Finalized

Spectra Energy subsidiary Texas Eastern Transmission LP has finalized the design of its TIME III pipeline expansion project and is holding a second open season for transportation service, the company said Monday.

FERC last Thursday finalized a series of reforms to its market-based rate program that seek to shield consumers from the exercise of market power by electric power sellers.

Energen Resources Corp. last Wednesday said that it finalized its $30 million purchase of proved and probable natural gas reserves in the San Juan Basin from Dominion Resources Inc.

Energen Resources Corp. has finalized its $30 million purchase of proved and probable natural gas reserves in the San Juan Basin from Dominion Resources Inc., the company said Wednesday.

FERC stirred up a hornets nest when it finalized a rule in October allowing utilities in five organized power markets to file for relief from the mandatory purchase obligation under the Public Utility Regulatory Policies Act of 1978 (PURPA). Twenty-seven industrial associations, consumer groups and environmental organizations, released a joint statement last week blasting the new rule for its potential impact on power supply and the environment.

FERC last Thursday finalized a rulemaking modifying the mandatory power purchase obligation for electric utilities under the Public Utility Regulatory Policies Act of 1978 (PURPA). The rulemaking implements a mandate of the Energy Policy Act of 2005.

Apache Corp. has finalized a deal to acquire BP’s remaining producing properties on the Outer Continental Shelf (OCS) of the Gulf of Mexico for $1.3 billion in cash.

Discovery Gas Transmission, LLC, recently finalized an interconnect agreement to flow approximately 300,000 Dt/d from Discovery’s Larose, LA processing plant into Gulf South Pipeline. Construction of the interconnect should be completed and gas flowing in May 2006.

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.