Hedge

Amaranth Advisors LLC has requested an additional month to respond to a FERC show-cause order that accuses the failed hedge fund of manipulating the price of physical natural gas transactions, while former Amaranth trader Brian Hunter continues to challenge the regulatory agency’s jurisdiction in the case.

FERC’s well publicized enforcement actions against failed hedge fund Amaranth Advisors LLC and transporter Energy Transfer Partners in late July should put the rest of the energy industry on notice that the agency is ready and able to take action against bad actors in the industry, said Chairman Joseph Kelliher last Tuesday.

FERC’s well publicized enforcement actions against failed hedge fund Amaranth Advisors LLC and transporter Energy Transfer Partners last week should put regulated energy companies on notice that the agency is ready and able to take action against bad actors in the industry, said Chairman Joseph Kelliher Tuesday.

Addressing speculative rumors of large losses due to plummeting natural gas futures values, Houston-based energy hedge fund Trident Asset Management LP. said Friday that contrary to trader gossip, the fund has suffered “no major losses” and is doing fine, thank you very much.

Addressing speculative rumors of large losses due to plummeting natural gas futures values, Houston-based energy hedge fund Trident Asset Management LP. said Friday that contrary to trader gossip, the fund has suffered “no major losses” and is doing fine, thank you very much.

Defunct hedge fund Amaranth Advisors LLC, which last year lost more than $6 billion in bad bets on the natural gas market, agreed to pay $716,819 to settle charges with the Securities and Exchange Commission (SEC) that it sold securities short in offerings and covered its positions by buying securities in the offerings, the SEC said Wednesday.

New York-based hedge fund Third Point LLC, which in the past couple of years has scooped up substantial shares in several independent producers, has purchased 2.45 million shares (8.1%) of Houston-based ATP Oil & Gas Corp. Third Point did not report a stake in ATP at year-end 2006.

New York-based hedge fund Third Point LLC, which last year became the biggest shareholder in Western Gas Resources before its high-profile acquisition by Anadarko Petroleum Corp., on Tuesday announced it had purchased a 7.2% stake in independent producer Pogo Producing Co. Third Point also holds options to purchase another 200,000 shares.

The CEO of New York-based hedge fund Third Point LLC, which in November purchased a substantial stake in Pogo Producing Co. (see Daily GPI, Nov. 27), on Friday demanded that the Pogo board initiate a process to sell the company “in whole or part.” In a letter, Third Point CEO Daniel S. Loeb called the track record of Pogo’s CEO “long and meager” and said it was time for a change.