The U.S. energy pipeline sector’s oil contingent is expressing concerns about the studies used by the Pipeline and Hazardous Materials Safety Administration (PHMSA) to develop new safety requirements for natural gas pipelines.
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Questions Swirl on Encana CEO’s Abrupt Resignation
Randy Eresman, who has led Encana Corp. since 2006, suddenly resigned on Friday, fueling speculation about whether he jumped or was pushed out of the boardroom.
Pennsylvania Urges Adoption of DRBC Water Rules
Pennsylvania officials are renewing their effort to get fellow members of the Delaware River Basin Commission (DRBC) to agree to revised water quality regulations that could ultimately open the basin to expanded Marcellus Shale natural gas drilling.
Encana to Sell Barnett Shale Portfolio
Encana Corp. has launched a plan to sell its 52,000 net acres of property in the Barnett Shale of North Texas, which currently produce 125 MMcfe/d.
June Settles Lower, Yet Fund Longs Lining Up
June natural gas futures eased, although a major contingent — funds and managed accounts — now appears to be aligned on the long side of the market and technical support remains intact. At the close June futures had fallen 2.3 cents to $4.670 and July was lower by 2.5 cents to $4.738. June crude oil cascaded lower giving up $2.47 to $111.05/bbl.
Sabine Pass Liquefaction Project Receives Support at FERC
Support — contingent on FERC first resolving some concerns — has been expressed for Sabine Pass Liquefaction LLC’s application to add a new liquefaction operation to its liquefied natural gas (LNG) terminal in Cameron Parish, LA, transforming it into a “bidirectional facility” for the purpose of exporting LNG. A trade group representing municipal gas utilities appeared to be the sole opponent to the project.
FERC Annuls Order for Transco to Sell 400-Mile South Texas Pipe System
In an unusual move Wednesday, the Federal Energy Regulatory Commission, without any prodding from the courts, vacated an order that authorized Transcontinental Gas Pipe Line to spin off its 400-mile South Texas mainline and lateral facilities to an unaffiliated Texas intrastate pipeline, Enbridge Pipelines LP.
S&P: ‘No Risk’ of Dynegy Downgrade in Short-term; Traders Stand Pat
While Wall Street analysts and ratings agencies with post-Enron jitters were coming down hard on Dynegy Corp. Friday, traders in the market brushed aside the latest ratings changes, saying they had no problems with the veteran marketing company as a counterparty.