Parties

Over the objection of major producers and other parties, a FERC administrative law judge Tuesday concluded that Natural Gas Pipeline Company of America’s (NGPL) proposed hydrocarbon dew point (HDP) safe harbor of 15 degrees Fahrenheit is “just and reasonable.”

Kerr-McGee Corp. said late Monday it has entered into sales agreements with multiple parties to sell some noncore assets located in Texas, Oklahoma, Louisiana, Colorado and Wyoming. The sales, which are expected to net the company about $330 million, are part of a previously announced divestiture program of select U.S. onshore oil and natural gas properties.

A subsidiary of independent producer Parallel Petroleum Corp. has entered into an agreement with 10 unaffiliated parties to acquire 6.4 million boe of proved reserves in the Permian Basin for $44.5 million. Once completed, the transaction will raise Parallel’s proved reserves by 29%.

The U.S. Navy, having suddenly discovered that LNG cargoes might be traversing their torpedo testing grounds, has joined the growing chorus of parties asking FERC to reconsider its decision last month to approve the controversial Weaver’s Cove LNG import terminal project in Fall River, MA.

Dallas-based Pioneer Natural Resources Co. has signed agreements worth $177 million with two undisclosed parties to purchase additional assets in two key U.S. onshore core areas, the Permian Basin and South Texas.

Williston Basin Interstate Pipeline Co. is holding a nonbinding open season through July 1 for parties interested in acquiring firm storage service, and firm transportation service if required, through the construction of new facilities on its system.

Northwest declared a Stage III entitlement with 13% tolerance for overruns for receiving parties located north of the Kemmerer (WY) Compressor Station, effective Friday until further notice. The pipeline noted that weather in its market area “is extremely cold and predicted to remain cold over the next week” and that due to extreme drafting its Jackson Prairie storage account had dropped from 2.5 Bcf to 1.7 Bcf, “even with the assistance of a few customers realigning their supplies.”

FERC has approved an offer of settlement that calls for Williams Cos. Inc. to pay California’s three largest utilities approximately $140 million to resolve claims and refunds arising from the company’s sale of electricity and natural gas to the state during the market crisis of 2000-2001.

Among the California large industrial parties there is still a bit of disagreement over the eventual allocations of the monies even as last Friday a California Superior Court in San Diego approved the $1.6 billion settlement between El Paso Corp. and four western states, including California. The state court phase of the settlement approval process drew one vocal objection from the California League of Food Processors (CLFP).