Happy

Gulf of Mexico pipeline operators have been so busy picking up the pieces from last year’s hurricane season that they’ve apparently had little time and resources for building new Gulf of Mexico infrastructure. But if current indications are correct, the 2006 hurricane season will be something of a vacation compared to last year.

Gulf of Mexico pipeline operators have been so busy picking up the pieces from last year’s hurricane season that they’ve apparently had little time and resources for building new Gulf of Mexico infrastructure. But if current indications are correct, the 2006 hurricane season will be something of a vacation compared to last year.

Questar Corp. wasn’t too happy about Standard & Poor’s (S&P) decision to downgrade the debt ratings of its regulated subsidiaries, Questar Gas Company and Questar Pipeline, to “A-” and its commercial paper to “A-2.” S&P affirmed the BBB+ long-term rating of Questar Market Resources and assigned a stable outlook for each Questar entity. “Our credit ratings remain strong, and we’ll keep them strong,” said CEO Keith O. Rattie. “No specific event triggered this action. In fact, our credit metrics today are stronger than at any time in the company’s history, so we don’t expect this action to have a material impact on our borrowing costs or access to credit markets.” S&P said that Questar’s growing exploration and production (E&P) business benefits Questar Gas and Questar Pipeline when commodity prices are high, but exposes them to greater risk when prices are low. “S&P also cited a negative shift in Utah’s regulatory environment as a factor in its decision to downgrade the credit ratings of Questar Gas. But more importantly, S&P affirmed a BBB+ rating for Market Resources, our E&P business and Questar’s primary growth driver,” Rattie added.

Unocal Corp. last week said it had discovered natural gas at its Alaskan Happy Valley prospect on the Kenai Peninsula. First production is expected by the fourth quarter of 2004, with average production of 20-25 MMcf/d in 2005.

Unocal Corp. has discovered natural gas at its Alaskan Happy Valley prospect on the Kenai Peninsula. First production is expected by the fourth quarter of 2004, with average production of 20-25 MMcf/d in 2005.

It’s not easy for marketers to make anyone happy these days. Producer customers in particular can be especially temperamental. But a new survey by Mastio & Co. shows that some marketers have been particularly good at retaining and satisfying customers even in these difficult times.

It’s not easy for marketers to make anyone happy these days. Producer customers in particular can be especially temperamental. Executives at Apache Corp. probably would rather roast a marketer over an open fire than invite him over to do business (see Daily GPI, Aug. 19, April 25). But a new survey by Mastio & Co. shows that some marketers have been particularly good at retaining and satisfying customers even in these difficult times.

Sounding more embittered and hair-trigger-happy with each passing press conference, California’s governor Tuesday continued to draw a line in the sand at $8.9 billion for power supplier refunds at the same time standing ready to negotiate with individual suppliers or small groups for portions of that amount in cash or future price discounts or power contract renegotiations.

Most energy and telecommunications companies have become involved in the convergence of the two industries within the last few years, and more consolidation is anticipated over the next few years, according to a recent survey conducted by consulting firm KPMG LLP. Respondents cited the sharing of infrastructure as the number one reason by a large margin that companies within the two industries are coming together.