Plans

Minneapolis-based Xcel Energy Inc. on Friday filed with Colorado regulators plans to raise retail natural gas utility rates while keeping retail electricity charges basically flat. Xcel’s combination Public Service Company of Colorado asked to make the rate changes effective April 1.

Magnum Hunter Resources Inc. is in talks with three parties for the potential sale of Eagle Ford Shale assets as part of plans this year to sell $400-500 million of assets. An announcement is expected soon, according to the company. During a recent conference call, CEO Gary Evans said all three Eagle Ford bidders have made offers in the same price range. Two are offering all cash and one is offering cash and equity, he said. “So from our perspective, it doesn’t really matter who ends up with it. But we do feel like we will have an announcement on that in short order,” he said.The company also is considering selling assets in the Pearsall Shale as well, and assets in the Williston Basin and potentially in Kentucky, Evans said.

Continuing its strategy to take advantage of cheap U.S. natural gas and natural gas liquids, The Dow Chemical Co. plans to build several specialty material production units for its performance plastics franchise on the U.S. Gulf Coast, the company said Monday.

The Senate Energy and Natural Resources Committee plans to hold a hearing at 10 a.m. on April 9 to consider the nomination of Ernest Moniz to be secretary of the Department of Energy (DOE). Moniz would succeed current Energy Secretary Steven Chu (see Daily GPI, March 5). Moniz currently serves as science adviser in the administration and director of the MIT Energy Initiative. He is a familiar face to lawmakers on Capitol Hill, where he has testified on a variety of energy issues. Moniz has a reputation of being supportive of natural gas development, calling it a “bridge fuel” even as he has called for more funding for renewable energy. In 2010 he co-authored an MIT study that concluded that gas would be a leader in reducing U.S. greenhouse gas emissions over the next several decades, mostly by replacing older, inefficient coal plants with combined-cycle gas generation.

Outgoing Anadarko Petroleum Corp. Executive Chairman Jim Hackett plans to begin attending Harvard Divinity School in the fall. Hackett, 59, who served as CEO of The Woodlands, TX-based operator until last May, long has been interested in learning to write, speak and teach about faith and leadership, which were key reasons he retired from the company, according to a spokesman. The Harvard University program offers four degree programs: master of theological studies, master of divinity, master of theology and doctor of theology. Hackett’s retirement is to take effect after Anadarko’s annual meeting in May. He previously worked at Devon Energy Corp., as well as NGC Corp., Burlington Resources (acquired by Anadarko in 2006), and Amoco Oil Co. Hackett is a board member and adjunct professor at Rice University.

Gastar Exploration Ltd. plans to suspend its Marcellus Shale capital program “for a short period” during the second half of the year while it monitors production results and allows time for constraints in midstream services to be worked out, CEO Russ Porter said last week.

Gastar Exploration Ltd. plans to suspend its Marcellus Shale capital program “for a short period” during the second half of the year while it monitors production results and allows time for constraints in midstream services to be worked out, CEO Russ Porter said Tuesday.

Outgoing Anadarko Petroleum Corp. Executive Chairman Jim Hackett plans to begin attending Harvard Divinity School in the fall. Hackett, 59, who served as CEO of The Woodlands, TX-based operator until last May, long has been interested in learning to write, speak and teach about faith and leadership, which were key reasons he retired from the company, according to a spokesman. The Harvard University program offers four degree programs: master of theological studies, master of divinity, master of theology and doctor of theology. Hackett’s retirement is to take effect after Anadarko’s annual meeting in May (see Daily GPI, Feb. 20). He previously worked at Devon Energy Corp., as well as NGC Corp., Burlington Resources (acquired by Anadarko in 2006), and Amoco Oil Co. Hackett is a board member and adjunct professor at Rice University.

Responding to a shareholder resolution earlier this year, Continental Resources Inc. said it plans to reduce flaring of associated natural gas at its oil wells in the Bakken Shale to “as close to zero percent flaring as possible.”