Pays

Williams said Thursday that it paid $117.5 million to Magellan Midstream (formerly Williams Energy Partners) to be released from historical indemnities related to the Magellan pipeline assets that Williams previously owned. The indemnities primarily relate to environmental issues for periods during which Williams was the owner of the Williams Pipe Line system.

Williams said Thursday that it paid $117.5 million to Magellan Midstream (formerly Williams Energy Partners) to be released from historical indemnities related to the Magellan pipeline assets that Williams previously owned. The indemnities primarily relate to environmental issues for periods during which Williams was the owner of the Williams Pipe Line system.

XTO Energy said it will pay ExxonMobil Corp. about $336-$341 million for 38 million boe of gas and oil reserves, 82% of which are proved developed, in the Permian Basin of West Texas and the Powder River Basin of eastern Wyoming. The properties have additional upward reserved potential of 30-50 Bcf of gas through future development, XTO said.

XTO Energy said it will pay ExxonMobil Corp. about $336-$341 million for 38 million boe of gas and oil reserves, 82% of which are proved developed, in the Permian Basin of West Texas and the Powder River Basin of eastern Wyoming. The properties have additional upward reserved potential of 30-50 Bcf of gas through future development, XTO said.

Standard & Poor’s said last week that while it is certainly “disturbing” news that Nicor Inc. will pay $38.5 million to settle a class action lawsuit and may face a civil lawsuit from the Securities and Exchange Commission for fraud and securies law violations, Nicor’s financial condition is “so extraordinarily robust that the ratings could withstand additional financial penalties.

Duke Energy Trading and Marketing has agreed to pay $550,000 to settle charges of energy market manipulation, including participating in a variety of trading and power transportation schemes during the California’s 2000-2001 electricity crisis. The agreement was approved last Monday by an administration law judge with the Federal Energy Regulatory Commission.

Standard & Poor’s said Monday that while it is certainly “disturbing” news that Nicor Inc. will pay $38.5 million to settle a class action lawsuit and may face a civil lawsuit from the Securities and Exchange Commission for fraud and securies law violations, Nicor’s financial condition is “so extraordinarily robust that the ratings could withstand additional financial penalties.

A proxy filed with the Securities and Exchange Commission earlier this month by PG&E Corp. indicated its CEO’s compensation doubled last year, reaching almost $20 million, including stock options. Separately, a spokesperson for the holding company for the Chapter 11-protected Pacific Gas and Electric Co. utility said the firm earlier in the year paid out $83 million in retention bonuses to 17 top executives in the parent, utility and former merchant energy units.

Standing out as a bright spot of corporate morality, the team formed at KeySpan Corp. of CEO Robert Catell and Corporate Ombudsman Kenny Moore show how a company can be successful by operating the right way. The story of the unlikely duo, which pairs a large company CEO with a former monk, is told in a new book: “The CEO & The Monk, One Company’s Journey to Profit and Purpose.”