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Rapid City, SD-based Black Hills Corp. has named board member John Vering as interim president and general manager of its oil and gas exploration and production unit. Vering is being moved in temporarily to run Black Hills Exploration & Production (BHEP) to replace existing management at BHEP, which the parent company acknowledged has had “disappointing” results. Vering is a former CEO of Union Pacific Resources Inc., a Canadian affiliate of Union Pacific Resources Group, a $7 billion oil and gas company prior to its acquisition 10 years ago by Anadarko Petroleum Corp. While reiterating that Black Hills senior management still thinks the oil and gas business has value for Black Hills shareholders, CEO Dave Emery said BHEP results have been “disappointing, and we are pleased that Vering has agreed to lead the effort to strengthen our long-term strategic plan and make improvements with an objective of achieving stronger financial and operational results.”

Cheniere Energy Inc. has agreed to sell its 30% limited partner interest in Freeport LNG Development LP to Zachry American Infrastructure LLC, a member of the Zachry group of companies in San Antonio, TX, and Hastings Funds Management (USA) Inc., a subsidiary of Westpac Banking Corp., which is acting on behalf of institutional investors. Net proceeds of about $104 million will be used to pay down a portion of the $400 million, 9.75% term loan held by a Cheniere subsidiary. The transaction is in-line with Cheniere’s strategy of improving its capital structure and reducing debt, the company said, and is expected to close in the second quarter subject to due diligence and regulatory approvals. Freeport LNG Development owns and operates an LNG receiving and regasification terminal on Quintana Island in Texas. Houston-based Cheniere is primarily engaged in LNG related businesses and owns and operates the Sabine Pass LNG terminal and Creole Trail pipeline in Louisiana.

Cheniere Energy Inc. has agreed to sell its 30% limited partner interest in Freeport LNG Development LP to Zachry American Infrastructure LLC, a member of the Zachry group of companies in San Antonio, TX, and Hastings Funds Management (USA) Inc., a subsidiary of Westpac Banking Corp., which is acting on behalf of institutional investors. Net proceeds of about $104 million will be used to pay down a portion of the $400 million, 9.75% term loan held by a Cheniere subsidiary. The transaction is in-line with Cheniere’s strategy of improving its capital structure and reducing debt, the company said, and is expected to close in the second quarter subject to due diligence and regulatory approvals. Freeport LNG Development owns and operates an LNG receiving and regasification terminal on Quintana Island in Texas. Houston-based Cheniere is primarily engaged in LNG related businesses and owns and operates the Sabine Pass LNG terminal and Creole Trail pipeline in Louisiana.

California Gov. Arnold Schwarzenegger Wednesday moved to fill two upcoming vacancies on the five-member California Energy Commission (CEC), naming a veteran energy policy expert and a scientist with experience at the state air pollution regulatory agency that sites electric generation plants. The appointments of Robert Weisenmiller, 61, and Anthony Eggert, 37, require confirmation by the state Senate.

A request to resume the first offshore drilling in state waters in 40 years was turned down Thursday by the three-member California State Lands Commission on a 2-1 vote at a meeting in Santa Barbara, CA. Plains Exploration and Production Company (PXP), which holds the federal lease for the offshore Point Pedernales Field about 50 miles northwest of Santa Barbara, had applied for two state offshore leases to develop the Tranquillon Ridge Oil Field.

Nine counties in Colorado have lined up against Democratic legislation — co-sponsored by a member of the state’s congressional delegation — that would put regulation of a drilling technique known as hydraulic fracturing (hydrofracing) in the hands of the federal government.

Nine counties in Colorado have lined up against Democratic legislation — co-sponsored by a member of the state’s congressional delegation — that would put regulation of a drilling technique known as hydraulic fracturing (hydrofracing) in the hands of the federal government.

President Obama has announced his intent to nominate Jill E. Sommers to another term as member of the Commodity Futures Trading Commission (CFTC). She was first sworn in as CFTC commissioner in August 2007. Her current term expired in April. Her second term, if confirmed by the Senate, will be for five years.

The five-member Clatsop County Commission voted 4-1 Thursday to reaffirm its approval of NorthernStar Natural Gas’s proposed Bradwood Landing liquefied natural gas (LNG) terminal along the Columbia River 18 miles east of Astoria, OR. The elected county leaders reiterated a vote Dec. 13, 2007 to approve land-use changes sought by NorthernStar and the county’s conditions for approval.