Entities

Industry Briefs

The Texas Commission on Environmental Quality said $18 million in grants is available to businesses, governmental entities, school districts and individuals that replace older medium- or heavy-duty gasoline or diesel vehicles with natural gas vehicles (NGV) or repower the older vehicles with natural gas engines. Applicants must apply for Texas Natural Gas Vehicle Grant Program grants through a participating dealer. A list of participating dealers is available at www.terpgrants.org. The predetermined grant amounts are 60-90% of the incremental cost of the NGVs and engines, and are based on the fuel capacity, usage and weight class of the grant-funded vehicles. Grant applications are accepted on a first-come, first-served basis. Projects must result in at least a 25% reduction of emissions of nitrogen oxides, and grant recipients must commit to operate the grant-funded vehicles in eligible Texas counties for at least 75% of the annual mileage for four years, or 400,000 miles, whichever occurs earlier. Applications will be accepted until May 31, 2013 or until all funds are awarded. For information call (800) 919-TERP (8377).

July 10, 2012

Chesapeake Shares Soar on Report to Sell Midstream Businesses

Chesapeake Energy Corp. is in advanced negotiations to sell all of its midstream assets, including its stake in Chesapeake Midstream Partners LP (CHKM), for more than $4 billion, a transaction that could be completed in the next few days, sources told NGI’s Shale Daily on Wednesday. The bidder is said to be private equity giant Global Infrastructure Partners (GIP), which initially helped to fund the master limited partnership (MLP) and which continues to be a joint partner.

June 7, 2012

NGL Energy, High Sierra Groups to Merge in $693M Deal

Propane player NGL Energy Partners LP announced Monday that it has signed merger agreements with two High Sierra (HSE) entities, creating a diversified company through a cash and stock deal valued at $693 million, less assumed net debt.

May 23, 2012

North Dakota Sets Production Records; Wary of Fracking Rules

In mid-October North Dakota likely exceeded last year’s record-setting oil and gas production, according to state and industry officials who were quoted in a pre-Thanksgiving report out of Bismarck, ND, by the Associated Press. Separately, other local news reports Sunday depicted state officials as worried about proposed federal rules for hydraulic fracturing (fracking), but they told NGI’s Shale Daily the reports were exaggerated.

November 30, 2011

Municipals, Industrials Fight Pipeline Tracker Mechanism

Natural gas municipal entities and industrial gas consumers have called on Congress to reject efforts to allow the interstate pipelines to collect a tracker fee — or tax — on top of the existing user fees from customers as part of pipeline safety reauthorization legislation.

August 25, 2011

North Carolina Lawmakers Pass Energy Bills

Lawmakers in the North Carolina General Assembly ratified two bills calling for a comprehensive study of hydraulic fracturing (hydrofracking). Both bills now await the signature of Democratic Gov. Bev Perdue.

June 22, 2011

CFTC Proposes ‘Firewalls’ Between Trading, Research and Clearing

The Commodity Futures Trading Commission (CFTC) Wednesday approved proposals requiring swap dealers, major swap participants and other regulated entities to establish “firewalls” between their trading desks, research arms and clearing activities, register with a registered futures association and adopt policies to prevent “unreasonable restraint of trade.” It also cleared a proposal that would provide incentives and protection for whistle blowers.

November 11, 2010

UNG on Defense at CFTC Position Limit Hearing

The first panel of the third and final Commodity Futures Trading Commission (CFTC) hearing on potential position limits on speculative entities in the energy markets turned quickly into a debate on whether noncommercial traders — i.e., funds — were responsible for the price run-ups in crude and natural gas seen in recent years.

August 10, 2009

UNG on Defense at CFTC Position Limit Hearing

The first panel of the third and final Commodity Futures Trading Commission (CFTC) hearing on potential position limits on speculative entities in the energy markets turned quickly into a debate on whether noncommercial traders — i.e., funds — were responsible for the crude and natural gas price run-ups seen in recent years.

August 6, 2009

PECO Reaches Rate Increase Settlement With Six Entities

Signifying that it has reached an agreement with six entities regarding a service rate increase it requested in March 2008, PECO filed a joint settlement petition Thursday with the Pennsylvania Public Utility Commission (PUC). The utility, which serves 1.6 million electric and 480,000 natural gas customers in southeastern Pennsylvania, said the increase is necessary to offset rising costs.

August 25, 2008
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