Cooperate

The Alaska Gasline Port Authority (AGPA) and the Alaska Natural Gas Development Authority (ANGDA) have shaken hands on an agreement to cooperate in their efforts to build a “All-Alaska” natural gas pipeline. However, the memorandum of understanding (MOU) signed earlier this month holds no guarantees that the long-anticipated gas line eventually will transport gas to Lower 48 markets.

Certain employees of El Paso Corp. used “unsupportable methods” over a four-year period, which resulted in a 41% overbooking of oil and natural gas reserves, according to an independent review released last week. No current or former employees were named in a statement by the company.

Kenneth Rice, 45, who formerly was co-CEO of Enron Corp.’s broadband division, pleaded guilty on Friday to one count of securities fraud. He agreed to pay a $13.7 million fine, and now faces up to 10 years in prison. Sentencing is set for Jan. 31, 2005.

Kenneth Rice, 45, who formerly was co-CEO of Enron Corp.’s broadband division, pleaded guilty on Friday to one count of securities fraud. He agreed to pay a $13.7 million fine, and now faces up to 10 years in prison. Sentencing is set for Jan. 31, 2005.

The former corporate secretary for Enron Corp. is expected to agree to settle charges with the Securities and Exchange Commission (SEC) and to help federal prosecutors in their investigation of other company executives, the Wall Street Journal reported Wednesday.

El Paso Corp. said last week it would cooperate fully with a Securities and Exchange Commission (SEC) investigation that apparently is focused principally on the company’s power plant contract restructurings, related disclosures and accounting, including in particular its Eagle Point transaction that was completed last year.

El Paso Corp. said it intends to cooperate fully with a Securities and Exchange Commission (SEC) investigation that apparently is focused principally on the company’s power plant contract restructurings, related disclosures and accounting, including in particular its Eagle Point transaction that was completed last year.

Canadian-based producers EnCana Corp. and Devon Canada Corp. have agreed to cooperate on developing the natural gas and bitumen resources at EnCana’s Christina Lake thermal recovery project in northeastern Alberta. The competing development plans, in which Devon was producing gas and EnCana wanted to produce bitumen, had been stalled after EnCana protested Devon’s project. The companies were awaiting a hearing by the Alberta Energy and Utilities Board (AEUB). The agreement, reached this week, will allow the companies to pool their resources and money on both projects.

The American Gas Association currently is polling participants in its weekly storage survey to see if they will continue to cooperate with its survey through next April when the Energy Information Administration (EIA ) will take over the chore. AGA had initially announced in mid-October that it would publish its last survey on Jan. 2, 2002, and EIA followed up with an announcement last month that it would step in.