R. Skip Horvath, president and CEO of the Natural Gas Supply Association (NGSA) plans to retire from the organization in the first half of 2014. “I’ve enjoyed 15 wonderful, rewarding years at NGSA,” Horvath said. “My original goals were to focus the association’s mission and put it back on solid financial footing. I’m proud to have accomplished those goals, but my proudest achievement at NGSA will always be the exceptional staff that I handpicked,” he said. Horvath has been president and CEO of NGSA since 1999. NGSA Chairman Greg Vesey said, “We’re tremendously grateful to Skip for his vision and leadership throughout a time of historic changes in the natural gas industry.” Horvath’s work in the natural gas industry has spanned the terms of 13 of the 15 chairmen that the Federal Energy Regulatory Commission has had in its history. Prior to joining NGSA, he served as COO and executive vice president at the Interstate Natural Gas Association of America. He also helped establish and lead the Natural Gas Council, a forum for leaders in the natural gas industry to discuss common concerns. He also founded the Distributed Power Coalition of America and served as one of four individuals tasked with setting up the Gas Industry Standards Board (now known as NAESB, the North American Energy Standards Board) and the Center for Liquefied Natural Gas.
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Northeast Posts Largest Weekly Gains On Broad Winter Storm
The NGI Weekly Spot Gas average for the week ended Dec. 13 bounded higher by $1.03 to average $5.14 led in large part by the Northeast regional gain of $3.18 to average $7.02 as a broad Arctic chill brought the region’s first real dose of winter.
Industry Briefs
Unitholders and shareholders of LINN Energy LLC, LinnCo LLC and Berry Petroleum Co. have approved the companies’ merger and related transactions, setting the deal on course for closure as it passed its final hurdle at the U.S. Securities and Exchange Commission last month (see Daily GPI, Feb. 22). The deal is said to be the first-ever acquisition of a C-corporation by an upstream limited liability company or master limited partnership. Linn Energy last month raised its offer for Berry by $600 million, reinvigorating the mega-deal (see Daily GPI, Nov. 4).
Interior Pick Comes Under Fire for Views on Natural Gas
Senators Thursday blasted the Obama administration’s nomination for a high-ranking position in the Interior Department’s Fish and Wildlife and Parks, citing her record opposing natural gas development and support for the funding of activist groups.
Industry Briefs
American Midstream Partners LP is acquiring Blackwater Midstream Holdings LLC, a developer and operator of terminal storage facilities, from an affiliate of ArcLight Capital Partners LLC for $60 million. “The strategic acquisition of Blackwater Midstream provides an attractive platform for American Midstream in a growing segment of the midstream industry that is fee-based and not directly correlated to commodity prices,” said American Midstream CEO Steve Bergstrom. The acquisition includes Blackwater’s three operating terminal sites in Westwego, LA; Brunswick, GA; and Salisbury, MD. The sites are multimodal, with access to deepwater dock, barge, rail and truck transportation. The deal also includes a brownfield development opportunity in Harvey, LA, near Blackwater’s Westwego terminal. The three operating terminals have 1.3 million bbl of storage capacity and store chemical, agricultural and petroleum liquid products. The deal is the first drop-down from American Midstream sponsor ArcLight since ArcLight acquired a controlling interest in American Midstream’s general partner in April.
Industry Brief
Tucson, AZ-based UNS Energy Corp.’s board of directors unanimously approved the electric-natural gas utility holding company’s acquisition by Canada-based Fortis Inc. Owner of Canada’s largest gas and electric distribution utility, St. John’s, Newfoundland/Labrador-based Fortis is offering to pay about $2.5 billion, or $60.25/share, in cash to acquire UNS, which owns Tucson Electric Power and separate UNS Electric and UNS Gas utility operations, all in Arizona. This is Fortis’ second U.S. utility acquisition this year, having closed the nearly $1 billion purchase of CH Energy Group Inc. last June. Overall, the UNS purchase is considered to be a $4.3 billion transaction since Fortis has agreed to assume the $1.8 billion in outstanding UNS debt. The transaction is subject to various U.S. federal and state approvals, including the Arizona Corporation Commission (ACC), which in 2004 rejected an acquisition of UNS (the UniSource Energy Corp.) by a private investment group led by KKR & Co. That deal was found not to be in the public interest by the five-member ACC.
SWN Finishes Seismic Work in New Brunswick
A division of Southwestern Energy Co. (SWN) said it has completed seismic testing in New Brunswick, closing the latest chapter in the company’s troubled history in the province.
BHP: 200,000 b/d Production from U.S. Shales in 2017
BHP Billiton’s U.S. shale business will grow liquids production to 200,000 b/d in fiscal 2017, based on planned annual investment of $4 billion, while the company’s total onshore U.S. production reaches 500,000 boe/d over the same period, Tim Cutt, president of the BHP’s petroleum and potash business said in Houston Tuesday.
Utilities Delivering Cheap Utica/Marcellus Gas Locally
Although brutally cold weather across much of the country is driving up natural gas delivery costs for utility companies, particularly those in the Northeast, increased production in the Marcellus and Utica shale formations has continued to push down the price customers are paying for the commodity this year as more utilities utilize local gas produced in the Appalachian Basin.
NatGas, Renewables Have Texas Power Covered, Study Finds
Natural gas-fired generation and renewables (wind and solar) have the future power generation needs of Texas covered; no new coal plants are necessary, according to a report by The Brattle Group that was commissioned by the Texas Clean Energy Coalition.
