Group

CFTC Proposes More Protections for Futures, Swaps Customers

In response to collapses at Peregrine Financial Group Inc. (see Daily GPI, July 11) and MF Global Holdings Ltd. (see Daily GPI, Nov. 14, 2011), both of which involved the misappropriation of customer funds, the Commodity Futures Trading Commission (CFTC) Monday voted out a proposed set of rules to provide a greater level of protection to customers that participate in the futures and swaps markets, including the protection of customer funds held by futures commission merchants (FCM) and derivatives clearing organizations.

October 24, 2012

Stray Gas Response Subject of Latest MSC Guidance

The Marcellus Shale Coalition (MSC) on Tuesday published recommended practices to respond to stray gas incidents, the fourth in a series of guidance documents published by the industry group.

October 17, 2012

Pennsylvania DEP Approves First Marcellus Shale Gas Power Plant

The Pennsylvania Department of Environmental Protection (DEP) on Wednesday approved an air quality plan for construction of a gas-fired power plant, the first to be powered, at least in part, by natural gas harvested from the Marcellus Shale.

October 15, 2012

Arkansas Landowners Sue Companies Over Injection Wells

A group of landowners in three Arkansas counties are asking a federal court to allow a class action lawsuit against three oil and natural gas companies, claiming they are illegally operating six wastewater injection wells in the Fayetteville Shale.

October 9, 2012

Plains Exploration Sells Controversial Wyoming Gas Leases

A land conservation group reached an agreement Friday with Plains Exploration & Production Co. (PXP) to purchase the company’s oil and natural gas leases on 58,000 acres in the Hoback Basin of the Wyoming Range.

October 9, 2012
E&P ‘Apathy’ Seen Eroding Onshore Activity Levels

E&P ‘Apathy’ Seen Eroding Onshore Activity Levels

The North America oilfield services market “eroded more than we thought” in 3Q2012, but the spending decline could turn in January, said the research team at Tudor, Pickering, Holt & Co. (TPH).

October 8, 2012

Senate Republicans Oppose Executive Order on Cybersecurity

A group of six Senate Republicans has called on President Obama to not issue an executive order on cybersecurity involving U.S. government and national critical infrastructure, such as natural gas and electric transmission facilities, arguing that the legislative process is a better way to enhance cybersecurity (see Daily GPI, Sept. 13).

October 8, 2012

People

The board of directors of the Interstate Natural Gas Association of America (INGAA) elected as chairman C. Gregory Harper, who is senior vice president and group president of CenterPoint Energy’s Pipelines and Field Services businesses. Harper follows Spectra Energy CEO Gregory L. Ebel as INGAA chairman. The board also elected Gary L. Sypolt, CEO of Dominion Resources’ Dominion Energy operating segment, as first vice chairman, and David Devine, president of Kinder Morgan’s Natural Gas Pipe Line Co., as second vice chair. INGAA officers are elected for one-year terms.

October 4, 2012

Cybersecurity, Gas-Electricity Coordination Are INGAA Priorities

Outgoing Interstate Natural Gas Association of America (INGAA) Chairman Greg Ebel and the pipeline group’s members “worked tirelessly” to ensure that legislation signed into law by President Obama earlier this year would “truly take pipeline safety and integrity management to a higher level,” according to incoming Chairman Greg Harper.

October 3, 2012

CME Assures Customers Ahead of Swap Dealer Rule Enactment

Looking to allay concerns from customers that some of its new product offerings will force a change in how they trade, CME Group issued an open letter last week that more fully explains how the exchange will operate once Dodd-Frank Wall Street Reform Act regulations on swap dealer registrations going into effect Oct. 12. The exchange also explained in more depth the previously announced rollout of a broad suite of new natural gas and power contracts that will be listed as futures on CME Globex, the New York Mercantile Exchange (Nymex) trading floor and CME ClearPort, and will be available for trading on CME Direct, a platform offering side-by-side trading and straight-through processing and clearing of exchange-listed and over the counter (OTC) energy markets.

October 1, 2012
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