Cleared

Natural Gas Exchange Inc. (NGX) has agreed to provide the Alberta Department of Energy with an Alberta gas price index, referred to as the Alberta Market Price (AMP). The AMP is a volume-weighted average of cleared transacted prices for all gas delivered in a calendar month at the NGX Alberta market center on the TransCanada Corp. Alberta System, NGX said. The department will use the AMP to calculate its gas reference price, forming the basis of the royalty obligations for Alberta energy producers. The launch of the new pricing regime is planned for January.

McMoRan Exploration Co., which has built a sizable natural gas-weighted portfolio in the shallow waters of the Gulf of Mexico — and with it sizable drilling costs — saw its share price fall by double digits early last week after reporting a net loss in 3Q2010 of $25.3 million (minus 26 cents/share). Revenue in the latest quarter fell almost 13% from a year ago to $94.8 million.

Ruby Pipeline LLC has cleared the final regulatory hurdle to begin construction of its 680-mile east-to-west natural gas project, announcing last Monday that FERC has approved the company’s application for a Notice to Proceed and Construct.

Ruby Pipeline LLC has cleared the final regulatory hurdle to begin construction of its 680-mile east-to-west natural gas project, announcing Monday that FERC has approved the company’s application for a Notice to Proceed and Construct.

Peregrine Midstream Partners LLC unit Ryckman Creek Resources LLC was cleared to use FERC’s prefiling review process for its proposed Ryckman Creek Gas Storage Project in Uinta County, WY, near the Opal Hub.

ExxonMobil is drawing closer to completing its $41 billion acquisition of U.S. independent XTO Energy Inc. The company said in a regulatory filing that the deal cleared regulatory hurdles in the United States. and The Netherlands. “The applicable waiting period provided under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended…expired on March 15, 2010 without the issuance of a second request,” ExxonMobil said. “The Dutch Competition Authority provided a regulatory clearance of the pending merger on March 9, 2010. Closing of the transaction remains subject to approval by the shareholders of XTO Energy and the satisfaction (or, to the extent permitted by applicable law, waiver) of the other conditions provided in the merger agreement among the parties.” The combination of the companies would add about 45 Tcfe to ExxonMobil’s resource base and lift its gas weighting to 45% (see NGI, Dec. 21, 2009).

ExxonMobil is drawing closer to completing its $41 billion acquisition of U.S. independent XTO Energy Inc. The company said in a regulatory filing Tuesday that the deal cleared regulatory hurdles in the U.S. and The Netherlands.

ExxonMobil is drawing closer to completing its $41 billion acquisition of U.S. independent XTO Energy Inc. The company said in a regulatory filing Tuesday that the deal cleared regulatory hurdles in the U.S. and The Netherlands.

After five years of study an environmental and socioeconomic Joint Review Panel for the Mackenzie Gas Project (MGP) cleared the regulatory path toward a possible go-ahead for the mega-pipeline to tap far North reserves, rejecting environmentalists arguments to dump the whole project and coming up with a suggested compromise in the decades-long land claims battle with the Canadian aboriginal Deh Cho Dene Nation. The panel’s recommendation that the National Energy Board (NEB) approve the project sets the stage for about nine months of consideration by that agency.