Goal

Taking another step toward reaching its production mix goal of 70% natural gas, Houston-based Mission Resources Corp. reported Tuesday that the #1 Barry well in DeWitt County, TX has been completed and tested at a gross rate of 10.7 MMcf/d.

In its annual performance report on Friday, FERC said it exceeded its goal to complete 85% of the natural gas pipeline certificate cases that came before it in fiscal 2003 year within the time frames specified. It certified 17 major pipeline projects, adding 1,211 miles of new lines to the nationwide pipeline grid and 4.3 Bcf/d of capacity.

As part of its strategic plan to focus its business on core competencies, NiSource Inc. has completed the sale of its telecommunications subsidiary, Columbia Transmission Communications Corp. (Transcom), to NEON Communications Inc., a provider of advanced optical network services in the U.S. Northeast and Mid-Atlantic regions.

As part of its strategic plan to focus its business on core competencies, NiSource Inc. has completed the sale of its telecommunications subsidiary, Columbia Transmission Communications Corp. (Transcom), to NEON Communications Inc., a provider of advanced optical network services in the U.S. Northeast and Mid-Atlantic regions.

Continuing on towards the goal of restoring its balance sheet to health, the Williams Companies (TWC) said last week that it is finalizing a new $800 million credit facility primarily for the purpose of issuing letters of credit. The Tulsa-based company said Friday that it had completed the agreement ahead of schedule.

Continuing on towards the goal of restoring its balance sheet to health, the Williams Companies (TWC) said Wednesday that it is finalizing a new $800 million credit facility primarily for the purpose of issuing letters of credit. The Tulsa-based company said it expects to complete the credit agreement by mid-June.

UGI CEO Lon R. Greenberg said, “We are pleased that we exceeded our earnings growth goal once again, notwithstanding the extremely warm winter weather of 2002. Our mix of businesses, prudent acquisitions and the dedication of our employees overcame much of the effects of record warm weather. We are confident that a return to normal winter weather will demonstrate the true earnings power of our assets.”

Petroleos Mexicanos (Pemex), Mexico’s state-run oil and gas monopoly, expects its non-associated natural gas to become almost half of its yearly production by 2006. Pemex has a goal to produce 7 Bcf/d by 2006, with 15% from new deposits, it said Tuesday.

The prospect for California fulfilling soon its goal of having 15-20% reserve margins in its electric generation capacity is clouded by the current financial uncertainty facing the energy industry, and may not be resolved until there is some further consolidation, according to representatives of merchant generators speaking at an industry conference in San Diego last week.