Deferred

A federal court in Washington, DC, Thursday deferred to the Interior Department’s interpretation of which costs can be deducted when producers calculate royalties owed for the production of natural gas on federal lands.

The amount of Gulf of Mexico gas production shut in due to damage from Hurricane Ivan dropped sharply this week to about 743 MMcf/d on Thursday from 1.2 Bcf/d last Friday. However, Southern Natural Gas has reported that pipeline replacement work at Main Pass 298 will leave about 240 MMcf/d shut in for six to 12 months.

The amount of Gulf of Mexico gas production shut in due to damage from Hurricane Ivan dropped sharply this week to about 743 MMcf/d on Thursday from 1.2 Bcf/d last Friday. However, Southern Natural Gas has reported that pipeline replacement work at Main Pass 298 will leave about 240 MMcf/d shut in for six to 12 months.

The Federal Energy Regulatory Commission has deferred for an additional five days — until its next regular meeting on May 5 — the publication of a staff report on whether price indices used in pipeline tariffs are in compliance with the agency’s new mandated standards for price reporting and reflect sufficient liquidity at referenced pipeline locations.

The Federal Energy Regulatory Commission has deferred for an additional five days — until its next regular meeting on May 5 — the publication of a staff report on whether price indices used in pipeline tariffs are in compliance with the agency’s new mandated standards for price reporting and reflect sufficient liquidity at referenced pipeline locations.

Nearly $53 million in deferred compensation paid to 162 of Enron Corp.’s former best and brightest could be divided among the bankrupt trader’s creditors under a ruling Monday by the U.S. Bankruptcy Court judge handling the case in New York.

Chesapeake Energy said Friday is has deferred the commencement of a $12 per share cash tender offer for all of the outstanding shares of Oklahoma City-based Canaan Energy Corp., pending negotiations with Canaan management. Chesapeake had announced its plan to buy the company last Monday for a total of about $55 million plus the assumption of $42 million in Canaan debt. It said its plans for the company would produce far better results than those of Canaan’s current management.

Chesapeake Energy said Friday it has deferred the commencement of a $12 per share cash tender offer for all of the outstanding shares of Oklahoma City-based Canaan Energy Corp., pending negotiations with Canaan management. Chesapeake had announced its plan to buy the company last Monday for a total of about $55 million, plus the assumption of $42 million in Canaan debt. It said its plans for the company would produce far better results than those of Canaan’s current management.

While some natural gas-fired power generation projects still in the planning stage are being deferred, those under construction are going ahead, and the battle is moving into the marketing of new online power supplies, according to Arlington, VA-based Energy Ventures Analysis (EVA).