FERC on Thursday finalized procedures to allow for enhanced due process for companies that disagree with the findings of staff operational audits. The new procedures will allow the subject of an operational audit to challenge an audit finding or proposed remedy before the Commission issues an order on the disputed matter in the audit.
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Feds Extend Due Process Rights to Operational Audit Challenges
FERC on Thursday finalized procedures to allow for enhanced due process for companies that disagree with the findings of staff operational audits. The new procedures will allow the subject of an operational audit to challenge an audit finding or proposed remedy before the Commission issues an order on the disputed matter in the audit.
Pioneer Sells Interest in Hugoton, Spraberry Fields
To repurchase more shares, accelerate its debt reduction program and to give it “enhanced firepower” for future exploration, Pioneer Natural Resources Co. on Thursday announced that it has sold the revenue associated with 2% of its reserves (20.5 MMboe) for about 8% of their enterprise value under two volumetric production payments (VPPs) totalling $593 million.
Domenici Solicits Cures for Gas Crisis; Dingell Seeks FERC, CFTC Review of Hedge Funds
Senate Energy and Natural Resources Chairman Pete Domenici (R-NM) is proposing to put solutions “to the looming crisis in natural gas supply and demand” on the front burner of the new Congress, calling for legislative proposals to be filed with the committee by Jan. 7. The senator’s announcement followed on a number of complaints last week over the rising price and volatility of natural gas.
Domenici Solicits Cures for Gas Crisis; Dingell Seeks FERC, CFTC Review of Hedge Funds
Senate Energy and Natural Resources Chairman Pete Domenici (R-NM) is proposing to put solutions “to the looming crisis in natural gas supply and demand” on the front burner of the new Congress, calling for legislative proposals to be filed with the committee by Jan. 7. The senator’s announcement followed on a number of complaints last week over the rising price and volatility of natural gas.
Falcon Begins Enhanced Storage Service at Hill-Lake Project
Falcon Gas Storage Co. said it has started natural gas deliveries from its Hill-Lake Gas Storage field in Eastland County, TX. Deliveries are being made through the new Cisco Pipeline, which links Hill-Lake with the North Texas Pipeline (owned jointly by TXU Fuels and El Paso Energy Partners) and Lone Star Pipeline’s Line “X.”
Conoco Enhances Natural Gas Portfolio
Conoco Inc. enhanced its natural gas portfolio last week,announcing an agreement to acquire LG&E Energy Corp.’s naturalgas gathering and processing business assets in New Mexico, Texas,Oklahoma and Montana. The deal will make Conoco the second largestnatural gas gatherer in the region, more than doubling its capacityin southeast New Mexico and improving its processing capacity inthe region by 42%.
Conoco Enhances Natural Gas Portfolio
Conoco Inc. enhanced its natural gas portfolio yesterday,announcing an agreement to acquire LG&E Energy Corp.’s naturalgas gathering and processing business assets in New Mexico, Texas,Oklahoma and Montana. The deal will make Conoco the second largestnatural gas gatherer in the region, more than doubling its capacityin southeast New Mexico and improving its processing capacity inthe region by 42%.
Transportation Notes
In response to customer requests, Transco has enhanced the LEADreports available in TRANSIT to show best available allocated databased upon a one-day lag for all shippers rather than a two-day lagas has been shown in the past.
Arthur Andersen Touts Information Resource
Arthur Andersen launched the KnowledgeSpace Energy Community, arevised and enhanced premium community developed for the energyindustry. By supplementing oil and gas content with information andresources specifically for the utility industry, the EnergyCommunity replaces the Oil & Gas Community in KnowledgeSpace,Arthur Andersen’s gateway to online business information, tools andresources.