The fifth sale of blocks in the Western Gulf of Mexico has beenset for Aug. 23 in New Orleans by the U.S. Department of Interior’sMinerals Management Service (MMS). The Final Notice of Sale,published in yesterday’s Federal Register, covers 3,789 availableblocks encompassing about 20.61 million acres in the Western Gulf’sOuter Continental Shelf Planning Area offshore Texas, and in deeperwaters offshore Louisiana. Blocks are located from nine to 200miles offshore in water depths ranging from eight meters to morethan 3,000 meters. The MMS said this is the first Western Gulf saleto require the use of electronic funds transfer procedures for1/5th bonus bids. Current OCS lessees and operators may securepayment using a single bid form; others may be required to securethe EFT payment another way. The Sale Notice Package is availableon the MMS Internet site atwww.gomr.mms.gov/homepg/lsesale/lsesale.html, or from the Gulf ofMexico Region Public Information Unit, 1201 Elmwood Park Blvd., NewOrleans, LA 70123-2394. You can also call 504-736-2519 or800-200-GULF.
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Power Shock Sends CA Players Running for Risk Management
In the wake of California’s latest round of electricity priceand supply shock concentrated in San Diego, some of the state’smajor energy industry participants have raised the level ofinterest in forward markets and hedging. San Diego Gas and ElectricCo., in particular, has been second guessed about why it did notuse available hedging instruments through the state’s nonprofitpower exchange to help ease the impact of recent wholesale pricespikes on its retail customers.
MMS Offers 25 MMcf/d MOPS Royalty Gas
The Minerals Management Service (MMS) is soliciting bids forabout 25 MMcf/d or its royalty share of gas produced from certainoffshore leases in the Matagorda Island Offshore Operating System(MOPS). Bids are due by July 24 at 1 p.m. ET and the winner will bechosen within the following 24 hours.
MMS Offers 25 MMcf/d MOPS Royalty Gas
The Minerals Management Service (MMS) is soliciting bids forabout 25 MMcf/d or its royalty share of gas produced from certainoffshore leases in the Matagorda Island Offshore Operating System(MOPS). Bids are due by July 24 at 1 p.m. ET and the winner will bechosen within the following 24 hours.
Unocal Ups Ownership in Northrock to 96%
Unocal’s Canadian subsidiary, Unocal Canada Management Ltd., hasconsolidated 96% of the shares of Northrock Resources Ltd., underits ownership in its recent bid to complete the acquisition of theCalgary-based oil and natural gas exploration and productioncompany.
GRI and IGT Form GTI
GRI and the Institute of Gas Technology (IGT) named theirrecently merged organizations the Gas Technology Institute (GTI)last week and formed a senior management team led by John F.Riordan, president and CEO. The research groups announced theirmerger in April, saying it was mainly an effort to reduceoverlapping dues paid by their members and to combine the variousstrengths of the two entities.
Calpine Aggressively Seeking Gas Supplies for Power Plants
The acquisition and management of natural gas supplies is a keypart of San Jose, CA-based Calpine Corp.’s five-year strategy tohave generating plants totaling 25,000 MW by the end of 2004, theaggressive merchant power plant developer/operator’s seniorexecutives told the company’s annual shareholders’ meeting lastweek.
Calpine Aggressively Seeking Gas Supplies
The acquisition and management of natural gas supplies is a keypart of San Jose, CA-based Calpine Corp.’s five-year strategy tohave generating plants totaling 25,000 MW by the end of 2004, theaggressive merchant power plant developer/operator’s seniorexecutives told the company’s annual shareholders’ meeting lastweek.
MMS: RIK Pilots Don’t Violate Buy-Sell Ban
The Interior Department’s Minerals Management Service contends arecent bid to exclude Outer Continental Shelf (OCS) pipelines fromFERC’s industry-wide ban on “buy-sell” transactions is based on theincorrect assumption that such transactions routinely occur as partof the agency’s royalty in-kind (RIK) projects.
MMS: RIK Pilots Don’t Violate Buy-Sell Ban
The Interior Department’s Minerals Management Service contends arecent bid for FERC to exclude Outer Continental Shelf (OCS)pipelines from an industry-wide ban on “buy-sell” transactions isbased on the incorrect assumption that such transactions routinelyoccur as part of the agency’s royalty in-kind (RIK) projects.
