Guidance

FERC to Review New Affiliate Rule in Houston on May 10

The Federal Energy Regulatory Commission will hold a conference/workshop in Houston, TX, on May 10 to provide industry guidance on implementing the new standards of conduct that regulate the relationships between jurisdictional natural gas/electric transmission providers and their affiliates.

April 21, 2004

Oneok, Texican Top Mastio’s Marketer Customer Satisfaction Rankings

Based on a survey of 850 local gas distributors, industrial companies, power companies, producers and other marketers, Oneok, ConocoPhillips, BP, Sempra and Coral Energy were the top five companies in Mastio & Co.’s customer satisfaction ranking of major gas marketers, but the smaller regional marketers played a much more prominent role last year than in previous years, the St. Joseph, MO-based research firm said.

February 9, 2004

Oneok, Texican Top Mastio’s Marketer Customer Satisfaction Rankings

Based on a survey of 850 local gas distributors, industrial companies, power companies, producers and other marketers, Oneok, ConocoPhillips, BP, Sempra and Coral Energy were the top five companies in Mastio & Co.’s customer satisfaction ranking of major gas marketers, but the smaller regional marketers played a much more prominent role last year than in previous years, the St. Joseph’s, MO-based research firm said.

February 3, 2004

Northern Border Revalues Gathering after High Powder River Decline Rates

Slower than expected development of coalbed methane (CBM) production in the Powder River Basin of Wyoming and higher than expected CBM decline rates have forced Northern Border Partners LP to record a $219 million, or $4.73 per unit, non-cash charge in the third quarter to reflect asset and goodwill impairments for its natural gas gathering and processing business segment.

October 6, 2003

Northern Border Revalues Gathering after High Powder River Decline Rates

Slower than expected development of coalbed methane (CBM) production in the Powder River Basin and higher than expected CBM decline rates have forced Northern Border Partners LP to record a $219 million, or $4.73 per unit, non-cash charge in the third quarter to reflect asset and goodwill impairments for its natural gas gathering and processing business segment.

October 3, 2003

North American Producers Say Commodity Prices Fueling 2Q Growth

Higher oil and gas prices are fueling improved quarterly earnings reports, with several of the top North American producers reporting major gains on Wednesday. ConocoPhillips beat Wall Street’s earnings estimates by 14 cents/share, and two other large U.S.-based independents, Pioneer Natural Resources Co. and Kerr-McGee Corp., also posted gains. Meanwhile, Calgary-based Talisman Energy Inc.’s record earnings are expected to help grow its gas-heavy production 10% this year.

July 31, 2003

Dynegy Secures Financing Package for $1.66B

Dynegy Inc.’s CEO said Wednesday that the company had reached a “defining point” in its rebuilding process, after securing a new $1.66 billion bank credit financing package that won’t come due until 2005. The new facility replaces existing loans held by subsidiary Dynegy Holding (DHI), which would have matured over the next two months.

April 3, 2003

Cal-PX Asks FERC for Guidance in Distributing $1 Billion of Collateral

In responding to a complaint from British Columbia-based Powerex to have its collateral returned, the defunct and bankruptcy-restricted California Power Exchange (Cal-PX) fired back last Tuesday asking FERC to set generic guidelines on the distribution of nearly $1 billion in collateral from about 30 energy merchant sector participants that is held under Cal-PX’s caretaker administration. Cal-PX has made this same request in two other individual collateral cases brought before the Powerex one.

March 24, 2003

FERC Offers Credit Protections to Both Pipes, Shippers

In its first orders providing industry guidance on pipeline creditworthiness standards, FERC last Wednesday appeared to take the middle ground by offering protections to both interstate natural gas pipelines and their shippers.

February 3, 2003

Puget Shares Slip After ’03 Earnings Guidance Slashed

Puget Energy Inc. shares fell more than $2 last week to near $20/share on Friday after the company warned in an 8-K filing with the Securities and Exchange Commission that drought conditions and low hydroelectric production in the Pacific Northwest would force it to buy high-cost replacement power, which probably would have a negative impact on 2003 earnings.

January 20, 2003