Seeking greater operating flexibility in what is expected to bea more fluid California natural gas market following industryrestructuring, Occidental Petroleum has started work on a $9million, 12-mile 16-inch-diameter gas pipeline out of Elk Hills tothe east of the massive reserve. It will interconnect with PacificGas and Electric Co.’s transmission line swinging north from theArizona border, providing the first interconnection between FourCorners supplies and PG&E when combined with earlier Elk Hillsconnection work done by Oxy.
Makes
Articles from Makes
Cash Makes Strong Post-Holiday Comeback
Buoyed by a much firmer screen and the pickup in load thatfollows a long Labor Day weekend, cash prices rose Tuesday by anickel or more at almost every point, with most of the increasesexceeding a dime. Not only did natural gas futures rise more than adime, but the crude oil futures contract for October also flexedits muscle with a jump of slightly over 60 cents, placing it wellabove $22/bbl, a marketer pointed out.
Calpine Makes Bid to Buy Sheridan Energy
Calpine Corp. offered $41 million in cash to purchaseHouston-based Sheridan Energy yesterday in an attempt to add amajor gas exploration and production arm to its extensive powergeneration assets. The offer breaks down to a $5.50 per shareproposal for Sheridan’s common stock. The tender offer is expectedto be completed in September of this year.
Canadians Set Long-Term Sights on MacKenzie Delta
The recent agreement between TransCanada PipeLines and theNorthwest Territories (NWT) (See NGI, Aug. 2) makes it plain thatboth parties have their sights set on bigger game than relativelymodest pipeline extensions into the southern part of theTerritories. After lying dormant for a decade, visions are revivingof a route extending all the way to the Mackenzie Delta and theBeaufort Sea to tap an estimated 13 Tcf of reserves found in a1970s drilling boom.
Canadians Set Long-Term Sights on MacKenzie Delta
The recent agreement between TransCanada PipeLines and theNorthwest Territories (NWT) (See Daily GPI, July 29) makes it plainthat both parties have their sights set on bigger game thanrelatively modest pipeline extensions into the southern part of theTerritories. After lying dormant for a decade, visions are revivingof a route extending all the way to the Mackenzie Delta and theBeaufort Sea to tap an estimated 13 Tcf or more of reserves foundin a 1970s drilling boom.
Canadian Midstream Makes First Acquisition
New to the scene as of three months ago, privately held CanadianMidstream Services Ltd. (CMSL) made its first acquisition when itacquired a significant interest in sour natural gas processingfacilities in west central Alberta from Poco Petroleum. Formed inCalgary by four former executives of Pan East Petroleum, which wasbought by Poco in December, CMSL aims to capitalize on assetacquisition opportunities.
Yankee Makes Customer Service Upgrade
Yankee Gas Services Co. inaugurated its new customer and billingservice this week, completing a process begun in collaboration withIBM two years ago. Yankee said the system will enhance customerservice, improve efficiency and is Y2K ready. The company would notrelease the cost of the new system.
PA Governor Makes Gas Restructuring a Reality
Pennsylvania Gov. Tom Ridge signed House Bill 1331 last Tuesday, deregulating many aspects of the states gas industry and paving the way for statewide customer choice to begin Nov. 1.
Energy Search Makes Production-Boosting Deal
With prices looking up, Energy Search Inc. of Knoxville, TN,sought and will get a boost to help develop some of its oil and gasproperties. The company made a deal to accelerate development withSouthern Producer Services, a subsidiary of Atlanta-based SouthernEnergy Inc.
Chevron Makes Deeper Job Cuts, Warns Investors
Chevron Corp. warned investors last week that its second quarterearnings will take a hit from severance costs related to 2,500 jobcuts and a recent fire at its Richmond, CA, refinery.