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The U.S. Department of Justice (DOJ) has notified victims of Enron Corp.’s fraud and 2001 bankruptcy that they have until April 17 to object to a possible resentencing agreement with imprisoned former CEO Jeffrey Skilling. Skilling, 59, has served more than six years of a 24-year prison term after he was convicted by a Houston jury in U.S. District Court for the Southern District of Texas in May 2006 on 19 criminal counts for securities fraud, conspiracy, making false statements to auditors and insider trading (see NGI, May 29, 2006). The U.S. Court of Appeals for the Fifth Circuit in New Orleans reaffirmed the conviction in 2011, finding that the federal government’s evidence of conspiracy was “overwhelming,” but it reiterated, as it had in 2009, that the sentence had been miscalculated by the district court (see NGI, April 11, 2011). The resentencing issue was remanded to the lower court (U.S. v. Skilling, U.S. District Court, Southern District of Texas, No. 04-cr-00025).

April 8, 2013

Skilling’s 24-Year Prison Term Being Renegotiated

The U.S. Department of Justice (DOJ) has notified victims of Enron Corp.’s fraud and 2001 bankruptcy that prosecutors may enter into an agreement with imprisoned former CEO Jeffrey Skilling that could result in a resentencing.

April 5, 2013
Cabot Given Green Light to Frack — Not Drill — in Dimock, PA

Cabot Given Green Light to Frack — Not Drill — in Dimock, PA

The Pennsylvania Department of Environmental Protection (DEP) has notified Cabot Oil & Gas Corp. that the company has satisfied the terms of a 2010 settlement and may resume hydraulic fracturing (fracking) and completion activities at seven Marcellus Shale natural gas wells in Dimock Township. However, the producer is still barred from drilling new wells in the area.

August 23, 2012

CEGT Notifies FERC of Landslide on Pipeline System

CenterPoint Energy Gas Transmission Co. (CEGT), an indirect unit of Houston-based CenterPoint Energy Inc., notified FERC Monday that it began emergency right-of-way (ROW) remediation activities to stabilize an area of a landslide on its system in an effort to avoid disruption of service to customers.

June 13, 2012

SEC Tells Chesapeake, CEO to ‘Retain Certain Documents’

Chesapeake Energy Corp. and CEO Aubrey K. McClendon were notified last week by the Securities and Exchange Commission (SEC) that the Fort Worth, TX, regional office has launched an informal inquiry and “requested that the company and Mr. McClendon retain certain documents.” The inquiry “should not be construed as an indication that any violation of the federal securities laws has occurred.” The company and McClendon said they “intend to cooperate” in responding.

May 7, 2012

SEC Tells Chesapeake, CEO to ‘Retain Certain Documents’

Chesapeake Energy Corp. and CEO Aubrey K. McClendon were notified by the Securities and Exchange Commission (SEC) that the Fort Worth, TX, regional office has launched an informal inquiry and “requested that the company and Mr. McClendon retain certain documents,” the company said after the stock market closed on Thursday.

May 4, 2012

Keystone XL Pipeline Project Split

TransCanada Corp. has notified the U.S. State Department that it intends to file in the “near future” a Presidential Permit application for a cross-border permit for part of the original $7 billion, 1,700-mile Keystone XL oil pipeline project running from the U.S.-Canada border in Montana to Steele City, Nebraska. The Calgary-based pipeline company said it eventually would file a supplement to the new application with an alternative route in Nebraska.

March 5, 2012

TransCanada Splits Keystone XL Pipeline Project

TransCanada Corp. on Monday notified the U.S. State Department that it intends to file in the “near future” a Presidential Permit application for a cross-border permit for part of the original $7 billion, 1,700-mile Keystone XL oil pipeline project running from the U.S.-Canada border in Montana to Steele City, Nebraska. The Calgary-based pipeline company said it eventually would file a supplement to the new application with an alternative route in Nebraska.

February 28, 2012

TransCanada Splits Keystone XL Pipeline Project

TransCanada Corp. on Monday notified the U.S. State Department that it intends to file in the “near future” a Presidential Permit application for a cross-border permit for part of the original $7 billion, 1,700-mile Keystone XL oil pipeline project running from the U.S.-Canada border in Montana to Steele City, Nebraska. The Calgary, Alberta-based pipeline company said it eventually would file a supplement to the new application with an alternative route in Nebraska.

February 28, 2012

Transportation Notes

Stingray declared a force majeure after being notified of a potential leak in the vicinity of West Cameron Block 543, and as a precautionary measure has asked operators of the West Cameron 544 and High Island A260 platforms to shut in until further notice. Stingray said late Wednesday afternoon it had closed the valve downstream of its 16-inch diameter lateral until investigation of the potential leak is completed. Stingray earlier had asked all producers on its system to shut in until further notice because it was experiencing an excessive amount of liquids arriving onshore that exceeded its takeaway ability.

October 28, 2011
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