After a two-month investigation, the Department of Justice fileda lawsuit last week against affiliates of ExxonMobil and BurlingtonResources for “knowingly underpaying” natural gas royalties forproduction from federal and Indian lands. Justice also requestedmore time to decide whether to sue Shell Oil and Meridian Oil forsimilar violations.
Month
Articles from Month
El Paso to Manage Mohawk’s Supply, Transportation Storage
El Paso Merchant Energy Co. will manage Niagara Mohawk PowerCorp.’s gas supply and storage refill program in a seven-monthasset management agreement announced last week. The agreement,signed April 1, gives El Paso Merchant management responsibilitiesover Niagara Mohawk’s existing term supply, interstatetransportation and underground storage. The total volume of gas tobe supplied over the term of the agreement is 40 Bcf. El PasoMerchant will handle storage for 20 Bcf.
Justice Sues ExxonMobil, Burlington Over Royalties
After a two-month investigation, the Department of Justice fileda lawsuit earlier this week against affiliates of ExxonMobil andBurlington Resources for “knowingly underpaying” natural gasroyalties for production from federal lands, and requested moretime to decide on a suit against Shell Oil and Meridian Oil forsimilar violations.
Columbia Plans to Unload Propane, Petroleum Marketing
Less than one month after announcing the sale of its Cove PointLNG facilities to Williams for $150 million, Columbia already isputting more assets on the block. It has decided to sell ColumbiaPropane Corp. and Columbia Petroleum.
NERC: Northeast, Southwest Will Be Tight this Summer
The month of May provided a nice opportunity to become familiarwith the power emergency procedures that are likely to be utilizedduring peak demand periods in New England, New York, and theSouthwest this summer. The North American Electric ReliabilityCouncil’s 2000 Summer Assessment on the reliability of bulk powersupply officially confirmed last week that these three areasprobably will be challenged to meet peaking loads.
NERC: Northeast, Southwest Will Be Tight
The month of May provided a nice opportunity to become familiarwith the power emergency procedures that are likely to be utilizedduring peak demand periods in New England, New York, and theSouthwest this summer. The North American Electric ReliabilityCouncil’s 2000 Summer Assessment on the reliability of bulk powersupply concludes that these three areas probably will be challengedto meet peaking loads.
Columbia Plans to Unload Propane, Petroleum Marketing
Less than one month after announcing the sale of its Cove PointLNG facilities to Williams for $150 million, Columbia already isputting more assets on the block. It has decided to sell ColumbiaPropane Corp. and Columbia Petroleum.
Short-Covering Boosts Futures Near 31-Month Highs
Like a monster at the end of horror movie that refuses to die,natural gas futures sprung back to life Friday following Thursday’squiet trading session that led some to believe the bull-run wasover. It didn’t take the market to prove them wrong Friday, as theJune contract gapped higher at the open and then erupted 11.5 centsto close at $3.825.
FERC: MS Projects Not Affected By Destin Suspension
FERC has ruled the six-month suspension of Destin Pipeline Co.L.L.C.’s blanket certificate authority does not apply to theconstruction of interconnects for two projects currently beingbuilt in Mississippi.
Southern Constructing New Plant in Michigan
To assist in the growing demand for electricity in the upperMidwest, Southern Energy Inc. plans to begin construction thismonth of a natural gas-fired plant in Zeeland, MI that will useadvanced natural gas combined-cycle technology and state-of-the-artemission control equipment. Commercial operations are expected tobegin in June 2001, with an initial 300 MW of capacity. Anadditional 530 MW will begin commercial operation by June 2003.