After being cited for contempt last month for not handing over confidential documents detailing its western power trading operations, Enron Corp. returned fire at California lawmakers last week, accusing them of making it a “convenient political scapegoat to shoulder the blame for California’s policy mistakes and changes in market fundamentals.” The Houston-based marketing and trading giant filed a lawsuit in the Superior Court of the State of California in Sacramento against the Senate Select Committee to Investigate Price Manipulation of the Wholesale Energy Market.
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Hebert Talks to Bush Team about FERC Transition
With the Supreme Court last week effectively handing the keys tothe White House to now President-elect George W. Bush, speculationhas escalated in Washington D.C. over who will be tapped as thenext FERC chairman under a Republican administration.
Hebert Talks to Bush Team
With the Supreme Court decision in effect handing the presidencyto Texas Gov. George W. Bush, speculation has escalated inWashington D.C. over who will be named the next FERC chairman undera Republican administration.
65 Bcf Fill Prompts Another Wild Ride, Small Daily Gain
They may have to start handing out seat belts at Nymex justprior to the release of American Gas Association’s weekly gasstorage report each Wednesday. In a span of only a few minutesfollowing the 2 p.m. report of a 65 Bcf injection last week intostorage, September futures spiked to $4.565, its highest levelsince June 28, but then immediately plummeted back into the low$4.40s.
CMS Hands Title of Top Michigan Producer to Quicksilver
CMS Energy is handing over its title of largest independent oiland gas producer in Michigan to Quicksilver Resources, the companysaid last week. The sale includes all of CMS Energy’s gas and crudeoil exploration and production properties in Michigan, includingthe stock of Terra Energy Ltd., as well as other smaller interestsin Ohio, Kentucky, and Indiana.
CMS Hands Title of Top Michigan Producer to Quicksilver
CMS Energy is handing over its title of largest independent oiland gas producer in Michigan to Quicksilver Resources, the companysaid yesterday. The sale includes all of CMS Energy’s gas and crudeoil exploration and production properties in Michigan, includingthe stock of Terra Energy Ltd., as well as other smaller interestsin Ohio, Kentucky, and Indiana. It covers more than 180,000 netleasehold acres producing 54 MMcfe/d from the Antrim Shale, as wellas from the Niagaran and Prairie du Chien formations. Estimatedreserves and the purchase price were not disclosed. The transactionis expected to close by the end of the first quarter.
Florida PSC Delays Decision on Unbundling
Before handing down a final decision, the Florida Public ServiceCommission decided last week it needed one last look at the detailsof a commission staff proposal that would require the state’s gasutilities to file small customer unbundling tariffs by next March.PSC commissioners requested staff schedule at least one moreworkshop during which it would present the details of the proposedunbundling rule to the commissioners.