(Editor’s Note: This story originally ran in the March 7 edition of Daily GPI)
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Kerr-McGee Increases 2Q Net Loss 50 Cents for Environmental Costs
Kerr-McGee Corp. lost 50 cents more per share in the second quarter than it originally reported, announcing Friday that “subsequent events” since the quarter ended June 30 will require it to include environmental remediation costs at former plant sites and additional exploration expenses.
eNymex Died, But Its Soul Lives on in Access
eNymex, as originally conceived is dead, but the idea of providing over-the-counter (OTC) energy products lives on through Nymex Access, a spokeswoman for the New York Mercantile Exchange said Monday in an interview with NGI.
Bush Says He Hasn’t Talked with Enron, Says Concerned for Ex-Employees
In a press conference originally set up to update the public about international affairs, President Bush said Friday that he had not had any contact with Enron Corp. officials since the bankruptcy filing, but said he was concerned about the city of Houston and the ex-Enron employees who had lost their “life savings” when the company declared bankruptcy.
Williams Extends Kern River Open Season
Williams has extended the open season on its Kern River natural gas pipeline system through Tuesday (Sept. 18). The open season, originally set to end last Wednesday, seeks binding commitments for seasonal and year-round firm backhaul transportation service from Kern River’s new interconnect near Elberta, UT with Questar Pipeline’s ML No. 104 Project to markets along the Wasatch Front that are upstream of the interconnect, which is scheduled to be completed Nov. 1.
Williams Extends Kern River Open Season
Williams said Wednesday it would extend the open season on its Kern River natural gas pipeline system through Sept. 18. The open season, originally set to end Wednesday, seeks binding commitments for seasonal and year-round firm backhaul transportation service from Kern River’s new interconnect near Elberta, UT with Questar Pipeline’s ML No. 104 Project to markets along the Wasatch Front that are upstream of the interconnect, which is scheduled to be completed Nov. 1.
Transportation Notes
Gulf South said unscheduled maintenance that began Monday on unit #3 at Bistineau (LA) Station, originally expected to be wrapped up Wednesday afternoon, has been extended through Friday. The work is reducing injection capacity at the pipeline’s Bistineau Storage Facility by 75 MMcf/d.
Texas Slows Down Pilot Deregulation
The expected roll-out of the Texas pilot deregulation program, originally scheduled for June 1, has been moved to mid-July so that the state’s grid operator, the Electric Reliability Council of Texas (ERCOT), can work out computer glitches. Retail competition begins across the state Jan. 1, 2002.
Texas Slows Down Pilot Deregulation
The expected roll-out of the Texas pilot deregulation program, originally scheduled for June 1, has been moved to mid-July so that the state’s grid operator, the Electric Reliability Council of Texas (ERCOT), can work out computer glitches. Retail competition begins across the state Jan. 1, 2002.
Industry Briefs
Southern Mineral Corp. and PetroCorp Inc. Monday announced that the date of their proposed merger, originally scheduled for on or about May 30, has been moved to on or about June 6. The final date for receipt of stock elections previously set at May 29, has been moved to June 5. In connection with the extension of the closing date, Southern Mineral and PetroCorp have amended the terms of the merger agreement to extend the termination date of the merger agreement from May 31 to June 7. The companies said the delay in closing the merger does not represent a material change in the economic or contractual terms of the agreement. Southern Mineral Corp. is an independent oil and gas company engaged in the acquisition, exploitation, exploration and operation of oil and gas properties, primarily along the Gulf Coast of the United States, in Canada and in Ecuador.