Established

California’s attorney general announced Friday the state has made final an amended version of its previously announced $417 million settlement with Tulsa-based Williams Companies regarding a renegotiated 10-year power contract that is reduced by $1.4 billion in terms of the state’s obligations.

Plains Resources Inc. announced Monday that its board of directors has formally approved the previously announced tax-free spin-off of its oil and gas exploration and production business, Plains Exploration & Production Co. (PXP), and established Dec. 11 as the date on record for the spin-off.

The new merchant gas and power companies, getting battered in the public arena as they move into new operating areas across the country, are going to have to heavy-up their public relations operations to ward off reactive laws and regulations restricting the competitive market.

The new merchant gas and power companies, getting battered in the public arena as they move into new operating areas across the country, are going to have to heavy-up their public relations operations to ward off reactive laws and regulations restricting the competitive market.

The Rocky Mountains over the past 20 years have been established as one of the largest natural gas reserve regions in the Lower 48, but there is no lack of challenges for exploration and production companies to access and develop the resource, according to Richard H. Lewis, CEO of Prima Energy Corp.

The Rocky Mountains over the past 20 years have been established as one of the largest natural gas reserve regions in the Lower 48, but there is no lack of challenges for exploration and production companies to access and develop the resource, according to Richard H. Lewis, CEO of Prima Energy Corp.

A couple of sources thought Monday’s trading might have established a flexible template for much of October: softening at nearly all points that was fairly moderate at about a dime down, or less in most cases, and accomplished amid quiet activity. Fundamentals were still weak; although virtually all areas basked under sunny skies, temperatures are still mild to chilly everywhere except in the desert Southwest and the Florida peninsula.

Canada’s National Energy Board has established a mediation process for the resolution of landowner objections during detailed route hearings for oil and natural gas pipelines and power lines. The board sent out for comment in January 2001 a draft of its proposed Mediation Practice Direction to various landowners, landowner representatives and industry stakeholders across the country. It also sought comments and suggestions for using alternative dispute resolution tools for other types of applications. The board has now reviewed and analyzed comments received and, in light of the overall support indicated by many of the respondents, has decided to implement a voluntary mediation process at the detailed route stage of its proceedings. This will provide an alternative method for landowners and companies to resolve disputes over the detailed routes of pipelines and power lines. The board has revised the draft Mediation Practice Direction and incorporated many of the suggestions made by the participants, and will make the process available, if it is requested. For a copy of the draft Mediation Practice Direction, visit the NEB’s web site at http://www.neb.gc.ca/pubs/pdmdro.pdf .

Trading inside the range established on Wednesday and Thursday, natural gas futures checked mostly sideways Friday as light short covering ahead of the weekend was met with an almost equal amount of overhead selling. The July contract finished at $3.93, up 1.6 cents on the day, but down 10.3 cents for the week.