Partially

Although almost two years old and still not implemented, Southern California Gas Co.’s intra-state transmission/storage restructuring as embodied in a so-called “comprehensive settlement” still could be salvaged by state regulators.

Although almost two years old and still not implemented, Southern California Gas Co.’s intra-state transmission/storage restructuring as embodied in a so-called “comprehensive settlement” still could be salvaged by state regulators.

Brought on by lower earnings in its natural gas transmission segment, partially offset by higher earnings from the power business, TransCanada Corp. on Friday posted 2Q2003 net income of C$202 million or C$0.42 per share, compared to C$205 million or C$0.43 per share for the second quarter 2002. The quarter was almost like deja vu from 1Q2003, when the power segment’s contribution bailed out the company (see Daily GPI, April 28).

Brought on by lower earnings in its natural gas transmission segment, partially offset by higher earnings from the power business, TransCanada Corp. on Friday posted 2Q2003 net income of C$202 million or C$0.42 per share, compared to C$205 million or C$0.43 per share for the second quarter 2002. The quarter was almost like deja vu from 1Q2003, when the power segment’s contribution bailed out the company (see NGI, April 28).

Burlington Resources Inc. reported the partial resumption of natural gas production from the Madden Field in Wyoming. Production has resumed from two of the six Madden Deep wells, and the Train II unit at the Lost Cabin Processing Plant has restarted, the company said. The wells are flowing at 65 MMcfe/d, yielding plant natural gas output of 40 MMcfe/d.

Burlington Resources Inc. reported the partial resumption of natural gas production from the Madden Field in Wyoming. Production has resumed from two of the six Madden Deep wells, and the Train II unit at the Lost Cabin Processing Plant has restarted, the company said. The wells are flowing at 65 MMcfe/d, yielding plant natural gas output of 40 MMcfe/d.

Dynegy Inc., brought down in the stock market partially because of its three-week-long proposed merger with Enron Corp. last year, overcame its late-year bad karma and posted a 47% increase in 2001 recurring earnings to $2.10, up from 2000’s earnings of $1.43 per share. Recurring net income increased 58% to $713 million, up from a year earlier when net income was $452 million. For the coming year, the company expects to see 15% long-term growth, which in the near term will be in North America, said CEO Chuck Watson.

Dynegy Inc., brought down in the stock market partially because of its three-week-long proposed merger with Enron Corp. last year, overcame its late-year bad karma and posted a 47% increase in 2001 recurring earnings to $2.10, up from 2000’s earnings of $1.43 per share. Recurring net income increased 58% to $713 million, up from a year earlier when net income was $452 million. For the coming year, the company expects to see 15% long-term growth, which in the near term will be in North America, said CEO Chuck Watson.

The Department of Energy’s Office of Fossil Energy announced plans last week to partially fund 20 oil and gas research and development projects with a total contribution reaching more than $22 million.