As part of a broader set of management succession plan changes,Sempra Energyannounced selection of new CEOs to run its two California utility andU.S. Gas & Powerunits. Under the changes, current CEO of the gas/power subsidiary,Jeffrey Martin, 51, will become CEO ofSan Diego Gas and Electric Co.; current COODennis Arriola, 52, becomes CEO atSouthern California Gas Co.; andPatricia Wagner, 51, Sempra’s current vice president for parent company audit services, becomes CEO of U.S. Gas & Power.
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The minority 20% share in the San Onofre Nuclear Generating Station (Songs) lessens the overall costs and operational impact, but Sempra Energy and its San Diego Gas and Electric Co. (SDG&E) combination utility will deal with material consequences of the decision, according to officials.
San Diego-based Sempra Energy’s Mexico business unit plans to hold an initial public offering (IPO) of up to 20% of stock as part of a long-range plan to increase natural gas investments on both sides of the U.S.-Mexico border. At the same time, the company senior management is talking bullishly about U.S. liquefied natural gas (LNG) exports.
San Diego-based Sempra Energy’s Mexico business unit plans to hold an initial public offering (IPO) of up to 20% of stock as part of a long-range plan to increase natural gas investments on both sides of the U.S.-Mexico border.
Low wholesale natural gas prices haven’t translated into expansions at Sempra Energy’s local distribution companies (LDC) Southern California Gas Co. (SoCalGas) and San Diego Gas and Electric (SDG&E), a Sempra spokesman told NGI last week.
Cameron Interstate Pipeline LLC, a subsidiary of San Diego-based Sempra Energy, has filed an application to loop a 21-mile segment of its pipeline system in Hackberry, LA with a 42-inch pipe, to accommodate natural gas exports.
Citing jobs creation and other positive domestic economic multipliers, San Diego-based Sempra Energy on Monday filed with FERC for approval to construct liquefaction and export facilities at its existing Cameron liquefied natural gas (LNG) terminal in Hackberry, LA.
San Diego-based Sempra Energy CEO Debra Reed, 56, has been elected chairman of the energy holding company to replace Donald Felsinger, 65, who retires at the end November after 40 years. Reed was named CEO last year and has worked for Sempra companies for the past 34 years (see Daily GPI, June 29, 2011). She previously worked for Sempra’s Southern California Gas Co. utility.
San Diego, CA-based Osage Exploration and Development Inc. reported Monday that it has spudded its fourth horizontal oil well in the Mississippian Lime formation and the rock quality appears promising. The well — the McPhail #2-18H in section 18-18N-3W of Logan County, OK –. is in the 30,000-plus acre Nemaha Ridge project, which is owned by Osage in conjunction with its partners, project operator Slawson Exploration Co. and U.S. Energy Development Corp.
Despite taking a significant hit in its 2Q2012 profits related to its 25% interest in the Rockies Express Pipeline (REX), which is now on the sales block, San Diego-based Sempra Energy executives view the natural gas pipeline as a “significant” asset long term because of its potential role in moving gas bidirectionally from the developing parts of the Utica and Marcellus shales.