Leaving

PanCanadian Petroleum Ltd. will spin off from Canadian Pacific Ltd. (CP) by Oct. 1, leaving PanCanadian with a market value of C$11.7 billion and a place on the top five list of North American exploration and production companies, CFO Wesley Twiss said this week. With the breakup, PanCanadian will have a new name — PanCanadian Energy — and seats on the Toronto and New York Stock Exchanges. In return, CP will distribute its 85% interest to shareholders at a ratio of 0.684 per share for each CP share.

Before leaving for recess, a House Resources subcommittee voted out legislation to the full committee that would rein in the president’s ability to prohibit oil and natural gas production and mining activities on public lands by declaring them as national monuments.

Before leaving for recess earlier this month, the Senate voted out a $60 billion transportation spending bill that calls for record funding for pipeline safety and inspection programs.

General Counsel Kevin P. Madden is leaving the Federal Energy Regulatory Commission to take the position of executive vice president of legal, regulatory and governmental strategy at AGL Resources Inc., the company announced Tuesday. Madden has held a number of executive positions during his lengthy service with FERC, including deputy director of the Office of Markets, Tariffs and Rates, director of the Office of Pipeline Regulation, and director, Office of Hydropower Licensing. His experience includes primary responsibility for crafting and implementing such landmark federal regulatory decisions as Order Nos. 636, 637, 888 and 2000, which resulted in the restructuring of the natural gas and electric utility industries.”We are thrilled to have Kevin Madden, who has been a dominant force in the energy industry, join the AGL team,” said Paula G. Rosput, president and CEO of AGL Resources.

Before leaving for recess last week, the Senate voted out a $60 billion transportation spending bill that calls for record funding for pipeline safety and inspection programs.

FERC Chairman James J. Hoecker announced Wednesday during theCommission’s regular meeting that he will be stepping down on Jan.18, leaving only three seats filled on the five-member panel.

The numerous energy transaction Internet sites are likely toconsolidate leaving somewhere between one and six viable sites,executives of three of the leading sites told a GasMart/Power 2000audience in Denver last week.

The numerous energy transaction Internet sites are likely toconsolidate leaving somewhere between one and six viable sites,executives of three of the leading sites told a GasMart/Power 2000audience in Denver yesterday.

FERC Chairman James J. Hoecker was eager to give thanks lastweek after recently being renominated for a fresh term by PresidentClinton, but Commissioner Vicky Bailey seems burned out and readyto plan her departure.