection of the environment in a cost-effective manner, to minimize regulatory duplication between the state and national levels of government and to increase efficiency and communication.

Several moderate gains in the Rockies and a few other instances of flat quotes prevented an across the board run of price softness Thursday, but it was clear that the cash market was weakening as a large majority of it recorded falling numbers. Power generation buying for cooling load is dwindling across the southern U.S., and heating load in northern market areas is fairly minimal and largely confined to overnight low-temperature periods.

In a speech to the Alaska legislature Thursday, Sen. Lisa Murkowski (R-AK) urged state legislators to promptly act on legislation that would clear the way for construction of a long-haul natural gas pipeline from the North Slope region, saying that the need for agreement on the pipeline is “even more urgent” than a year ago.

In a speech to the Alaska legislature last Thursday, Sen. Lisa Murkowski (R-AK) urged state legislators to promptly act on legislation that would clear the way for construction of a long-haul natural gas pipeline from the North Slope region, saying that the need for agreement on the pipeline is “even more urgent” than a year ago.

Arizona regulators made it clear last week that they expect the new renewable energy standard and accompanying rules they enacted to be a buffer against overreliance on natural gas-fired electricity in their state. Through stepped-up distributed generation and other means, a majority of the five members on the Arizona Corporation Commission (ACC) see their state being inundated with rooftop solar panels on homes and businesses.

Arizona regulators made it clear Tuesday that they expect the new renewable energy standard and accompanying rules they enacted to be a buffer against overreliance on natural gas-fired electricity in their state. Through stepped-up distributed generation and other means, a majority of the five members on the Arizona Corporation Commission (ACC) see their state being inundated with rooftop solar panels on homes and businesses.

After two weeks, none of California’s liquefied natural gas (LNG) proponents or regulators are clear on what, if any, impact a new California Maritime Security Council might have on the review process for up to four proposed LNG receiving terminals along the Southern California coast. Gov. Arnold Schwarzenegger created the council with an executive order issued Oct. 12, and so far no one among the LNG crowd has commented much.