Created

A separate arena has been created for a duel over constitutional aspects of Canada’s northern pipeline plan, sparing the beleaguered Mackenzie Gas Project (MGP) a potentially lengthy further regulatory delay.

Duncan Energy Partners LP, a master limited partnership (MLP) created by a subsidiary of Houston-based Enterprise Products Partners LP, is planning to raise up to $313.95 million for an initial public offering (IPO) that would spin off from Enterprise in early 2007. Duncan initially will gain a 66% equity ownership in several Enterprise subsidiaries, including its Mont Belvieu, TX, storage facilities.

Duncan Energy Partners LP, a master limited partnership (MLP) created by a subsidiary of Houston-based Enterprise Products Partners LP, on Thursday filed a Form S-1 with the Securities and Exchange Commission (SEC) to raise up to $313.95 million for an initial public offering (IPO). The IPO, expected to spin off in early 2007, initially will own some of Enterprise’s Gulf Coast midstream assets, including its Mont Belvieu facilities.

Denver-based Vantage Energy LLC, a private oil and natural gas company created by the former president of EnCana Oil & Gas USA Inc. and the former CFO of Bill Barrett Corp., last week received $470 million in equity commitments from an investment group made up of Quantum Energy Partners, Carlyle/Riverstone and Lime Rock Partners.

Denver-based Vantage Energy LLC, a private oil and natural gas company created two months ago by the former president of EnCana Oil & Gas USA Inc. and the former CFO of Bill Barrett Corp., on Tuesday announced it had received $470 million in equity commitments from an investment group made up of Quantum Energy Partners, Carlyle/Riverstone and Lime Rock Partners.

Higher and more volatile natural gas prices have created opportunities for some and challenges for others. Hedging became more popular with producers last year as they attempted to lock in higher prices. Meanwhile, gas buyers tangled with a difficult market while wondering what is to come.

Bill Hederman, the former chief market-watcher for the Federal Energy Regulatory Commission, has directed his newly created Natural Resources Group at the Washington, DC office of Morgan, Lewis & Bockius LLP in the publishing of a FERC compliance manual for energy company executives, illustrating the Commission’s expanded powers under the new Energy Policy Act of 2005 (EPAct2005).

Sempra LNG on Monday said it signed a 20-year deal to provide Italy’s Eni S.p.A, a world leader in oil and gas production, with approximately 40% of the 1.5 Bcf/d capacity to be created by Sempra LNG’s Cameron liquefied natural gas (LNG) terminal now under development near Lake Charles, LA.

The current factors affecting the gas market have created a “hair trigger environment for gas prices,” according to Consultant Stephen Smith. And FERC’s Steve Harvey, deputy director of market oversight and assessment, seems to agree that most market indicators currently point to continued high prices through the winter and perhaps much longer.