Plethora

Plains Exploration & Production Co. (PXP) Thursday raised its capital budget to $1.2 billion, up from a previous plan of $900 million to $1.1 billion, to develop a plethora of natural gas and oil prospects both onshore and offshore.

ExxonMobil Corp., a constant target of environmental groups, is the “green company of the year,” according to Forbes Magazine. Forbes cited ExxonMobil’s plethora of natural gas projects and its big bet on renewable technology.

The threat of hurricanes, growing gas-fired generation, a plethora of LNG projects and the tiny amount of storage capacity added over the last decade or more have led to a spike in the value of gas storage capacity, FERC staff said in a presentation Thursday at the Commission’s regular meeting. The presentation seemed to provide support for the Commission’s final rule issued Thursday relaxing market power tests for new storage capacity.

For decades the Asia-Pacific region has accounted for almost 70% of the world’s liquefied natural gas (LNG) imports, but the emergence of a plethora of projects in North America and Europe may lead to more price parity, according to an ExxonMobil Corp. executive.

Against the backdrop of rapid growth in the Southeast and a plethora of request for proposals (RFP) coming from that part of the country, Calpine Corp. last week lifted the veil on a new subsidiary called NewSouth Energy LLC in order to better focus on wholesale power customers and energy markets in the South.

With a break due in some areas Wednesday from a plethora of winter storms, prices fell in double-digit amounts at all points Tuesday. But sources expect quotes to rally again Wednesday since a new and even more severe blast of winter is expected to commence Wednesday night or Thursday in most regions outside the southern tier of states.

A Houston judge has set the official start date for the plethora of class-action lawsuits against former Enron Corp. executives, banks and law firms for Oct. 17, 2005, nearly four years after the company declared bankruptcy.

A Houston judge has set the official start date for the plethora of class-action lawsuits against former Enron Corp. executives, banks and law firms for Oct. 17, 2005, nearly four years after the company declared bankruptcy.

Is the second shoe of another bankruptcy filing in the energy merchant sector about to drop? No doubt it’s a question on the minds of a lot of energy industry executives after Xcel Energy last Monday said that there is a “substantial likelihood” that its NRG Energy unit will be the subject of a bankruptcy proceeding and Reliant Resources warned that it may need to pursue Chapter 11 if it can’t cobble together financing deals on acceptable terms.