Manage

Industry Brief

North American upstream companies affected by political upheaval in North Africa and the Middle East should be able to manage cash flow implications, Fitch Ratings said in a report. Higher crude price realizations, insurance recoveries and capital expenditure reductions should offset any cash flow issues, the report said. U.S.-based integrated companies with exposure are Chevron Corp., ConocoPhillips, ExxonMobil Corp. and Marathon Oil Corp. Independents include Anadarko Petroleum Corp., Apache Corp., Hess Corp., Occidental Petroleum Corp. and Pioneer Natural Resources Co. In addition, Canadian Natural Resources Ltd., Nexen Inc., Suncor Energy Inc. and Murphy Oil Corp. have operations in the region, Fitch said.

March 2, 2011

Transportation Notes

Saying it has limited operational flexibility to manage imbalances in zones 0, L, 1 and 2, and due to the force majeure at Station 214 in Ohio resulting from a potential pipe rupture Thursday night, Tennessee issued an Imbalance Warning Monday requiring all delivery point operators in those zones to keep actual daily takes out of the system equal to or greater than scheduled quantities regardless of their cumulative imbalance position. Similarly, all receipt point operators in the zones were asked to keep actual daily receipts into the system equal to or less than scheduled quantities regardless of their cumulative imbalance position.

February 15, 2011

Interior Moves to Step Up Oversight of Oil, Gas in Offshore

Interior Department officials last Wednesday outlined the structures and duties of two new independent agencies that will separately manage offshore resources and enforce safety and environmental regulations — functions that were once assigned to the former Minerals Management Service (MMS). The restructuring is aimed at avoiding future conflicts of interest between the agency and oil and natural gas producers.

January 24, 2011

Interior Moves to Step Up Oversight of Oil, Gas in Offshore

Interior Department officials Wednesday announced the structures and duties of two new independent agencies that will separately manage offshore resources and enforce safety and environmental regulations — functions that were once assigned to the former Minerals Management Service (MMS). The restructuring is aimed at avoiding future conflicts of interest between the agency and oil and natural gas producers.

January 20, 2011

Transportation Notes

Saying it had limited operational flexibility to manage imbalances and due to expected colder temperatures in its Northeast market area, Tennessee issued an Imbalance Warning in Zones 5 and 6 to take effect Monday. See the bulletin board for details on Imbalance Warning conditions. Tennessee also said Thursday it was lifting a force majeure on Line 527A-800 due to the sale of a damaged line section. “However, physical flow at…West Delta Block 109 will remain shut in until the purchasing party repairs the line” to Tennessee specifications, the pipeline said.

December 3, 2010

Transportation Notes

Saying it had limited operational flexibility to manage imbalances, Tennessee issued a systemwide Imbalance Warning effective Saturday that barred the creation of positive daily imbalances.

October 4, 2010

Transportation Notes

Citing limited operational flexibility to manage imbalances, Tennessee said a systemwide Imbalance Warning will go into effect Saturday and require all delivery point operators “to keep actual daily takes out of the system equal to or greater than scheduled quantities regardless of their cumulative imbalance position. All receipt point operators are required to keep actual daily receipts into the system equal to or less than scheduled quantities regardless of their cumulative imbalance position.” If compliance is not sufficient, Tennessee said, it may take further actions, including contract- or meter-specific OFOs to maintain operational integrity.

August 20, 2010

Interrelated Transco, FGT Expansions Get FERC Nod

FERC Thursday approved Transcontinental Gas Pipe Line’s (Transco) and Florida Gas Transmission’s (FGT) joint application to connect the jointly-owned Mobile Bay Lateral with a liquefied natural gas (LNG) import terminal being developed in Pascagoula, MS, as well as proceed with an upstream pipeline project.

July 19, 2010

Transportation Notes

Affiliates Algonquin and Texas Eastern both reported “limited operational flexibility to manage imbalances” Thursday, and along with a request that shippers and point operators adhere to scheduled volumes, they said effective Friday no nominations for due-pipe imbalance makeups or that create due-shipper imbalances will be allowed. This restriction will remain in effect through Monday, the pipelines said.

August 28, 2009

FERC Approves Waivers to Help Entergy Recover from Gustav

FERC last Thursday granted emergency waivers to Entergy Services to allow Entergy operating companies to manage their resources in the wake of the extensive damage to its transmission system caused by Hurricane Gustav.

September 8, 2008