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Williams CEO Steve Malcolm remains concerned about the “noise” from the ongoing energy merchant industry investigations by FERC, the Department of Justice and the Securities and Exchange Commission, and the “uncertainty as to where those might lead.” Malcolm made the comments during a conference call last week to discuss the company’s third quarter earnings.

Williams CEO Steve Malcolm said Thursday he remains concerned about the “noise” from the ongoing energy merchant industry investigations by FERC, the Department of Justice and the Securities and Exchange Commission, and the “uncertainty as to where those might lead.” Malcolm made the comments during a conference call to discuss the company’s third quarter earnings.

A subsidized natural gas pipeline from Alaska would be practically a cost/benefit wash for U.S. consumer/taxpayers, but would cost lower 48 producers $60 billion, according to analysis of pending energy legislation by the Energy Department. Meanwhile, industrial consumers last week charged that the bill completely misses the point of how to serve the nation’s need for natural gas.

The winter of 2002/03 doesn’t seem to realize its time is up. Snow and ice storms scattered from the central Plains through the Midwest and Northeast resulted in gains ranging from about a nickel to 45 cents in non-Rockies/San Juan Basin markets Monday, although a couple of scattered points barely eked out any increase at all.

The math still doesn’t add up at Hanover Compressor. The industry’s largest supplier of natural gas compression equipment revealed on Wednesday that for the third time this year it must restate prior financial results. After a review of prior business transactions, the company found that it incorrectly accounted for four transactions totaling revenues of $5.1 million and net income of $2 million.

The math still doesn’t add up at Hanover Compressor. The industry’s largest supplier of natural gas compression equipment revealed on Wednesday that for the third time this year it must restate prior financial results. After a review of prior business transactions, the company found that it incorrectly accounted for four transactions totaling revenues of $5.1 million and net income of $2 million.

Pure Resources Inc. on Thursday said the special committee of its board of directors is reviewing the revised exchange offer from Unocal Corp., but made no comment on whether the second offer from its 65% shareholder was enough. Unocal has been attempting to obtain the other 35% of Pure Resources for several weeks (see Daily GPI, Oct. 3).

Canada’s natural gas export capacity is “not likely” to be an issue in U.S. storage levels despite record levels of drilling, and it will have only a “minimal effect” on overall supply and demand, according to Monday’s Stat of the Week by an analyst with Raymond James. According to the analyst, Canada has contributed less than 1 Bcf/d in the first half of 2001 to U.S. supplies, and even with the “significant” Ladyfern discovery in British Columbia, the figure is only expect to rise another 0.5 Bcf/d in the second half of the year.

FERC Commissioner Pat Wood III said last week that while he doesn’t advocate asking Congress to restore the agency’s authority to regulate gathering, he is concerned about problems that offshore producers may be facing in a de-regulated market.