Dynegy Inc., formerly NGC Corp. has purchased ComptonPetroleum’s Canadian midstream assets, including 78 miles ofpipelines, and the 82 MMcf/d Mazeppa and 15 MMcf/d Gladysprocessing plants in southern Alberta, for C$60 million. The dealalso includes a transportation, processing and revenue sharingagreement whereby Compton is assured processing and transportationcapacity at set rates and is paid a fee for bringing in new wellsand production.
Pipelines
Articles from Pipelines
TransCanada Recapitalizing Gathering
TransCanada PipeLines created limited partnership TransCanadaGas Processing LP and is offering units to the public. TransCanadaholds various ownership interests in five gathering and processingfacilities and all related agreements in Alberta and Saskatchewan.With offering proceeds, the partnership will acquire an indirect75% interest in the facilities, while TransCanada will retain theremaining 25%. After 20 years, TransCanada will reacquire thefacilities at their fair market value for cash or shares ofTransCanada. “TransCanada will recapitalize these Canadian gasprocessing investments in a very efficient manner and investorswill receive attractive returns and tax treatment,” saidTransCanada CEO George Watson.
June 2, 1998
EIA Sees Pipeline Capacity, Utilization Up
The capacity of natural gas pipelines reached an all-time highof more than 84 Bcf/d or 30.7 Tcf/year in 1997, according to areported released Friday by the Energy Information Administration.”This represents a 15% increase over installed capacity reported in1990,” EIA said in a report: “Deliverability on the InterstateNatural Gas Pipeline System.” Flowing gas increased 24% between1990 and 1996, resulting in a record high 75% utilization rate,while U.S. consumption grew by 17%, fed by a doubling of imports.U.S. production increased 6%.
May 18, 1998
TransCanada Files 1999 Capacity Additions
TransCanada PipeLines will be continuing its steady pace ofexpansions with a $984 million construction program in 1999 to add275 MMcf/d in delivery capacity to eastern Canada and the U.S.Midwest and Northeast.
April 30, 1998
Texas Eastern Capacity-Release Ruling Upheld
A FERC majority yesterday reaffirmed the right of interstatepipelines to “reasonably withhold” their consent for customers topermanently transfer their contract liabilities to third-partyreplacement shippers under capacity releases.
April 30, 1998
Legislation Would Alter Eminent Domain
Sen. Fred Thompson (R-TN) has introduced legislation that wouldrequire pipelines seeking to seize private property for projects topersonally notify affected landowners by certified mail of theirintention at the outset of FERC proceedings, giving them theopportunity to “participate meaningfully” in the process.
April 14, 1998
Bidders Lining Up for Pan Alberta Gas
After a pause for consideration by one potential taker,TransCanada PipeLines, Canada’s second-biggest pool of natural gassupplies is again looking for new owners. Pan-Alberta Gas’president, Ross Weaver, confirmed, “we are still for sale.”
March 2, 1998
Tennessee Beefing Up Offshore Louisiana Lines
Tennessee Gas Pipeline has filed plans to increase capacity onsix separate pipelines in the Gulf of Mexico that together wouldrepresent an increase of over 720 MMcf/d in offshore lines owned byTennessee and other parties and a net increase in deliverabilityout of the Gulf of 200 MMcf/d.
February 13, 1998
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