Performance

A coalition of environmental groups is going to court to challenge recently approved changes to PJM Interconnection LLC’s capacity performance rules, claiming the updated model for incentivizing reliability disadvantages renewables in favor of fossil fuels.

A coalition of environmental groups is going to court to challenge recently approved changes to PJM Interconnection LLC’s capacity performance rules, claiming the updated model for incentivizing reliability disadvantages renewables in favor of fossil fuels.

ExxonMobil Corp., Chevron Corp., BP plc and super independent ConocoPhillips are expected to lead all other exploration and production (E&P) spenders in the United States this year, with capital expenditures (capex) on average about 5% higher than in 2012, according to a survey by Barclays Capital. Last year’s No. 2 spender, Chesapeake Energy Corp., dropped to No. 5 after cutting its exploration plans.

Mercedes-Benz is providing DHL Express Mexico with Sprinter compressed natural gas (CNG)-gasoline bifuel vehicles. DHL previously said it is satisfied with the performance of the 15 MB Sprinter model, which first was deployed in November in Mexico City. The vans are part of a 218-vehicle delivery from the auto manufacturer’s Mexico arm, including 181 Sprinters, 32 Vito vans and five Smart cars. DHL reported its overall investment was about US$10.5 million. The four-cylinder, 1.8-liter natural gas engines represent “the first natural gas-powered Sprinter fleet in the Americas,” according to DHL.

A standout performance in the Permian Basin increased oil production 23% year/year in the first three months of this year, but it’s not the only racehorse in the stable, Devon Energy Corp.’s top executive said Wednesday. Encouraging results from the emerging Mississippian Lime, for example, may provide the “next leg of growth.”

Halcon Resources Corp. is still figuring out the Utica/Point Pleasant play while it is making progress on well completions in the Bakken/Three Forks and adding acreage to its recently announced East Texas Eagle Ford play, CEO Floyd Wilson said Thursday.

The federal government’s budget sequestration has hit the Energy Information Administration (EIA), forcing the agency to suspend publication of its Annual Energy Review (AER) and its companion publication, Energy Perspectives. The publications, which were to have come out later this year, were to have included data compiled during 2012.

Texas will provide $1 million to close a deal with Ascend Performance Materials Texas Inc. to build a propane dehydrogenation (PDH) facility near Houston, Gov. Rick Perry said.

The physical market lost a dime on average Thursday, but it was a mixed performance with gains in producing regions such as the Gulf Coast, Midcontinent and Rockies unable to offset free-falling prices in the Northeast and East.