Depleted

FERC last Wednesday gave environmental clearance for Caledonia Energy Partners to convert a nearly depleted natural gas reservoir in Monroe and Lowndes counties, MS, into a high-deliverability, multi-cycle storage field with the capacity to store 11.7 Bcf of working gas.

FERC on Wednesday gave environmental clearance for Caledonia Energy Partners to convert a nearly depleted natural gas reservoir in Monroe and Lowndes counties, MS, into a high-deliverability, multi-cycle storage field with the capacity to store 11.7 Bcf of working gas.

Caledonia Energy Partners is holding an open season through June 25 for a proposed 11 Bcf gas storage project at a depleted reservoir in Monroe and Lowndes counties, MS. The proposed storage facility, which is expected to be in service in spring of 2006, is expected to have interconnections with Tennessee Gas’ 500 Leg, Texas Eastern Transmission and Southern Natural.

Caledonia Energy Partners is holding an open season through June 25 for a proposed 11 Bcf gas storage project at a depleted reservoir in Monroe and Lowndes counties, MS. The proposed storage facility, which is expected to be in service in spring of 2006, is expected to have interconnections with Tennessee Gas’ 500 Leg, Texas Eastern Transmission and Southern Natural.

Driven by high prices, depleted storage, demand growth forecasts and signs that conventional production has at best peaked and at worst begun slipping, Canadian natural gas suppliers are hunting a new generation of reserves that can be put to use fast.

Driven by high prices, depleted storage, demand growth forecasts and signs that conventional production has at best peaked and at worst begun slipping, Canadian natural gas suppliers are hunting a new generation of reserves that can be put to use fast.

With almost $800 million in debt payments due and its cash nearly depleted, Williams put together a mega-deal that will not only pay the bills, but ensure its liquidity through several cash and credit transactions totaling about $3.4 billion. New credit agreements were secured giving Williams about $2 billion, but to make those deals, Williams sold or guaranteed some of its solid income-producing assets — interests in two pipeline companies, Seminole and Mid-American, for $1.2 billion; natural gas properties in Wyoming for $350 million; gas properties in the Anadarko Basin for $37.5 million; and the Cove Point liquefied natural gas (LNG) facility for $217 million. Williams also backed a secured credit agreement, which was put together by Warren Buffett’s Berkshire Hathaway Inc., with “substantially all” of the assets of subsidiary Barrett Resources.

A second merchant underground natural gas storage field inCalifornia proposed for a depleted gas field 20 miles south ofSacramento is awaiting a draft environmental report from stateregulators in September to stay on its current timetable forstart-up next Spring.

A second merchant underground natural gas storage field inCalifornia proposed for a depleted gas field 20 miles south ofSacramento is awaiting a draft environmental report from stateregulators in September to stay on its current timetable forstart-up next Spring.