Consolidated

Williams Pays $925M to Acquire Bakken Shale Leasehold

As it shifts its portfolio toward more oily prospects, natural gas producer Williams Cos. said Monday it will pay $925 million to acquire 85,800 net acres in the Bakken Shale.

November 16, 2010

Chesapeake Leads Anchor Shippers on Spectra Project

Chesapeake Energy Corp., Consolidated Edison and Statoil Natural Gas have stepped up with binding precedent agreements for capacity on an expansion of Spectra Energy Corp.’s Texas Eastern Transmission and Algonquin Gas Transmission systems to deliver gas to the New Jersey and New York area. The commitments are enough for the company to proceed with the project, Spectra said.

January 4, 2010

Spectra Secures Anchor Shippers for New York Area Project

Chesapeake Energy Corp., Consolidated Edison and Statoil Natural Gas have stepped up with binding precedent agreements for capacity on an expansion of Spectra Energy Corp.’s Texas Eastern Transmission and Algonquin Gas Transmission systems to deliver gas to the New Jersey and New York area. The commitments are enough for the company to proceed with the project, Spectra said Monday.

December 29, 2009

Committee Begins Hearings on Leasing Reform Bill

House Natural Resources Committee Chairman Nick Rahall (D-WV) has introduced a comprehensive bill, the Consolidated Land, Energy, and Aquatic Resources (CLEAR) Act of 2009, to restructure regulation of energy leasing on federal lands and the Outer Continental Shelf (OCS), including consolidating energy and mineral leasing programs, raising lease rental rates, assessing fees for nonproducing leases and ending the royalty-in-kind program.

September 14, 2009

Committee Begins Hearings on Leasing Reform Bill

House Natural Resources Committee Chairman Nick Rahall (D-WV) has introduced a comprehensive bill, the Consolidated Land, Energy, and Aquatic Resources (CLEAR) Act of 2009, to restructure regulation of energy leasing on federal lands and the Outer Continental Shelf (OCS), including consolidating energy and mineral leasing programs, raising lease rental rates, assessing fees for nonproducing leases and ending the royalty-in-kind program.

September 11, 2009

Transportation Notes

Southern California Gas did not extend a high-linepack OFO beyond Friday.

April 20, 2009

Con Edison to Invest $1.7B in Power Delivery System This Year

Consolidated Edison Co. of New York Inc. (Con Edison) last Wednesday said it plans to invest more than $1.7 billion this year to upgrade and reinforce its electric delivery system, while continuing to press its customers to be more energy efficient.

June 2, 2008

MichCon To Lower Rates for 1.2 Million Gas Customers

Michigan Consolidated Gas (MichCon), DTE Energy’s natural gas utility, will ring in the New Year with a 6.7% rate reduction for 1.2 million customers in Michigan, the company said Thursday.

December 28, 2007

Industry Brief

Powder River Basin Gas Corp. said it completed the first well of a 25-well drilling program on the Biamante project on the Powder River Consolidated Field in Goliad County, TX. The Biamante #1 is now completed and has been put into production. Production for the first 24 hours was set at 380 Mcf/d of natural gas. However, this rate will be monitored over the next several days to determine a stable flow rate. The 25-well program is scheduled for completion to full production in 2009. Production estimates based on recent engineering reports predict an average of 200 Mcf/d of gas as a conservative target. “This is another exciting program for Powder River Basin Gas Corp., particularly in that it is located in an area we are already familiar and have had success with,” said Powder River CEO Brian Fox. Calgary-based Powder River is active in production, acquisition and marketing of crude oil and natural gas properties. The company’s primary interests are in Wyoming, Oklahoma, Louisiana and Texas.

October 15, 2007

New York Regulators Approve Con Edison Rate Increase, Decoupling

The New York State Public Service Commission last week approved a levelized three-year plan establishing rates for Consolidated Edison Co. of New York Inc.’s (Con Edison) gas delivery service for Oct. 1 through Sept. 30, 2010. Regulators also approved a revenue decoupling mechanism (RDM) intended to encourage conservation.

September 24, 2007