Determined

Semco Energy announced the resignation of its chairman, president and CEO, Marcus Jackson, Wednesday, after its board determined that new leadership is needed because the company has not reached certain financial goals. Semco shares rose 2.4% to $5.03 on the news.

Semco Energy announced the resignation of its chairman, president and CEO, Marcus Jackson, Wednesday, after its board determined that new leadership is needed because the company has not reached certain financial goals. Semco shares rose 2.4% to $5.03 on the news.

FERC put an end to one of the most tortuous cases in its history last Thursday, approving with one modification a $1.7 billion settlement of California’s allegations that an El Paso Corp. pipeline drove up natural gas prices in the state by withholding capacity during the state’s energy crisis, and that it gave preferential treatment to its power merchant affiliate during bidding on transportation capacity.

In a new report, the Energy Information Administration determined that worldwide oil and natural gas reserve additions by 30 major oil and gas producers in 2001, excluding mergers and acquisitions, rose to 7.9 billion boe, the highest level reported over the 1974-2001 period. Furthermore, reserves additions replaced 137% of worldwide oil and natural gas production in 2001.

In a new report, the Energy Information Administration determined that worldwide oil and natural gas reserve additions by 30 major oil and gas producers in 2001, excluding mergers and acquisitions, rose to 7.9 billion boe, the highest level reported over the 1974-2001 period. Furthermore, reserves additions replaced 137% of worldwide oil and natural gas production in 2001.

Northwest said it has determined that pipeline anomaly digs in the Vernal district will be completed Friday (July 26). As a result, it will end the Notice of Deficiency Period effective with Saturday’s gas day and will reset the Moab (UT) Compressor Station to its southbound design capacity of 358,000 Dth /d. Northwest previously had expected the Vernal work and related flow restrictions to last through Aug. 8 (see Daily GPI, June 25).

Northwest said it has determined that pipeline anomaly digs in the Vernal district will be completed Friday (July 26). As a result, it will end the Notice of Deficiency Period effective with Saturday’s gas day and will reset the Moab (UT) Compressor Station to its southbound design capacity of 358,000 Dth /d. Northwest previously had expected the Vernal work and related flow restrictions to last through Aug. 8 (see Daily GPI, June 25).

It is still to be determined whether FirstEnergy Nuclear Operating Co. will repair or replace the damaged nuclear reactor head at its Davis-Besse nuclear plant in Ohio, and the Nuclear Regulatory Commission (NRC) has established a special oversight panel to monitor corrective actions and evaluate the readiness of the plant to return to service.

An attempt to secure access to natural gas from offshore of Nova Scotia for central Canada has run into determined resistance by exporters out to keep the supplies dedicated to the northeastern United States.