Dated

With the “right kind of prices, the right kind of drilling,” natural gas shale could be the “long-dated fuel” for North America, Anadarko Petroleum CEO Jim Hackett said last week. “But people shouldn’t get stars in their eyes without gas prices getting back pretty high,” he told investors at the company’s annual conference.

With the “right kind of prices, the right kind of drilling,” natural gas shale could be the “long-dated fuel” for North America, Anadarko Petroleum CEO Jim Hackett said Tuesday. “But people shouldn’t get stars in their eyes without gas prices getting back pretty high,” he said at the company’s annual investor conference.

Texas Eastern noted that in a letter dated Nov. 10, 2005, it had informed all firm storage customers that it would monitor storage activity and, if necessary, issue customer-specific OFOs to those who exceeded their recommended maximum withdrawal limits. The first period in the recommended withdrawal plans ended Dec. 31, and on Wednesday Texas Eastern issued five customer-specific OFOs, that will take effect Jan. 9. The orders require an affected customer to deliver its contract’s firm transportation MDQ (Maximum Daily Quantity) “under Rate Schedules CDS, FT-1 and SCT, as applicable, in the most downstream zone of delivery to the maximum extent contractually feasible prior to utilizing storage services.” Texas Eastern said the OFOs will be canceled when customer inventories are restored to planned levels.

El Paso Corp. on Tuesday eliminated what the CEO called the “most significant single long-dated position remaining” in the company’s energy trading business and its only tolling agreement with the sale of the power purchase agreement (PPA) between El Paso Marketing LP and Cordova Energy Co. LLC to Constellation Energy Commodities Group Inc.