Decade

A deal has been finalized in a Houston federal court to reduce the prison sentence of former Enron Corp. CEO Jeffrey Skilling by almost a decade to 14 years, making him eligible for release from a Denver federal prison in 2017. The Department of Justice in May had reached an agreement with Skilling, 59, under which he waived his right to any further appeals and allowed more than $40 million of his forfeited assets to be distributed to victims of Enron’s collapse in 2001 (see NGI, May 13). Skilling was convicted in 2006 on 19 criminal counts and sentenced to 24 years and four months (see NGI, May 29, 2006). The U.S. Court of Appeals for the Fifth Circuit in New Orleans twice said the sentence had been miscalculated (see NGI, April 11, 2011).

A deal was finalized Friday in a Houston federal court to reduce the prison sentence of former Enron Corp. CEO Jeffrey Skilling by almost a decade to 14 years, making him eligible for release from a Denver federal prison in 2017. The Department of Justice in May had reached an agreement with Skilling, 59, under which Skilling waived his right to any further appeals and allowed more than $40 million of his forfeited assets to be distributed to victims of Enron’s collapse in 2001 (see Daily GPI, May 9). Skilling was convicted in 2006 on 19 criminal counts and sentenced to 24 years and four months (see Daily GPI, May 26, 2006). The U.S. Court of Appeals for the Fifth Circuit in New Orleans twice said the sentence had been miscalculated (see Daily GPI, April 8, 2011).

U.S. explorers took about a decade to claim and begin producing the huge onshore unconventional bounty. Now that they’ve got their rocks of plenty in hand, the task today is determining what to keep and what to toss, according to a Credit Suisse analyst.

The costly and complex decision to shift from being one of the biggest natural gas producers to becoming one of the largest liquids operators showed some positives for Chesapeake Energy Corp. in the first three months of this year, which also gained on improving natural gas prices.

With the advent of more renewables and more retirement of coal-fired power plants, an almost three-decade-old coalition of energy regulators and planners from throughout the western states has authorized a study of the level of coordination among the natural gas and electrical systems in the region.

President Obama called on Congress Friday to earmark $2 billion over the next decade to support advanced research into clean-energy vehicles that run on domestically produced natural gas, electricity and homegrown biofuels.

President Obama called on Congress Friday to earmark $2 billion over the next decade to support advanced research into clean-energy vehicles that run on domestically produced natural gas, electricity and homegrown biofuels.

After a decade of steady decline, natural gas demand in California is forecast to grow annually, albeit slowly, during the next 10 to 15 years, an updated statewide report to the state legislature says.

U.S. natural gas prices for 2013 will be lower than predicted in late October because winter weather so far has been missing in action, Raymond James & Associates’ energy team said this week. Analysts with Goldman Sachs also have reduced their price forecast but said they remain bullish on the market.