Evaluate

The California Public Utilities Commission (CPUC) announced Nov. 19 it will evaluate charges of alleged unlawful conduct that have been lodged against Pacific Gas and Electric Co. (PG&E) by CPUC investigators regarding the Dec. 24, 2008 natural gas pipeline explosion in Rancho Cordova, CA, east of Sacramento. It could lead to fines of up to $20,000 per day per violation against the San Francisco-based combination utility.

The California Public Utilities Commission (CPUC) announced Friday it will evaluate charges of alleged unlawful conduct that have been lodged against Pacific Gas and Electric Co. (PG&E) by CPUC investigators regarding the Dec. 24, 2008 natural gas pipeline explosion in Rancho Cordova, CA, east of Sacramento. It could lead to fines of up to $20,000 per day per violation against the San Francisco-based combination utility.

Denver-based Delta Petroleum Corp. has retained Morgan Stanley and Evercore Partners to evaluate and advise the board of directors on “strategic alternatives” that may include selling “some or all” of the company’s assets, entering into partnerships or joint venture opportunities, or selling the entire company. Delta said it would not comment until the board has approved a specific transaction or when there are “significant developments.” Delta’s core areas of operations are the Gulf Coast and Rocky Mountain regions, which comprise the majority of its proved reserves, production and long-term growth prospects (see Daily GPI, April 8; Dec. 24, 2008; Aug. 28, 2008).

ExxonMobil Corp. will ramp up more natural gas output from Colorado’s Piceance Basin “across the balance of the year,” and will continue to evaluate leaseholds in British Columbia’s Horn River Basin and in the Marcellus Shale, among others, the company’s vice president of investor relations said Thursday.

ExxonMobil Corp. will ramp up more natural gas output from Colorado’s Piceance Basin “across the balance of the year,” and will continue to evaluate leaseholds in British Columbia’s Horn River Basin and in the Marcellus Shale, among others, the company’s vice president of investor relations said Thursday.

The disparity of U.S. regional wholesale power markets makes it “difficult” to evaluate the degree to which more competition has influenced consumption and investment decisions in generation and transmission, a federal task force said in its final report to Congress last Thursday. It further found that retail power competition has yielded disappointing results.

American Electric Power (AEP) last Thursday disclosed that it has asked PJM Interconnection to evaluate transmission interconnection feasibility for three potential sites being considered by AEP for a commercial-scale Integrated Gasification Combined Cycle (IGCC) clean-coal power plant, the first of its size in the country.

Shares of Houston-based independent producer Mission Resources Corp. rose more than 8% last Tuesday to $6.50 but slide back to the $5.60s by Friday after the company said that it retained Petrie Parkman & Co. to assist in evaluating strategic alternatives designed to enhance shareholder value. Mission also said the move does not guarantee that a transaction will take place.

Shares of Houston-based independent producer Mission Resources Corp. rose more than 8% Tuesday to $6.50 by mid-afternoon after the company said that it retained Petrie Parkman & Co. to assist in evaluating strategic alternatives designed to enhance shareholder value. Mission also said the move does not guarantee that a transaction will take place.