Participated

Form 552 data collected by FERC indicates that more than 2,000 companies participated in almost 56 Tcf of physical gas market transactions in 2009, about 2.5 times the volume of gas produced, according to an analysis issued by FERC’s Office of Enforcement Thursday.

Form 552 data collected by FERC indicates that more than 2,000 companies participated in almost 56 Tcf of physical gas market transactions in 2009, about 2.5 times the volume of gas produced, according to an analysis issued by FERC’s Office of Enforcement Thursday.

Williams said it agreed to pay $55 million to settle a class action lawsuit Monday. The plaintiffs in the lawsuit are former employees who participated in the company’s 401(k) retirement plan during a period that began prior to July 24, 2000.

Magnum Hunter Resources said it has participated in three new field discoveries in the Gulf of Mexico that the company estimates will add 36 MMcf/d of gas production (12 MMcf/d net to Magnum Hunter) later this year. “Our company’s daily oil and gas production from the Gulf of Mexico continues to increase each quarter with production now averaging 55 MMcfe/d,” said Charles R. (Chuck) Erwin, senior vice president of exploration. “Our ability to ‘fast track’ some of our 2003 discoveries in order that we can benefit immediately from current high commodity prices, should bode well for our second half 2003 income estimates. With drilling rig and service costs remaining at unusually low levels in relation to current commodity prices, the Gulf of Mexico will capture a minimum of $60 million or 60% of our company’s 2003 capital budget,” he said. “Magnum Hunter will be participating in an additional seven wells in the Gulf of Mexico prior to year-end.”

Magnum Hunter Resources said it has participated in three new field discoveries in the Gulf of Mexico that the company estimates will add 36 MMcf/d of gas production (12 MMcf/d net to Magnum Hunter) later this year.

Duke Energy told federal regulators last Thursday that it participated in 28 round-trip trades over the IntercontinentalExchange (ICE) trading platform, or five more than it previously disclosed in early July in an initial report. All of the sham energy transactions apparently were designed to boost trading volumes, according to the company.

Duke Energy told federal regulators Thursday that it participated in 28 round-trip trades over the IntercontinentalExchange (ICE) trading platform, or five more than it previously disclosed in early July in an initial report. All of the sham energy transactions apparently were designed to boost trading volumes, according to the company.

Duke Energy told federal regulators last Tuesday it participated in round-trip, or “wash,” trading activities, but said it did not do so “for the purpose” of inflating reported revenues or influencing prices. Nevertheless, the trades did result in a relatively small gain in revenues, the company said, while also admitting to a small number of bogus transactions that were intended to boost trading volumes.

Duke Energy told federal regulators Tuesday it participated in round-trip, or “wash,” trading activities, but said it did not do so “for the purpose” of inflating reported revenues or influencing prices. Nevertheless, the trades did result in a relatively small gain in revenues, the company said, while also admitting to a small number of bogus transactions that were intended to boost trading volumes.