Collectively

The American Public Gas Association (APGA), several power sector groups and other parties this week collectively criticized FERC’s plan to use the “public interest” standard as the default standard of review for energy contract modifications. APGA and the others said this approach “flies in the face of the plain language” of the Federal Power Act (FPA) and the Natural Gas Act (NGA) [RM05-35].

A federal claims court judge decided earlier in the month that 13 oil and natural gas exploration companies are collectively entitled to $1.1 billion in restitution for bonuses paid between 1968 and 1984 for offshore drilling leases they were never able to exercise because of subsequent federal policies that discouraged drilling. The joint venture between ExxonMobil and Shell, Aera Energy, was the largest individual holder of the lease rights.

Petrohawk Energy Corp. closed a $425 million acquisition of Wynn-Crosby Energy Inc. and affiliated limited partnerships, which collectively hold about 200 Bcfe of proved reserves in the South Texas, East Texas, Permian, Arkoma and Midcontinent regions. The purchase brings Petrohawk’s total proved reserves to 233 Bcfe, 74% of which are natural gas. It average current production is 57 MMcfe/d. The company funded the transaction with proceeds from a $200 million private equity placement, $210 million in borrowings from its commercial bank group, and cash.

Petrohawk Energy Corp. closed a $425 million acquisition of Wynn-Crosby Energy Inc. and affiliated limited partnerships, which collectively hold about 200 Bcfe of proved reserves in the South Texas, East Texas, Permian, Arkoma and Midcontinent regions. The purchase brings Petrohawk’s total proved reserves to 233 Bcfe, 74% of which are natural gas. It average current production is 57 MMcfe/d. The company funded the transaction with proceeds from a $200 million private equity placement, $210 million in borrowings from its commercial bank group, and cash.

Six governors representing states in New England have collectively filed a petition for a declaratory order at FERC related to the governors’ intention to form a non-profit corporation, the New England States Committee on Electricity (NESCOE), that will serve as New England’s regional state committee (RSC).

A large group of generators last Monday collectively urged FERC to reject a bid by several California parties to gain access to documents or materials produced or obtained by the agency in its nearly year-long investigation of manipulation in western energy markets.

A study of 10 of the largest U.S. natural gas pipelines showsthey can expect to collectively derive a total of $42.5 millionannually in savings from Gas Research Institute technologies over afour-year period from 1997 to 2000, GRI said.