With his gubernatorial legacy somewhat on the line, Alaska’s lame duck Gov. Frank Murkowski attempted to reach out to his opponents on Wednesday in the hopes of securing a natural gas pipeline contract, warning that unless a special session is agreed upon by the Alaska legislature, plans to build the much ballyhooed gasline are in “significant peril.”
Legacy
Articles from Legacy
Oregon Cities Weigh In on Proposed Columbia R. LNG Sites
Elected officials in the historic town of Astoria, OR, with slightly less than 10,000 population and a legacy as the first permanent U.S. settlement west of the Rockies, voted last month to intervene at FERC in the proposed liquefied natural gas (LNG) terminal project slated for Bradwood Landing. The Astoria City Council voted 4-0 in a special meeting last Thursday to take the action Earlier in the week elected officials in a neighboring city and Clatsop County also took similar action.
Ivan’s Legacy: Gulf Shut-ins Continue
Losses from production shut-ins in the Gulf of Mexico due to Hurricane Ivan ended the week at about the same level they began it at 2.3 Bcf/d and the prospects are that the losses will continue, some for weeks and some for months. The total does not include platforms lost completely, nor does it include lost production from damaged onshore facilities.
Industry Briefs
XTO Energy Inc. said it closed its previously announced purchase of 732 Bcfe of estimated reserves from ChevronTexaco Corp. for $912 million. The “legacy properties” expand XTO’s operations in its Eastern Region, the Permian Basin and Midcontinent area while opening new coalbed methane operations in the Rocky Mountains and a new operating region in South Texas. Beginning Aug. 16, the acquired properties will contribute production of about 88 MMcf/d of gas and 14,000 bbl/d of oil. About 87% of the reserves are proved developed with 47% of the reserves attributable to oil. XTO CEO Bob R. Simpson said the “watershed event sets the stage for years of continued profitable growth.” XTO President Steffen E. Palko said the company anticipates a smooth transition of operations and immediate work on field optimizations. “With the company’s current production growth goal of 28% to 30% this year and 18% to 20% in 2005, we can patiently integrate new drilling inventory into our long-term plans for double-digit organic growth.”
Heap of Negativity Spurs Weekend Price Declines
Former Hurricane Isabel was leaving a messy legacy in the Mid-Atlantic; mostly moderate to cool forecasts dominated the rest of the weather picture; an extra-big storage injection report had its usual day-later impact on the cash market; and of course trading was for the weekend, when industrial load normally slacks off. Small wonder, then, that Thursday’s declines gained downhill momentum and racked up further losses ranging from about a dime to 35 cents Friday.
Allegheny to End Speculative Merchant Trading
Allegheny Energy Inc.’s marketing and trading subsidiary is joining its peers and will drop speculative energy trading. Instead, the Allegheny Energy (AE) Supply will market its energy to the corporation’s “legacy assets,” a spokeswoman said Friday.
Gas Pipeline Centerpiece of Knowles’ Agenda
Alaska Gov. Tony Knowles’ State of the State address this weekcentered on what could become the legacy of his administration: an1,800-mile natural gas pipeline to transport the state’s 36 Tcf tothe marketplace. With energy prices and energy consumption burstingat the seams, Knowles is dedicating the remainder of his term,which expires in 2003, to the gas project.
GOP: Energy ‘Nightmare’ Is Democrats’ Legacy
At the Republican National Conference in Philadelphia last week,Republicans unveiled an energy platform that was highly critical ofthe existing policies of the Department of Energy (DOE), theFederal Energy Regulatory Commission and the EnvironmentalProtection Agency (EPA).
GOP: Energy ‘Nightmare’ Is Democrats’ Legacy
At the Republican National Conference in Philadelphia this week,Republicans unveiled an energy platform that was highly critical ofthe existing policies of the Department of Energy (DOE), theFederal Energy Regulatory Commission and the EnvironmentalProtection Agency (EPA).