The Securities and Exchange Commission (SEC) has begun to serve producers active in natural gas shale development with subpoenas, according to Baird Equity Research, which cited an “attorney advertisement” issued by the Houston law firm of Fulbright & Jaworski as its source.
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SEC Said to Be Probing Possible ‘Overbooking’ of Shale Reserves
The Securities and Exchange Commission (SEC) “recently began serving” subpoenas on producers active in natural gas shale development, according to Baird Equity Research, which cited an “attorney advertisement” issued by Houston law firm Fulbright & Jaworski as its source.
Industry Brief
As the Pacific Northwest’s dominant energy player, the federal Bonneville Power Administration (BPA) has adopted what it described as a landmark settlement on a residential exchange program that it hopes will end years of dispute over how BPA makes low-cost hydroelectric supplies available to small residential and farm customers of investor-owned utilities (IOU). Given the criticism of BPA for shunning natural gas and wind power generators in the face of abundant water supplies this spring and summer, the federal power behemoth is hoping it has a win-win, noting that the deal has the backing of six regional IOUs, three state regulatory commissions, and most public-sector utilities representing 88% of BPA’s customers and 93% of the power consumed in the region. Under the settlement, IOU customers are in line to get about $3.3 billion in payments during a 17-year period, beginning at $182.1 million in fiscal 2012 and increasing to $286.1 million by fiscal 2028.
Report: Oil, Gas Companies Fear Regulation, Rising Prices
Two issues — rising oil prices and regulatory changes — were selected as the biggest threats to the oil and gas industry, according to BDO USA LLP, which referenced U.S. Securities and Exchange Commission (SEC) 10-K filings for the 100 largest exploration and production (E&P) companies in the U.S. for a new report on industry risks.
Report: Oil, Gas Companies Fear Rising Prices, Regulation
Two issues — rising oil and gas prices and regulatory changes — were selected as the biggest threats to the oil and gas industry, according to BDO USA LLP, which referenced U.S. Securities and Exchange Commission (SEC) 10-K filings for the 100 largest exploration and production (E&P) companies in the U.S. for a new report on industry risks.
El Paso to Spin Off E&P Business
El Paso Corp. was one of the leading gainers on the New York Stock Exchange Tuesday after announcing it would spin off its exploration and production (E&P) business as a publicly traded company by the end of the year.
Enterprise Buying Remainder of Duncan Energy Partners
Enterprise Products Partners LP (EPD) has offered to buy Duncan Energy Partners LP (DEP), of which it already owns a majority, through a unit-for-unit exchange. The deal — long expected by at least one analyst — values Duncan units at $42 each, a premium of about 30% based on the pre-deal closing price.
Enterprise Offering $2.42B for Duncan Energy Partners
Enterprise Products Partners LP (EPD) has offered to buy Duncan Energy Partners LP (DEP), of which it already owns a majority, through a unit-for-unit exchange in a deal worth about $2.42 billion.
BC Government Offers Royalty Credits for Infrastructure Builds
The Province of British Columbia thinks it has a winner and is launching a new installment of its offer for royalty forgiveness in exchange for construction of roads and pipeline infrastructure. The province is putting up to C$120 million in royalty credits on the table to spark the next round of infrastructure development in BC’s petroleum and natural gas sector.
BC Government Offers Royalty Credits for Infrastructure Builds
The Province of British Columbia thinks it has a winner and is launching a new installment of its offer for royalty forgiveness in exchange for construction of roads and pipeline infrastructure. The province is putting up to C$120 million in royalty credits on the table to spark the next round of infrastructure development in BC’s petroleum and natural gas sector.