The Coastal Corp benefited from its mix of producer and pipelineoperations, announcing a 17% jump from 3Q 1997 on a per-sharebasis. Coastal earned $89.5 million, or 41 cents/share, compared to$80.4 million, or 35 cents/share in 3Q 1997. Along with earnings,the company reiterated its commitment to the North American gassector, calling it the best energy investment opportunity anywhere.
Pipeline
Articles from Pipeline
Cross Bay Tests N.Y. Demand Growth
Cross Bay Pipeline Co., a limited liability company formed bysubsidiaries of Williams, Duke Energy and KeySpan Energy, announcedit is holding a 30-day open season from Oct. 15 to Nov. 13 todetermine market interest in 125,000 Dth/d of firm capacity to theNew York City metropolitan area.
Cross Bay Holds Open Season for NY Service
Cross Bay Pipeline Co., a limited liability company formed bysubsidiaries of Williams, Duke Energy and KeySpan Energy, announcedit is holding a 30-day open season from Oct. 15 to Nov. 13 todetermine market interest in 125,000 Dth/d of firm capacity to theNew York City metropolitan area.
Williams Buys Back Kern River Option
Williams’ Kern River Pipeline has taken action to ensure itscontinued control over market access, completing an agreement tobuy-out a future option on the California portion of the line heldby Southern California Gas. The option would have been exercisablein 2012.
Rockies Gas Coming Into Its Own
Over the next decade as the Rocky Mountain is saved byincreasing pipeline transportation, the trend of reserve growth inrecent years will finally pay off in dramatic production increases,Fred Julander, past chairman of the Colorado Oil & Gas Assoc.told the group’s annual meeting.
Calpine, Bechtel to Build 2,000 MW of Gas-Fired Power
Expanding on its plan to add additional gas-fired powergeneration capacity near the Dow Chemical power plant and pipelinefacilities in Pittsburg, CA, that it purchased earlier this month,Calpine Corp. announced a partnership yesterday with BechtelEnterprises to build 2,000 MW of gas-fired power generation inNorthern California, primarily near San Francisco.
Transportation Note
Mojave Pipeline will shut in its Mt. Poso delivery point foreight hours July 28 to modify piping. El Paso’s Monument B Plantwill be down eight hours on July 29 for piping repairs. TheIWARMONU interconnect will be completely shut in while ITEXNEUNwill be limited to 35 MMcf/d.
Sale of Columbia’s Project Penny Facilities Opposed
Columbia Gas Transmission’s proposal to sell its Project Pennytransmission system in western New York and northwesternPennsylvania to Norse Pipeline LLC, which seeks to refunctionalizethe facilities as gathering, is a “thinly-veiled attempt todramatically increase” rates to move gas on the system atproducers’ expense, charged an independent producer.
Dynegy Sells Haynesville Plant to Duke
Dynegy Inc. (formerly NGC Corp.) sold its Haynesville, LA, gasprocessing and fractionation facility and related gas and gasliquids pipeline systems to Duke Energy Field Services. The sale ofthe non-strategic asset continues the rationalization of certaingas processing plants acquired from Trident and Chevron, which hasresulted in greater operating efficiencies and lower costs, Dynegysaid.
British Columbia Development on the Move
The apparent success of the Alliance Pipeline Project islighting a fire under government and industry plans to build upnatural gas production behind its starting point, in northeasternBritish Columbia, into a mainstay of supplies for markets east ofthe Rocky Mountains.