Intent

SandRidge Energy Inc. has signed a letter of intent with an undisclosed independent producer to sell some of its deep acreage rights in the natural gas-rich Cana Shale in Oklahoma for $140 million in cash. The Oklahoma City-based producer would retain the shallow drilling rights; it said has no associated proved reserves or current production from the deep rights to be sold. Proceeds from the sale, to be completed before the end of September, would be used to pay down existing debt. The transaction is not expected to affect a pending merger with Arena Resources Inc. (see NGI, April 12).

Three environmental groups on Monday sent an intent-to-sue letter to the Department of Interior (DOI) for not listing sage grouse as an endangered or threatened species. Sixty days’ notice is required ahead of filing a lawsuit under the Endangered Species Act (ESA). The Center for Biological Diversity, Desert Survivors and Western Watersheds Project said the lawsuit would be filed in a still-to-be-determined federal court because DOI classified the sage grouse only as a candidate for protection under the ESA (see Daily GPI, March 8). Around 250 species considered candidates for protection have been on the list for decades, the groups said. DOI declined to comment because of its policy regarding litigation.

Three environmental groups on Monday sent an intent-to-sue letter to the Department of Interior (DOI) for not listing sage grouse as an endangered or threatened species. Sixty days’ notice is required ahead of filing a lawsuit under the Endangered Species Act (ESA). The Center for Biological Diversity, Desert Survivors and Western Watersheds Project said the lawsuit would be filed in a still-to-be-determined federal court because DOI classified the sage grouse only as a candidate for protection under the ESA (see Daily GPI, March 8). Around 250 species considered candidates for protection have been on the list for decades, the groups said. DOI declined to comment because of its policy regarding litigation.

President Obama Monday announced his intent to tap FERC Commissioner Phillip D. Moeller for another term on the Federal Energy Regulatory Commission. Moeller, a Republican, has served on the Commission since July 2006 (see Daily GPI, July 17, 2006). He assumed the seat of former FERC Chairman Pat Wood. His current term expires on June 30. Prior to coming to FERC, Moeller was executive director of the Washington office for Wisconsin-based Alliant Energy Corp. He was an energy policy advisor to former Sen. Slade Gorton (R-WA) before his stint at Alliant, and had been a staff coordinator for the Washington State Senate Committee on Energy, Utilities and Telecommunications. He was born in Chicago and raised on a ranch near Spokane, WA. He received a bachelor’s degree in political science from Stanford University.

President Obama Monday announced his intent to tap FERC Commissioner Phillip D. Moeller for another term on the Federal Energy Regulatory Commission. Moeller, a Republican, has served on the Commission since July 2006 (see Daily GPI, July 17, 2006). He assumed the seat of former FERC Chairman Pat Wood. His current term expires on June 30. Prior to coming to FERC, Moeller was executive director of the Washington office for Wisconsin-based Alliant Energy Corp. He was an energy policy advisor to former Sen. Slade Gorton (R-WA) before his stint at Alliant, and had been a staff coordinator for the Washington State Senate Committee on Energy, Utilities and Telecommunications. He was born in Chicago and raised on a ranch near Spokane, WA. He received a bachelor’s degree in political science from Stanford University.

President Obama has announced his intent to nominate Jill E. Sommers to another term as member of the Commodity Futures Trading Commission (CFTC). She was first sworn in as CFTC commissioner in August 2007. Her current term expired in April. Her second term, if confirmed by the Senate, will be for five years.

The Department of Agriculture’s U.S. Forest Service on Monday published a notice of intent in the Federal Register (Vol. 74, No. 118) to prepare an environmental impact statement (EIS) as part of its proposal to enact federal drilling rules within the Allegheny National Forest in Pennsylvania. More than 90% of the mineral rights under the national forest land are privately owned, and the Forest Service previously did not require an environmental analysis, as mandated by the National Environmental Policy Act. Pennsylvania’s energy industry and some state officials are suing the Forest Service to prevent the rules from being enacted (see Daily GPI, June 11). The draft EIS is expected in January 2010, with the final EIS expected in April 2010. Comments are due by Aug. 21 and may be sent to comments-eastern-allegheny@fs.fed.us. The subject line should read “Transition EIS.”

The Commodity Futures Trading Commission (CFTC) has issued a notice of intent and called for comments on a proposed determination that IntercontinentalExchange’s Henry Hub lookalike contract, the Henry Financial LD1 Fixed Price contract, qualifies as a significant price discovery contract (SPDC) in the natural gas market and therefore should be subject to reporting rules and position limits applicable to designated contract markets such as Henry Hub futures contracts offered by the New York Mercantile Exchange (Nymex).

The Commodity Futures Trading Commission (CFTC) has issued a notice of intent and called for comments on a proposed determination that IntercontinentalExchange’s Henry Hub lookalike contract, the Henry Financial LD1 Fixed Price contract, qualifies as a significant price discovery contract (SPDC) in the natural gas market and therefore should be subject to reporting rules and position limits applicable to designated contract markets such as Henry Hub futures contracts offered by the New York Mercantile Exchange (Nymex).