While Rep. Joe Barton (R-TX) awaits the go-ahead from the WhiteHouse to move forward on a “package” of proposals to aid Californiaenergy markets, California Democratic lawmakers on Capitol Hillhave registered their strong objections to Barton’s decision toexclude price controls on wholesale electricity transactions fromconsideration.
Articles from Package
In a rebuff to the Senate Republicans’ energy package, theranking Democrat on the Senate Energy and Natural ResourcesCommittee plans to introduce his own comprehensive energylegislation either later this week or early next week, according toa spokeswoman.
Before a packed crowd of the Who’s Who in Washington, D.C.energy circles, Senate leaders yesterday formally introduced theirlong-awaited comprehensive legislation aimed at boosting domesticsupplies of conventional energy fuels and improving energyefficiency and conservation efforts in the nation.
Alarmed by the U.S. appetite for foreign oil, key SenateRepublicans last week introduced a broad-based legislative packagethat would open up areas that have been closed to drilling in thepast, as well as offer tax measures and other incentives tostimulate the production of crude oil, natural gas and alternativeenergy in the Lower 48 states and Alaska.
Anadarko Petroleum Corp. announced yesterday it had retainedMadison Energy Advisors to market a package of its oil and gas assetsin Texas. The properties, located in the Hemphill Field area ofHemphill County, TX, include 83 completions from 70 wells with workinginterests ranging from 5% to 100%. Current gross daily production fromthese properties is approximately 82 BOPD and 8.1 MMcf/d. Anadarko isalso looking to sell the surrounding midstream assets including theHemphill Gathering System, which gathers low-pressure wellhead gas anddelivers it to Williams’ Hobart Ranch Plant. This four to eight inchdiameter pipeline is approximately 50 miles long and currently has 112wells connected. The properties will be sold through a negotiatedsale, with a data room scheduled to open in August. For furtherinformation contact Clint Wetmore at Madison Energy Advisors,281-876-2244 or check Madison’s web page atwww.MadisonEnergy.com.
Reno, NV, utility Sierra Pacific said beginning this month, itwill offer customers Simple Choice, a package of energy andinfotainment products and services for the home paid for on onebill.
Producers and marketers this week offered their conditionalsupport for a comprehensive settlement package that calls forNatural Gas Pipeline Company of America (NGPL) to implement a moretransparent auction process on its system. Several said theirsupport hinged on the outcome of five contested issues that havebeen reserved for FERC comment and resolution.
Seagull Energy agreed to buy an interest in a package of onshoreoil and gas properties in East Texas and western Oklahoma for $102million. The Houston-based company is buying the stock of privatelyheld BRG Petroleum of Tulsa, OK, and the assets of BRG’s limitedpartnerships and programs. The deal should be completed in about 60days. Proved oil and gas reserves total about 103 Bcfe. Dailyproduction from the properties net to the combined BRG interestslast year averaged about 18 MMcf/d of gas and 400 barrels of oiland natural gas liquids. Seagull has identified more than 160drilling locations and 60 recompletion opportunities, primarily inEast Texas. Seagull said it expects significant increases in bothproved reserves and production over the next few years.