Defending

Natural Gas Pipeline Company of America (NGPL) Thursday filed a cost and revenue study for the 12-month period ending in October 2009, defending itself against FERC Section 5 charges that it was over-recovering its cost of service. NGPL was one of three pipelines accused by the Federal Energy Regulatory Commission of collecting a return on equity in 2008 of more than 20%, well above Commission guidelines (see Daily GPI, Nov. 20, 2009).

Natural Gas Pipeline Company of America (NGPL) Thursday filed a cost and revenue study for the 12-month period ending in October 2009, defending itself against FERC Section 5 charges that it was over-recovering its cost of service. NGPL was one of three pipelines accused by the Federal Energy Regulatory Commission of collecting a return on equity in 2008 of more than 20%, well above Commission guidelines (see Daily GPI, Nov. 20, 2009).

Defending oil and gas company profits by noting that the money is often reinvested in supply infrastructure, Brian Frank, president of BP Energy Co., North America Gas & Power, told a GasMart 2008 audience in Chicago last Wednesday that the high level of investment up and down the supply chain needs to be maintained in order to keep up with U.S. demand.

Defending oil and gas company profits by noting that the money is often reinvested in supply infrastructure, Brian Frank, president of BP Energy Co., North America Gas & Power, told a GasMart 2008 audience in Chicago Wednesday that the high level of investment up and down the supply chain needs to be maintained in order to keep up with U.S. demand.

After spending four days on the witness stand defending himself, former Enron Corp. CEO Jeffrey Skilling finally appeared to have had enough on Thursday. He angrily accused the government of “rewriting history” and of trying to pin the blame for the company’s collapse on “innocent people.”

El Paso Natural Gas, Southern California Gas and the California Public Utilities Commission (CPUC) responded separately, defending against shipper protests to a precedent agreement between El Paso and SoCal Gas that was filed on March 1. The agreement covers recontracting under six new firm transportation service agreements (TSA) for an average throughput of 750 MMcf/d on El Paso mainly from the San Juan Basin to California border delivery points.

Defending its hostile takeover attempt for Denver-based Barrett Resources Corp., Royal Dutch/Shell Group’s CEO Walter van de Vijver sent a letter to Barrett’s board of directors Wednesday calling the $55 a share offer a “full and fair value” for the gas-rich independent. Barrett has rejected Shell’s offer and is now considering strategic alternatives (see NGI, March 12). There had been no response by Barrett at the end of last week.

Defending its hostile takeover attempt for Denver-based BarrettResources Corp., Royal Dutch/Shell Group’s CEO Walter van de Vijversent a letter to Barrett’s board of directors Wednesday calling the$55 a share offer a “full and fair value” for the gas-richindependent. Barrett has rejected Shell’s offer and is nowconsidering strategic alternatives (see Daily GPI, March 12).

While Philadelphia Gas Works (PGW) is in the midst of defending a 30% rate hike request, the Philadelphia District Attorney has filed criminal charges against four former PGW executives for theft and misuse of company funds. The action was sparked by a Philadelphia County Grand Jury investigation.