Draws

Independent oil and natural gas producers are up in arms over aremark by Energy Secretary Bill Richardson that current oil pricesare at “dangerously high levels.” Richardson cited his concern lastweek and said the Clinton administration stood ready to take actionif prices continued to rise, although he declined to specify whattype of action.

In the wake of a well blowout and fire that burned for months inthe oil/gas saturated area between Bakersfield and the Elk Hillspetroleum reserve, a flood of small and medium-size Canadianbackers have moved into this old production region 100 miles northof Los Angeles, betting that new significant pools of natural gascan be found with deep-drilling below 15,000 feet.

In the wake of a well blowout and fire that burned for months inthe oil/gas saturated area between Bakersfield and the Elk Hillspetroleum reserve, a flood of small and medium-size Canadianbackers have moved into this old production region 100 miles northof Los Angeles, betting that new significant pools of natural gascan be found with deep-drilling below 15,000 feet.

Against the backdrop of NiSource Inc.’s hostile takeover bid forColumbia Energy Group, a number of U.S. and foreign electriccompanies are emerging as potential third-party suitors for thediversified energy concern.

Scana Energy Marketing and Exxon Corp. are urging FERC to delayor deny an extension of the experimental waivers and limitedjurisdiction blanket certificate that it approved for Atlanta GasLight (AGL) a year ago to promote retail gas unbundling in Georgia.

As the date of random assignment draws near in Georgia’sderegulated gas market, Georgia Natural Gas Services (GNGS) iscatching up to Scana Corp. in terms of statewide market share. Dueto its success in the race for Georgia gas customers, GNGSannounced last Monday it will open a new call center in Cobb Countyto help answer newly-acquired customers’ questions. The Atlanta GasLight (AGL) affiliate has won over one-third of the 839,000 totalswitches, second only to Scana Corp.’s 38% market share.

A proposal by Reliant Energy Gas Transmission (NorAm) for a newhourly firm transportation service and rate schedule to meetpeaking needs of the power industry drew few objections in atechnical conference at FERC Thursday.

The Carolinas are calling out for gas and so far three partieshave answered.

While the Carolinas are known for warm breezes and friendly folks, a pipeline proposed for the two states is getting a very cold shoulder from competitors.