Miles

Western Gas Resources Inc. reported a 65% increase in earnings per diluted share Tuesday to 56 cents/share, a 7.2% increase in gas production to an average of 149 MMcf/d, higher gas gathering throughput and much higher realized gas prices.

Shell US Gas & Power LLC announced plans Wednesday to build a deepwater LNG import terminal about 38 miles offshore Louisiana in about 55 feet of water. The terminal, which will be developed for service in 2008-09 by Shell subsidiary Gulf Landing LLC, will have the capacity to deliver 1 Bcf/d into the U.S. interstate pipeline network.

Southern Union President Thomas F. Karam believes he got a steal with the purchase of Panhandle Energy from CMS Energy. In an interview with NGI last week, Karam said the new pipelines, storage fields and the nation’s biggest liquefied natural gas (LNG) import terminal will provide Southern Union with a 35-50% increase in earnings this year and a substantial increase in cash flow.

Newly formed gas midstream company Regency Gas Services has acquired approximately 2,300 miles of natural gas gathering lines and four processing plants as well as pipeline assets from El Paso Corp. for $120 million.

Dynegy Inc. has closed the sale of its U.S. communications business, including a high-capacity broadband network spanning more than 16,000 miles with access points in 44 U.S. cities, to an affiliate of 360networks Corp. Financial terms of the deal, first announced in late March, were not disclosed. CEO Bruce A. Williamson said the sale finalizes Dynegy’s exit from communications. “The Dynegy you see now — and into the future — is one built around its core energy businesses, which include power generation, natural gas liquids and regulated energy delivery.”

Pacific Gas and Electric said it completed a $40 million expansion of its Line 401, adding 14 miles of new 42-inch diameter pipe that increases capacity on the line by 180 MMcf/d to a mid-winter maximum of about 2.2 Bcf/d. The utility’s instate California pipeline expansion project was approved as a capital expenditure through the court adopted bankruptcy review process.

Pacific Gas and Electric said it completed a $40 million expansion of its Line 401, adding 14 miles of new 42-inch diameter pipe that increases capacity on the line by 180 MMcf/d to a mid-winter maximum of about 2.2 Bcf/d. The utility’s instate California pipeline expansion project was approved as a capital expenditure through the court adopted bankruptcy review process.

Petal Gas Storage LLC, a subsidiary of El Paso Energy Partners LP, said Thursday that it is holding a non-binding open season for up to 5 Bcf of firm natural gas storage capacity in order to evaluate market interest in proposed plans to expand its facility in Petal, MS. The capacity is anticipated to be available for use by Jan. 1, 2004.

Denver-based MarkWest Hydrocarbon Inc. has acquired an Alberta gathering system for C$3.1 million (US$2.0 million). The purchase includes six miles of pipelines and compression facilities that currently gather 5,500 Mcf/d. MarkWest plans to expand the system to 10,000 Mcf/d by early 2002. The new addition in southeastern Alberta is located in the Bantry field, where MarkWest already has wells and drilling locations.