Owns

FERC has given the environmental green light for ANR Pipeline’s project to enhance the working gas capacity at the four natural gas storage reservoirs that the pipeline owns and operates in central and western Michigan.

TC PipeLines LP, which owns 50% of Northern Border Pipeline Co., said that Northern Border and its customers have reached a rate settlement under which 2007 transportation rates will be about 5% lower than rates in 2006. The company said the settlement has been filed with FERC in a pending rate case and is expected to be uncontested.

TC PipeLines LP, which owns 50% of Northern Border Pipeline Co., said Monday that Northern Border and its customers have reached a rate settlement under which 2007 transportation rates will be about 5% lower than rates in 2006. The company said the settlement has been filed with FERC in a pending rate case and is expected to be uncontested.

With two massive hurricanes storming through many of the major oil and natural gas fields of the Gulf of Mexico in less than a month, about 78% of the daily natural gas production and 100% of the oil production in the Gulf of Mexico remained shut in Monday, according to Minerals Management Service (MMS), which compiled reports from 76 producers. MMS also reported that almost 93% of the 819 manned platforms and 75% of the 134 rigs also remained evacuated.

Anadarko Petroleum Corp. and Chevron U.S.A. Inc. have begun a joint exploration venture on 200,000 net mineral acres Chevron owns within the Delaware Basin of West Texas. The acreage overlaps and extends westward from Anadarko’s existing leasehold, which includes the rapidly growing Haley natural gas field. The targeted area, noted Anadarko, has already produced a cumulative 2 Tcf of natural gas.

Anadarko Petroleum Corp. and Chevron U.S.A. Inc. have begun a joint exploration venture on 200,000 net mineral acres Chevron owns within the Delaware Basin of West Texas, acreage that overlaps and extends westward from Anadarko’s existing leasehold, which includes the rapidly growing Haley natural gas field. The targeted area, noted Anadarko, has already produced a cumulative 2 Tcf of natural gas.

Charging Houston Exploration with corporate waste and breach of its fiduciary duty to shareholders, hedge fund JANA Partners LLC, which owns 10% of the independent producer’s common stock, stepped up the pressure on the company Friday, demanding that it open three years of books and accounting records.

A Michigan city pension fund that owns shares in NorthWestern Corp. last week filed a lawsuit in a South Dakota court, seeking to make a class action issue out of the utility company’s reluctance so far to accept public- or private-sector buyout offers. The City of Livonia Employees’ Retirement System filed the suit in a federal court.

Energy Transfer Partners said it purchased a majority of the entity that owns Houston Pipe Line and related storage assets from American Electric Power Corp. (AEP) for about $825 million. AEP had been planning to sell the assets since last year as part of its strategy to refocus on core regulated operations.