Insurance

TC Energy Corp. has become the second Canadian pipeline firm to secure permission to keep secret the names of its insurance providers. In a Wednesday (Sept. 1) filing, the Canada Energy Regulator (CER) granted the privacy shield to TC for its natural gas lines: TransCanada PipeLines Ltd., Nova Gas Transmission Ltd., Foothills Pipe Lines Ltd.,…

Oklahoma Insurance CommissionerJohn D. Doak has directed property and casualty insurers operating in the state to send out a “clarifying notice of earthquake coverage” to policyholders and agents. “We know that most people don’t read their policies,” Doak said. “Even if they do, the language can be tough to understand. I issued this bulletin so that, hopefully, Oklahoma consumers get a better idea of exactly what kind of coverage they have for earthquakes.” The move comes as the state has experienced an increasing level of seismic activity, which oil and gas regulators have blamed on drilling waste injection wells (see Shale Daily,Oct. 19). According to Doak, earthquake insurance typically has excluded earth movement resulting from human activities such as mining, explosives and oil and gas exploration. “Companies writing earthquake insurance in Oklahoma have reacted to the flurry of earthquakes in various ways,” Doak’s office said. “Some have amended their policy forms to cover damage resulting from wastewater injection. Others have simply been waiving the man-made exclusion. A third group still excludes quakes induced by wastewater injection.” Insurers were given 45 days to issue the clarifying notice.

Denton, TX, the Barnett Shale town where earlier this year residents voted to ban hydraulic fracturing (fracturing), is considering tightening its ordinances on natural gas drilling — increasing scrutiny of wells and placing new requirements on operators.

While the energy loss record in both the upstream and downstream oil and gas insurance markets during 2013 was no worse than average, the energy industry itself "might be sitting on an uninsured cyber-attack time bomb," according to a new report from Willis Group Holdings plc, a global risk advisor, insurance and reinsurance broker.

Nebraska Gov. Dave Heineman on Tuesday approved a revised route for the northern portion of TransCanada Corp.’s proposed Keystone XL oil pipeline that would run through his state. He notified both President Barack Obama and Secretary of State Hillary Clinton of his decision in a joint letter.

A ballot initiative to raise the Arkansas severance tax on natural gas production being promoted by former gas industry executive Sheffield Nelson recently drew a few more foes, according to the energy industry-backed anti-tax group Arkansans for Jobs & Affordable Energy (AJAE). The Association of Arkansas Counties (AAC), the Poultry Federation and the Northwest Arkansas Council recently signed on in opposition to the tax hike on producers. “…[O]ur association believes a natural gas severance tax increase would be harmful for Arkansas counties and for Arkansans,” said Chris Villines, executive director of the AAC.

Among those midstream players scurrying to put assets on the ground is Enterprise Products Partners LP, which posted record earnings for the second quarter. During an earnings conference call COO Jim Teague enthused about growth in the Eagle Ford and Haynesville shales, as well as plans to move liquids out of the Marcellus.

The Delaware River Basin Commission (DRBC) on Thursday proposed rules that would allow natural gas development projects — with conditions — in affected areas of the Marcellus Shale.

With a giant public-sector bond-backing firm, MBIA Insurance Corp., dodging a potential credit downgrade tied to the subprime mortgage meltdown, two California public power financing arms could breathe a little easier concerning $1.4 billion of bonds for pre-pay long-term natural gas purchases they helped finance last year. However, a third a third muni gas pre-pay deal by the City of Long Beach Bond Finance Authority was hit with a downgrade Wednesday.